Tech Mahindra jumped 5.78% to Rs 761.70 and topped the gainers in the BSE's 'A' group. Shares of Mahindra Satyam, in which Tech Mahindra though Venturbay Consultants owned 42.64% stake as at end 30 June 2012, jumped 6.34% to Rs 88.95 after scaling a 52-week high of Rs 91.85 in intraday trade today, 3 August 2012. Mahindra Satyam after market hours on Thursday, 2 August 2012 said consolidated earnings before interest, taxation, deprecation and amortization jumped 39.8% to Rs 408 crore in Q1 June 2012 over Q4 March 2012.
Mahindra Satyam in a statement said that the merger of Tech Mahindra and Mahindra Satyam announced on 21 March 2012 is progressing on schedule.
MRF surged 5.62% to Rs 10,348.75 and was second biggest gainer in 'A' group. The stock underperformed the market over the past one month till 2 August 2012, falling 3.46% compared with the Sensex's 1% fall. The scrip also underperformed the market in past one quarter, sliding 13.01% as against Sensex's 0.45% fall.
Oracle Financial Services Software spurted 5.60% to Rs 2,774.85 and was third biggest gainer in 'A' group. The company's consolidated net profit jumped 90.33% to Rs 368.10 crore on 9.71% growth in revenue to Rs 946.33 crore in Q1 June 2012 over Q4 March 2012. The result was announced after market hours on Thursday, 2 August 2012.
Commenting on the first quarter performance, Chet Kamat, Managing Director and Chief Executive Officer, Oracle Financial Services Software said, Our product revenues grew 48% over the corresponding quarter year-over-year driven by our strong execution and new strategic customer wins. We signed $19 million new license fees posting an increase of 46% over the license fee signed in the corresponding quarter. This performance is a testimonial to the breadth of our product capability and our success with customers across regions both directly and through our partner eco-systems.
Commenting on the Q1 results, Makarand Padalkar, Chief Financial Officer, Oracle Financial Services Software said, In the tough and uncertain market environment, we maintained strong discipline and delivered robust operating performance on all parameters. The operating margin for the quarter was 39% registering an eight percentage point increase. Strong collection helped ensure the days of sales outstanding (DSO) reduce to 76 days at the end of the quarter.
Glenmark Pharmaceuticals gained 5.44% to Rs 408.70 after scaling a 52-week high of Rs 413 in intraday trade today, 3 August 2012. It was fourth biggest gainer in 'A' group. Glenmark Pharmaceuticals' management said the firm is witnessing good growth in its businesses across geographies and it is confident of maintaining this trajectory in the coming quarters.
Glenmark Pharmaceuticals' (GPL) consolidated net profit plunged 62.47% to Rs 78.27 crore on 19.83 % growth in revenue to Rs 1040.40 crore in Q1 June 2012 over Q1 June 2011. GPL said net profit for the quarter is not comparable due to out-licensing income of Rs 111.23 crore received in Q1 June 2011 and also due to marked-to-market (MTM) losses to the extent of Rs 55 crore recorded in Q1 June 2012. The company announced the first quarter results after market hours on Thursday, 2 August 2012.
Commenting on the first quarter results, Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals said, Both our generics and specialty business registered good growth. The US business did exceptionally well recording a growth in excess of 55% on the back of product launches in niche competition categories while the India business performed well and gained market share in focus segments. We are witnessing good growth in our businesses across geographies and are confident of maintaining this trajectory in the coming quarters.
Castrol India advanced 3.04% to Rs 604.10 after striking a record high of Rs 606.80 in intraday trade today, 3 August 2012. The company's board last month announced a liberal 1:1 bonus. It was fifth biggest gainer in 'A' group.