Stocks To Watch: NTPC, Camlin, IOC, Tata Communications, Provogue
Tuesday, May 31 - Morning brief for the stock market:
.
.
BIG PICTURE
* Subbarao overruled RBI technical panel majority on policy rate hike. (NW18)
* Talks between government and civil society activists on the draft
Lokpal Bill almost broke down Monday after an attempt was made to
bring the Prime Minister
and higher judiciary under the purview of the Lokpal. (var)
.
.
TOP EVENTS TODAY
.
* Jan-Mar earnings to be detailed by: Alkyl Amines Chemicals, BEML,
Hilton Metal Forging, Omega Interactive Technologies, Rama Pulp &
Papers, and Rasi
Electrodes.
.
* Board Meetings of:
+ BAMPSL Securities to consider dates for rights share issue.
+ Sterling Biotech to consider dividend.
.
.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, May 30: FII 2.53, DII (0.50)
* Institutional net buy/(sale) in bln rupees, May 27: FIIs 2.54, MF 2.86
* FII NSE futures net buy/(sale) in bln rupee, May 30: index (2.25), shr (0.09)
* Sensex 18232.06, down 34.04 points; Nifty 5473.10, down 3.00 points
* Crude: $100.59/bbl; Rupee: 45.08/$1; Gold: $1,538.70/ounce; 10-yr yld: 8.4316%
.
.
OUTLOOK
* Share indices are likely to open firm tailing gains in Asian markets
amid optimism European officials may sanction further aid to
debt-ridden Greece, but estimates of gross domestic product growth
would lend direction later in the session.
.
.
GLOBAL STOCK MARKETS
* US: US stock markets were shut on Monday for Memorial Day holiday.
.
* ASIA: Key Asian markets were up today amid optimism European
officials will clear more aid for Greece, with Japan's Nikkei
advancing on the back of industrial production data for April.
.
.
SECTOR NEWS
.
* AGRICULTURE: Government is set to announce 15-17% hike in the
minimum support prices of most crops to be planted during the ensuing
kharif season to
compensate farmers for higher cultivation costs. (BL)
.
* AUTOMOBILE: Germany's OBO Bettermann plans to invest 1.5 bln rupees
to set up a manufacturing facility at Oragadam, near Chennai. (BL)
.
* BANKING: Reserve Bank of India has clarified villages with
population of over 2,000 are open to all banks for business
development and expansion. (var)
.
* EDUCATION: Government to spend around 1 bln rupees a year on
advertising to popularise vocational education and reduce shortfall of
skilled workers. (Mint)
.
* ENERGY: Iran has expressed optimism over resolving crude oil payment
issue with India.
India's petroleum regulator has proposed that part of gas
allocated for power plants be used for city gas distribution projects
for which investments of
around 900 bln rupees are in the pipeline. (ET)
Government expects to pay out another 150-200 bln rupees of
petroleum subsidy in 2011-12 (Apr-Mar). (DNA)
.
* EXCHANGES: National Stock Exchange has moved Delhi High Court in a
matter under which it has been charged with abuse of its dominant
position in the
currency derivatives segment by the Competition Commission of India. (var)
.
* FOREIGN RELATIONS: German Chancellor Angela Merkel is arriving on a
day-long visit to Delhi today.
.
* GOVERNMENT: Mauritius government has assured the Central Bureau of
Intelligence and Enforcement Directorate that it will be able to
ferret out information on the ownership and financial pattern of
Delphi investment and Loop Telecom within a month. (ET)
Government's plan to offer a unique identification number to every
Indian may get a fillip as life Insurance Corp of India has said it is
ready to offer unique identification cards to its policyholders. (BS)
.
* INFRASTRUCTURE: International Finance Corp is set to extend a loan
of $5 mln to Hyderabad-based Vishwa Infrastructures & Services backed
by Axis Private Equity. (FC)
.
* MINING: Several mines in north Karnataka, which supply high-grade
iron ore to major international and domestic steel companies, have
been given a fresh lease
with the state government allowing them to resume operations and
transport ore. (BL)
.
* POWER: Companies have expressed concerns over government's proposal
of "pooling" international and domestic coal prices to sell the raw
material at
a uniform price to customers. (BS)
.
* REGULATOR: Securities and Exchange Board of India may restore the
controversial G Mohan Gopal report on the initial public offer scam.
(BS)
.
* SHIPPING: Andhra Pradesh has approached Prime Minister's Office
seeking to build another big-size port in the state to accelerate its
economic development.
(ET)
.
* STEEL: Sterlite Group is the lone bidder for the proposed
11-bln-rupee iron ore export terminal at Mormugao Port in Goa. (BL)
JSW STEEL, STEEL AUTHORITY OF INDIA and Essar Steel are planning
to raise product prices by 500 to 750 rupees from June 1. (FC)
.
* TAXATION: With doubts being raised about the government's ability to
meet its fiscal deficit target, Home Minister P. Chidambaram has
proposed imposition of consumption and inheritance taxes. (BS)
.
* TELECOMMUNICATIONS: The Joint Parliamentary Committee examining the
2G scam has questioned Comptroller and Auditor General Vinod Rai to
know how he quantified the "notional loss" of 1.76 trln rupees in
allotment of spectrum.
Former telecommunications minister A. Raja plans to apply for bail
for the first time and argue his own case. (ET)
A special court on Monday denied bail to Karim Morani, director of
Cineyug Media and Entertainment Pvt Ltd, who is accused in the 2G
spectrum allocation
scam. (var)
.
.
STOCKS
.
* A2Z MAINTENANCE: Has posted 2010-11 (Apr-Mar) consolidated net
profit at 771.18 mln rupees, net sales at 13.44 bln rupees.
.
* ABG SHIPYARD: Has posted Jan-Mar net profit at 406.7 mln rupees and
net sales 5.32 bln rupees.
.
* ACKRUTI CITY: Has posted net profit of 1.71 bln rupees for 2010-11
(Apr-Mar) and net sales at 4.26 bln rupees.
.
* ADITYA BIRLA NUVO: Has posted net profit at 3.80 bln rupees for
2010-11 (Apr-Mar) and net sales 62.83 bln rupees.
Plans capital expenditure of 5.89 bln rupee by the end of 2012-13
to enhance operating margins. (BL)
.
* AHLUWALIA CONTRACTS: Has posted 2010-11 (Apr-Mar) consolidated net
profit at 720.53 mln rupees, net sales at 17.29 bln rupees.
.
* BERGER PAINTS: Has posted Jan-Mar consolidated net profit at 338 mln
rupees and net sales at 5.87 bln rupee.
.
* CARIN INDIA: Vedanta Resources may renegotiate offer to buy stake in
company if it accepts government's condition on cost recoverability of
Rajasthan
oilfield. (BS)
.
* CAMLIN: Has announced a strategic partnership with Japan's Kokuyo
Co, wherein the latter will acquire a 50.3% stake in the Mumbai-based
stationery
products maker in three tranches.
.
* CHOKSI IMAGING: Cancels rights issue on "changed circumstances".
To pay 1.50 rupees per share dividend.
.
* CUMMINS INDIA: Has posted Jan-Mar net profit at 1.44 bln rupees on
net sales 10.1 bln rupees.
.
* D.B. REALTY: Has deferred its board meet to approve annual financial
results by at least 10 days, indicating auditors may be clashing with
management over
financial numbers. (BS)
.
* DEVELOPMENT CREDIT BANK: Gets RBI approval to open 10 branches.
.
* GEODESIC: Is in talks to buy a US-based mobile payments firm and
hopes to close the deal by August. (DNA)
.
* GODREJ INDUSTRIES: Has posted Jan-Mar net profit at 506.4 mln rupees
and net sales at 3.11 bln rupees.
.
* HINDALCO INDUSTRIES: Is facing cost overruns on its ongoing
expansion projects that have been delayed, but the company exuded
bullish vibes on
future demand for aluminium, despite global inventory levels going up.
.
* HINDUSTAN UNILEVER: Four senior executives of company have resigned
over past few months. (var)
.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: Plans to cut total debt by
one-fourth by 2011-12 (Apr-Mar) end. (BS)
.
* INDRAPRASTHA GAS: Has posted net profit of 2.60 bln rupees for
2010-11 (Apr-Mar) on net sales of 17.44 bln rupees.
.
* INDIAN OIL CORP: May raise petrol prices by 1.35 rupees per ltr. (ET)
.
* JET AIRWAYS: Has signed a deal with Arab Air Carriers Organisation
to partner in various joint projects in areas such as fuel management
ground
service, safety initiative and training.
.
* JK PAPER: Issues foreign currency convertible bonds worth 35 mln
euros to global investors to partially fund capacity expansion. (ET)
.
* JYOTHY LABORATORIES: To raise up to 5 bln rupees via qualified
institutional placement of shares.
.
* MARUTI SUZUKI INDIA: Managing Director Shinzo Nakanishi may meet
Gujarat Chief Minister Narendra Modi today on a likely plan to set up
a production
facility in the state. (BS)
.
* NATIONAL ALUMINIUM CO: Has posted Jan-Mar net profit at 3.05 bln
rupee on net sales of 17.87 bln rupees.
.
* NAVA BHARAT VENTURES: Is set to sign a pact with TATA STEEL for
supply of ferrochrome, which will impact NAVA BHARAT's topline
positively. (DNA)
.
* NTPC: To raise at least $500 mln via a dollar denominated issue.
(DNA) Has approached the Indian Railways for a sharp reduction in
freight rate
for coal ash. (FE)
.
* OIL AND NATURAL GAS CORP: Has reported a 26.1% on year decline in
its Jan-Mar net profit due to impact of higher payouts to state-owned
oil
marketing companies.
ONGC may move court over royalty payments for Rajasthan oilfield
irrespective of the outcome of Vedanta Resources' bid to buy Cairn
India
that operates the field. (ET)
Arm ONGC Videsh plans to bid for less than 20% stake in an
upcoming hydrocarbon block of Russia's OAO Novatek. (Mint)
.
* OIL INDIA: Has posted Jan-Mar net profit of 5.63 bln rupees on net
sales of 20.19 bln rupees. Net realisation in the reporting quarter
was at $58 per
barrel.
.
* OMAXE: Has posted 2010-11 (Apr-Mar) consolidated net profit at 927.1
mln rupees, and net sales at 15.2 bln rupees.
Has repaid loans worth 5.8 bln rupees in 2010-11, and aims to cut
its debt to equity ratio to 0.7:1 before March.
.
* PARSVNATH DEVELOPERS: Has posted a 19% on-year decline in
consolidated net profit for Jan-Mar at 281 mln rupees due to lower
sales.
.
* PROVOGUE (INDIA): Has posted 2010-11 (Apr-Mar) consolidated net
profit at 261.78 mln rupees, and net sales at 6.61 bln rupees.
.
* PSL: Will diversify into port construction business and has been
awarded a contract by the Gujarat government to build a jetty at
Kandla port. (BS)
.
* RELIANCE CAPITAL: Has posted consolidated net profit of 2.91 bln
rupees for 2010-11 (Apr-Mar) on income of 53.3 bln rupees.
.
* RELIANCE COMMUNICATIONS: Has posted consolidated net profit of 13.5
bln rupees for 2010-11 (Apr-Mar), and net income from operations of
220.89 bln rupees.
.
* S. KUMARS NATIONWIDE: Has posted a consolidated net profit at 3.31
bln rupees for 2010-11 (Apr-Mar) on net sales of 51.81 bln rupees.
.
* SHIPPING CORP OF INDIA: Has posted Jan-Mar net loss at 61.7 mln
rupees, and net income at 8.6 bln rupees.
.
* STATE BANK OF INDIA: To mitigate risk on agriculture portfolio by
buying insurance cover for all crop loans. (Mint)
.
* SUNDARAM FINANCE: Sees slowdown in growth in 2011-12 (Apr-Mar), in
line with slower growth forecast for automotive industry. (ET)
.
* TATA COMMUNICATIONS: Plans to spend at least $400 mln-$450 mln as
capital expenditure in 2011-12 (Apr-Mar). (BS)
.
* TELEVISION EIGHTEEN: Has sharply narrowed its consolidated net loss
during 2010-11 (Apr-Mar) to 201.12 mln rupees, down 82.84% on year,
driven mainly by a strong revenue growth.
.
* TV TODAY NETWORK: Has posted Jan-Mar net profit at 95.03 mln rupees,
and net sales at 843.47 mln rupees.
.
* UTTAM GALVA STEELS: Has posted Jan-Mar net profit at 140.6 mln
rupees on net sales of 16.3 bln rupees.
Tuesday, May 31 - Morning brief for the stock market:
.
.
BIG PICTURE
* Subbarao overruled RBI technical panel majority on policy rate hike. (NW18)
* Talks between government and civil society activists on the draft
Lokpal Bill almost broke down Monday after an attempt was made to
bring the Prime Minister
and higher judiciary under the purview of the Lokpal. (var)
.
.
TOP EVENTS TODAY
.
* Jan-Mar earnings to be detailed by: Alkyl Amines Chemicals, BEML,
Hilton Metal Forging, Omega Interactive Technologies, Rama Pulp &
Papers, and Rasi
Electrodes.
.
* Board Meetings of:
+ BAMPSL Securities to consider dates for rights share issue.
+ Sterling Biotech to consider dividend.
.
.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, May 30: FII 2.53, DII (0.50)
* Institutional net buy/(sale) in bln rupees, May 27: FIIs 2.54, MF 2.86
* FII NSE futures net buy/(sale) in bln rupee, May 30: index (2.25), shr (0.09)
* Sensex 18232.06, down 34.04 points; Nifty 5473.10, down 3.00 points
* Crude: $100.59/bbl; Rupee: 45.08/$1; Gold: $1,538.70/ounce; 10-yr yld: 8.4316%
.
.
OUTLOOK
* Share indices are likely to open firm tailing gains in Asian markets
amid optimism European officials may sanction further aid to
debt-ridden Greece, but estimates of gross domestic product growth
would lend direction later in the session.
.
.
GLOBAL STOCK MARKETS
* US: US stock markets were shut on Monday for Memorial Day holiday.
.
* ASIA: Key Asian markets were up today amid optimism European
officials will clear more aid for Greece, with Japan's Nikkei
advancing on the back of industrial production data for April.
.
.
SECTOR NEWS
.
* AGRICULTURE: Government is set to announce 15-17% hike in the
minimum support prices of most crops to be planted during the ensuing
kharif season to
compensate farmers for higher cultivation costs. (BL)
.
* AUTOMOBILE: Germany's OBO Bettermann plans to invest 1.5 bln rupees
to set up a manufacturing facility at Oragadam, near Chennai. (BL)
.
* BANKING: Reserve Bank of India has clarified villages with
population of over 2,000 are open to all banks for business
development and expansion. (var)
.
* EDUCATION: Government to spend around 1 bln rupees a year on
advertising to popularise vocational education and reduce shortfall of
skilled workers. (Mint)
.
* ENERGY: Iran has expressed optimism over resolving crude oil payment
issue with India.
India's petroleum regulator has proposed that part of gas
allocated for power plants be used for city gas distribution projects
for which investments of
around 900 bln rupees are in the pipeline. (ET)
Government expects to pay out another 150-200 bln rupees of
petroleum subsidy in 2011-12 (Apr-Mar). (DNA)
.
* EXCHANGES: National Stock Exchange has moved Delhi High Court in a
matter under which it has been charged with abuse of its dominant
position in the
currency derivatives segment by the Competition Commission of India. (var)
.
* FOREIGN RELATIONS: German Chancellor Angela Merkel is arriving on a
day-long visit to Delhi today.
.
* GOVERNMENT: Mauritius government has assured the Central Bureau of
Intelligence and Enforcement Directorate that it will be able to
ferret out information on the ownership and financial pattern of
Delphi investment and Loop Telecom within a month. (ET)
Government's plan to offer a unique identification number to every
Indian may get a fillip as life Insurance Corp of India has said it is
ready to offer unique identification cards to its policyholders. (BS)
.
* INFRASTRUCTURE: International Finance Corp is set to extend a loan
of $5 mln to Hyderabad-based Vishwa Infrastructures & Services backed
by Axis Private Equity. (FC)
.
* MINING: Several mines in north Karnataka, which supply high-grade
iron ore to major international and domestic steel companies, have
been given a fresh lease
with the state government allowing them to resume operations and
transport ore. (BL)
.
* POWER: Companies have expressed concerns over government's proposal
of "pooling" international and domestic coal prices to sell the raw
material at
a uniform price to customers. (BS)
.
* REGULATOR: Securities and Exchange Board of India may restore the
controversial G Mohan Gopal report on the initial public offer scam.
(BS)
.
* SHIPPING: Andhra Pradesh has approached Prime Minister's Office
seeking to build another big-size port in the state to accelerate its
economic development.
(ET)
.
* STEEL: Sterlite Group is the lone bidder for the proposed
11-bln-rupee iron ore export terminal at Mormugao Port in Goa. (BL)
JSW STEEL, STEEL AUTHORITY OF INDIA and Essar Steel are planning
to raise product prices by 500 to 750 rupees from June 1. (FC)
.
* TAXATION: With doubts being raised about the government's ability to
meet its fiscal deficit target, Home Minister P. Chidambaram has
proposed imposition of consumption and inheritance taxes. (BS)
.
* TELECOMMUNICATIONS: The Joint Parliamentary Committee examining the
2G scam has questioned Comptroller and Auditor General Vinod Rai to
know how he quantified the "notional loss" of 1.76 trln rupees in
allotment of spectrum.
Former telecommunications minister A. Raja plans to apply for bail
for the first time and argue his own case. (ET)
A special court on Monday denied bail to Karim Morani, director of
Cineyug Media and Entertainment Pvt Ltd, who is accused in the 2G
spectrum allocation
scam. (var)
.
.
STOCKS
.
* A2Z MAINTENANCE: Has posted 2010-11 (Apr-Mar) consolidated net
profit at 771.18 mln rupees, net sales at 13.44 bln rupees.
.
* ABG SHIPYARD: Has posted Jan-Mar net profit at 406.7 mln rupees and
net sales 5.32 bln rupees.
.
* ACKRUTI CITY: Has posted net profit of 1.71 bln rupees for 2010-11
(Apr-Mar) and net sales at 4.26 bln rupees.
.
* ADITYA BIRLA NUVO: Has posted net profit at 3.80 bln rupees for
2010-11 (Apr-Mar) and net sales 62.83 bln rupees.
Plans capital expenditure of 5.89 bln rupee by the end of 2012-13
to enhance operating margins. (BL)
.
* AHLUWALIA CONTRACTS: Has posted 2010-11 (Apr-Mar) consolidated net
profit at 720.53 mln rupees, net sales at 17.29 bln rupees.
.
* BERGER PAINTS: Has posted Jan-Mar consolidated net profit at 338 mln
rupees and net sales at 5.87 bln rupee.
.
* CARIN INDIA: Vedanta Resources may renegotiate offer to buy stake in
company if it accepts government's condition on cost recoverability of
Rajasthan
oilfield. (BS)
.
* CAMLIN: Has announced a strategic partnership with Japan's Kokuyo
Co, wherein the latter will acquire a 50.3% stake in the Mumbai-based
stationery
products maker in three tranches.
.
* CHOKSI IMAGING: Cancels rights issue on "changed circumstances".
To pay 1.50 rupees per share dividend.
.
* CUMMINS INDIA: Has posted Jan-Mar net profit at 1.44 bln rupees on
net sales 10.1 bln rupees.
.
* D.B. REALTY: Has deferred its board meet to approve annual financial
results by at least 10 days, indicating auditors may be clashing with
management over
financial numbers. (BS)
.
* DEVELOPMENT CREDIT BANK: Gets RBI approval to open 10 branches.
.
* GEODESIC: Is in talks to buy a US-based mobile payments firm and
hopes to close the deal by August. (DNA)
.
* GODREJ INDUSTRIES: Has posted Jan-Mar net profit at 506.4 mln rupees
and net sales at 3.11 bln rupees.
.
* HINDALCO INDUSTRIES: Is facing cost overruns on its ongoing
expansion projects that have been delayed, but the company exuded
bullish vibes on
future demand for aluminium, despite global inventory levels going up.
.
* HINDUSTAN UNILEVER: Four senior executives of company have resigned
over past few months. (var)
.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: Plans to cut total debt by
one-fourth by 2011-12 (Apr-Mar) end. (BS)
.
* INDRAPRASTHA GAS: Has posted net profit of 2.60 bln rupees for
2010-11 (Apr-Mar) on net sales of 17.44 bln rupees.
.
* INDIAN OIL CORP: May raise petrol prices by 1.35 rupees per ltr. (ET)
.
* JET AIRWAYS: Has signed a deal with Arab Air Carriers Organisation
to partner in various joint projects in areas such as fuel management
ground
service, safety initiative and training.
.
* JK PAPER: Issues foreign currency convertible bonds worth 35 mln
euros to global investors to partially fund capacity expansion. (ET)
.
* JYOTHY LABORATORIES: To raise up to 5 bln rupees via qualified
institutional placement of shares.
.
* MARUTI SUZUKI INDIA: Managing Director Shinzo Nakanishi may meet
Gujarat Chief Minister Narendra Modi today on a likely plan to set up
a production
facility in the state. (BS)
.
* NATIONAL ALUMINIUM CO: Has posted Jan-Mar net profit at 3.05 bln
rupee on net sales of 17.87 bln rupees.
.
* NAVA BHARAT VENTURES: Is set to sign a pact with TATA STEEL for
supply of ferrochrome, which will impact NAVA BHARAT's topline
positively. (DNA)
.
* NTPC: To raise at least $500 mln via a dollar denominated issue.
(DNA) Has approached the Indian Railways for a sharp reduction in
freight rate
for coal ash. (FE)
.
* OIL AND NATURAL GAS CORP: Has reported a 26.1% on year decline in
its Jan-Mar net profit due to impact of higher payouts to state-owned
oil
marketing companies.
ONGC may move court over royalty payments for Rajasthan oilfield
irrespective of the outcome of Vedanta Resources' bid to buy Cairn
India
that operates the field. (ET)
Arm ONGC Videsh plans to bid for less than 20% stake in an
upcoming hydrocarbon block of Russia's OAO Novatek. (Mint)
.
* OIL INDIA: Has posted Jan-Mar net profit of 5.63 bln rupees on net
sales of 20.19 bln rupees. Net realisation in the reporting quarter
was at $58 per
barrel.
.
* OMAXE: Has posted 2010-11 (Apr-Mar) consolidated net profit at 927.1
mln rupees, and net sales at 15.2 bln rupees.
Has repaid loans worth 5.8 bln rupees in 2010-11, and aims to cut
its debt to equity ratio to 0.7:1 before March.
.
* PARSVNATH DEVELOPERS: Has posted a 19% on-year decline in
consolidated net profit for Jan-Mar at 281 mln rupees due to lower
sales.
.
* PROVOGUE (INDIA): Has posted 2010-11 (Apr-Mar) consolidated net
profit at 261.78 mln rupees, and net sales at 6.61 bln rupees.
.
* PSL: Will diversify into port construction business and has been
awarded a contract by the Gujarat government to build a jetty at
Kandla port. (BS)
.
* RELIANCE CAPITAL: Has posted consolidated net profit of 2.91 bln
rupees for 2010-11 (Apr-Mar) on income of 53.3 bln rupees.
.
* RELIANCE COMMUNICATIONS: Has posted consolidated net profit of 13.5
bln rupees for 2010-11 (Apr-Mar), and net income from operations of
220.89 bln rupees.
.
* S. KUMARS NATIONWIDE: Has posted a consolidated net profit at 3.31
bln rupees for 2010-11 (Apr-Mar) on net sales of 51.81 bln rupees.
.
* SHIPPING CORP OF INDIA: Has posted Jan-Mar net loss at 61.7 mln
rupees, and net income at 8.6 bln rupees.
.
* STATE BANK OF INDIA: To mitigate risk on agriculture portfolio by
buying insurance cover for all crop loans. (Mint)
.
* SUNDARAM FINANCE: Sees slowdown in growth in 2011-12 (Apr-Mar), in
line with slower growth forecast for automotive industry. (ET)
.
* TATA COMMUNICATIONS: Plans to spend at least $400 mln-$450 mln as
capital expenditure in 2011-12 (Apr-Mar). (BS)
.
* TELEVISION EIGHTEEN: Has sharply narrowed its consolidated net loss
during 2010-11 (Apr-Mar) to 201.12 mln rupees, down 82.84% on year,
driven mainly by a strong revenue growth.
.
* TV TODAY NETWORK: Has posted Jan-Mar net profit at 95.03 mln rupees,
and net sales at 843.47 mln rupees.
.
* UTTAM GALVA STEELS: Has posted Jan-Mar net profit at 140.6 mln
rupees on net sales of 16.3 bln rupees.
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