Top private refiner and petrochemical firm, Reliance Industries Ltd., posted a 14 percent rise in quarterly profit, above forecasts, on strong refining margins and said it was upbeat about the outlook.
Reliance said it got 65 percent of its revenue in the quarter from the refinery, with exports at $2.84 billion.
Net profit rose to 28.53 billion rupees ($698 million) in its fiscal fourth-quarter to end-March, from 25.02 billion rupees in the same period a year earlier, it said.
Full-year net profit grew 20 percent to 109.08 billion rupees while net turnover rose 30 percent to 1.05 trillion rupees.
Indian state-run explorer Oil and Natural Gas Corp. is firming up a proposal to buy up to 33 percent in an Egyptian deepwater gas block from operator Royal Dutch Shell, sources said on Thursday.
Deccan Aviation Ltd., which runs budget airline Air Deccan, on Thursday reported a net loss of 2.13 billion rupees in the quarter to March 2007 on net income of 4.38 billion rupees.
The rupee came off a fresh nine-year high on Thursday as oil refiners bought dollars to pay for imports, but traders said they expected the Indian unit to strengthen in the near term.
The rupee ended at 40.895/905 per dollar, off an intraday peak of 40.60 - its highest since May, 1998. It had closed at 40.90/91 on Wednesday.
The broader market was negative, with 1,460 losers beating 1,086 gainers on volume of 256.4 million shares.The 50-share NSE index gained 0.25 percent to 4,177.85 points, not far below its record high of 4,245.30 hit on Feb. 8.
STOCKS THAT MOVED
* Steel pipe maker PSL Ltd. rose 7.7 percent to 222.45 rupees after the company said it received orders totalling 10.45 billion rupees in April for onshore and offshore projects.
* Soda ash and textiles firm GHCL Ltd. fell 10 percent to 165.15 rupees after the market regulator barred some founder group firms from dealing in its shares due to "abnormal dealings" between November 2006 and March 2007.
* Financial services firm Cholamandalam DBS Finance Ltd. was up 10 percent at 115.05 rupees after its January-March net profit more than trebled to 154.9 million rupees.
TOP THREE BY VOLUME
* IFCI Ltd. on 14.1 million shares
* Orbit Corp. Ltd. on 9 million shares
* Reliance Natural Resources on 8.2 million shares
Reliance said it got 65 percent of its revenue in the quarter from the refinery, with exports at $2.84 billion.
Net profit rose to 28.53 billion rupees ($698 million) in its fiscal fourth-quarter to end-March, from 25.02 billion rupees in the same period a year earlier, it said.
Full-year net profit grew 20 percent to 109.08 billion rupees while net turnover rose 30 percent to 1.05 trillion rupees.
Indian state-run explorer Oil and Natural Gas Corp. is firming up a proposal to buy up to 33 percent in an Egyptian deepwater gas block from operator Royal Dutch Shell, sources said on Thursday.
Deccan Aviation Ltd., which runs budget airline Air Deccan, on Thursday reported a net loss of 2.13 billion rupees in the quarter to March 2007 on net income of 4.38 billion rupees.
The rupee came off a fresh nine-year high on Thursday as oil refiners bought dollars to pay for imports, but traders said they expected the Indian unit to strengthen in the near term.
The rupee ended at 40.895/905 per dollar, off an intraday peak of 40.60 - its highest since May, 1998. It had closed at 40.90/91 on Wednesday.
The broader market was negative, with 1,460 losers beating 1,086 gainers on volume of 256.4 million shares.The 50-share NSE index gained 0.25 percent to 4,177.85 points, not far below its record high of 4,245.30 hit on Feb. 8.
STOCKS THAT MOVED
* Steel pipe maker PSL Ltd. rose 7.7 percent to 222.45 rupees after the company said it received orders totalling 10.45 billion rupees in April for onshore and offshore projects.
* Soda ash and textiles firm GHCL Ltd. fell 10 percent to 165.15 rupees after the market regulator barred some founder group firms from dealing in its shares due to "abnormal dealings" between November 2006 and March 2007.
* Financial services firm Cholamandalam DBS Finance Ltd. was up 10 percent at 115.05 rupees after its January-March net profit more than trebled to 154.9 million rupees.
TOP THREE BY VOLUME
* IFCI Ltd. on 14.1 million shares
* Orbit Corp. Ltd. on 9 million shares
* Reliance Natural Resources on 8.2 million shares
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