ONGC’s strong Q1 show was despite a sharp increase in subsidy burden to Rs 9,811 crore in Q1 June 2008 compared to a subsidy burden of Rs 3,649 crore in Q1 June 2007. ONGC has to shoulder the subsidy burden to partially offset the under-recoveries suffered by the public sector oil marketing companies due to selling petroleum products below the cost price
Bank stocks will be in the thick of the action on a day when the Reserve Bank of India (RBI) announces its quarterly review of the monetary policy at about 12:00 IST. Given high inflation, tight monetary policy stance will continue.
State-run oil refining-cum-marketing firm BPCL on Monday posted net loss of Rs 1029 crore in Q1 June 2008 as compared to net profit of Rs 239 crore in Q1 June 2007, hit by an increase in raw material costs and purchase of traded goods. Revenues rose 61.2% to Rs 39569 crore in Q1 June 2008 over Q1 June 2007.
Neyveli Lignite Corporation’s net profit rose 1.58% to Rs 285.83 crore on 33.6% growth in total income to Rs 1237.62 crore in Q1 June 2008 over Q1 June 2007.
TVS Motor Company reported 7% fall in profit after tax to Rs 7.02 crore on 15.3% growth in revenue to Rs 924.74 crore in Q1 June 2008 over Q1 June 2007.
Bosch reported 33.7% growth in profit to Rs 219.72 crore on 19.7% growth in total income to Rs 1335.67 crore in Q1 June 2008 over Q1 June 2007.
EIH reported 3.56% growth in net profit to Rs 38.01 crore on 9.49% growth in total income to Rs 255.78 crore in Q1 June 2008 over Q1 June 2007.
Titagarh Wagons said on Monday, 28 July 2008, it had worth a Rs 200-crore order for manufacturing of 900 wagons. The company said its outstanding order book stood at a little over Rs 1000 crore as on 30 June 2008.
Cinemax India said on Monday, its board has its board had approved setting up of a wind power project. The board has also approved issue of securities, the company said.
Ashok Leyland said on Monday it was developing a new range of trucks for global markets. The company will begin the rollout of a new range of "Unitruck" 16-49 tonne trucks from 2010, the company said. These trucks will meet the demand for various applications in local and global markets, it said, and also feature a new family of 6-cylinder engines.