Dalal Street

Compared to what leading Indian Financial Institutions like UTI Bank have reported their results, Reliance Capital is growing at a slower pace. Reliance Capital reported a profit growth of RS 311 crore an increase of mere 9% compared to the same quarter a year ago which was at 285.59.

On a consolidated basis, Reliance Capital’s net profit rose 23% to Rs 703 crore and total income more-than-doubled to Rs 2158 crore during the fiscal, a 128% increase from Rs 947 crore of the previous year.

Reliance Asset Management recorded a net profit of Rs 49 crore, a 63% increase during the year. The number of investors in Reliance Mutual Fund (RMF) increased to 32.27 lakh from 20.95 lakh a year ago.

Reliance Life Insurance had a premium income of Rs 1005 crore from Rs 224 crore in the previous year, representing a jump of 348% .

Reliance General Insurance had a premium income of Rs 912 crore from Rs 163 crore in the previous year, representing an increase of 462%.

Titan Industries has reported a 18.50% decline in its net profit in the March 2007 quarter at Rs 30.32 crore (Rs 37.21 crore). Net sales surged 39.5% to Rs 605.83 crore from Rs 434.15 crore.

The stock of Titan Industries gained momentum, when in late-March the company forayed into the optical eye-wear business by launching a retail chain, Titan Eye+, in Bangalore. The company will offer products, including its own brands, in the fashion eye-wear category besides other licensed brands.

Meanwhile, the world of Titan’s network has increased to 250 from 170 last year and we have plans to increase that to 275 by the end of this fiscal. The company, which has a manufacturing facility in Hosur, Tamil Nadu, and an assembly unit in Dehradun, produces about 10 million watches currently.

Titan has also expanded its range in the sports wear category by introducing the Aviator series of watches. The new series, inspired from World War II fighter aircraft is targeted at the upmarket, global Indian and is priced between Rs 4000 and Rs 7000.

Titan is the only listed player in organised retailing of jewellery with a pan-India network. It markets the jewellery under the ‘Tanishq’ brand. Tanishq commands around 70% share in the branded jewellery market.

Titan Industries also manufactures watches marketed under the Titan and Sonata brand names. It enjoys over 25% share of the total domestic watch market.

The counter of Infomedia India saw sporadic buying activity coupled with huge volumes in the past few days. From Rs 140.80 on 5 April 2007, the stock surged to Rs 198.45 by 19 April 2007. The sharp spurt in the stock came after a renowned investor, Rakesh Jhunjhunwala, mopped up 4.50 lakh shares of the company at Rs 163 per share. Rakesh Jhunjhunwala along with other persons acting in concert already hold 4.23% stake in the company.

Shares from the T2T group are to be delivered, and as a result trading is not possible in such counters. As a result, the daily traded volumes on such scrips decline.

Infomedia India, a special interest publications company, provides commercial information in the form of business directories, popularly called Infomedia Yellow Pages. Infomedia India also publishes at least 10 Indian and international B2B titles.