Wednesday, 30 April 2014
Oriental Bank Q4 net up 0.8% on other income but provisions jump 23%
Oriental
Bank of Commerce reported net profit at Rs 310.3 crore in the quarter ended
March 2014, up 0.8 percent compared to same quarter last year supported by
higher other income and net interest income. Asset quality was stable but
provisions increased during the quarter.
·
TVS Motor zooms 6%, eyes growth in
FY15 & new products
Shares
of TVS Motor surged 6 percent as it posted a net profit of Rs 52.1 crore
in the quarter ended March 31, 2014 against a loss Rs 32.7 crore in the
year-ago period. Launches and upgrades which the company had introduced across
the scooter and motorcycle drove its revenue up 21 percent year-on-year to Rs
2,156 crore.
·
Alstom Group shares in focus on
plans to divest non-core assets
Shares of
Alstom Group companies – Alstom India Limited and Alstom T&D India have
rallied up to 18% after parent company Alstom announced that it has received a
binding offer from General Electric (GE) to acquire its energy business.
·
Ranbaxy, Sun Pharma fall 2-3% as
merger plans hit roadblock
Shares of Ranbaxy and
Sun Pharma are under selling pressure as merger of both the companies are stuck
in a legal roadblock . Both the stocks lost 2-3 percent as Andhra Pradesh High
Court has asked stock exchanges as well as Securities and Exchange Board of
India to maintain an interim status-quo on the merger.
