Reliance Industries: Quotes, News

BSE 1350.8518 (-1.33%)

NSE 1350.5018.7 (-1.38%)

Bharti Airtel: Quotes, News

BSE 1789.557.55 (-0.42%)

NSE 1789.707.8 (-0.44%)

Infosys

First out of the block was Infosys. The company reported a decent set of numbers. What was inspiring was that the company retained its dollar revenue guidance. The stock rose 10% on the day its results were declared as revenue and PAT came slightly higher than estimates.

TCS

Like Infosys, TCS numbers were spectacular. India's largest software services provider reported a net profit of Rs 3830.64 crores for the quarter ended June 30, 2013, which was better than expected. The management commentary indicated the company was going to beat industry growth rates and was optimistic of the future. The stock has hit a 52-week high since.

L&T

Infrastructure major Larsen and Toubro reported a hugely disappointing set of numbers with profits after tax coming in at just Rs 756 crores, as against expectations of Rs 900 crores. The order book was healthy, but the markets were worried over domestic growth, on account of pathetic economic conditions. The stock has lost heavily since reporting results.

ICICI Bank

India's largest private sector lender ICICI Bank reported net profit of Rs 2,274 crore, which beat market expectations. Its gross and net non performing assets grew marginally, which was not a major disappointment, when compared to PSU Banks. Investors have dumped the shares more on worries over liquidity being drained by the RBI from the banking sector, then ICICI Bank's results per se.

Hindustan Unilever

Hindustan Unilever's volume growth at 4% disappointed the markets, though it managed to grow margins nicely. The stock saw some selling pressure following the results, though investors felt it was on account of rich valuations for the company. Growth will likely be in single digits, which still makes the stock richly valued when compared to price to book value multiples.

Bharti Airtel

India's largest telecom operator, Bharti Airtel reported profits that were slightly better than expected with net profit rising 35.5 percent quarter-on-quarter to Rs 689 crore. What was interesting was that the management sounded buoyant and it seems pricing is returning back to the sector. Chairman of the company Sunil Bharti Mittal said, "Results for Airtel India reflect rationality returning to the sector which needs to be complemented by a more enabling regulatory environment for a deeper penetration of telecom and broadband services."

Reliance

For the quarter ended June, Reliance Industries reported a net profit of Rs 5,352 crore, which was better than expectations. Refining margins were slightly disappointing, though the company's aggressive investment plans saw sustained buying in the stock.

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