1:20 pm Results: Cigarette-FMCG-hotel major ITC
matched street expectations with the second quarter net profit climbing 8.7
percent year-on-year to Rs 2,425 crore supported by other income and higher
revenue. The profit in the year-ago period was Rs 2,230.5 crore. Net sales
jumped 14.8 percent (lower than expected) to Rs 8,930 crore in the quarter
ended September 2014 compared to Rs 7,776 crore in same quarter last year.
Profit was estimated at Rs 2,458 crore on revenue of Rs 9,063 crore for the
quarter, according to the average of estimates of analysts polled by CNBC-TV18.
Don't miss: Titan slips 7% on cautious growth outlook; analysts
bearish
Left over fire crackers of Diwali are still lighting up Dalal Street with
some bumper gains. The Sensex is up 380.34 points or 1 percent at 27726.67 and
the Nifty is up 110.75 points or 1.4 percent at 8279.95. About 1732 shares have
advanced, 976 shares declined, and 105 shares are unchanged.
HDFC, Maruti, L&T, Tata Steel and Hindalco are top gainers in the
Sensex. Among the losers are Bharti Airtel, HUL, ITC and ICICI Bank.
Japan's Nikkei stock average surged to a seven-year high and the yen tumbled
to its lowest since early 2008 against the dollar on Friday as the Bank of
Japan caught markets flat-footed with its surprise monetary easing decision.
The Bank of Japan surprised global financial markets by expanding its
massive monetary easing as economic growth and inflation have not picked up as
expected after a sales tax hike in April. The jolt from the BOJ, which had been
expected to maintain its level of asset purchases, came as the government
signalled its readiness to ramp up spending to boost the economy and as the
government pension fund, the world's largest, was set to increase purchases of
domestic and foreign stocks. More information please visit this site www.bigprofitbuzz.com
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