DLF share price jumped over 4 per cent in the morning trade on Wednesday after the real estate major posted 20.58 per cent rise in its consolidated net profit figures at Rs 131.50 crore for the quarter ended September 30, 2015.

DLF share price jumped over 4 per cent in the morning trade on Wednesday after the real estate major posted 20.58 per cent rise in its consolidated net profit figures at Rs 131.50 crore for the quarter ended September 30, 2015. The company reported net profit of Rs 109.06 crore in the corresponding quarter a year ago.

At 11.52 am, DLF shares were trading 3.12 per cent up at Rs 123.90. The scrip opened at Rs 124.80 and had touched a high and low of Rs 125.60 and Rs 121.45, respectively, in trade so far.

Total income of the company decreased by 6.49 per cent at Rs 1,997.02 crore for quarter under review as compared to Rs 21,35.59 crore for the quarter ended September 30, 2014.

The company’s net profit increased despite fall in sales as its total expenses declined to Rs 1,071.13 crore from Rs 1,356.52 crore during the period under review.

Commenting on the result, DLF CFO Ashok Tyagi told PTI: “One housing project has hit the revenue recognition threshold that has contributed to the increase in net profit”.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 179 on February 4, 2015 and a 52 week low of Rs 93 on August 24, 2015.

Last one week high and low of the scrip stood at Rs 126.50 and Rs 114.65 respectively. The current market capitalisation of the company is Rs 21,869.28 crore.

The promoters holding in the company stood at 74.86 per cent, while institutions and non-institutions held 19.83 per cent and 5.30 per cent, respectively.

Jain Irrigation shares jumped as much as 4 per cent in the early trade on Wednesday after the company informed BSE that it has bagged Maharashtra State Electricity Distribution Company’s most awaited tender worth Rs 473 crore.

Jain Irrigation shares jumped as much as 4 per cent in the early trade on Wednesday after the company informed BSE before market hours that it has bagged Maharashtra State Electricity Distribution Company’s (MSEDCL) most awaited tender worth Rs 473 crore for supply and installation of 8,959 solar agri-pumps. This is the first pilot phase out of the world’s biggest solar agri-pump project for 500,000 pumps launched by Government of Maharashtra through MSEDCL.

At 9.57 am, Jain Irrigation Systems shares were trading 3.86 per cent up at Rs 66. The scrip opened at Rs 64.90 and had touched a high and low of Rs 66.15 and Rs 64.50, respectively, in trade so far. Sensex was up 0.54 per cent at 26,734.25.

In a BSE filing, the company said, “The tender will be executed by Projects Division of the Micro Irrigation Segment of the company and will also create additional sales opportunity for micro irrigation systems to individual farmers.”

The company has emerged as the largest winner among all the 14 tenders floated by MSEDCL. The tender is expected to be serviced over next 6 to 12 months with further operational and maintenance support to the fanners for next 5 years.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 92.35 on 05-Nov-2014 and a 52 week low of Rs 50.55 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs 66.15 and Rs 61 respectively. The current market capitalisation of the company is Rs 2,816.03 crore.

The promoters holding in the company stood at 28.69 per cent while institutions and non-institutions held 40.14 per cent and 31.01 per cent respectively.

Tech Mahindra’s stocks will be in focus as country’s fifth largest IT services firm on Tuesday reported 9.1 per cent increase in consolidated net profit to Rs 785.63 crore for the quarter ended September 30.

The BSE Sensex and NSe Nifty are expected to open strong following positive global Asian and US markets.

Back home, the BSE Sensex and NSE Nifty swung between gains and losses on Tuesday as concerns about earnings continued to weigh, although higher Asian shares supported sentiment. Sensex closed 31.44 points up at 26,590.59 and snapped its 6-day losing streak. Similarly, Nifty closed 9.90 points up 8,060.70.

Below are the stocks that are likely to be in focus today:

Tech Mahindra: Country’s fifth largest IT services firm Tech Mahindra on Tuesday reported 9.1 per cent increase in consolidated net profit to Rs 785.63 crore for the quarter ended September 30.

Indian Oil Corporation: State-run Indian Oil Corporation Limited (IOC) on Tuesday reported a net loss of R329.17 crore during the July-September quarter of FY16. The Maharatna had reported net loss of R898.46 crore in the same quarter previous year.

GAIL: State gas utility on Tuesday reported a 66.19 per cent plunge in second quarter net profit on lower LPG and petrochemical prices.

DLF: India’s largest realty firm on Tuesday reported 21 per cent rise in consolidated net profit at Rs 131.50 crore for the quarter ended September mainly on lower expenses.

PVR: Multiplex chain operator on Tuesdayreported over four-fold jump in consolidated net profit at Rs  41.05 crore for the July-September quarter of this year on account of increase in number of footfall.

Oberoi Realty: The Mumbai-based real estate company has managed to sell 68% of Oberoi Sky City in Borivali within two days of launch. The company confirmed 543 apartments of the 800 units on offer had been bought, at a price starting at Rs 2.5 crore.

Hexaware Technologies: The mid-sized IT services company said its consolidated net profit rose by 29.8 per cent to Rs 111.6 crore for the July-September quarter of this year, helped by all-round growth across verticals and geographies.

Reliance Power: The company on Tuesday reported 36.57 per cent jump in net profit to Rs 345.63 crore for the quarter ended on September 30, on higher electricity generation.

Berger Paints: The Kolkata-based company on Tuesday reported a 32.71 per cent jump in its consolidated net profit at Rs 88.96 crore for the quarter ended September 30.

PNC Infratech: The company has been declared as the L1 (lowest) Bidder for the project of improvement/augmentation of 146.4 km long Aligarh-Moradabad section of NH-93 to two lanes with paved shoulders, in the state of Uttar Pradesh, under NHDP Phase- IV. The NHAI project to be executed on EPC basis, has a total contract cost of Rs 644.5 crore. The price bids were opened on November 3, 2015 with PNC’s bid being declared the lowest.

Oil prices slipped in thin trading on Wednesday as investors took profits from the previous session’s rally, while potential supply disruptions in the United States, Brazil and Libya curbed losses. (Reuters)

Oil prices slipped in thin trading on Wednesday as investors took profits from the previous session’s rally, while potential supply disruptions in the United States, Brazil and Libya curbed losses.

Brent futures for December delivery had fallen 4 cents to $50.50 at barrel by 0215 GMT, after ending the last session up $1.75, or 3.6 percent.

U.S. crude for December delivery dropped 2 cents to $47.88 a barrel, after closing up $1.76, or 3.8 percent. Earlier on Wednesday, it hit its highest since Oct. 13 at $48.36.

“(Investors are) taking short-term positions after a good rally,” said Michael McCarthy, chief market strategist at Sydney’s CMC Markets.

Prices were expected to slide further later in the day although they will remain range-bound, McCarthy added.

“A year-end recovery in commodity prices remains unlikely with a stronger dollar and continued weak Chinese economic data,” ANZ said in a research note on Wednesday.

While there were no major supply disruptions, a strike at Brazil’s state-run oil producer Petroleo Brasileiro SA and the closure of the Libyan oil export terminal at Zueitina provided some support to prices, McCarthy said.

The Petrobras strike, which has slowed daily oil output by around 25 percent in the world’s ninth biggest oil producer, helped fuel the rally in prices in the previous session.

But a likely build in U.S. crude inventories last week weighed on sentiment.

Crude stocks rose by an estimated 2.8 million barrels in the week to Oct. 30 to 479.9 million, data from industry group the American Petroleum Institute showed on Tuesday.

Official inventory data from the U.S. Department of Energy’s Energy Information Administration will be released later on Wednesday. {EIA/S]

Investors are also keeping an eye on manufacturing data from China, Japan and the eurozone later on Wednesday.

Crompton Greaves (CRG) reported disappointing 2QFY15 EBITDA – 13.5% below estimates. Power systems subsidiaries continue to disappoint, with management maintaining it should turn around. We remain negative on potential of a positive surprise in power systems, though potential sale of loss-making subsidiaries has given a floor to the stock. Subsidiary power systems remained EBIT negative at -1.8% v/s -0.8% in 2QFY16. We believe the segment will continue to disappoint as global pricing trends are not showing uptick signs. In 1HFY16, CRG sold their Canada operations for EV of $20 million.

The management mentioned that it is in definitive talks with a buyer to sell the remaining loss-making subsidiaries and hope to close a deal in foreseeable future. Apart from this possible positive event, fundamentally, we do not see any earnings surprise potential. We have reduced our FY16E-18E EPS by 11-55% to reflect the weak revenue and margins at the subsidiary level.

In April 2015, CRG’s promoters sold their 34.37% stake in CRG’s consumer business to PE investors for R2,000 crore (~16x PE FY17E). Proposed demerger and listing of the consumer business is expected by March 2016.

We believe if this segment does not see a sharp revenue recovery (8% YoY in 2Q), hopes of value creation through listing at a premium will also be dashed.