The CAG report naming top biz houses among alleged recipients of state generosity may well turn out to be more of a sentimental dampener for power utilities.
Coal India reported 8% y-o-y growth in its earnings for the June 2012 quarter. The key reason for this rise in earnings was the higher other income and lower costs, especially employee cost.
After a disappointing performance for the last two years, Unichem Laboratories reported a strong set of figures in the June 2012 quarter.
While Coal India's net profit has exceeded Street's expectations by growing at 7% in the latest June quarter, it is largely driven by high other income and lower than expected cost.
Relaxo Footwear's stock has gained 75% in last six months, thanks to the drop in the rubber price- which is the key raw material for the company.
Emami will benefit from the extended summer. The company's latest June quarter numbers were good, primarily because of the company's strong domestic performance.
Drugmaker Wockhardt posted stellar numbers in the June quarter with earnings rising 97 per cent to Rs 383 crore.
The recent readings of the quantum of rainfall suggest that there is a deficit of 22%, which if continues, could exacerbate into a drought-like situation for the Indian economy.
Titan Industries' revenue growth in the June 2012 quarter was the slowest in the last ten quarters. This was due to high gold price, slowing discretionary demand and lesser marriage dates in the quarter.
After posting another robust quarter, management of PowerGrid said that the company could see reduction in capital work in progress in FY13.
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