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Tuesday, January 29, 2008

Q3 Results As on 29/01/2008

Maruti Suzuki Q3 net up 24%

Maruti Suzuki India today reported a 24% increase in net profit at Rs 467.04 crore for the third quarter ended December 31, 2007 when compared with Rs 376.41 crore in Q3FY07.

According to a release issued to the BSE today, total income increased to Rs 4,844.80 crore for the quarter ended December 31, 2007 from Rs 3,807.90 crore in Q3FY07.

SAIL Q3 net up 31%

Steel Authority of India (SAIL) today reported a 31.5% rise in net profit (standalone) at Rs 1,934.66 crore for the third quarter ended December 31, 2007, when compared with Rs 1,471.19 crore in the corresponding quarter a year ago.

According to a release issued by SAIL to the BSE today, total income increased 12.4% to Rs 9,847.64 crore for Q3FY08 from Rs 8,760.16 crore in the quarter ended December, 2006.

Nalco Q3 net down 43%

Nalco today announced a 42.46% dip in net profit at Rs 329.44 crore for the quarter ended December 31, 2007 as against Rs 572.60 crore in Q3FY07.

According to a release to the Bombay Stock Exchange, the company's total income decreased to Rs 1247.26 crore for the quarter ended December 31, 2007 from Rs 1546.40 crore for the quarter ended December 31, 2006.

Havells India Q3 net up 44%

Electrical and power distribution equipment company Havells India’s net profit jumped 44% to Rs 37 crore in the quarter ended December 31, 2007 as against Rs 26 crore in the corresponding quarter in the previous year.

Revenue during the third quarter also increased by 37% to Rs 535 crore as against Rs 301 crore during the corresponding quarter of the last year, the company said in a statement.

The performance of the switchgear sales continued with the healthy trend, showing a growth of 52% to Rs 141 crore from Rs 93 crores achieved in the corresponding quarter of the previous year.

The cable & wire business segment showed a growth of 28% with Rs 241 crore as against Rs 189 crore in the same period last year.

Anil Gupta, joint managing director, Havells India, said: "The quarter gone by has been remarkable for the company wherein we consolidated our market share reflected in the financial performance. This performance reflects the fundamental strengths of our business model, which is driving us towards becoming the leading player globally in the electrical product and power distribution equipment space."

Aztecsoft Q3 net down 80% at Rs 2.2cr

Aztecsoft today reported 80% dip in net profit at Rs 2.19 crore for the third quarter of 2007-08 when compared to the same period last fiscal.

The company has attributed the massive dip to certain one-time costs such as a provision of bonus due to a retrospective amendment of Payment of Bonus Act, 1965; training of campus hires and; reduction in the currency exchange rate for the quarter by 2.23%.

The revenue for the period was Rs 63.31 crore, a 11.25% dip when compared to the corresponding quarter last fiscal.

On a year-on-year basis, the revenue growth in US dollar terms was around 14%.

The company has continued to take a hit following the transfer of the Offshore Development Centre (ODC) operations of Dendrite International. The Dendrite ODC, which contributed about 10% of Aztecsoft's consolidated revenue, was acquired by Dendrite International in January 2007.

The operating profit stood at Rs 2.54 crore, a 78% decline when compared to Q3 2006-07.

On a sequential basis, the net profit declined by 68% while the revenue improved marginally by 2.1%. In US dollar terms, the revenue grew by 5% quarter-on-quarter.

Great Eastern Shipping Q3 net up 77%

Great Eastern Shipping Company today announced a 77% increase in net profit at Rs 293.57 crore for the quarter ended December 31, 2007 when compared with Rs 165.85 crore in Q3FY07.

According to a release to the Bombay Stock Exchange, the company's total income increased to Rs 744.28 crore for the quarter ended December 31, 2007 from Rs 519.85 crore for the quarter ended December 31, 2006

Eicher Motors Q3 net declines 11%

Eicher Motors registered a 11.2 % decline in net profit at Rs 15.8 crore for quarter ended December 31, 2007 as against Rs 17.8 crore in the previous quarter year-on-year (yoy).

The company's total income (net of excise) grew 11 % for the quarter amounted to Rs 554.1 crores as against a total income (net of excise) of Rs 499 crore in the previous comparable quarter. Its EBITDA for the quarter declined 3.4% at Rs 36.5 crores when compared with Rs 37.8 crores in the previous quarter.

Asian Paints Q3 net up 66%

Asian Paints today announced a 66.50% increase in net profit at Rs 118.87 crore for the quarter ended December 31, 2007 when compared with Rs 71.39 crore in Q3FY07.

According to a release to the Bombay Stock Exchange, the company's total income increased to Rs 1,190.82 crore for the quarter ended December 31, 2007 from Rs 943.27 crore for the quarter ended December 31, 2006

Posted by Srivatsan at 8:46 PM

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Understanding Short Term Trading

Before I begin, this blog is not for intraday traders. My definition of short term implies duration of around 2 to 3 months.

Short Term stock picking is no rocket science, but rather a visual interpretation of technical charts. A basic moving average on a time frame chart will show the direction of the securities movement.

Moving averages is a mathematical results calculated by averaging a number of past data points. Moving averages (MA) in it's basic form is calculated by taking the arithmetic mean of a given set of values on a rolling window of timeframe. Once the value of MA has been calculated, they are plotted onto a chart and then connected to create a moving average line. Typical moving averages used for short term trading are 50 MA and 100 MA.

Types of Moving Averages

1) Simple Moving Average (SMA)

SMA is calculated by taking the arithmetic mean of a given set of values on a rolling window of timeframe. The usefulness of the SMA is limited because each point in the data series is weighted the same, regardless of where it occurs in the sequence. Critics argue that the most recent data is more significant than the older data and should have a greater influence on the final result.

2) Exponential Moving Average (EMA)

EMA overcomes the limits of SMA, where more weight is given to the recent prices in an attempt to make it more responsive to new information. When calculating the first point of the EMA, we may notice that there is no value available to use as the previous EMA. This small problem can be solved by starting the calculation with a simple moving average and continuing on with calculating the EMA.

The primary functions of a moving average is to identify trends and reversals, measure the strength of an asset's momentum and determine potential areas where an asset will find support or resistance. Moving averages are lagging indicator, which means they do not predict new trend, but confirm trends once they have been established.

A stock is deemed to be in an uptrend when the price is above a moving average and the average is sloping upward. Conversely, a trader will use a price below a downward sloping average to confirm a downtrend. Many traders will only consider holding a long position in an asset when the price is trading above a moving average.

In general, short-term momentum can be gauged by looking at moving averages that focus on time periods of 50 days or less. Looking at moving averages that are created with a period of 50 to 100 days is generally regarded as a good measure of medium-term momentum. Finally, any moving average that uses 100 days or more in the calculation can be used as a measure of long-term momentum.

Support, resistence and stoploss can be infered by referring the closet MA below or above the market price. The other factor that is used in short term momentum is the trading volume. The moving averages along with the trading volume can provide a better insight to short term movement.

Markets are moved by their largest participants - I believe this is the single most important principle in short-term trading. Accordingly, I track the presence of large traders by determining how much volume is in the market and how that compares to average. Because volume correlates very highly with volatility, the market's relative volume helps you determine the amount of movement likely at any given time frame--and it helps you handicap the odds of trending vs. remaining slow and range bound.