Aditya Birla Group firm Grasim Industries today reported a consolidated net profit of Rs 333.61 crore for the third quarter ended December 2014. The company had posted a consolidated net profit of Rs 331.93 crore during the same period of previous financial year. We see the Upward movement in the stocks.
New Mergers- Sun Pharma, Ranbaxy at new high on USFTC conditional nod, The Sun-Ranbaxy merger now needs approval from just the Punjab and Haryana High Court. The court will be hearing on the merger on February 2. Sun Pharma had agreed to buy Ranbaxy from Japan's Daiichi Sankyo in April. Shares of both Sun Pharma and Ranbaxy jumped 3 percent each, touching all-time high of Rs 942 per share and Rs 728 respectively on Monday.
Banking Sector- If one sees over the last one month, it was the banking sector in general and PSU bank in particular that had propelled the rally. But now that is turning out as a weak point because the results of three PSU banks – Union Bank, Bank of Baroda, Oriental Bank of Commerce, continue to show stress on assets. We see the Negative movement in the constant Phase