TOP FIVE CORPORATE NEWS
·
Asian Paints Q3 net falls 1.76% on
high raw material cost.
Asian
Paints, the country's largest paint company by assets, disappointed street on
every parameter. Its third quarter consolidated net profit fell 1.76 percent
year-on-year to Rs 329.3 crore, dented by weak demand for industrial paint and
high raw material cost.
·
UltraTech Q3 net falls 38%, co
says outlook challenging
UltraTech Cement met street expectations with the third quarter
(October-December) net profit falling 38.4 percent year-on-year to Rs 370 crore
dented by lower selling prices due to the subdued demand. Net sales declined
1.5 percent to Rs 4,786 crore in the quarter ended December 2013 from Rs
4,857.4 crore in a year ago period.
·
Wipro at 14-year high post Dec
quarter earnings.
Shares of
Wipro trading higher by 4 percent at 576 after announced quarter earning late
Friday met street expectations. Its IT services revenues grew 2.6 percent
sequentially to Rs 10,327 crore. Consolidated profit after tax of the company
climbed 4.27 percent sequentially to Rs 2,014.7 crore and revenues grew 3
percent to Rs 11,327.4 crore for the quarter ended December 2013.
·
Aurobindo up 5%, to acquire
Actavis' ops in 7 Euro nations
Shares of Aurobindo Pharma jumped 5 percent in intraday trade on
acquisition plan. The generic drug maker has signed a binding offer agreement
to acquire commercial operations of Dublin-based Actavis in seven Western
European countries.
·
HCL Technologies joins Rs 1
trillion market capitalization club
HCL
Technologies joined the elite club of Rs 1 trillion market-cap firms after the
stock hit a record high on the bourses. The market capitalization of HCL
Technologies rose to Rs 100,432 crore in intra-day trades on the Bombay Stock
Exchange (BSE), making it the fourth information technology (IT) company in the
Indian capital market with a market cap of over Rs 1 lakh crore.
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