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Stock Markets all about Gambling ... Perception or Fact?

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ITC beats street with Q3 net profit of Rs 2,052 cr, up 21%

Cigarettes major  ITC  reported a better-than-expected 21 percent year-on-year rise in third quarter net profit at Rs 2,052 crore, helped by strong growth in FMCG and agri businesses.Its net sales growth of 23 percent at Rs 7,627 crore also topped street estimates.Analysts on average had expected ITC to report a net profit of Rs 2,007 crore on revenue of Rs 7,220 crore, according to a CNBC-TV18 poll. "Overall ITC's results were good...Excellent performance of the non-cigarette FMCG business, good growth in the agri-business is driving growth," said Kaustubh Pawaskar of brokerage Sharekhan. The company saw its cigarette revenue rise 13 percent to Rs 3,657 crore, helped by the price hikes that it took. The analyst expects ITCs cigarette volumes would have grown around 1 percent in the quarter. The 64 mm cigarette that the company is test marketing currently should start contributing to its volumes couple of years down the line, he feels. Its other FMCG sales, whic...
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Fundamentals January 18, 2013

Nik’s Diary The Indian market opened positive, mirroring the positive opening of most of the Asian markets. US markets moved notably higher over the course of the trading day on Thursday after moving sideways over the past few days. The rally came following the release of upbeat employment and housing reports. The jobless claims fell to 335,000 (estimated 368,000), a five-year low, in the week ended January 12th from the previous week's revised figure of 372,000. Another report from the Commerce Department stated that the housing starts  jumped  12.1%  to  an  annual  rate  of  954,000 in December from the revised November estimate of 851,000. The European markets also finished in the green on Thursday, after the release of better than expected economic data in the US. Indian markets rose notable higher yesterday on reports that the government has permitted fuel price revision to reduce its fiscal deficit. Comments by Finance Minister, P. Chi...
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Inflation eroding savings of Indians in metros: MoneyControl Survey

Soaring inflation, high fuel cost, rising cost of education and health insurance premiums have eroded the real incomes of middle-class Indian families, with household savings rates dropping by a staggering 40 percent in the last three years, says an Assocham survey. Soaring inflation, high fuel cost, rising cost of education and health insurance premiums have eroded the real incomes of middle-class Indian families, with household savings rates dropping by a staggering 40 percent in the last three years, says an Assocham survey. "Poor households are unable to maintain the consumption levels at current prices while middle income families find their purchasing power erode fast, thus having far less surplus money," Assocham Secretary General D S Rawat said. The survey found that net financial savings by Indians, which include deposits with banks and non-banking finance companies, cash, investment in stocks, debentures and small savings instruments have dipped considerably becau...
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