03:30 pm Market closing
The market has ended flat. The Sensex is down 47.25 points at 27868.63 and
the Nifty is down 1.30 points at 8337.00. About 1445 shares have
advanced, 1562 shares declined, and 103 shares are unchanged.
Dr Reddy's Labs, Axis Bank, Sun Pharma, HUL and ONGC were top gainers
in the Sensex. Among the losers were BHEL, GAIL, Hero Moto, Sesa Sterlite and
HDFC Bank.
03:10 pm Results
Public sector lender UCO Bank's second quarter net profit fell 74 percent
year-on-year to Rs 103.5 crore dented by higher provisions and lower net
interest income but was supported by higher other income. Profit was Rs 400.2
crore in the year-ago period.
Net interest income (NII - the difference between interest earned and
interest expended) declined 11.9 percent to Rs 1,383 crore in the quarter ended
September 2014 compared to Rs 1,570 crore in same quarter last year. However,
other income (non-interest income) climbed 71.6 percent year-on-year to Rs
358.97 crore in the quarter gone by.
Provisions and contingencies jumped 23.3 percent Y-o-Y (up 80.9 percent
sequentially) to Rs 935.3 crore in the second quarter of current financial year
2014-15.
Asset quality deteriorated sequentially. Gross non-performing assets (NPA)
declined 12 basis points on yearly basis (up 89 bps quarter-on-quarter) to 5.20
percent while net NPA rose 2 bps year-on-year (up 82 bps quarter-on-quarter) to
3.15 percent during the quarter.
02:50pm Chambal Fertilisers hits 52-week high
Chambal Fertilisers and Chemicals beat street expectations on all parameter
except textile business. Net profit in July-September quarter climbed 22
percent year-on-year to Rs 115 crore on strong operational performance. Profit
in the year-ago period was Rs 94 crore.
Profit was expected at Rs 95 crore on revenue of Rs 2,400 crore for the
quarter, according to the average of estimates of analysts polled by CNBC-TV18.
Net sales rose by 1 percent to Rs 2,507 crore in the quarter ended September
2014 compared to Rs 2,489 crore in same quarter last year.
Operating profit grew by 28 percent year-on-year to Rs 247 crore and margin
expanded by 220 basis points to 10 percent during the quarter, which both were
higher than analysts' estimates of Rs 203 crore and 8.5 percent, respectively.
The stock hit 52-week high of Rs 70 on the BSE, up by Rs 5 compared to
Wednesday's close.
02:30pm Gold Update
Gold tumbled to a fresh 4-1/2 year low and looked set to post its third
straight weekly drop on Friday, as the US dollar rallied on economic optimism
and expectations the Federal Reserve could raise rates sooner rather than
later.
A robust US nonfarm payrolls report later in the day could provide more
evidence of a strengthening economy, influencing the Fed and possibly hurting
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