Toyota shuts 2 Production units in South india

Japanese based car maker Toyota announced that it is suspending production in two Indian car assembly units after hearing the threats against management. They were working with union officials and local government to get the new contract signed to overcome the negotiation made by employees. During this activity is progress, some section employees deliberately stopped the production and they threatened supervisors which resulted in no production for the past 25 days. So it decided to stop the production at its 2 production units in south India.

The world's leading automaker Toyota said the move will affect around 6,400 employees at the assembly units in south India.

In the lock out notice all these unlawful activities were mentioned and the company is left out with no other option apart from declaring a lock-out of the premises to make sure the safety of its employees and management personnel.

A Tokyo-based company spokesman said Toyota hoped to restart production ASAP. But he could not give a exact time for re-opening of the production units, which makes models including Camry, Corolla and Prius hybrid. These two factories located near Bangalore produces around 310,000 units annually.

Alok industires 2012 Q2 net profit Rs 289.62Crore

One of the textile company alok Industries announced its results today. As per the results they have grown around 283.02% which is Rs 289.62 cr of net profit on the Q2 ended Sept 30, compared to Q2 -2011. Last year net profit was Rs 75.61 cr in Q2 of last fiscal. In 2nd quarter of 2012, its net sales went up by 51.28% to Rs 3,324.77 cr , compared to Rs 2,197.70 cr in the same period of the last year.

“This performance is a reflection of the company’s strategy of diversifying products, markets and customers along with integrated business operations in cotton and polyester segments. We will continue its focus on improving operational parameters, exiting non-core businesses and monetizing them to reduce debt and improving cash flows,” Alok Industries Managing Director Dilip Jiwrajka said.

Exports contributed more for this quarter. Exports alone for the Q2 stood at Rs 832.97 cr, against Rs 786.99 cr in the same period of the last fiscal, registering a growth of 8.32 %.
Alok industries closed at Rs 11.83 in BSE which is 2.69% up.

Indusind bank 2012-Q1 results were up by 31%

Indusind bank has announced its first quarter (April-June 2012) on July 10,2012. It reported a 31% YoY jump in net profit at Rs 236 crore. Major contribution by higher Net Interest Income (NII) and other income growth. One of the business channel CNBC TV18 poll expected the bank to post 27% growth in net profit in Q1. But the actual results exceeded the expectations.

Net Interest Income grew 24.1% YoY to Rs 484 crore while other income shot up around 49% to Rs 319 crore during the quarter.

"The Bank has coped well in a deteriorating operating environment to deliver a healthy growth in the bottom line and balance sheet while maintaining the quality of the loan book," Romesh Sobti, managing director and CEO, IndusInd Bank said.

the bank had more of retail loans compared to corporate credit. So this retail loans also one of the key contributor for these results. As on today(July12th) the stock was trading around 341 levels. In each decline one can accumulate this stock and it will reach 360 levels soon.

NOTE: YoY - Year over Year

Reliance Capital 4th Quarter net profit of Rs. 5193.40 million

Reliance Capital Ltd has announced their results during Board of Directors meeting held on May19 and they have recommended a dividend of Rs. 7.50 per equity share.It has posted a overall net profit of Rs. 5193.40 million for the year ended March 31, 2012 and during the last quarter of last year was Rs. 2292.70 million for the year ended March 31, 2011. so this quarter net profit is Rs 2900.7 million more compared to fourth quarter of last year. Total Income has raised from Rs. 19712.60 million for the year ended March 31, 2011 to Rs. 33169.40 million for the year ended March 31, 2012.

Name: Reliance Capital
BSE Script: 500111
On may 18th, the stock got opened at 285.20 and it got closed at 290.90