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Monnet Ispat, a producer of sponge iron, steel, ferro alloys and power has reported good results for the March 2012 quarter. The topline of company has jumped by 20.1 per cent on a YoY basis to Rs 537 crore. The jump in the sales was mainly on account of the increase in the realisation of sponge iron, which grew by 23.2 per cent to Rs 24,159 per tonne.
Federal Bank posted a good set of March 2012 quarter numbers.The net profit of the bank grew by 38 per cent to Rs 237 crore on YoY basis.
A Piramal Group company, Piramal Healthcare has announced that it will acquire the US-based Decision Resources Group (DRG) for a sum of USD 635 million (Rs 3,400 crore). DRG is a three decades’ old privately owned company which is mainly engaged in research publications, consulting and advisory services.
UBI and BOI posted a good set of March quarter numbers trying to regain Investors confidence.
JSW Steel, which has been in the spotlight for an investigation about its alleged involvement in illegal iron ore mining in Karnataka by the Supreme Court, came out with its March quarter numbers on Monday.
Despite the favourable growth prospects of the food services’ industry in India and the strong foothold of SPL in the fine dining industry, we feel that the aggressive pricing logic applied by the merchant bankers and promoters would fail to receive a fair response from the market.
Plastene India (PIL) has decided to shelve its plans as the offer managed to accrue a mere 28 per cent subscription on the last day of its offer subscription period on May 15th, 2012.
Investors should avoid this IPO as there are serious concerns about the promoters as well as its overall business.
Larsen & Toubro, has reported better than street estimate earnings for the March quarter of the last fiscal (Q4FY12). The company reported 21 per cent growth in revenues to Rs 18,460 crore and 14 per cent rise in net profit to Rs 1,920 crore.
The wholesale price index (WPI) for the month of April 2012 came in at 7.23 per cent from 6.89 per cent for the month of March 2012.