Stock Markets

Apple reports lower-than-expected iPhone sales; stock slips

Apple reports lower-than-expected iPhone sales; stock slips

Cupertino, Calif.-based Apple Inc has reported lower-than-expected iPhone sales for the Christmas quarter, despite a whopping jump of 67 per cent in the Chinese market.

The tech giant announced that it sold 47.8 million iPhones in the three months through December 29. The reported figure is considerably lower than analysts' forecast average of nearly 50 million.

Revenue grew 18 per cent the quarter year-on-year to $54.5 billion, down from analysts forecast average of 54.9 billion, while profits remained flat on the previous year at $13.1 billion.

TCS shares rally on better-than-expected Q3 results

TCS shares rally on better-than-expected Q3 results

Stock in Tata Consultancy Services (TCS) gained around 5 per cent to Rs 1,400 on National Stock Exchange (NSE) in opening trades on Tuesday after the software giant reported better-than-expected results for the third quarter of the current fiscal.

TCS announced that its consolidated net profit jumped 1 per cent quarter-on-quarter to Rs 3,552 crore in the three months through December 2012. On year-on-year basis, consolidated net profit jumped by a whopping 23 per cent.

Infosys posts better-than-expected Q3 results, stock jumps

Infosys posts better-than-expected Q3 results, stock jumps

Stock in Infosys gained more than 12 per cent to around Rs 2600 a share in the early Friday trading, after the Indian Information Technology giant surprised the investors by reporting better than expected third-quarter results.

Infosys announced an increase of 12 per cent in revenue for the October-December quarter year-on-year. The IT firm reported revenue of 104.24 billion rupees, against 93 billion in the corresponding period of the previous year.

Stock in Dr Reddy's Lab jumps after Finasteride tablets’ launch in US

Stock in Dr Reddy's Lab jumps after Finasteride tablets’ launch in US

Stock in Dr Reddy's Laboratories gained as much as 2.7 per cent to Rs 1,886.80 a share on the Bombay Stock Exchange (BSE) on Thursday, after the drug firm announced the launch of its generic Finasteride tablets in the American market.

Dr Reddy's Laboratories announced that it had launched Finasteride tablets, for treating male pattern hair loss, in the strength of 1 mg in the U. S. market on January 2 after regulators approved its abbreviated new drug application
(ANDA) with 180-day of marketing exclusivity.

BofA-ML raises target price for Tata Motors by 26% to Rs 360

BofA-ML raises target price for Tata Motors by 26% to Rs 360

Bank of America Merrill Lynch raised its target price for Tata Motors stock by 26 per cent to Rs 360, and upgraded the stock from `neutral' to `buy', thanks to the strong performance by the auto giant's luxury brand Jaguar Land Rover (JLR) in 2012.

Among the 30-share SENSEX stocks, Tata Motors was the best performer in 2012. According to the recently released figures, Tata Motors sold a total of 47,515 commercial vehicles, 37,649 light commercial vehicles and 9,866 medium & heavy commercial vehicles in December.

Wipro shareholders approve demerger

Wipro shareholders approve demerger

The shareholders of Indian IT giant, Wipro have given their final approval to demerge the company's IT and non It business in order to be able to better manage the operations.

The shareholders of the company met at the company's Electronic City, Campus in Bangalore to discuss and determine the fate of a proposed demerger of the company. About 393 shareholders were present at the extraordinary general meeting on Friday.

Indian Market Flat; Tata Motors, Tata Steel Gain

Indian Market Flat; Tata Motors, Tata Steel Gain

Indian Stock Market opened flat on Thursday after yesterday's rally. The stock indices were marginally higher with BSE Sensex at 19431 and NSE Nifty at 5907 at 10.12 AM IST. Among major gainers were Axis Bank and Tata Motors.

Asian markets were positive with Nikkei continuing from yesterday's upside movement. Nikkei 225 was up by nearly a per cent at 10314. Hang Seng was up by 0.42% at 22636 and Straits Times was marginally higher at 3185.

USD was little weaker in today's trade. USD-INR was trading at 54.78. Euro-INR was trading at 72.48. Pound-INR was trading at 88.39.

Yen falls to 20-month low as Japan ushers in a new premier

Yen falls to 20-month low as Japan ushers in a new premier

The Yen slipped to a twenty-month low against the US dollar on Wednesday, as Shinzo Abe, who is eager to take drastic stimulus steps to pull the economy out of deflation, takes over as Japan's new prime minister.

Shinzo Abe, whose party won recorded a massive win in elections earlier in December, will swear in as Japan's premier today. He has plans to pursue a blend of aggressive monetary policy easing and massive fiscal spending to help the country's economy beat deflation.

Indian Market Ends Flat Before Christmas

Indian Market Ends Flat Before Christmas

Indian Stock Market ended the day flat on Monday. The BSE Sensex closed 13 points higher at 19255 while NSE Nifty closed 8 points higher at 5855. Major gainers in today’s trade were Tata Motors, DLF and Wipro.

Among major losers were Jindal Steel, ONGC, Maruti Suzuki and UltraTechCement. Cement counters have been facing pressure as sales volumes were lower during the past three months. In north India, the issue with supply of other building material has resulted in lower sales of cement. This has resulted in price pressure on cement.

Stock in eBay jumps on better-than-expected profit

Stock in eBay jumps on better-than-expected profit

Stock in eBay Inc yesterday jumped 6.9 per cent to $38.35 in extended trading, and at one point, hit its highest level of $38.83 since late 2007, after it the e-commerce firm reported better-than-expected rises in quarterly profit and sales.

The e-commerce firm said it earned a profit of $725 million, or 55 cents a share, during the first three months of this year. The profit is considerably up from $619 million or 47 cents a share in the year ago period.

Revenue jumped 29 per cent to settle at $3.3 billion during the same period of time.