CapitalMarket.com - Cummins India leads gainers in 'A' group
Hot Pursuit Thursday, August 02, 2012 16:23 Hrs IST

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Cummins India leads gainers in 'A' group

United Spirits, Bharat Electronics, Castrol India and Ashok Leyland are among the other gainers.

Cummins India jumped 6.79% to Rs 467.35 and topped the gainers in the BSE's 'A' group. The company's net profit rose 1.9% to Rs 180.55 crore on 21.79% growth in income from operations to Rs 1258.75 crore in Q1 June 2012 over Q1 June 2011. The company announced the results during trading hours today, 2 August 2012.

Cummins India's core operating profit margin (OPM) rose to 18.46% in Q1 June 2012 from 16.82% in Q1 June 2011. The muted growth in the company's bottom line was due to base effect. The company's bottom line in Q1 June 2011 was boosted by exceptional one time profit of Rs 51.44 crore on sale of the company's entire stake in its joint venture (JV) Cummins Exhaust India to its US based parent firm.

United Spirits surged 5.68% to Rs 849.80 and was second biggest gainer in 'A' group. The company had reported strong sequential earnings in Q1 June 2012 after market hours on Friday, 27 July 2012. Its net profit galloped 1348.05% to Rs 144.95 crore on 10.44% growth in net sales to Rs 2057.29 crore in Q1 June 2012 over Q4 March 2012.

Bharat Electronics spurted 5.27% to Rs 1285.55 and was third biggest gainer in 'A' group. The stock had spurted 5.04% on Wednesday, 1 August 2012 after rising 1.26% on Tuesday, 31 July 2012. It had slumped 6.86% on Monday, 30 July 2012 after net profit dropped 84.26% to Rs 19.32 crore on 15.3% decline in net sales to Rs 779.21 crore in Q1 June 2012 over Q1 June 2011. The result was announced during market hours on Monday, 30 July 2012.

Castrol India gained 5.02% to Rs 586.25 after scaling a record high of Rs 589.90 in intraday trade today, 2 August 2012. It was fourth biggest gainer in 'A' group. The company's board last month announced a liberal 1:1 bonus. The stock extended four-day 5.33% gain. The stock rose on volume of 1.59 lakh shares, higher than an average daily volume of 29,000 shares in the past two weeks.

Ashok Leyland advanced 4.31% to Rs 23 after total sales rose 25% to 9,785 units in July 2012 over July 2011. It was fifth biggest gainer in 'A' group. Ashok Leyland's commercial vehicle sales (excluding Dost) fell 11% to 6,982 units in July 2012 from July 2011. The company sold 2,803 units of light commercial vehicle Dost which was launched in September last year.

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