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Thyrocare Technologies to list today
May 09,2016

Diagnostic chain operator Thyrocare Technologies debuts on the secondary equity market today, 9 May 2016. The company had priced the initial public offer (IPO) at the top end of the Rs 420 to Rs 446 per share price band. The IPO ended on 29 April 2016. It received bids for a total of 55.31 crore shares and it was subscribed 73.55 times. The qualified institutional buyers (QIBs) category was subscribed 73.17 times. The non-institutional investors category was subscribed 225.03 times. The retail individual investors category was subscribed 8.72 times.

Net profit of Reliance Capital rose 1.97% to Rs 415 crore on 11.2% rise in total income to Rs 2828 crore in Q4 March 2016 over Q4 March 2015. Net profit rose 9.99% to Rs 1101 crore on 12% rise in total income to Rs 9998 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours on Friday, 6 May 2016.

Hindustan Unilever (HUL) will announce its Q4 results on today, 9 May 2016.

ITC announced on Sunday, 8 May 2016, that the cigarette factories are commencing production progressively. ITC had announced on 5 May 2016 that the company had to shut its cigarette factories from 4 May 2016 until it is in a position to comply with the interim requirements pending hearing in the Karnataka High Court after Supreme Court on 4 May 2016 passed an order transferring to the Karnataka High Court all writ petitions pending in various courts challenging the rules prescribing 85% pictorial warnings on packages of tobacco products. The Supreme Court observed that all parties should endeavour to follow the rules.

Metal stocks may decline as Chinas exports unexpectedly fell in April as weak demand continued to weigh on the worlds second-largest economy. Exports declined 1.8% in April in dollar terms, reversing an increase of 11.5% the previous month, the General Administration of Customs said Sunday, 8 May 2016. Imports in April fell by a sharper-than-expected 10.9% from a year earlier, compared with a 7.6% drop in March. Chinas trade surplus widened more than expected last month to $45.56 billion from $29.86 billion in March. China is the worlds largest consumer of steel, copper and aluminum.

Siemens net profit rose 9.61% to Rs 177.42 crore on 4.76% increase in total income to Rs 2810.59 crore in Q2 March 2016 over Q2 March 2015. The result was announced after market hours on Friday, 6 May 2016.

Sun Pharma Advanced Research Company (SPARC) reported a net loss of Rs 9.58 crore in Q4 March 2016 compared with the net loss of Rs 9.40 crore in Q4 March 2015. Total income rose 0.83% to Rs 43.49 crore in Q4 March 2016 over Q4 March 2015.

SPARC reported a net loss of Rs 69.99 crore in the year ended March 2016 compared with the net loss of Rs 39.52 crore in the year ended March 2015. Total income rose 3.43% to Rs 164.22 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours on Friday, 6 May 2016.

Net profit of Titan Company declined 14.40% to Rs 184.11 crore on 1.51% decline in net sales to Rs 2437.15 crore in Q4 March 2016 over Q4 March 2015. Net profit declined 14.24% to Rs 705.85 crore on 5.21% decline in net sales to Rs 11176.90 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours on Friday, 6 May 2016.

Titan said in a statement that Q4 March 2016 and the year ended March 2016 was an extremely challenging one for the company. The challenges faced were both on account of weak market conditions for all businesses and new regulatory restrictions for the jewellery business. The performance came in the backdrop of an environment where the consumer sentiment did not pick up as expected. The strength of the companys brands was tested in an environment of subdued sales across all retail formats of the company as well as related categories. Weak consumer sentiment had an impact on retail sales across all businesses, the company said.

The watches business of the company recorded an income of Rs 1953.55 crore, a growth of 1.7%. This was achieved through planning and execution of various initiatives including new products and campaigns. The key highlight of the year was Titans entry into the world of smart watches through launch of Titan Juxt. The income from Jewellery segment saw a decline of 7.6% at Rs 8717.40 crore. The absence of revenues from the Golden Harvest scheme for the first eight months of the current fiscal and the disruption caused by the industry-wide strike in the last quarter contributed significantly to the decline in revenue. The year saw launch of many successful collections in jewellery as well as an effective wedding campaign. The income from Eyewear business was Rs 371.58 crore, recording a healthy growth of 11.8% on the bock of an aggressive network expansion strategy. Other businesses of the company comprising precision engineering business, accessories and fragrances recorded a sale of Rs 235.17 crore, a growth of 1.3%.

The year witnessed aggressive expansion of its retail network with a net addition of 82 stores by watches, jewellery and eyewear businesses. As on 31 March 2016, the company had 1283 stores, with over 1.7 million square feet of retail space delivering a retail turnover in excess of Rs 11,010 crore, the company added.

Meanwhile, Titan Company said that its board approved acquisition of majority stake in Chennai-based Carat Lane Trading, a leading online jewellery brand. It sells its products through its website Caratlane.com. The company has also developed omni-channel capabilities and has currently 13 stores across the country with plans to ramp up the retail stores significantly in the future. The financial details of the acquisition will be furnished after the conclusion of the accounting due diligence of the target. Acquisition is expected to be completed on or before mid June 2016. The proposed acquisition does not fall within related party transaction and the promoters of Titan Company have no interest in the entity proposed to be acquired. Mr. Bhaskar Bhat, Managing Director of the Company stated that for Titan, the acquisition brings significant capabilities in the e-commerce space along with a brand, a customer segment and an exciting business model.

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Hero MotoCorp may gain after strong Q4 outcome
May 06,2016

Hero MotoCorps net profit rose 70.85% to Rs 814.16 crore on 10.57% increase in total income to Rs 7614.61 crore in Q4 March 2016 over Q4 March 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) margin edged higher to 15.65% in Q4 March 2016, from 12.34% in Q4 March 2015. The result was announced after trading hours yesterday, 5 May 2016.

The improved profit margins were the combined result of the highest-ever quarterly sales of 17.21 lakh units and several margin improvement initiatives taken during the period, the company said in a statement.

Hero MotoCorps board recommended a final dividend of Rs 32 per share for the financial year ended 31 March 2016.

Banking stocks will be in focus after the Reserve Bank of India (RBI) issued draft guidelines on granting licences on a continuous basis for setting up of universal banks in the private sector. The bank can be promoted by a non-banking finance company (NBFC) controlled by residents with a successful track record for at least 10 years and individuals/professionals who are residents and have 10 years of experience in banking and finance. The RBI has also allowed entities/groups in the private sector owned and controlled by residents to promote a universal bank subject to the condition that the non-financial business of the group does not account for 40% or more in terms of total assets/gross income. The initial minimum paid-up voting equity capital for a universal bank has been set at Rs 500 crore. Thereafter, the bank will be required to have a minimum net worth of Rs 500 crore at all times. The bank will have to open at least 25% of its branches in unbanked rural centres (population up to 9,999 as per the latest census). The bank will have to comply with the priority sector lending targets and sub-targets as applicable to the existing domestic scheduled commercial banks. The board of the bank should have a majority of independent directors, as per the draft guidelines.

The promoter group of the bank will be required to hold a minimum of 40% of the paid-up voting equity capital of the bank with a lock-in period of five years from the date of commencement of the business of the bank. The promoter group has to reduce its holding in the bank to 15% within a period of 12 years from the date of commencement of business of the bank. The bank will be required to get its shares listed on the stock exchanges within six years of the commencement of business. The RBI has invited feedback from the public on the draft guidelines by 30 June 2016.

ITC announced that the Supreme Court on 4 May 2016 passed an order transferring to the Karnataka High Court all writ petitions pending in various courts challenging the rules prescribing 85% pictorial warnings on packages of tobacco products. The Supreme Court observed that all parties should endeavour to follow the rules. In the meantime, ITC has had to shut its cigarette factories from 4 May 2016 until the company is in a position to comply with the interim requirements pending hearing in the Karnataka High Court, the company said. The announcement was made after market hours yesterday, 5 May 2016.

Bharti Airtel said that its subsidiary, Bharti Airtel International (Netherlands) BV, and Helios Towers Africa (HTA), a leading independent telecoms towers company in Africa, announced an agreement for the divestment of approximately 950 telecoms towers in the Democratic Republic of Congo (DRC) from Bharti Airtel to HTA. The divestment also includes towers currently under construction in the DRC. The agreement will allow the company to focus on its core business and customers, while enabling it to deleverage through debt reduction, Bharti Airtel said. The deal will significantly reduce the companys ongoing capital expenditure on passive infrastructure and also mitigate the proliferation of towers through enhanced sharing, Bharti Airtel said. The deal will help expand HTAs tower coverage in Africa to over 6,500 owned towers.

The agreement follows Bharti Airtels and HTAs strategies to drive cost efficiencies throughout the industry, the promotion of passive infrastructure and to mitigate against the proliferation of towers. Post deal, Bharti Airtel will have full access to the towers from HTA under a long term lease contract. The agreement is subject to statutory and regulatory approvals in the respective countries. The announcement was made after trading hours yesterday, 5 May 2016.

Wipro after trading hours yesterday, 5 May 2016, announced that it has successfully implemented its Software as a Service (SaaS) platform- Managed File Transfer as a Service (MFTaaS) on Amazon Web Services (AWS) for organizations, thereby helping them integrate digitally with their clients, partners and employees. Wipro anticipates that the MFTaaS platform can potentially reduce up to 30% in TCO (Total Cost of Ownership) for its clients vis-a-vis traditional deployments, the company said in a statement.

In a separate announcement, Wipro said that it has won a multi-year contract from Thames Water in the United Kingdom. Wipro will develop new IT systems and processes to help Thames Water improve customer experience and drive operational efficiencies. The announcement was made after trading hours yesterday, 5 May 2016.

NTPC after trading hours yesterday, 5 May 2016, announced that it has raised Rs 1000 crore through private placement of secured non-convertible debentures at a coupon of 8.05% per annum with a 10 year door-to-door maturity. The proceeds of the issue will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects including recoupment of expenditure already incurred.

Emamis consolidated net profit fell 45.2% to Rs 75.85 crore on 17.3% increase in total income to Rs 676.79 crore in Q4 March 2016 over Q4 March 2015. The result was announced after trading hours yesterday, 5 May 2016. Meanwhile, Emami said that Emami International FZE, (a wholly owned subsidiary of the company based in Dubai) has further acquired 18.33% of the share capital of its subsidiary Fravin Pty., Australia. Consequent to the acquisition of shares, aggregate shareholding of Emami International FZE in its subsidiary company Fravin Pty has increased to 85% of share capital of Fravin Pty. from 66.67 %.

Multi Commodity Exchange of India (MCX)s net profit fell 45% to Rs 27.10 crore on 14.8% fall in total income to Rs 83.35 crore in Q4 March 2016 over Q4 March 2015. The result was announced after trading hours yesterday, 5 May 2016.

SML Isuzu has scheduled a board meeting on 10 May 2016, to consider a proposal for raising long term borrowings by way of external commercial borrowings (ECB) for partial funding of capital expenditure plan of Rs 220 crore towards product improvement / variants and up-gradation of technology and plant infrastructure. The announcement was made after trading hours yesterday, 5 May 2016.

Syndicate Bank said it allotted 9.51 crore equity shares of face value of Rs 10 each for cash at an issue price of Rs 77.79 each, aggregating to Rs 740 crore on preferential basis to Government of India. The announcement was made after trading hours yesterday, 5 May 2016.

On a consolidated basis, Great Eastern Shipping Company (GE Shipping)s net profit fell 57.51% to Rs 58.20 crore on 7.26% increase in total income to Rs 968.42 crore in Q4 March 2016 over Q4 March 2015. On a consolidated basis, GE Shippings net profit rose 38.91% to Rs 1039.40 crore on 9.83% increase in total income to Rs 4078.51 crore in the year ended March 2016 over the year ended March 2015. The result was announced after trading hours today, 5 May 2016.

In a separate announcement, GE Shipping said that its board approved raising upto Rs 1500 crore through private placement of non-convertible debentures during the year.

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Eicher Motors, Hero MotoCorp in focus ahead of earnings
May 05,2016

Eicher Motors and Hero MotoCorp are scheduled to announce their Q4 March 2016 results today, 5 May 2016.

Wipro and Qlik, a leader in visual analytics, have collaborated to offer advanced enterprise analytics solutions to joint customers across industry sectors. Wipros competency in delivering end-to-end Business Intelligence (BI) solutions combined with QlikView, Qliks market-leading data discovery solution, will widen the scope and scale of visualization solutions offered to customers, Wipro said in a statement.

As part of this expanded alliance, QlikView is now fully integrated into Wipros SmartView-ServiceNXT analytics solution which converts complex data to easy visuals, leading to simplified decision making. This integrated environment will result in customized offerings that will help organizations model, optimize, forecast, budget, execute, manage, and measure product and customer performance across the globe at the click of a button. In addition, QlikView has been integrated into Wipros SNIPE-BI Transformation Solution, which empowers enterprises to simplify the BI landscape by standardizing and setting up the right set of governance, processes and policies with robust migration frameworks, tools, and accelerators to assist in seamless transformation journeys.

Wipro and Qlik will jointly bring these solutions to market. The companies will collaborate and drive the resultant synergies to customers to deliver a self-service analytics culture. The companies have been jointly hosting several initiatives to upskill and cross-skill resources from Wipro, including Innovation Days and Qlik Academy courses. The announcement was made after market hours yesterday, 4 May 2016.

HDFC after trading hours yesterday, 4 May 2016, announced that it intends to raise Rs 1135 crore through private placement of senior secured redeemable non-convertible debentures. HDFC said that the coupon rate of debentures is 8.34% per annum with a tenor of 2 years and 10 months. The issue opens and closes on the same day on 6 May 2016. The object of the issue is to augment the long-term resources of the company.

Sun Pharmaceutical Industries after trading hours yesterday, 4 May 2016, announced that the two pivotal phase-3 clinical trials evaluating the efficacy and safety of the investigational IL-23p19 inhibitor antibody tildrakizumab (MK-3222) in patients with moderate-to-severe plaque psoriasis met their primary endpoints for both evaluated doses. The overall safety profile of tildrakizumab in both phase-3 clinical trials was consistent with the safety data observed in previously reported studies, the company said. The preparations for submission of a Biologics License Application to the US Food and Drug Administration (USFDA) are proceeding. The detailed findings from the phase-3 clinical trials will be presented at upcoming scientific meetings.

On a consolidated basis, Jindal Steel & Power (JSPL) reported net loss of Rs 363 crore in Q4 March 2016, lower than net loss of Rs 581 crore in Q4 March 2015. Turnover rose 7% to Rs 4874 crore in Q4 March 2016 over Q4 March 2015. Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) rose 9% to Rs 896 crore in Q4 March 2016 over Q4 March 2015. EBITDA margin was reported at 18% in Q4 March 2016, same as in in Q4 March 2015. The result was announced after market hours yesterday, 4 May 2016.

On a consolidated basis, JSPL reported net loss of Rs 1999 crore in the year ended March 2016, higher than net loss of Rs 1455 crore in the year ended March 2015. Turnover fell 6% to Rs 18412 crore in the year ended March 2016 over the year ended March 2015. EBITDA fell 39% to Rs 3483 crore in the year ended March 2016 over the year ended March 2015. EBITDA margin was reported at 19% in the year ended March 2016, lower than 29% in in the year ended March 2015.

In its outlook, JSPL said that its endeavor for the year ending March 2017 (FY 2017) would be to fully utilize its consolidated capacities of 6.75 MTPA in steel. With Steel prices looking up in recent times on the back of rise in global steel prices and government support through minimum import price (MIP), the company is looking to improve its net sales realization (NSR) substantially during the year and generate higher EBITDA. Ramp up of Oman rebar mill and commissioning of Angul rebar mill should further help increase these realizations.

In power business, the company expects the demand to pick up, both in short term & long term markets. With the summer setting in, the demand and the exchange prices should move higher; helping the company generate higher revenues. Also, the company believes the UDAY scheme by the Government of India is a commendable scheme, which could catalyze the PPA markets in the coming year. JPL is well placed to make competitive bids whence the PPAs began to come up and would look to tie up as much capacity, the company said in a statement.

Supported by governments novel initiatives like Make-in-India campaign, 24X7 power, housing for all, dedicated freight corridors, smart city initiative, JSPL envisages the demand for steel and power to increase in near future and help JSPL sweat its assets to generate additional revenues and higher operating profits in FY 2017 and beyond, the company added.

V-Guard Industries net profit surged 109.1% to Rs 41.97 crore on 16% rise in net sales to Rs 510.07 crore in Q4 March 2016 over Q4 March 2015. The Q4 result was announced after market hours yesterday, 4 May 2016.

Engineers India (EIL) will be watched. Sonangol is planning to set up 200,000 barrels per stream day (BPSD) (9.5 million metric tonnes per annum) refinery in Lobito, Angola. EIL has been awarded FEED revalidation, licensor selection and BDEP review of Lobito refinery assignment by Sonangol, Angola. The refinery will produce LPG, gasoline, diesel, jet al, coke and sulphur, EIL said in a statement. Financial details of the deal were not disclosed. The announcement was made after market hours yesterday, 4 May 2016.

MOIL said that the Government of Maharashtra has granted mining lease over 53.75 hectare in village Parsoda, Nagpur district in favour of the company. The lease has been executed and registered by the company, MOIL said. The announcement was made after market hours yesterday, 4 May 2016.

Dewan Housing Finance Corporation (DHFL)s net profit rose 16.87% to Rs 189.66 crore on 24.27% increase in total income to Rs 1966.57 crore in Q4 March 2016 over Q4 March 2015.

DHFLs net profit rose 17.37% to Rs 729.20 crore on 22.32% increase in total income to Rs 7316.72 crore in the year ended March 2016 over the year ended March 2015.

On a consolidated basis, the companys net profit rose 16.63% to Rs 749.30 crore on 22.33% increase in total income to Rs 7856.65 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours yesterday, 4 May 2016.

In a separate announcement after trading hours today, 4 May 2016, the company announced that its board approved further issuance of non-convertible secured debentures (NCDs) upto Rs 5000 crore, non-convertible subordinated unsecured debentures upto Rs 1000 crore and non convertible perpetual unsecured debentures upto Rs 300 crore for the ensuing quarter and till the date of the next board meeting.

The board also approved the company to seek shareholders approval in the upcoming Annual General Meeting (AGM) for issuing non-convertible secured/unsecured debentures upto Rs 20000 crore, non-convertible subordinated unsecured debentures upto Rs 2000 crore, non-convertible perpetual unsecured debentures upto Rs 500 crore and any other hybrid instrument(s) which can be classified as being Tier II, on private placement basis.

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APSEZ may gain after declaring good Q4 result
May 04,2016

Adani Ports and Special Economic Zones (APSEZ) consolidated net profit rose 38.34% to Rs 914.06 crore on 18% increase in total income to Rs 2161.65 crore in Q4 March 2016 over Q4 March 2015. EBITDA (earnings before interest, taxes, depreciation and amortization) excluding other income rose 12% to Rs 1225 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 3 May 2016.

Cargo across all ports handled by the company rose 5% to 152 million metric tonnes (MMT) in the year ended 31 March 2016 over the year ended 31 March 2015. The company has given guidance of 10% to 15% growth in cargo volumes for the year ending 31 March 2017 (FY 2017). It has given guidance of 10% to 15% growth in net profit for FY 2017.

In a separate announcement, APSEZ said that its board of directors has decided to seek shareholders approval to raise funds by issue of equity shares/convertible bonds for an aggregate amount of up to Rs 10000 crore. The board has also decided to seek shareholders approval to issue secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company.

Bharti Airtel announced after market hours yesterday, 3 May 2016, that its subsidiary Airtel M-Commerce Services has been renamed as Airtel Payments Bank after receiving necessary approvals from all concerned authorities. The company also unveiled a new logo to reflect its new identity. On 11 April 2016, Airtel Payments Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI). The company plans to start rolling out its banking network in the second quarter of the current financial year. Airtel Payments Bank (which began operations in 2011 as Airtel M-Commerce Services) currently provides money transfer services and semi-closed wallet services (Airtel Money). The company has presence in 800 plus towns across India.

Yes Bank announced reduction in lending rates by 10 basis points (bps) across all tenures with effect from 1 May 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for one-year loans now stands at 9.50%, the bank said. The announcement was made after trading hours yesterday, 3 May 2016.

NTPC announced that the 200 megawatts (MW) out of 250 MW of Stage-I Ananthapuramu Ultra Mega Solar Power Project has been synchronized on 30 April 2016. With this, the total capacity of non-conventional energy projects of NTPC has become 310 MW. Further, in continuation to the companys disclosure dated 16 October 2015, Government of Jharkhand has notified PTPS Transfer Scheme, 2015 on 1 April 2016 transferring specified assets of Patratu Thermal Power Station to PUVNL, a subsidiary company of NTPC, resulting in addition of 325 MW to NTPCs Group capacity. Consequently, the total commissioned capacity of NTPC and NTPC group has become 40,212 MW and 47,178 MW respectively, NTPC said. The announcement was made after market hours yesterday, 3 May 2016.

Tata Motors announced that its total sales of commercial and passenger vehicles rose 8.9% to 39,418 units in April 2016 over April 2015. Domestic sales of Tata commercial and passenger vehicles rose 10% to 35,633 units in April 2016 over April 2015. Sales from exports were flat at 3,785 units in April 2016 compared with corresponding previous year. The company announced the revised monthly sales volume data after market hours yesterday, 3 May 2016.

JSW Energy said that the company has agreed to acquire the 1,000 MW thermal power plant located at Village Tamnar, District Raigarh in the State of Chhattisgarh from Jindal Steel & Power, subject to receipt of necessary statutory and shareholder consents. The announcement was made before market hours today, 4 May 2016.

Tube Investments of India will in focus after Q4 results. On a consolidated basis, the companys net profit rose 391.83% to Rs 725.55 crore on 28.58% decline in total income to Rs 1716.47 crore in Q4 March 2016 over Q4 March 2015. On a consolidated basis, the companys net profit rose 144.82% to Rs 1038.91 crore on 17.79% decline in total income to Rs 8011.93 crore in the year ended March 2016 over the year ended March 2015. The current and previous period figures are not comparable due to Cholamandalam Investment and Finance Company being considered as an associate instead of a subsidiary with effect from 2 September 2015. The result was announced after market hours yesterday, 3 May 2016.

In a separate announcement after market hours yesterday, 3 May 2016, Tube Investments of India said that its board approved fresh long-term borrowing to meet the companys fund needs during the year ending March 2017 for a sum not exceeding in the aggregate Rs 400 crore, including by way of issue of privately placed secured non-convertible debentures, in one or more tranches.

Adani Power will in focus after Q4 results. On a consolidated basis, the companys net profit rose 64.10% to Rs 1173.39 crore on 35.22% decrease in total income to Rs 4829.96 crore in Q4 March 2016 over Q4 March 2015. On a consolidated basis, the company reported net profit of Rs 488.48 crore in the year ended March 2016 compared with net loss of Rs 815.63 crore in the year ended March 2015. Total income declined 22.18% to Rs 19791.44 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours yesterday, 3 May 2016.

Pursuant to the stake sale in Adani Transmission (India) by the company in the previous year, the merger of Solar Power Undertaking of Adani Enterprises with the company with effect from 1 April 2015 and the acquisition of 100% stake of UPCL by the company with effect from 20 April 2015, the figures for the current quarter and year are not fully comparable with the figures of corresponding quarter and previous year.

In a separate announcement after market hours yesterday, 3 May 2016, Adani Power said that its board has approved seeking approval of the shareholders for raising funds by issue of Equity Shares / convertible Bonds through Qualified Institutional Placement (QIP)/GDR/ADR/FCCBs/FCEBs/Convertible Securities for an aggregate amount upto Rs 10000 crore. Shareholders approval will be also sought in issuing secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company. All the above will be issued in the period of next twelve months through private placement mode.

Alstom T&D India will in focus after Q4 results. On a consolidated basis, the companys net profit fell 44.72% to Rs 29.87 crore on 28.53% decrease in total income to Rs 977.93 crore in Q4 March 2016 over Q4 March 2015. On a consolidated basis, the companys net profit fell 35.71% to Rs 77.51 crore on 7.30% increase in total income to Rs 3450.31 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours yesterday, 3 May 2016.

MEP Infrastructure Developers said it won toll collection rights at Paduna toll plaza at National Highway (NH) number 8 in Rajasthan. The company said it received a Letter of Acceptance (LOA) dated 3 May 2016 from National Highways Authority of India (NHAI) informing that the company has been engaged as the contractor for the project of collection of user fee through fee collection agency on the basis of competitive bidding for Paduna toll plaza in Rajasthan. The announcement was made after market hours yesterday, 3 May 2016.

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APSEZ in focus after declaring Q4 result
May 04,2016

Adani Ports and Special Economic Zones (APSEZ) consolidated net profit rose 38.34% to Rs 914.06 crore on 18% increase in total income to Rs 2161.65 crore in Q4 March 2016 over Q4 March 2015. EBITDA (earnings before interest, taxes, depreciation and amortization) excluding other income rose 12% to Rs 1225 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 3 May 2016.

Cargo across all ports handled by the company rose 5% to 152 million metric tonnes (MMT) in the year ended 31 March 2016 over the year ended 31 March 2015. The company has given guidance of 10% to 15% growth in cargo volumes for the year ending 31 March 2017 (FY 2017). It has given guidance of 10% to 15% growth in net profit for FY 2017.

In a separate announcement, APSEZ said that its board of directors has decided to seek shareholders approval to raise funds by issue of equity shares/convertible bonds for an aggregate amount of up to Rs 10000 crore. The board has also decided to seek shareholders approval to issue secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company.

Bharti Airtel announced after market hours yesterday, 3 May 2016, that its subsidiary Airtel M-Commerce Services has been renamed as Airtel Payments Bank after receiving necessary approvals from all concerned authorities. The company also unveiled a new logo to reflect its new identity. On 11 April 2016, Airtel Payments Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI). The company plans to start rolling out its banking network in the second quarter of the current financial year. Airtel Payments Bank (which began operations in 2011 as Airtel M-Commerce Services) currently provides money transfer services and semi-closed wallet services (Airtel Money). The company has presence in 800 plus towns across India.

Yes Bank announced reduction in lending rates by 10 basis points (bps) across all tenures with effect from 1 May 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for one-year loans now stands at 9.50%, the bank said. The announcement was made after trading hours yesterday, 3 May 2016.

NTPC announced that the 200 megawatts (MW) out of 250 MW of Stage-I Ananthapuramu Ultra Mega Solar Power Project has been synchronized on 30 April 2016. With this, the total capacity of non-conventional energy projects of NTPC has become 310 MW. Further, in continuation to the companys disclosure dated 16 October 2015, Government of Jharkhand has notified PTPS Transfer Scheme, 2015 on 1 April 2016 transferring specified assets of Patratu Thermal Power Station to PUVNL, a subsidiary company of NTPC, resulting in addition of 325 MW to NTPCs Group capacity. Consequently, the total commissioned capacity of NTPC and NTPC group has become 40,212 MW and 47,178 MW respectively, NTPC said. The announcement was made after market hours yesterday, 3 May 2016.

Tata Motors announced that its total sales of commercial and passenger vehicles rose 8.9% to 39,418 units in April 2016 over April 2015. Domestic sales of Tata commercial and passenger vehicles rose 10% to 35,633 units in April 2016 over April 2015. Sales from exports were flat at 3,785 units in April 2016 compared with corresponding previous year. The company announced the revised monthly sales volume data after market hours yesterday, 3 May 2016.

JSW Energy said that the company has agreed to acquire the 1,000 MW thermal power plant located at Village Tamnar, District Raigarh in the State of Chhattisgarh from Jindal Steel & Power, subject to receipt of necessary statutory and shareholder consents. The announcement was made before market hours today, 4 May 2016.

Tube Investments of India will in focus after Q4 results. On a consolidated basis, the companys net profit rose 391.83% to Rs 725.55 crore on 28.58% decline in total income to Rs 1716.47 crore in Q4 March 2016 over Q4 March 2015. On a consolidated basis, the companys net profit rose 144.82% to Rs 1038.91 crore on 17.79% decline in total income to Rs 8011.93 crore in the year ended March 2016 over the year ended March 2015. The current and previous period figures are not comparable due to Cholamandalam Investment and Finance Company being considered as an associate instead of a subsidiary with effect from 2 September 2015. The result was announced after market hours yesterday, 3 May 2016.

In a separate announcement after market hours yesterday, 3 May 2016, Tube Investments of India said that its board approved fresh long-term borrowing to meet the companys fund needs during the year ending March 2017 for a sum not exceeding in the aggregate Rs 400 crore, including by way of issue of privately placed secured non-convertible debentures, in one or more tranches.

Adani Power will be in focus after Q4 results. On a consolidated basis, the companys net profit rose 64.10% to Rs 1173.39 crore on 57.36% rise in net sales to Rs 7335.37 crore in Q4 March 2015. On a consolidated basis, the company reported net profit of Rs 488.48 crore in the year ended March 2016 compared with net loss of Rs 815.63 crore in the year ended March 2015. Total income declined 22.18% to Rs 19791.44 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours yesterday, 3 May 2016.

Pursuant to the stake sale in Adani Transmission (India) by the company in the previous year, the merger of Solar Power Undertaking of Adani Enterprises with the company with effect from 1 April 2015 and the acquisition of 100% stake of UPCL by the company with effect from 20 April 2015, the figures for the current quarter and year are not fully comparable with the figures of corresponding quarter and previous year.

In a separate announcement after market hours yesterday, 3 May 2016, Adani Power said that its board has approved seeking approval of the shareholders for raising funds by issue of Equity Shares / convertible Bonds through Qualified Institutional Placement (QIP)/GDR/ADR/FCCBs/FCEBs/Convertible Securities for an aggregate amount upto Rs 10000 crore. Shareholders approval will be also sought in issuing secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company. All the above will be issued in the period of next twelve months through private placement mode.

Alstom T&D India will in focus after Q4 results. The companys net profit fell 44.72% to Rs 29.87 crore on 28.53% decrease in total income to Rs 977.93 crore in Q4 March 2016 over Q4 March 2015. Alstom T&D Indias net profit fell 35.71% to Rs 77.51 crore on 7.3% decrease in total income to Rs 3450.31 crore in the year ended March 2016 over the year ended March 2015.

MEP Infrastructure Developers said it won toll collection rights at Paduna toll plaza at National Highway (NH) number 8 in Rajasthan. The company said it received a Letter of Acceptance (LOA) dated 3 May 2016 from National Highways Authority of India (NHAI) informing that the company has been engaged as the contractor for the project of collection of user fee through fee collection agency on the basis of competitive bidding for Paduna toll plaza in Rajasthan. The announcement was made after market hours yesterday, 3 May 2016.

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Tata Motors, Hero MotoCorp in focus after declaring April sales volume data
May 03,2016

Tata Motors announced that its total sales of commercial and passenger vehicles rose 9.9% to 39,763 units in April 2016 over April 2015. Domestic sales of Tata commercial and passenger vehicles rose 11% to 35,978 units in April 2016 over April 2015. Sales from exports were flat at 3,785 units in April 2016 compared with corresponding previous year. The company announced the monthly sales volume data after market hours yesterday, 2 May 2016.

Hero MotoCorp reported 14.89% increase in total sales to 6.12 lakh units in April 2016 over April 2015. Having grown by 13.6% and 14% in February 2016 and March 2016 respectively, this is the third consecutive month of double digit monthly sales growth for the company, Hero MotoCorp said in a statement. The announcement was made after market hours yesterday, 2 May 2016.

State Bank of India (SBI) after trading hours yesterday, 2 May 2016, announced reduction in lending rates by 5 basis points (bps) across tenures. SBIs Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.90%. MCLR for one-month loans will be 9% and for three-month loans it will be 9.05%. The MCLR on 6-month loans will be 9.10% and for one-year loans the rate would be 9.15%, the bank said. MCLR for two-year loans would be at 9.25% and loans with three-year maturity would carry an MCLR of 9.30%, the bank said.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

Tata Power Company said that its Strategic Engineering Division (Tata Power SED) has received an order from the Border Security Force (BSF), Ministry of Home Affairs, Government of India for the supply of Rajak TBC DN-1, its indigenously developed Hand Held Thermal Imaging Systems (HHTI) (cooled version). BSF is one of the premier forces of India using HHTIs for border surveillance and has selected through a global tender Tata Power SEDs Rajak TBC DN-1 multi-function thermal imager after extensive field trials. The announcement was made after market hours yesterday, 2 May 2016.

Coal India and its subsidiaries on provisional basis achieved 90% of targeted production at 40.09 million tonnes in April 2016. Coal India and its subsidiaries on provisional basis achieved 83% of targeted offtake at 42.45 million tonnes in April 2016. The announcement was made after market hours yesterday, 2 May 2016.

Adani Ports and Special Economic Zone (APSEZ) is scheduled to announce its Q4 March 2016 results today, 3 May 2016.

Indian Oil Corporation (IOCL) said that in accordance with the approval accorded by Cabinet Committee on Economic Affairs on 13 May 2013, Government of India (GOI) has offered 1.21 crore shares to the eligible employees of the company at a discounted price of Rs 367.65 per share (5% discount to the cut off price of Rs 387 discovered through the Offer For Sale of equity shares of IOCL carried out by GOI on 24 August 2015). In connection with this, action has been initiated by the company for sale of equity shares to the eligible employees by the GOI. The offer for sale of share shall remain open from 2 May 2016 to 10 May 2016, IOCL said. The announcement was made after market hours yesterday, 2 May 2016.

TVS Motor Company reported 16% increase in total sales to 2.27 lakh units in April 2016 over April 2015. The announcement was made after market hours yesterday, 2 May 2016.

Atul Auto reported 50.36% fall in total sales to 1,242 units in April 2016 over April 2015. The announcement was made after market hours yesterday, 2 May 2016.

KDDL said that its board approved an investment of Rs 4 crore in Ethos, a subsidiary company by way of preferential allotment of 2.79 lakh equity shares of Rs 10 each at a premium of Rs 133 per share as per valuation report obtained from the registered valuer. Post subscription and allotment, consolidated holding of company will increase from 72.01% to 72.55% on fully diluted basis. The announcement was made after market hours yesterday, 2 May 2016.

Blue Star said that it has received an order from the Principal Commissioner of Service Tax - 1, Commissionerate, Kolkata holding that there has been alleged short payment of service tax amounting to around Rs 67.86 crore during the period 2007-2008 to 2011-2012 in their Kolkata location on the basis of purported examination of the companys records and comparing it with the service tax returns filed by Kolkata location during the said period. The Commissioner has also imposed penalty of Rs 67.86 crore equal to the tax demand under Section 78 of the Finance Act, 1994 apart from interest (not quantified in the order) to be paid in terms of Section 75 of the Finance Act, 1994 on the tax demanded.

The order is a complete departure from a ruling by the competent authority in an identical matter at another jurisdiction, in which after examination of the companys similar records, the demand notice raised by the service tax department was quashed. Based on the advice received from its tax advisors, the company strongly believes that the order apart from being patently erroneous, has been passed without appropriately considering the submissions made by the company, is based on incorrect presumptions and hence is untenable. The company will challenge the order before the appropriate forum in accordance with law and is confident about a positive outcome. The announcement was made after market hours yesterday, 2 May 2016.

Hindustan Construction Company (HCC) said that its board appointed Mr. Rajgopal Nogja as the Group CEO with effect from 3 May 2016. Pursuant to his appointment, Mr Nogja has stepped down from the board as whole time director with effect from 2 May 2016. The announcement was made after market hours yesterday, 2 May 2016.

Sakthi Sugars said that its board approved issuing 2.26 crore equity shares at Rs 27 each as fully paid-up equity shares to Asset Reconstruction Company (India) (Arcil) on preferential issue basis upon conversion of loans aggregating to Rs 61.12 crore. The announcement was made after market hours yesterday, 2 May 2016.

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HDFC in focus ahead of Q4 result
May 02,2016

Shares of housing finance major HDFC will be in focus as the company announces its Q4 March 2016 results today, 2 May 2016.

InterGlobe Aviations net profit rose 0.3% to Rs 579.31 crore on 6.8% rise in net sales to Rs 4060.69 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 29 April 2016.

UltraTech Cement clarified after market hours on Friday, 29 April 2016 that the company has no fund raising proposal. Media reports had indicated that the company is looking to raise funds by way of equity for financing acquisition.

Wipro announced before market hours today, 2 May 2016 that its subsidiary Wipro Arabia and Saudi Aramco, Princess Nourah University (PNU) on 1 May 2016 inaugurated the Kingdom of Saudi Arabias first all women business & technology park. The project is expected to create nearly 21,000 jobs for Saudi women over a period of ten years, Wipro said in a statement. The womens business park is envisioned to be the largest engineering drafting services, business process services and information technology hub in the region for a number of industry sectors including oil & gas, manufacturing, government, healthcare, telecom and construction, Wipro said.

Nestle India announced on Friday, 29 April 2016 that the company has introduced NESCAFn++ SUNRISE INSTA-FILTER - which provides the taste of filter coffee and yet does not require a filter, adding to the range of coffee and beverages. The announcement was made after market hours on Friday, 29 April 2016. Specially made from 100% Indian coffee beans, handpicked from Coorg and Chikmagalur, this is blended and roasted to perfection transforming into a dry decoction - locking the rich aroma and fresh taste of filter coffee in every granule, Nestle India said. The company has partnered with Snapdeal for an exclusive offering of this product starting 30 April 2016, it added.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) on Saturday, 30 April 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 30 April 2016. Petrol price was hiked by Rs 1.06 per litre and diesel price was raised by Rs 2.94 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 62.19 per litre and diesel costs Rs 50.95 a litre.

Oberoi Realtys consolidated net profit fell 37.34% to Rs 64.55 crore on 32.06% fall in total income to Rs 237.35 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 29 April 2016. Meanwhile, Oberoi Realtys board of directors at its meeting held on 29 April 2016, has approved issue of non-convertible debentures upto an aggregate amount of Rs 1500 crore by way of private placement, in one or more offering(s) and/ or tranches(s). The companys board also approved issue of equity shares and/ or any other securities convertible into equity by way of one or more public offers or private placement, or both, for an aggregate amount not exceeding Rs 750 crore, including premium.

IDFCs consolidated net profit dropped 65.9% to Rs 130.45 crore on 16.7% fall in total income to Rs 2151.79 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 29 April 2016.

IDFC said that pursuant to order of the Madras High Court dated 25 June 2015 approving the Scheme of Arrangement between the company and IDFC Bank and their respective shareholders and creditors and on receipt of final banking licence by IDFC Bank for commencement of banking operations, the demerger has been recorded with effect from 1 October 2015. Post transfer of the financing undertaking to IDFC Bank, IDFC is mainly an investment company, with minimal operations. Accordingly, the results for Q4 March 2016 are not comparable with results of Q4 March 2015, IDFC said.

Linde Indias net profit fell 43.05% to Rs 8.19 crore on 11.93% rise in total income from operations (net) to Rs 416.49 crore in Q1 March 2016 over Q1 March 2015. The result was announced after market hours on Friday, 29 April 2016.

Astra Microwave Products net profit rose 246.2% to Rs 19.11 crore on 14.77% rise in total income from operations (net) to Rs 124.35 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 29 April 2016.

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Idea Cellular may drop after announcing weak Q4 results
Apr 29,2016

Idea Cellulars consolidated net profit fell 38.87% to Rs 575.63 crore on 10.63% rise in total income to Rs 9524.09 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 28 April 2016. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA)margin improved to 38.1% in Q4 March 2016 from 36.4% in Q4 March 2015. Consolidated EBITDA rose 18% to Rs 3616 crore in Q4 March 2016 from Q4 March 2015.

Ambuja Cements net profit fell 4.38% to Rs 303.76 crore on 0.88% rise in total income to Rs 2580.85 crore in Q1 March 2016 over Q1 March 2015. The result was announced after market hours yesterday, 28 April 2016. Ambuja Cements said that inspite of lower production and distribution cost net profit was lower mainly due to lower prices, additional provision towards contribution to District Mineral Foundation and increased advertising and promotion expenses.

On a consolidated basis, Vedanta posted net loss of Rs 11181 crore in Q4 March 2016, lower than net loss of Rs 19228 crore in Q4 March 2015. Net sales fell 11% to Rs 15829 crore in Q4 March 2016 over Q4 March 2015. Net profit before exceptional items surged 89% to Rs 955 crore in Q4 March 2016 over Q4 March 2015. Non-operational income or the so-called other income surged 3485.68% to Rs 1289 crore in Q4 March 2016 over Q4 March 2015. Vedanta said that the non-operational income income was significantly higher in Q4 March 2016 largely due to timing differences wherein income earned on certain investments are recognized at maturity. During the quarter, a substantial portion of investments were liquidated at Hindustan Zinc on account of an announcement of special dividend and at Cairn India.

Earnings before interest, tax, depreciation and amortization (EBITDA) dropped 13% to Rs 3508 crore in Q4 March 2016 over Q4 March 2015. Exceptional items in Q4 March 2016 totalled Rs 12312 crore, of which Rs 12304 crore pertained to impairment. The impairment was triggered by the continued fall in oil prices during the year. Further, in light of the declining iron ore prices, both the acquisition goodwill and carrying value of the exploratory assets in West Africa (Western Cluster, Liberia) have also been impaired to the extent of Rs 1490 crore. Additionally, certain unused fixed assets and goodwill at copper mines of Tasmania and Bellary, Karnataka (Iron Ore) incurred an impairment charge of Rs 456 crore. Vedanta announced the fourth quarter results after trading hours yesterday, 28 April 2016.

The fall in EBITDA in Q4 March 2016 was primarily due to a steep fall in oil and metal prices and premia; partly offset by cost saving initiatives and strong volumes, Vedanta said. Revenues in Q4 March 2016 were 11% lower on account of the fall in oil and metal prices, which were partially offset by higher volumes, the company said.

Lupin and its US subsidiary, Lupin Pharmaceuticals, Inc. have announced the re-introduction of Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage (PPH). Methergine is the only FDA-approved oral uterotonic and is a preferred oral agent in the management of PPH, according to guidelines issued by the American Congress of Obstetricians and Gynecologists (ACOG). Lupin made the announcement at fag end of the trading session yesterday, 28 April 2016.

ICICI Bank will announce Q4 results today, 29 April 2016.

Dabur India said that in order to meet the growing demand for products of the company, the board of the directors of the company in its meeting held on 28 April 2016 has approved a capital expenditure of Rs 250 crore for setting up a manufacturing plant at Tezpur, Assam which shall be financed through internal accruals. The plant is likely to commence the operations in the year 2017. The announcement was made after market hours yesterday, 28 April 2016.

Zee Entertainment Enterprises said that the integration of channel distribution functions within the company is proposed to be done with effect from 1 May 2016 instead of 1 April 2016 as approved by the board. This change has been necessitated to facilitate strict compliance with the requirement of submitting Reference Interconnect Offer (RIO) to regulators in pursuance of subsequent judicial pronouncement. Further the company noted that, the change shall not have any impact on its consolidated financials for the year ended 31 March 2017 (FY 2017). The announcement was made after market hours yesterday, 28 April 2016.

Hindustan Construction Companys net profit fell 7.31% to Rs 19.14 crore on 0.69% fall in total income to Rs 4240.18 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 28 April 2016.

Excel Crop Care said that the board of directors of the company had considered and approved the sale of investments held by the company in Excel Genetics, Kutch Crop Services and ECCL Investments and Finance. Excel Crop Care said that the company has sold 22.50 lakh equity shares of Rs 10 each fully paid up of Excel Genetics for Rs 1.65 crore, 4 lakh equity shares of Rs 10 each fully paid up of Kutch Crop Services for Rs 3.35 crore and 50,000 equity shares of Rs 10 each fully paid up of ECCL Investments & Finance, a wholly-owned subsidiary, for Rs 2.95 lakh. With the sale and transfer of 50,000 equity shares of ECCL Investments and Finance, it ceases to be the companys subsidiary company, Excel Crop Care said. The announcement was made after market hours yesterday, 28 April 2016.

Shoppers Stop announced before market hours today, 29 April 2016 that the company has acquired 500 equity shares of of Nuance Group Fashion & Luxury Duty Free. These equity shares has been acquired, from Nuance Group (India) a joint venture Company. Acquisition of 500 equity shares constitutes 5% of the paid up share capital of Nuance Group Fashion & Luxury Duty Free.

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Bharti Airtel may gain after announcing buyback of shares
Apr 28,2016

Bharti Airtels consolidated net profit rose 2.78% to Rs 1290.30 crore on 8.43% rise in total income to Rs 24983.10 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 27 April 2016.

Bharti Airtels board of directors approved the proposal to buyback the shares on a proportionate basis through a tender offer. The buy back shall be up to an aggregate amount not exceeding Rs 1434 crore at a price of Rs 400 per share translating into approximately 3.58 crore shares, representing 0.9% of the total paid up equity share capital of the company, subject to the regulatory and other approvals, if any.

HCL Technologies consolidated net profit rose 0.3% to Rs 1926 crore on 3.4% rise in revenue to Rs 10698 crore in Q3 March 2016 over Q2 December 2015. The result was announced before market hours today, 28 April 2016.

Adani Ports and Special Economic Zone (APSEZ) said that the company has incorporated a wholly owned subdiairy company Adani Petroleum Terminal (APTPL) in India, which is registered with Registrar of Companies, Gujarat at Ahmedabad on 26 April 2016. APTPL belongs to LPG and LNG sector and is yet to commence its business operations, APSEZ said. The cost of acquisition is Rs 5 lakh in cash, APSEZ said.

ACC and Ambuja Cements will announce their Q1 results today, 28 April 2016. Idea Cellular announces its Q4 results today, 28 April 2016.

Puravankara Projects said that the company had called a meeting of the board of directors on 26 April 2016, to pass an enabling resolution to exit its investment of Rs 403 crore at Raidurg, Panamaktha village which would involve the sale of its entire shares in three wholly owned subsidiaries of Puravankara Projects. The announcement was made after market hours yesterday, 27 April 2016.

Oil India said that Fitch Ratings has reaffirmed the credit rating for the company as BBB- with stable outlook. The announcement was made after market hours yesterday, 27 April 2016.

Exide Industries net profit rose 29.04% to Rs 177.55 crore on 7.92% rise in total income to Rs 1784 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 27 April 2016.

Kansai Nerolac Paints net profit jumped 919.99% to Rs 615.77 crore on 10.29% rise in total income to Rs 897.45 crore in Q4 March 2016 over Q4 March 2015. On 30 March 2016, the company had sold its Perungudi fixed assets for Rs 537.86 crore. The profit of Rs 535.34 crore is disclosed as an exceptional item in Q4 March 2016. The announcement was made after market hours yesterday, 27 April 2016.

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Axis Bank may drop on weak Q4 results
Apr 27,2016

Axis Banks net profit fell 1.2% to Rs 2154.28 crore on 9.75% rise in total income to Rs 13592.97 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 April 2016. The banks gross non-performing assets (NPAs) stood at Rs 6087.51 crore as on 31 March 2016 as against Rs 5724.05 crore as on 31 December 2015 and Rs 4110.19 crore as on 31 March 2015. The ratio of gross NPAs to gross advances stood at 1.67% as on 31 March 2016 as against 1.68% as on 31 December 2015 and 1.34% as on 31 March 2015. The ratio of net NPAs to net advances stood at 0.7% as on 31 March 2016 as against 0.75% as on 31 December 2015 and 0.44% as on 31 March 2015. The banks provisions and contingencies jumped 64.59% to Rs 1168.33 crore in Q4 March 2016 over Q4 March 2015.

Bharti Airtel and Yes Bank will announce their Q4 results today, 27 April 2016.

Bharti Infratels consolidated net profit rose 18.69% to Rs 661.70 crore on 7.21% rise in total income to Rs 3341.30 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 April 2016.

Bharti Infratels board of directors at its meeting held on 26 April 2016, has considered and approved the proposal to buyback equity shares of the company on a proportionate basis through a tender offer. The buyback shall be up to an aggregate amount not exceeding Rs 2000 crore at a maximum price of Rs 450 per share. At maximum buyback price, the buyback translates into approximately 4.44 crore equity shares of the company, representing 2.34% of the total paid up equity share capital of the company.

Biocons consolidated net profit rose 79.1% to Rs 360.90 crore on 17.42% rise in total income to Rs 1003.50 crore in Q4 March 2016 over Q4 March 2015. The result was announced before market hours today, 27 April 2016.

Mangalore Refinery and Petrochemicals (MRPL) said that considering the acute water shortage in the dakshina kannada district of Karnataka and the restrictions imposed by the district administration in pumping river water for industrial use, MRPL has initiated partial shutdown of certain units and also running some units on reduced capacity without disrupting fuel production and supplies to the extent possible. The announcement was made after market hours yesterday, 26 April 2016.

NHPC will be in focus. The President of India, acting through and represented by the Ministry of Power, Government of India, announced an offer for sale (OFS) of up to 125.76 crore shares of NHPC on 27 April 2016 (for non-retail investors only) and on 28 April 2016 (for retail investors and for non-retail investors who choose to carry forward their bids) through a separate, designated window on the stock exchanges, representing 11.36% of the total paid up equity share capital of the company on 31 December 2015. : The floor price of the OFS shall be Rs 21.75 per share.

Seperately, NHPC said that the board of directors of the company at its meeting held on 26 April 2016, has considered and approved the proposal for raising of debt up to Rs 900 crore through issuance of U-Series secured Redeemable Non cumulative Non Convertible Corporate bonds in the nature of debentures on private placement basis. The announcement was made after market hours yesterday, 26 April 2016.

Rallis Indias consolidated net profit rose 51.26% to Rs 32.25 crore on 11.11% rise in total income to Rs 357.03 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 26 April 2016.

Great Eastern Shipping Company announced that it has entered into an agreement to cancel the new building Kamsarmax which was scheduled for delivery in financial year ending 31 March 2018 (FY 2018), having signed the contract in FY 2014). Simultaneously, the company has contracted for purchase of two newbuilding resale Kamsarmaxes being built at the same shipyard, due to be delivered in Q2 September 2016. The transactions collectively are value accretive. The announcement was made after market hours yesterday, 26 April 2016.

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Hindalco Industries may gain after accepting Metal Xs offer to buy its subsidiary
Apr 26,2016

Hindalco Industries announced that it has communicated to Aditya Birla Minerals (ABML) its intention to accept the offer by Metal X to acquire shares of ABML subject to receiving the approval of the Reserve Bank of India and no bona fide superior proposal being announced by a third party within 5 business days of Metals X announcing its intention to make the aforesaid offer. Metal X, a listed company in Australia has made an announcement regarding its intention to improve its ongoing takeover offer for acquiring shares of ABML under the relevant laws of Australia. ABML is a subsidiary of Hindalco Industries and listed on Australian Stock Exchange. Metal X has offered 1 fully paid ordinary share in Metals X for every 4.5 ABML shares and A$0.08 in cash for every ABML share held. The offer is conditional upon Hindalcos acceptance and confirmation that it has obtained the requisite approval of Reserve Bank of India in this regard. The announcement was made before market hours today, 26 April 2016.

Sun Pharmaceutical Industries announced that Indian Council of Medical Research (ICMR), Ministry of Health & Family Welfare (MOHFW), Govt. of India, Govt. of Madhya Pradesh and Sun Pharma entered into a public-private-partnership agreement for Malaria Free India and other innovation in preventive health. This was announced by Dr Soumya Swaminathan, Director General - ICMR, Principal Secretary Health Mrs. Gauri Singh Govt of Madhya Pradesh and Dilip Shanghvi, Managing Director, Sun Pharma as a unique effort to draw public - private sector collaboration in promoting preventive health measures. The public private-partnership stakeholders will jointly undertake malaria control & elimination programme by setting-up Management & Technical Committees to provide oversight for disease surveillance & elimination. The announcement was made after market hours yesterday, 25 April 2016.

Under the aegis of this unique public-private-partnership, ICMR, MOHFW, Govt. of India, Govt of Madhya Pradesh and Sun Pharma will establish a malaria elimination demonstration project titled Malaria Free India, to support the national framework for elimination of malaria in India. The demonstration project will be launched in one of the most malaria endemic districts of Madhya Pradesh and implemented in a phased manner, beginning with Mandla district of Madhya Pradesh. The public-private-partnership stakeholders will execute the malaria elimination programme over a span of 3 to 5 years covering over 1,200 villages in Mandla district

ABB Indias net profit rose 30.74% to Rs 70.98 crore on 11% rise in total income to Rs 2015.08 crore in Q1 March 2016 over Q1 March 2015. The announcement was made after market hours yesterday, 25 April 2016.

Indiabulls Housing Finances consolidated net profit rose 22.58% to Rs 675.50 crore on 25.01% rise in total income to Rs 2647.18 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 25 April 2016.

Axis Bank and Maruti Suzuki India will announce their Q4 results today, 26 April 2016.

Tata Chemicals said that operations at the companys fertiliser plant at Babrala, Uttar Pradesh have resumed after temporary shutdown for scheduled maintenance. It may be recalled that the company had on 22 March 2016 informed about temporary shutdown of Babrala plant. The announcement was made after market hours yesterday, 25 April 2016.

Uttam Galva Steels (UGSL) said that India Ratings and Research (IndRa) has downgraded the companys LongTermIssuer Rating to IND D from IND BBB+ while resolving the Rating Watch Negative (RWN). The agency has also downgraded the ratings on UGSLs various bank facilities to IND D from IND BBB+/RWN and IND A2/RWN. The downgrade is driven by UGSLs ongoing delays in debt servicing since February 2016. The delays are a result of the liquidity stress currently being faced by the company given the challenging operating environment and its inability to refinance its longterm borrowings according to its earlier proposed refinancing scheme. The agency has taken a consolidated view of UGSL and its subsidiaries. The announcement was made after market hours yesterday, 25 April 2016.

Astra Microwave Products said that CRISIL has reaffirmed and assigned n++CRISIL A+/n++ Stable for the long-Term bank facilities and reaffirmed n++CRISIL A1n++ for the Short-Term bank facilities of the company. The announcement was made after market hours yesterday, 25 April 2016.

Vakrangee announced corporate agency tie up with Reliance General Insurance Company to distribute general insurance products through Vakrangees distribution network. Citizens, especially in un-served and underserved areas shall be able to access quality general insurance products and services offered/to be offered by Reliance General Insurance Company, Vakrangee said. The announcement was made at fag end of the days trading session yesterday, 25 April 2016.

Shoppers Stop announced that the company has opened its Shoppers Stop store at Logix City Centre Mall, Noida. With this, the company has now 79 Shoppers Stop, (including five airport stores) stores under its operations. The announcement was made before market hours today, 26 April 2016.

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RIL may gain after announcing good Q4 results
Apr 25,2016

Reliance Industries (RIL)s consolidated net profit rose 15.93% to Rs 7398 crore on 10.95% fall in total income to Rs 62010 crore in Q4 March 2016 over Q4 March 2015. Profit before interest, depreciation and tax (PBDIT) rose 16.9% to Rs 13994 crore in Q4 March 2016 over Q4 March 2015. Earnings before interest and tax (EBIT) margin increased by 3.22% to 12.1% in Q4 March 2016 as compared with Q4 March 2015. The result was announced after market hours on Friday, 22 April 2016. Decline in revenue was led by the 41.4% decline in benchmark oil price which averaged at $30.4 per barrel in Q4 March 2016 as compared to $51.9 per barrel in Q4 March 2015. Based on standalone performance, the gross refining margin (GRM) increased to $10.80 per barrel in Q4 March 2016 from $10.10 per barrel in Q4 March 2015.

On consolidated basis, Cairn India reported net loss of Rs 10948.22 crore in Q4 March 2016, higher than net loss of Rs 240.82 crore in Q4 March 2015. Net total income from operations declined 35.87% to Rs 1716.83 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 22 April 2016.

Cairn Indias bottom line during the quarter was dragged down due to impairment charges. Due to decline in crude oil prices in the international market, the company has recorded an impairment on the carrying value of goodwill and some of its non-producing oil and gas assets aggregating to Rs 11389.63 crore and Rs 284.17 crore respectively in Q4 March 2016.

Cairn India said it is committed to the companys merger with Vedanta and continue to work towards its completion. The merger would generate value for the shareholders and de-risks Cairn India by providing access to a portfolio of diversified assets in a volatile market and deliver significant near term growth, the company said in a statement.

With regard to its business outlook for the current financial year (FY 2017), Cairn India said it aims to maintain production from Rajasthan asset broadly at FY 2016 level. With an estimated net capex of $100 million, the company plans to invest 80% in development (primarily RDG Gas and Mangala EOR completion activities) and 20% in exploration. Cairn India said it will continue investing in pre-development activities of its key projects in Core MBA fields, Barmer Hills and Satellite fields, to ensure project readiness for development with rebound in oil prices and grant of extension of Production Sharing Contract (PSC). Cairn India said it maintains the flexibility to raise its capital investment as oil prices improve and aim to generate a healthy cash flow post capex so as to retain the ability to pay dividends.

UltraTech Cement announces Q4 results today, 25 April 2016.

TCS announced that to aid the growing demand for network services due to rise of smart devices and increasing mobile data traffic it has launched Mobile Network Function Virtualization (NFV) Management framework for anytime-anywhere NFV monitoring and management for Red Hat OpenStack Platform.

NFV enables operators to monetize their cloud infrastructure more effectively by providing capabilities to start new services quickly and seamlessly meet changing network demands. It also provide them with the ability to monitor their cloud environment and make critical business decisions in near real time. The TCS framework enables the Network administrators to securely and flawlessly monitor and manage critical operations with Red Hat OpenStack Platform. The announcement was made after market hours on Friday, 22 April 2016.

Bharti Airtel announced on Saturday, 23 April 2016, that its board of directors will consider a proposal for buyback of equity shares on 27 April 2016 when it is announcing Q4 March 2016 results. The board will also consider payment of final dividend for the year ended 31 March 2016.

Wipro announced that it has fixed 6 May 2016 as the record date for the purpose of buyback of equity shares. The announcement was made after market hours on Friday, 22 April 2016.

Shriram Transport Finance Company announced that the Banking and Finance Committee of the company in its meeting held on 22 April 2016 approved and allotted 260 secured redeemable non-convertible debentures(NCDs) of face value of Rs 10 lakhs each, aggregating to Rs 26 crore on private placement basis. NCDs have a tenure of 10 years and coupon rate of 9.2% per annum. The announcement was made after market hours on Friday, 22 April 2016.

Tata Communications announced that it has made additional investment of 5% equity in Smart ICT Services following Smart ICTs board of directors approval to transfer 5% of stake held by Centios Co to Tata Communications. Following the transfer, Tata Communications stake in Smart ICT increased to 24% from the earlier 19% and consequently Smart ICT became associate of the company. Smart ICT has been awarded a contract by the Gujarat International Finance Tec-city (GIFT) to design, finance, establish, install, test, commission and operate and maintain the ICT in GIFT city. The announcement was made after market hours on Friday, 22 April 2016.

DIC Indias net profit rose 26.98% to Rs 7.20 crore on 2.74% decline in net total income from operations to Rs 168.75 crore in Q1 March 2016 over Q1 March 2015. The result was announced after market hours on Friday, 22 April 2016.

Dewan Housing Finance Corporation announced that the company proposes to issue 130 secured redeemable non-convertible debentures aggregating to Rs 13 crore on private placement basis. The announcement was made after market hours on Friday, 22 April 2016.

Mahindra & Mahindra Financial Services consolidated net profit rose 12% to Rs 411.32 crore on 13.37% rise in total income to Rs 1904.87 crore in Q4 March 2016 over Q4 March 2015. The result was announced on Saturday, 23 April 2016.

Honda Siel Power Products announced that as a part of make in India initiative and renewed thrust on farm mechanization, the company has announced the launch of indigenously built power tiller to cater to the vast domestic market as well as other emerging markets globally. The announcement was made on Saturday, 23 April 2016.

Astral Poly Technik announced that it has has executed lease agreement with Rajasthan State Industrial Development & Investment Corporation (RIICO) for lease of land admeasuring 32,500 square metres situated at Plot No. SP5-132, Ghilot Industrial Area, Dist: Alwar, Rajathan. The company intends to set up a unit for manufacturing of PVC/CPVC pipes/fittings to cater to the demand of North India. The announcement was made on Saturday, 23 April 2016.

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RIL in spotlight ahead of Q4 earnings
Apr 22,2016

Reliance Industries is scheduled to announce its Q4 March 2016 results today, 22 April 2016.

Among other prominent companies, Cairn India and HDFC Bank are scheduled to announce their Q4 March 2016 earnings today, 22 April 2016.

Bharti Infratel said that the companys board of directors will consider the recommendations for distribution of profits till the year ended 31 March 2016 (FY 2016), by way of dividend or buyback of a portion of fully paid up equity shares or a combination thereof, in its meeting to be held on 26 April 2016, when the company announces its FY 2016 results. The announcement was made before market hours today, 22 April 2016.

Hindustan Zincs net profit rose 8% to Rs 2149 crore on 25% decline in revenue to Rs 3070 crore in Q4 March 2016 over Q4 March 2015. The result was announced at the fag end of the trading session yesterday, 21 April 2016. The decrease in revenue was on account of lower zinc volumes and LME prices, partly offset by higher volumes of lead & silver and rupee depreciation. Net profit rose helped by higher other income due to mark to market gains on investment income. Additionally, the provision for tax during the quarter was negative largely on account of substantial liquidation of investments at year end for payment of special dividend; the corresponding realised profits were set off by carried forward tax losses, significantly lowering the tax for the year.

The zinc metal cost of production per metric tonne (MT) before royalty stood at Rs 58044 ($853) in Q4 March 2016, higher by 4% from a year ago in dollar terms and 14% in rupee terms. The increase was due to lower production volumes from Rampura Agucha open cast mine in accordance with mine plan resulting in lower average grades. This was further accentuated by higher mine development, partly offset by lower coal & commodity prices. Looking at the recent commodity price downturn, the company has re-negotiated several contracts to optimize costs and expect this to translate into significant savings in year ending 31 March 2017 (FY 2017).

The company expects to reach the 1.2 million tonnes per annum (mtpa) mined metal production capacity within the next three years.

Power Finance Corporation announced that Odisha Generation Phase-II Transmission, established for development of common transmission system for phase-II generation projects in Odisha, has been transferred to Sterlite Grid 3, the successful bidder. Odisha Generation Phase-II Transmission is a wholly owned subsidiary of PFC Consulting, which in turn is a wholly owned subsidiary of Power Finance Corporation. The announcement was made after market hours yesterday, 21 April 2016.

Dishman Pharmaceuticals and Chemicals announced that it has fixed 3 May 2016 as the record date for the purpose of 1:1 bonus issue of shares. The announcement was made after market hours yesterday, 21 April 2016.

UFO Moviez India announced that the rating committee of ICRA has reaffirmed its long-term rating on the company of [ICRA] A plus. The outlook on the long-term rating has been upgraded to positive from stable. The rating committee of ICRA has upgraded its short-term rating on the company to [ICRA]A1 plus from [ICRA] A1. These ratings are valid till 30 March 2017. The announcement was made after market hours yesterday, 21 April 2016.

BS announced that a meeting of the board of directors of the company will be held on 29 April 2016, inter alia, to consider, discuss and review the status of the strategic business plan of the company with respect to acquisition of assets, which was approved by the board of directors and shareholders of the company at their meetings held on 20 May 2015 and 30 September 2015 respectively. The announcement was made after market hours yesterday, 21 April 2016.

Panyam Cements & Mineral Industries announced that a meeting of the board of directors of the company will be held on 28 April 2016, to consider and approve allotment of secured redeemable non convertible debentures to EW India Special Assets Fund and ECap Equities. The announcement was made after market hours yesterday, 21 April 2016.

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Wipro in spotlight after announcing Q4 results
Apr 21,2016

Wipros consolidated net profit fell 2% to Rs 2240 crore on 12% rise in gross revenue to Rs 13630 crore in Q4 March 2016 over Q4 March 2015. The results are as per International Financial Reporting Standards (IFRS). The result was announced after market hours yesterday, 20 April 2016.

Revenue from IT services business rose 2.4% to $1,882 million in Q4 March 2016 over Q3 December 2015. On sequential basis, the company expects 1% to 3.02% growth in revenue from IT services business at between $1,901 million to $1,939 million in Q1 June 2016.

On an annualized basis, the employee attrition rate dropped to 14.9% in Q4 March 2016 from 16.3% in Q3 December 2015.

Wipros board of directors approved a proposal to buyback up to 4 crore equity shares of the company for an aggregate amount of up to Rs 2500 crore, being 1.62% of the total paid up equity share capital. The buyback will be through the tender offer route at Rs 625 per share. The promoters of the company have indicated their intention to participate in the proposed buyback.

TCS announced the release of a new TCS Intelligent Urban Exchange (IUX) application for Intelligent Water. The new urban analytics application offers pre-built use cases to cost-effectively reduce Non Revenue Water (NRW) loss and ensure delivery of safe, reliable water. The application leverages IUXs scalable analytics platform to allow cities and partners to easily integrate and localize, in order to accelerate the deployment of smart city solutions and enable a future-ready infrastructure for cross domain urban solutions. The announcement was made after market hours yesterday, 20 April 2016.

Among prominent earnings, Hindustan Zinc and IndusInd Bank are scheduled to announce their Q4 March 2016 results today, 21 April 2016.

Tata Steel in a press statement with regard to media news of a potential management buyout bid for Tata Steel UK said that Tata Steel Europe welcomes credible expressions of interest for Tata Steel UKs operations. It is the companys policy not to mention, confirm or comment on any potentially interested investor or bidder at this point, Tata Steel said. All expressions of interest, including any management buyout proposals, will be considered when received, it added. In the interests of all stakeholders every credible expressions of interest will enter the same rigorous assessment process to ensure the best value and prospects of sustainability, Tata Steel said in a statement. The announcement was made after market hours yesterday, 20 April 2016.

Mahindra & Mahindra (M&M) announced that India Ratings and Research (Ind-Ra) has affirmed the long-term issuer rating of M&M at IND AAA with a stable outlook. The rating on its Rs 800 crore non-fund-based bank lines has also been reaffirmed at IND A1+. The announcement was made after market hours yesterday, 20 April 2016.

Jay Bharat Marutis net profit rose 26.64% to Rs 12.69 crore on 1.22% growth in net total income from operations to Rs 339.31 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 20 April 2016.

Tide Water Oil (India) announced that it has acquired 100% stake in Price Thomas Holdings (PTHL), a UK based company for GBP 9.59 million. PTHL was incorporated on 14 May 1998. The announcement was made after market hours yesterday, 20 April 2016. PTHL along with its subsidiary is a manufacturer and supplier of lubricants & car care products in the UK and few overseas automative markets. It is a small sized company and has operations primarily in UK. Apart from UK, PTHL exports its products to Ireland, Sweden and Bulgaria. PTHL registered profit before tax (PBT) of GBP 0.87 million on gross revenue of GBP 10.92 million for the year ended 31 December 2014. No governmental or regulatory approvals are required for the acquisition as it falls within automatic approval route of Reserve Bank of India (RBI) policy. The share purchase agreement has been signed on 19 April 2016. The post acquisition formaliities are expected to conclude shortly. The proposed acquisition is envisaged to result in competitive product pricing of Tide Water Oil in the European market.

Stone India said that it has bagged on 20 April 2016 an order for supply & installation of 9,090 units of bio-toilets to Government of Chattisgarh valuing Rs 28.70 crore via its business associate, Cranberry Westlink T & D Inc. This is the single largest order of bio toilets for Stone India. The announcement was made after market hours yesterday, 20 April 2016.

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TCS in spotlight after announcing Q4 results
Apr 20,2016

TCS consolidated net profit rose 5.4% to Rs 6413 crore on 4% rise in revenue to Rs 28449 crore in Q4 March 2016 over Q3 December 2015. TCS has recommended a final dividend of Rs 27 per share for the year ended 31 March 2016 (FY 2016). The result was announced after market hours on Monday, 18 April 2016. Operating profit rose 2.1% to Rs 7380 crore in Q4 March 2016 over Q3 December 2015. Earning per share (EPS) stood at Rs 32.54 in Q4 March 2016 compared with Rs 30.88 in Q3 December 2015. Q4 March 2016 saw a broad based growth with the core portfolio performing strongly led by BFSI, retail and manufacturing.

TCS top management in a post Q4 result conference call stated that with most of the headwinds behind, the company is well placed to deliver a strong performance in FY 2017. The management believes that TCS scale and digital capability positions the company strongly to become the preferred digital partner for more and more clients and win a disproportionate share of their incremental digital spending. BFSI, North America and Continental Europe have shown very good resilience and have grown very well in Q4 March 2016 with a good exit, building up strong momentum going into FY 2017. The business in Latin America has turned the corner and has done very well during the last couple of quarters.

Wipro is scheduled to announce its Q4 March 2016 results today, 20 April 2016.

MindTrees consolidated net profit rose 3.4% to Rs 156 crore on 9% rise in revenue to Rs 1324.20 crore in Q4 March 2016 over Q3 December 2015. MindTree has recommended a final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016). The company has added 1,020 employees during Q4 on gross basis. The result was announced after market hours on Monday, 18 April 2016.

HDFC before market hours today, 20 April 2016, announced that it intends to sell up to 10% of the paid-up share capital of its subsidiary HDFC Standard Life Insurance Company (HDFC Life) through offer for sale (OFS) in the initial public offer (IPO) of HDFC Life subject to market conditions as well as receipt of various applicable approvals including that of Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority of India (IRDAI) to the extent applicable or required. As on 31 March 2016, HDFC held 61.63% of the issued and paid-up share capital of HDFC Life. Post the sale of shares, HDFC Life would continue to be a subsidiary of HDFC.

HDFC Life reported profit after tax of Rs 818 crore on total income of Rs 17954 crore in the year ended 31 March 2016 (FY 2016). It reported gross premium income of Rs 16313 crore in FY 2016. Net worth as on 31 March 2016 was Rs 3150 crore.

Dr Reddys Laboratories announced that its subsidiary Promius Pharma LLC has commercially launched ZEMBRACE SymTouch in the United States. ZEMBRACE SymTouch is a prescription medicine used to treat acute migraine headaches with or without aura in adults who have been diagnosed with migraine. The announcement was made on Tuesday, 19 April 2016, when the stock market was closed for a holiday.

Tata Steel announced changes in leadership at Tata Steel UK. Bimlendra Jha, an Executive Committee member of Tata Steel Europe has been appointed as the Chief Executive Officer of Tata Steel UK. Jha is currently Executive Chairman of Tata Steel Europes Long Products Europe business and has successfully led the divestment process that resulted in the signing of a sale and purchase agreement with Greybull Capital on 11 April 2016. The announcement was made after market hours on Monday, 18 April 2016.

Meanwhile, Tata Steel Europe has appointed Standard Chartered Bank as an additional adviser for the divestment of its entire holding in its British subsidiary Tata Steel UK. On 11 April 2016, Tata Steel Europe announced that the company has commenced the formal process for the divestment of its entire holding in its British subsidiary Tata Steel UK. Tata Steel Europe has decided to sell its entire holding in Tata Steel UK due to the deteriorating financial performance of the UK subsidiary.

Tata Communications announced on Tuesday, 19 April 2016 that it will be expanding its partnership with Asian Television Network (ATN) Canada, the countrys largest South Asian broadcaster, to bring the networks content to Canadian viewers, with potential for further international expansion. Using Tata Communications Media Ecosystem, ATN Canada will deliver a mix of news, sports and entertainment content to Canadian viewers on virtually any device later this summer, according to a combined statement issued by both the companies.

Gruh Finances net profit rose 18.57% to Rs 87.82 crore on 20.3% growth in total income to Rs 366.91 crore in Q4 March 2016 over Q4 March 2015. The result was announced on Tuesday, 19 April 2016, when the stock market was closed for a holiday.

CRISILs consolidated net profit rose 39.55% to Rs 78.60 crore on 18.61% growth in total income to Rs 368.57 crore in Q1 March 2016 over Q1 March 2015. The result was announced on Tuesday, 19 April 2016, when the stock market was closed for a holiday.

IFCI announced that it is opening an issue of secured, redeemable, non-convertible bonds in the nature of debentures of upto Rs 575 crore by way of private placement on 25 April 2016. The issue closes on 29 April 2016. The tenure of bonds is 5.5 years and will carry coupon of 8.55% per annum semi-annual. The bonds are proposed to be listed on BSE. IFCI said that credit enhancement for the non-convertible debentures (NCD) issue has been carried out by way of structured payment mechanism, backed by G-Secs (special security issued by Government of India) of Rs 400 crore, with lien by debenture trustee on its cash flows, to ensure the timely payment of interest & principal obligations on the NCD issue. The announcement was made after market hours on Monday, 18 April 2016.

Eveready Industries India (EIIL) announced that credit ratings agency Credit Analysis & Research (CARE) has upgraded its rating on long term bank facilities of the company in respect of term loan from ICICI Bank. The rating has been revised upwards to CARE A plus from CARE A. The announcement was made after market hours on Monday, 18 April 2016. CARE in its report dated 14 April 2016 said that the revision in the rating assigned to the bank facilities of EIIL takes into account the improvement in financial performance in FY 2015 and nine months of FY 2016 marked by improvement in profitability margins and capital structure. The rating continues to draw strength from the long track record of operations, significant experience of the management, established brand presence with leadership position in the battery and flashlight segments, wide product range and strong distribution network, CARE said. The ratings continue to be constrained by the volatility in the price of raw materials and foreign exchange fluctuation risk, it said. The ratings also take note of the recent foray of EIIL in the kitchen appliances segment and risk associated with the ongoing expansion project, the ratings agency said. Successful completion of the ongoing project, maintaining profitability margins and capital structure along with increase in scale of operations through successful diversification into new segments are the key rating sensitivities, CARE said in its report.

BEML announced after market hours on Monday, 18 April 2016 that by leveraging the infrastructure and technology base developed for mining & construction machinery, it has entered into dredging business. With an objective of strengthening the Make in India initiative by Government of India, BEML has signed a Memorandum of Understanding (MoU) with Dredging Corporation of India for indigenous design, development and manufacture of spares for dredgers. The MoU is for supply of various types of spares for the existing dredgers and also supply of backhoe excavators for new dredgers. Spares include heavy fabricated and machined components and hydraulic aggregates.

Shipping Corporation of India announced after market hours on Monday, 18 April 2016 that it has signed Memorandum of Agreement (MOA) with Greatship Global Offshore Services, Singapore for acquisition of one second hand Platform Supply Vessel (PSV),having deadweight of about 3,000 tons with DP-2 capabilities.

Reliance Defence and Engineering announced after market hours on Monday, 18 April 2016 that a meeting of the board of directors of the company will be held on 22 April 2016, to consider augmenting long term resources by issue of equity shares by way of rights issue.

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