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Tuesday, February 4, 2014

·        Tech Mahindra gains on robust Q3 earnings.
 The country’s fifth largest IT exporter reported profit at Rs 1,010 crore during the quarter, a jump of over three times from Rs 321.5 crore during the same quarter a year ago. This was higher than the Street expectation of Rs 662 crore. FII limit increased from present 45% to 48%.

·        PFC gains on Q3 numbers, interim dividend.

Shares of PFC were up over after net profit for the quarter ended December 2013 surged 37% to Rs 1,534 crore from Rs 1,117 crore in the corresponding quarter last fiscal. Further, board of directors at its meeting held on February 04, 2014, declared and approved the payment of interim dividend of Rs. 8.80/- per share on the face value of the paid-up equity shares of Rs. 10/- each for the Financial Year 2013-14.

·        Tata Motors' stock up after unveiling of two new models.
 Shares of Tata Motors gained after the auto major unveiled two new models which it plans to start selling in the second half of the year. These two new products are based on the company's enhanced X1 platform, on which the existing Vista and Manza models are built.

·        Muthoot Finance firms up on plans to set up WLATMs

Shares of Muthoot Finance were up over 2% at Rs 132 after the Muthoot Group announced plans to set up white label automated teller machines across the country. White Label ATMs (WLAs) are not owned by banks but by private ATM service providers. Customers from any bank can deposit or withdraw money from these; banks pay a service fee for the usage.

·        Voltas shares up after Citigroup upgrades to 'buy'
     India's Voltas Ltd shares gain 3 percent after Citi upgrades the stock to "buy" from "sell" and raises its target to 128 rupees from 84 rupees, citing improvement at unitary cooling and engineering agency divisions.


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