Market Commentary Thursday, July 19, 2012 08:58 Hrs IST

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STOCK ALERT

Maruti Suzuki may slide on buzz of violence at Manesar plant

Maruti Suzuki India will be watched on reports that fresh trouble broke out at the company's plant at Manesar on Wednesday, 18 July 2012, after workers set portions of the plant on fire and resorted to vandalism over suspension of a fellow worker. An unidentified charred body was found on the premises by fire-fighters after the blaze was put out late in the evening. The incident left 40 persons injured, reports added. Maruti suffered losses last year when workers had gone on an indefinite strike to form an independent union at the same plant.

Hero MotoCorp, Kotak Mahindra Bank and Dr Reddy's Laboratories will declare their Q1 June 2012 quarter results today, 19 July 2012.

L&T Finance Holdings, Dish TV India, NIIT Technologies, Tata Sponge Iron, BOC India and D B Corp, among others, will declare their April-June 2012 quarter results today, 19 July 2012.

Telecom stocks will be in focus after the Empowered Group of Ministers (EGoM) headed by home minister P Chidambaram in a meeting on Wednesday, 18 July 2012, reportedly made it mandatory for telecom operators to roll out services in 30% of block-level headquarters within five years of acquiring spectrum. However, the decision on the reserve price of 2G spectrum was yet again deferred to its next meeting, which the Department of Telecom secretary R Chandrasekaran confirmed would take place on Friday, 20 July 2012, reports suggested.

Asian Paints informed that net profit of Berger International (BIL) rose 11.01% to Rs 2.52 crore on 1.42% increase in total revenues to Rs 126.55 crore in the quarter ended June 2012 over the quarter ended June 2011. Berger International (BIL), Singapore, is listed on the Singapore Stock Exchange Limited. BIL is an indirect subsidiary of Asian Paints. BIL, Singapore, has no operations in India.

Power equipment makers like Bhel and L&T will be watched on reports the Cabinet is likely to discuss today, 19 July 2012, a proposal to impose 21% duty on imported power equipments. According to reports, the duty structure likely to be cleared will include 5% import duty, 12% countervailing duty (CVD) and 4% special additional duty (SAD). The move is expected to create a level playing field for domestic power equipment producers like Bhel and L&T.

Consolidated net profit of CRISIL fell 1.67% to Rs 43.70 crore on 7.96% increase in total income to Rs 226.10 crore in Q2 June 2012 over Q2 June 2011.

Dewan Housing Finance Corporation turns ex-dividend today, 19 July 2012, for dividend of Rs 3.50 per share for the year ended 31 March 2012 (FY 2012).

Karur Vysya Bank turns ex-dividend today, 19 July 2012, for dividend of Rs 14 per equity share for FY 2012.

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