TCS and other results rocks....

* Novartis India Q2 net up 22% to Rs. 40.5 cr
Drug firm Novartis India on Thursday said its net profit rose by 21.98 per cent to Rs. 40.5 crore for the second quarter ended September 30, 2010, over the same period previous fiscal.

* Ambuja Cements net down at Rs. 152 cr
Cement major Ambuja Cements on Thursday said that it has clocked a net sales of Rs. 1,564 crore in the third quarter of the current fiscal, down 2.9 per cent from Rs. 1,611 crore in the year-ago period. Net sales declined on account of lower realisations, the company said.

* McDonald's Q3 net income jumps 10%
McDonald's frappes, smoothies and dollar menu drew in more customers in the third quarter, pushing the world's largest burger chain's net income up 10 per cent.

* TCS tops expectations, profit up at Rs. 2,169 cr
Indian IT major beat the Street’s expectations after it announced a 13.8 per cent quarter-on-quarter rise in its second quarter.


# Output outage pulls down ACC net by 79.2%
# GlaxoSmithKline Q3 net down 3.5%
# Sensex regains 20K in 388-point rebound
# Allahabad Bank Q2 net up 20% on NII growth
# TCS rises over 1% on hopes of strong Q2 numbers
# Ashok Leyland gains 2% on good Q2 numbers
# Kotak Bank consolidated Q2 net up 21%

Results are here....

Forthcoming Results for Q2:

October 21, 2010
ACC	Corporation Bank	Indiabulls Fin	Pennar Inds	Subuthi Finance
AKZOINDIA	Dairyfield	Indowind Ener	Peoples Invest	Sun Pharma Adv
Allahabad Bank	DIC India	Info Edge India	Persistent Sys	Supreme Petro
Alstom Projects	Eclerx Serv	JM Financial	PH Capital	TCS
Ambuja Cements	Esab India	JRG Securities	Prime Sec	Technocraft
Arunoday Mills	Flex Foods	KAR Mobiles	Rajratan Global	TVS Motor
Asahi Songwon	Foseco India	Mahindra Forg	Sasken Comm	Wipro
Austin Engr	Fresenius Kabi	Monotype India	Silver Smith	XPRO India
Bajaj Corp	Gopal Iron	Multibase India	SKF India	Zenith Fibres
Camlin Fine	GS Auto	Novartis India	South Indian Bank	Zensar Tech
Chromatic India	Hind Syntex	Oil Country Tub	Sterlite Tech
October 22, 2010
Acrow India	Cat Tech	Intec Cap	Nivi Trading	SOUTHERN ISP
Ador Fontech	Chennai Petro	IPCA Lab	Paushak	Tamil Nadu News
Ador Multi	D B CORP	Jayant Agro	Piramal Health	Taneja Aero
Ajanta Pharma	Daiichi Kark	JSL Stainless	Plastiblends	Tata Elxsi
AP Paper	Danlaw Tech	Kabra Extr	Poly Medicure	TECIL Chemicals
Apte Amalg	Deep Inds	Kakatiya Tex	Ram Kaashyap	THANGAMAYIL
Aptech	Dewan Housing	Kale Consl	Rane Brake	Thomas Cook
Aries Agro	Dynavision	Kalyanpur Cem	Ravalgaon Sugar	Tilaknagar Inds
AVT Nat Products	Emco	Kirloskar Ferro	Redington India	Tips Inds
Bafna Pharma	English Indian	Kirloskar Oil	Reliance Chem	Torrent Cables
Bank of India	Envair Elect	KSB Pumps	Sagar Cements	Triton Valves
Bank of Maharashtra	FAG Bearings	Liberty Phos	Sangam India	TT
Bhagwandas Met	Fairfield Atlas	Libord Info	Savant Info	Vardhman Tex
Bhansali Engr	Finolex Inds	Libord Sec	Shree Rani Sati	Vijaya Bank
Binani Cement	Fulford India	Mahindra & Mah Fin	Simmonds Marshall	Wipro
Binani Inds	Geometric	Mirc Elect	SKS Microfinance
Biocon	Global Boards	Modern India	Smartlink Net
Borosil Glass	Indian Bank	NIIT	Sobha Dev
October 23, 2010
Ador Welding	Diamines & Chem	GMR Inds	Nilkamal	Sumeru Inds
Agarwal Hold	Dr Reddys Lab	Gujarat Ambuj Ex	Nucleus Soft	Surya Fun City
Ahmedabad Steel	E Com Infotech	Hydro S&S Inds	Patels Airtmp	Torrent Pharma
Andhra Sugars	Edelweiss Cap	Ishita Drugs	Piramal Life	Uflex
Artson Engr	Enkei Castalloy	Jasch Inds	Safari Inds	Vantage Corp
Avanti Feeds	Facor Alloys	Jog Engineering	Sakuma Exports	Velan Hotels
Axis It&T	Ferro Alloys	KBS Capital	Shalimar Paint	Vivimed Labs
Bhageria Dye	Fineline Circ	Mangalam Cem	Shantivijay Jew	Woolite Merc
Bharat Forge	Finolex Cables	Menon Bearings	Solvay Pharma	Yuken India
Cheslind Tex	Force Motors	National Oxygen	Somany Cerm
Confidence Petro	Garware Wall	Natural Cap	Span Diag
October 24, 2010
Mayur Floorings	Onmobile Global

Good Results so far...

* Kotak Bank consolidated Q2 net up 21%
Private sector lender Kotak Mahindra Bank (KMB) on Wednesday reported a21 per cent jump in consolidated net profit to Rs. 364 crore for the quarter ended September, helped by a healthy rise in advances. The lender's net profit stood at Rs. 299.77 crore in the second quarter of the last fiscal.

* Hindustan Zinc Q2 net up 1.47% on high demand
Vedanta Group firm Hindustan Zinc on Wednesday posted 1.47 rise in profit at Rs. 948.72 crore for the second quarter of the current fiscal, as against the year-ago period, on improved demand and rising prices. Hindustan Zinc had a net profit of Rs. 934.95 crore in the same quarter last fiscal.

* YES Bank Q2 profit soars 58% to Rs. 176cr
* Canara Bank net up 11% to Rs. 1,008 cr
* Nifty slips below 6000, metals lose lustre
* Yahoo profit rises, but revenue is flat
* Flush with cash, will Apple go shopping?
* Bajaj Q2 PAT grows 69% to Rs. 682 cr
* Goldman Sachs tops forecasts, earns $1.74 bn
* Cadila Healthcare Q2 net up 30% to Rs. 170 cr
* Alembic Q2 net up 63% to Rs. 21 cr
* HDFC Bank Q2 net up 33% at Rs. 912 cr
* BankAm posts $7.7 billion loss on special charge
* Coca-Cola Q3 net income up 8.4%
* Bajaj Auto Q2 net profit soars 69%
* Sensex gathers steam as ICICI Bank, RIL rise
* Cadila Healthcare Q2 net up 29.5%
* Sesa Goa rises 2% after good Q2 numbers

Essar Oil Result is out

Essar Oil Jul-Sep revenue Rs. 124.15 bln vs Rs. 111.44 bln yr ago

Gross refining margin $6.49/bbl

Refinery throughput 3.69 mln tn

EBITDA Rs. 6.34 bln

Revenue Rs. 124.15 bln

Bajaj Finance Q2 PAT up 143% at 52.8 crore

Buoyed by a strong volume growth in consumer and SME business lines, Bajaj Finance Ltd reported a 143 per cent jump in its PAT for the second quarter ending September 30, 2010, at Rs. 52.8 crore as against Rs. 21.69 crore in the year-ago period.

Total income surged 49 per cent at Rs. 326.4 crore from Rs. 219.7 crore in the year-ago period, according to a company statemnet.

Deployments to the consumer durables witnessed a 58 per cent increase during the quarter at Rs. 401 crore as against Rs. 211 crore in the year-ago period while small and medium enterprise business lines saw a 71 per cent jump in deployments at Rs. 251 crore as against Rs. 157 crore in the year-ago period.

In two-wheelers, the company's deployment stood at Rs. 472 crore in during the second quarter as against Rs. 312 crore in the year-ago period, up 74 per cent.

The company's customer-base increased from 1,93,075 to 3,17,398 while total deployment rose 112 per cent to Rs. 2,128 crore from Rs. 1,003 crore in the year-ago period.

Loan loss and provisions were Rs. 61.5 crore (including Rs. 19.4 crore of one-time accelerated provision in Q2FY11 as against Rs. 58.5 crore in the correponding period of the previous fiscal. Adjusted for this accelerated provision, loan loss and provisions would have been Rs. 42.1 crore.

The company's capital adequacy ratio, including tier-II capital and excluding current year's profits stood at 21 per cent.

The company's NPA provision coverage ratio as at September 2010 stood at 75 per cent.

L&T Q2 net profit up 31% at Rs 765 cr

L&T posted a better-than-expected result for the second quarter after its net profit rose 32 per cent. The company said that its net profit rose to Rs. 764.98 crore in quarter ended September 30, beating the average estimate Rs. 663 crore

The engineering and construction major’s net sales rose 17.66 per cent to Rs. 9,260 crore during the second quarter, topping the estimates of analysts who saw it at Rs. 8,644 crore in an NDTV poll.

HDFC Q2 net profit up 22% at Rs 808 cr

Leading mortgage firm Housing Development Finance Corporation (HDFC) today reported a 21.63 per cent rise in net profit to Rs. 807.54 crore for the second quarter ended September 30, led by higher loan disbursal.

The firm had posted a net profit of Rs. 663.94 crore during the corresponding quarter of last fiscal, HDFC said in
a filing to the Bombay Stock Exchange.

It also reported an increase of 4.21 per cent in its total income during the second quarter to Rs. 2,970.22 crore,
as against Rs. 2,850.23 crore in the year-ago period.

HDFC reported a 18.73 per cent increase in its loan book at Rs. 1,06,287 crore at the end of September, compared to Rs.
89,519 crore in the corresponding period of 2009-10. During the quarter ended September 30, HDFC has allotted
53.73 lakh equity shares of Rs. 2 each pursuant to conversion of foreign currency convertible bonds and exercise of stock
options by its employees and directors.

During the quarter under review, the mortgage firm sub-divided shares of face value of Rs. 10 to Rs. 2 each with
effect from August 21, 2010. The share split was in the ratio of 1:5.

Meanwhile, the housing finance firm also announced the appointment of Keki M Mistry as Vice Chairman for a period of
five years effective November 14, subject to shareholders approval.

India, China not playing for '2nd place': Obama

Insisting that the US cannot afford to cut its education budget, President Barack Obama has said it has to compete with countries like India and China which are "not playing for a second place" and voiced opposition to tax breaks to the American firms shipping jobs overseas.

Obama, who was here for an election rally ahead of the November polls in support of Governor Deval Patrick, said the Republicans want to cut education spending by 20 percent to help pay for a 700-billion-dollar tax break that only the wealthiest 2 percent Americans will ever see.

The Republicans may think that a cut in education spending is a "good idea" but countries like India and China don't, he said.

"We see an America where every citizen has the skills and training to compete with any worker in the world. The other side might think it's a good idea to cut education by 20 percent, but you don't think it's a good idea. You know who else doesn't think it's a good idea -- China, and South Korea, and Germany, and India," Obama told an audience of about 8000 Saturday.

He said these countries are boosting education spending, not cutting back. "They understand that whoever is able to train their young people will be able to out-compete any other country in the world. Those countries are not playing for second place. And the United States doesn't play for second place. We play for first."

Obama said it was for this reason that tens of billions of dollars in taxpayer subsidies that used to go to big banks are now going where they should -- to students and families.

"That's why we want to make our new college tax credit permanent, which will be worth 10,000 dollars in tuition relief for every student in America," he said.

Stressing that taxpayers should never again pay a bailout for Wall Street's mistakes, Obama said he will "fight the efforts of some in the other party to privatise Social Security, because as long as I'm President, nobody is going to take the retirement savings of a generation and hand it over to Wall Street.

"That's why we won't go back to the days when insurance companies and Wall Street banks had free rein to run roughshod over the middle class."

Obama further said the country's future must be "driven by American innovation and American ingenuity."

He said tax breaks should be given to small businesses, US manufacturers and clean energy companies that are creating jobs in the US "because I don't want to see all the solar panels and wind turbines and electric cars built in Europe or in Asia."

"We don't want to keep giving tax breaks to corporations that ship our jobs overseas," he said.