| Market Commentary | Tuesday, January 19, 2010 08:28 Hrs IST |
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STOCK ALERT Tata Power will be in focus ahead of Q3 earnings
Tata Power Company will declare its Q3 December 2009 ended quarter results on Tuesday, 19 January 2010.
Anil Ambani-controlled Reliance Capital is reportedly looking to sell up to 20% stake in Reliance Mutual Fund to a strategic foreign partner. Larsen & Toubro will reportedly invest around Rs 25,000 crore to build its thermal power business in the next five years. Carrefour, Europe's biggest retail chain, is reportedly close to a deal with Kishore Biyani of Pantaloon Retail to set up franchise stores in India. Jaiprakash Hydro-Power will raise Rs 1500-2000 crore through sale of shares and overseas convertible bonds in a month, its chairman Manoj Gaur said on Monday, 18 January 2010. Jaiprakash Hydro is a unit of Jaiprakash Associates. Steel wire ropes maker Usha Martin will issue up to 5.45 crore shares to qualified institutional investors at Rs 85.9 each to raise Rs 468 crore. Mangalore Refinery and Petrochemicals, SRF, Aditya Birla Money, Mindtree, Sonata Software, JK Lakshmi Cement, S Kumars, Shree Ashtavinayak Cine, Unichem Laboratories, BASF India, and NRB Bearing, among others will declare their December 2009 ended quarter results on Tuesday, 19 January 2010. Ajmera Realty & Infra India reported net profit of Rs 3.86 crore in the quarter ended December 2009. Sales reported to Rs 7.21 crore in the quarter ended December 2009. The value for the quarter ended December 2009 is not comparable with the previous quarter ended December 2008 as the steel business of the company has been demerged into a separate company. Net profit of State Bank of Mysore declined 22.61% to Rs 141.31 crore in the quarter ended December 2009 as against Rs 182.59 crore during the previous quarter ended December 2008. Total operating income rose 2.65% to Rs 900.66 crore in the quarter ended December 2009 as against Rs 877.42 crore during the previous quarter ended December 2008.
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