Skip to main content

Cairn gain ahead of Q2 results!!

Cairn India , a subsidiary of London-listed Vedanta Resources, will announce its second quarter (July-September) results today. Analysts feel the oil & gas explorer is likely to come out with blockbuster earnings due to crude rally, weak rupee and dollar denominated cash during September quarter. The quarter is likely to be peak earnings for next few quarters. According to a CNBC-TV18 poll, analysts expect reported net profit to increase 12 percent sequentially to Rs 3,500 crore on forex gains while adjusted net profit to increase 25.5 percent quarter-on-quarter to Rs 3,070 crore in the quarter gone by. Source: MoneyControl

Comments

Post a Comment

Popular posts from this blog

Fundamentals April 30, 2013

Nik's Diary The Indian markets opened in the green following strong start to SGX Nifty and major Asian indices after better-than-expected reading on US housing sales and amid speculation that central banks will continue the stimulation measures. The US markets ended on a positive note on Monday with S&P 500 closing at a record high as traders reacted positively to the latest batch of economic news. The strength on Wall Street reflected a positive reaction to a report from the National Association of Realtors showing a bigger than expected rebound in pending home sales in the month of March. The pending home sales index rose by 1.5% in March 2013 after falling by 1% in February 2013. A separate report from the Commerce Department showed that personal spending climbed 0.2% in March 2013 following a 0.7% increase in February 2013. Meanwhile in India, renewed hopes of an interest rate cut at the RBI's monetary policy meet that is scheduled on May 3 helped stocks close high...
Post a Comment
Read more

Trade deficit for November at USD9.2bn led by lower imports

According to provisional data released by the commerce ministry, the trade deficit for November 2013 has narrowed to USD9.2bn as against USD10.6bn in the previous month and USD17.2bn in November 2012 mainly on account of a sharp decline in imports. Imports reported a contraction of 16.4% during November 2013 as against 14.5% in the previous month and growth of 3.5% in November 2012. However, the momentum of strong export performance witnessed over the past four months slowed in November 2013, with export growth at 5.9% as compared to 13.5% in October 2013. The decline in imports for the sixth consecutive month can be attributed to the steep contraction in non-oil imports due to restrictions on gold imports as well as the impact of weak domestic demand in the economy. Non oil imports reported de-growth of 23.7% as compared to 22.8% in the previous month and oil imports came in lower by 1.1% as compared to growth of 1.7% in the ...
Post a Comment
Read more

RBI releases policy framework for foreign banks in India

RBI has released the policy framework for foreign banks in India. The policy framework is primarily built upon two cardinal principles of reciprocity and single mode of presence. Currently foreign banks in India are present only through branch mode. RBI has inventivised foreign banks to set up a WOS, by allowing them a near national treatment in branch opening (which was constrained earlier). We need some more clarility on the reciprocity aspect (which is one of the cardinal principle behind these guidelines), barring which we believe that foreign banks would be more than willing to enter/expand in India. Moreover the frameworks also specifies that RBI may allow foreign banks to buy Pvt. banks after it makes a review of functioning of foreign banks and foreign investment in Indian banks, but it should not exceed overall FDI limit of 74% in any private bank. This is a positive development for Private Banks in general (both old...
Post a Comment
Read more