The performance of the third largest private bank in the country, Axis Bank, in the quarter to December was largely in line with expectations.
Revenues of the iron ore miner more than halved in the September 2012 quarter due to the mining ban in Karnataka and transportation problems in Goa.
The bigger concern is the fall in profit and operating margins at its Indian operations. On a consolidated basis, the company reported an 89% drop in profit.
The stock of Bajaj Finance has been amongst the best performers in the lending space so far this year, giving returns of 54%.
Global commodity prices as measured by the S&P GSCI Commodity Index have fallen 14% during the April-June 2012 quarter.
Despite slower sales growth, steel makers witnessed an improvement in operating profit margins in the March 2012 quarter.
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