Category: Breaking Corporate India Earnings News

Latest weekly data released by the Ministry indicate that prices of food articles were up 18.3%YoY for the week ended 25 Dec, vs. 14.4% the previous week.

Key products contributing to the price rise over the week were vegetables such as onions, tomatoes, brinjal. Although prices of pulses continued contracting, other protein-rich items such as milk, eggs, meat and (more…)

Rakesh Jhunjhunwala backed A2Z Maintenance & Engineering Services IPO failed to even get a fifth of subscription at the offer price of Rs 400 – Rs 410. We had recommended to AVOID the IPO and even Foreign Institutional Investors have given a thumbs down to the Over Priced A2Z IPO.

What we are picking up from our sources on the Street (more…)

Are investment bankers the Worst people when weighed on the scale of Ethics ? Guess the Collapse of Wall Street in 2008 and recent Loan Scam has ample evidence to prove the same.

Money Matters Financial Service – MOMF has a questionable history, window dressed by broking firm IIFL. MOMF bought Dover Securities, listed on BSE, and reverse-merged with Dover Securities. Under the guidance of IIFL, MOMF did a QIP Placement to Goldman Sachs, Morgan Stanley and other FIIs at Rs 625 raising around Rs 400 Cr.

The Unanswered Questions:
How come none of the Institutions questioned the Business practice of MOMF ? Were they all too blind or were (more…)

Bank of Baroda reported PAT growth of 61% YoY to INR10.2bn, mainly due to lower than expected credit costs. While loan and margin expansion was on expected lines, BoB surprised positively on its robust asset quality as against other PSU peers that have disappointed this quarter on this front.

BOB’s loans have expanded 30% yoy (well above industry), is fairly broad-based, (more…)

Biocon has entered into a global commercialization deal with Pfizer for its biosimilar insulins (incl analogs) pipeline viz. Recombinant Human Insulin, Glargine, Aspart & Lispro. Pfizer will pay Biocon US$200m upfront & US$150m by way of development & regulatory milestone payments in addition to manufacturing-related income & royalties on launch.

The upfront payment of $200mn translates into a per share value of Rs45 (pre-tax) for Biocon. Mgmt indicated that a meaningful (more…)

Even though Silicon Valley companies like Google and Apple beat Analysts forecasts by Teens Margins, Infosys and other IT Services Company suffer as they fail to innovate and are often struck at the point of inflection.

Infosys reported a 2Q with revenue growth of ~10% qoq to $1496m (our exp: $1464b). Cross currency boosted reported growth by ~1%. Volume growth was 7.2% qoq while onsite pricing witnessed a improvement of ~2.5% qoq. Offshore pricing was down ~0.4% (more…)