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Stocks of DB Realty and Suzlon may see some adverse movement, at least during earlier part of the week, as both companies reported poor sets of numbers for the October-December quarter. DB Realty reported a sharp decline in consolidated net profit at Rs 11.73 crore in the third quarter from Rs 108.69 crore in the same period last year. Suzlon Energy posted bigger loss of Rs 286.5 crore compared to Rs 253.6 crore a year ago. Suzlon also slashed its Q4 revenue guidance by over 10 per cent to Rs 21,000-22,000 crore from its earlier target, due to the poor volumes from India and China in Q3. Both firms cited rising input costs and interest rates behind the bad performance.
Will Sensex stocks satisfy Street?
This week four Sensex companies – State Bank of India, Coal India, Cipla (on Monday) and Tata Motors (Tuesday) – are declaring their financial performances. The Street expects a muted performance from SBI and Coal India, and marketmen see a better show from Cipla. Analysts expect SBI asset quality overhang to continue as provisions are likely to grow. For most analysts, SBI asset quality issues would be more important than its reported earnings. On Coal India, marketmen are keen to know about the impact of non-executive wage revision. While Tata Motors may announce a better top line, analysts expect its bottom line could be under pressure due to higher input costs.
Syndicate Bank and preferential allotment
Syndicate Bank will see some action on Monday as its board of directors has approved for raising equity capital of the bank by issuing equity shares by preferential allotment to Government of India and others. The bank, however, did not give details on the number of shares or the price at which it is planning to allot to the Government, whichcurrently owns 69.47 per cent stake. It may be recalled that Syndicate Bank had allotted 5.13 crore shares (on March 23, 2011) at Rs 123.35 a share on preferential basis to the Government. The stock is currently hovering around at Rs 112.
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