Monday 11 February 2013
Reliance Communications share tanks over 9%, m-cap slips Rs 1,662 cr on Q3 result
Reliance Communications scrip today tumbled over 9 per cent, wiping out Rs 1,662 crore from its market value, after the company reported 43.5 per cent fall in consolidated net profit for the October-December quarter.
After falling over 10 per cent during the day, shares of the company finally closed at Rs 80.05, down 9.14 per cent from its previous close on the BSE.
At the NSE, the scrip was down 8.80 per cent to Rs 80.30. In the process, the market capitalisation (m-cap) of the company fell by Rs 1,662 crore to Rs 16,522 crore.
"RCom Q3 FY'13 performance was below street expectations on all fronts," IndiaNivesh Research said in a report.
The company yesterday reported 43.5 per cent decline in consolidated net profit at Rs 105 crore due to refinancing of debt during the third quarter ended December 31, 2012.
However, it reported standalone net profit of Rs 110 crore for the quarter, as against a net loss of Rs 277 crore in the year-ago period
After falling over 10 per cent during the day, shares of the company finally closed at Rs 80.05, down 9.14 per cent from its previous close on the BSE.
At the NSE, the scrip was down 8.80 per cent to Rs 80.30. In the process, the market capitalisation (m-cap) of the company fell by Rs 1,662 crore to Rs 16,522 crore.
"RCom Q3 FY'13 performance was below street expectations on all fronts," IndiaNivesh Research said in a report.
The company yesterday reported 43.5 per cent decline in consolidated net profit at Rs 105 crore due to refinancing of debt during the third quarter ended December 31, 2012.
However, it reported standalone net profit of Rs 110 crore for the quarter, as against a net loss of Rs 277 crore in the year-ago period
Car sales in India down 12.45% in January
Car sales in India fell an annual 12.5 per cent in January, the third consecutive slide and the fifth in sixth months, an industry lobby group said on Monday, as sales of cars in a once-booming market head for their worst growth in nine years.
Automakers sold 173,420 cars in India last month, according to data from the Society of Indian Automobile Manufacturers (SIAM).Sales of motorcycles rose 7.5 percent in January to 886,527 vehicles, SIAM said.
Truck and bus sales were 63,218 vehicles during the month, down 9.5 percent.
Car sales in India declined by 12.45 per cent to 1,73,420 units in January this year compared to 1,98,079 units in the same month of 2012.
Automakers sold 173,420 cars in India last month, according to data from the Society of Indian Automobile Manufacturers (SIAM).Sales of motorcycles rose 7.5 percent in January to 886,527 vehicles, SIAM said.Truck and bus sales were 63,218 vehicles during the month, down 9.5 percent.
Car sales in India declined by 12.45 per cent to 1,73,420 units in January this year compared to 1,98,079 units in the same month of 2012.
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