Videocon net profit rises 23%

Net profit of the company rose 23.31% to Rs162.36 crore for the quarter ended December 31, 2010 as against Rs131.67 crore for the quarter ended December 31, 2009.Sales rose 12.28% to Rs3,151.17 crore for the quarter ended December 31, 2010 as against Rs2,806.56 crore for the quarter ended December 31, 2009.

For the unaudited full year, net profit reported to Rs757.29 crore for the year ended December 31, 2010. Sales reported to Rs14,677.67 crore for the year ended December 31, 2010.The company has extended the current accounting year by 3 months and the values given for the current full year ended December 2010 is for a period of 15 months. Hence, the full year is not comparable.

Phillips Carbon inks with ICICI Bank, stk up 16%

The shares of Phillips Carbon Black rose by 16%, hitting the weekly high of Rs152, on reports the company has tied up debt of $900 million from ICICI Bank for its planned bid for the carbon black business of Evonik Industries. So far, over 2.05 lakh shares have traded on the BSE as against the two-week average volume of 1.33 lakh shares

The Indian markets are heading for a quiet start as the overseas cues do not look supportive

Unitech slides 5% on poor Q3 results

Unitech dips over 5% to hit the day's low of Rs34.15 after the company's consolidated net profit down 37% in Q3FY11Unitech declined over 5% in early trade to hit the day's low of Rs34.15 after the company reported poor Q3 numbers. So far, over 31.61 lakh shares have traded on the BSE as against the two-week average volume of 102.79 lakh shares

The domestic indices ended a choppy session with modest gains to extend their winning streak that has lasted for three days now. The market remained volatile and swung wildly like a pendulum throughout the day. During the day’s session, the Nifty regained the 5500 level but it could not hold on to that level and ended the day below 5500. At the finishing line, the Sensex closed at 18270, higher by 72 points, whereas the Nifty shut shop at 5481, higher by 25 points.The benchmark indices were well supported by the heavyweights like Reliance Industries, Oil & Natural Gas Corporation, State Bank of India, ICICI Bank and National Thermal Power Corporation all of which gained 2-3% each.