Century Enka, Sterlite Technologies, Indusind Bank, Canara Bank, Central Bank, SBT, and DCM Shriram Consolidated, Jindal Drilling, Vardhman Textiles, MRF, and Balrampur Chini. Companies turning the corner were headed by BPCL, HPCL, Vijaya Bank, SpiceJet, Bajaj Hindustan, PNB Gilts, Simbhaoli Sugar, and Ceat.
Large companies reporting lower-thanexpected result inclu
Parsvanath Developers reported a sharp fall in net profit. Companies reporting negative turnaround (loss against profit) were headed by XL Telecom, Ispat Industries, Indian Metals, MTNL, Vishal Retail, Best & Crompton, Indian Hotels, Sandur Manganise, Orchid Chemicals, Jai Balaji Industries, and Aditya Birla Nuvo.
The BSE Sensex started the June 2009 quarter around the 9,700 level and went on to create a high of 15,600 after election results in June 2009. The rally in the quarter was almost one way, with little corrections. The first major correction happened mid July 2009 and the Sensex hit a low of 13,220, only to recover swiftly thereafter. It is currently hovering around 16,000.
At start of this fiscal year, everyone was expecting corporate performance to improve from the second half. However, Corporate India has managed a much better show in the first quarter itself. But can it sustain this momentum if the monsoon remains weak as it is till now? What if commodity prices and interest rate rise in future and the government starts withdrawing the fiscal and monetary stimuluses to control emerging inflation and reduce the huge fiscal deficit? Will the global economies recover as fast as the rise in share prices of exporters suggest? Has not the market runup already discounted the good show? Do the current share prices leave scope for any disappointment in future? Will the flood of qualified institutional placements, global depository receipts and initial public offerings absorb the foreign institutional investors' inflow, leaving little for the secondary market uptrend? These are some doubts that are nagging analysts_ - ded Reliance Industries, Hindustan Unilever, ABB, Sun Pharma, Glenmark Pharma, Bank of India, Tech Mahindra and IDBI Bank. Hotel Leela, Aftek, Max India, Godrej Industries, GE Shipping, Gujarat NRE Coke, NIIT, Ashapura Minechem, Varun Shipping, Rohit Ferro, Ashok Leyland, Bharat Forge, and
Large companies reporting lower-thanexpected result inclu
Parsvanath Developers reported a sharp fall in net profit. Companies reporting negative turnaround (loss against profit) were headed by XL Telecom, Ispat Industries, Indian Metals, MTNL, Vishal Retail, Best & Crompton, Indian Hotels, Sandur Manganise, Orchid Chemicals, Jai Balaji Industries, and Aditya Birla Nuvo.
The BSE Sensex started the June 2009 quarter around the 9,700 level and went on to create a high of 15,600 after election results in June 2009. The rally in the quarter was almost one way, with little corrections. The first major correction happened mid July 2009 and the Sensex hit a low of 13,220, only to recover swiftly thereafter. It is currently hovering around 16,000.
At start of this fiscal year, everyone was expecting corporate performance to improve from the second half. However, Corporate India has managed a much better show in the first quarter itself. But can it sustain this momentum if the monsoon remains weak as it is till now? What if commodity prices and interest rate rise in future and the government starts withdrawing the fiscal and monetary stimuluses to control emerging inflation and reduce the huge fiscal deficit? Will the global economies recover as fast as the rise in share prices of exporters suggest? Has not the market runup already discounted the good show? Do the current share prices leave scope for any disappointment in future? Will the flood of qualified institutional placements, global depository receipts and initial public offerings absorb the foreign institutional investors' inflow, leaving little for the secondary market uptrend? These are some doubts that are nagging analysts_ - ded Reliance Industries, Hindustan Unilever, ABB, Sun Pharma, Glenmark Pharma, Bank of India, Tech Mahindra and IDBI Bank. Hotel Leela, Aftek, Max India, Godrej Industries, GE Shipping, Gujarat NRE Coke, NIIT, Ashapura Minechem, Varun Shipping, Rohit Ferro, Ashok Leyland, Bharat Forge, and
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