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Muthoot Finance gains after posting strong Q1 numbers
Jul 29,2016

The result was announced after market hours yesterday, 28 July 2016.

Meanwhile, the BSE Sensex was down 70.10 points, or 0.25% to 28,138.52.

High volumes were witnessed on the counter. On BSE, so far 1.54 lakh shares were traded in the counter, compared with an average volume of 75,434 shares in the past one quarter. The stock hit a high of Rs 340, which is also a record high for the stock. The stock hit a low of Rs 326.35 so far during the day. The stock hit a 52-week low of Rs 152 on 23 September 2015. The stock had outperformed the market over the past one month till 28 July 2016, rising 14.15% compared with 6.35% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 52.06% as against Sensexs 10.18% rise.

The large-cap company has an equity capital of Rs 399.05 crore. Face value per share is Rs 10.

Muthoot Finance said that retail loans registered an increase of 48% to Rs 1481 crore in Q1 June 2016 over Q1 June 2015. Asset under management (AUM) has increased by 6% at Rs 25860 crore at the end of 30 June 2016 as against Rs 24409 crore as on 30 June 2015.

The company has infused Rs 40 crore as fresh capital acquiring 38.23% of the expanded equity share capital of Belstar Investment and Finance Private Limited (BIFPL), thereby holding 46.83% in the company in July 2016. Furtheracquisition of 10.32% from the existing shareholders is expected to be completed soon thereby taking the total holding to 57.15% making it a subsidiary. During the quarter its loan portfolio grew by 9% at Rs 287 crore.

Commenting on the results, M G George Muthoot, Chairman stated that the current excellent performance could be attributed to total revamp in collection mechanism, structural changes made in operations and improved customer sentiment due to better practices adopted by the company. During Q1 June 2016, the company could reduce the auctions drastically which is a step in the right direction. The company should expect growth momentum to continue with economic activities expected to pick up on account of good monsoon, he added.

Speaking on the occasion George Alexander Muthoot, Managing Director said, that forays into other business segments is yielding benefits to the group and business of these segments are picking up. The company would like to tread a cautious path rather than be aggressive on these new segments, he added.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio.

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Tamil Nadu Newsprint gains on strong Q1 results
Jul 29,2016

The company announced the first quarter earnings after trading hours yesterday, 28 July 2016.

Meanwhile, the S&P BSE Sensex, was currently down 83.80 points or 0.3% at 28,124.82.

On BSE, so far 84,913 shares were traded in the counter, compared with an average daily volume of 31,528 shares in the past one quarter. The stock hit a high of Rs 299 and low of Rs 290 so far during the trading session. The stock had hit record high of Rs 308 in intraday trade yesterday, 28 July 2016, ahead of the announcement of the results. The stock hit 52-week low of Rs 174.20 on 10 September 2015. The stock had underperformed the market over the past one month till 28 July 2016, gaining 3.1% compared with 6.35% gains in the Sensex. The scrip had outperformed the market in past one quarter, surging 22.34% as against the Sensexs 10.18% rise.

The small cap company has equity capital of Rs 69.21 crore. Face value per share is Rs 10.

In a press release on the first quarter results, Tamil Nadu Newsprint & Papers said that the companys paperboard product is well accepted in the market and production is being gradually stepped up.

Tamil Nadu Newsprint & Papers (TNPL) manufactures newsprint and printing & writing paper using bagasse, a sugarcane residue, as primary raw material. The company is promoted by the Tami Nadu state government which owns 35.32% stake in the company.

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UltraTech Cement gains after winning two coal linkages
Jul 29,2016

The announcement was made after market hours yesterday, 28 July 2016.

On BSE, so far 1,972 shares were traded in the counter as against average daily volume of 21,643 shares in the past one quarter. The stock hit high of Rs 3,722.25 and a low of Rs 3,679 so far during the day. The stock had hit a record high of Rs 3,723.90 yesterday, 28 July 2016. The stock had hit a 52-week low of Rs 2,581.15 on 18 January 2016. The stock had outperformed the market over the past one month till 28 July 2016, rising 8.35% compared with 6.35% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 16.44% as against Sensexs 10.18% rise.

The large-cap company has equity capital of Rs 274.44 crore. Face value per share is Rs 10.

UltraTech Cement said that it won two coal linkages of 27,600 tons and 19,700 tons from Dipka Mines (SCDG) in Chhattisgarh after participating in the auction of coal linkages for captive power plant sub-sector. The company said that both the coal linkages were won at a premium of Rs 150 over notified price of Rs 970 per ton. A formal communication vesting the linkages in the companys favour is expected in due course. The company said it intends to participate in the future linkage auctions for its plants located strategically near the coal mines.

UltraTech Cements consolidated net profit rose 29.2% to Rs 780.11 crore on 4.1% growth in net sales to Rs 6537.83 crore in Q1 June 2016 over Q1 June 2015.

UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.

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Eicher Motors gains after reporting stellar Q1 results
Jul 29,2016

The result was announced after market hours yesterday, 28 July 2016.

Meanwhile, the BSE Sensex was down 57.17 points, or 0.14%, to 28,168.95.

On BSE, so far 1,649 shares were traded in the counter, compared with an average volume of 4,328 shares in the past one quarter. The stock hit a high of Rs 22,080, which is also a record high for the stock. The stock hit a low of Rs 21,526.05 in intraday trade.

Eicher Motors (EML)s earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to 30.2% in Q1 June 2016 from 26.1% in Q1 June 2015.

Commenting on the companys performance Mr. Siddhartha Lal, Managing Director & CEO Eicher Motors said that Eicher Motors has started the new financial year on strong note and reported its best ever quarter results registering 42% growth and posting the highest ever quarterly income from operations at Rs 1556 crore for Q1 June 2016. In this quarter, EML also recorded its highest ever and best-in-class EBIDTA margin at 30.2%, he added.

Commenting on Royal Enfields performance, Siddhartha said that Royal Enfield has maintained its strong volume growth in Q1 June 2016 and the company continues to take more orders than monthly supply. The response to Himalayan- Royal Enfields first adventure-tourer, has been extremely encouraging and it is now available for booking across the country. The company continues to expand footprint in India with 566 dealerships now open across the country. The companys immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally, he added.

In Q1 June 2016, Royal Enfield continued with its focus on the overseas markets. In June 2016, Royal Enfield opened its store in Manila, Philippines with its global retail identity. With a large chunk of the population using commuter motorcycles, there is an enormous potential for customers to upgrade to mid-sized motorcycles, a segment in which Royal Enfield operates, he added.

Commenting on VE Commercial Vehicles (VECV)s performance, Siddhartha said that VECV demonstrated an impressive performance in Q1 June 2016 with sales of 16,071 units recording a growth of 32.5% over Q1 June 2015. VECV also increased its overall market share to 15.1% in Q1 June 2016, as compared to 13.2% recorded in Q1 June 2015. VECV continues to do well in the sub 5-ton category with the introduction of Pro 1049 where it is currently selling more than 100 trucks every month since its launch in the last quarter. Eicher Motors 50:50 joint venture with Polaris Industries, Eicher Polaris Private Ltd., through its product Multix is generating a lot of interest among its target customers. Multix is now present in 50 locations across 8 states and it continues to gain momentum in its target markets, he further added.

Eicher Motors is the flagship company of the Eicher Group. EML is one of the leading players in the Indian automotive space. Eicher Motors owns the iconic Royal Enfield motorcycle business which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient trucks and buses.

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Indian Hume Pipe Company hits the roof on robust Q1 results
Jul 28,2016

The result was announced during market hours today, 28 July 2016.

Meanwhile, the S&P BSE Sensex was up 209.80 points or 0.75% at 28,234.13.

High volumes were witnessed on the counter. On BSE, so far 52,632 shares were traded in the counter as against average daily volume of 2,066 shares in the past one quarter. The stock hit a low of Rs 516 in intraday trade.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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Claris Lifesciences gains as two foreign funds mop up shares sold by a promoter group firm
Jul 28,2016

Meanwhile, the S&P BSE Sensex, was up 209.16 points or 0.75% at 28,233.49

On BSE, so far 3.72 lakh shares were traded in the counter, compared with an average daily volume of 2.15 lakh shares in the past one quarter. The stock hit a high of Rs 258.95 and low of Rs 247.50 so far during the trading session. The stock had hit 52-week high of Rs 270 on 26 July 2016. The stock had hit 52-week low of Rs 126.10 on 12 February 2016. The stock had outperformed the market over the past one month till 27 July 2016, gaining 16.94% compared with 6.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 57.14% as against the Sensexs 7.52% rise.

The small cap company has equity capital of Rs 54.57 crore. Face value per share is Rs 10.

As per the bulk deals data on BSE yesterday, 27 July 2016, foreign fund East Bridge Capital Master Fund bought 24.20 lakh shares of Claris Lifesciences at an average price of Rs 210 per share. Another foreign fund Morgan Stanley Asia Singapore Pte bought 7.83 lakh shares at an average price of Rs 210 per share. In the same bulk deal, promoter group firm Abellon Energy offloaded 46 lakh shares at an average price of Rs 211.66 per share. Abellon Energy was holding 59.28 lakh shares of the company constituting at 10.86% stake as on 30 June 2016, as per the companys shareholding pattern available with the stock exchanges. The total holding of promoters in the company stood at 60.99% as on 30 June 2016. The Claris Lifesciences stock had lost 0.46% to settle at Rs 245.45 on BSE yesterday, 27 July 2016, when the bulk deal was executed.

Claris Lifesciences consolidated net profit fell 65.8% to Rs 3.57 crore on 7.77% rise in net sales to Rs 166.76 crore in the quarter ended 31 March 2016 over the quarter ended 31 March 2015.

Claris Lifesciences is the holding company of Claris Injectables. Claris Injectables is a wholly-owned subsidiary of Claris Injectables dealing in specialty injectables business. Claris Lifesciences is also the holding company of Claris Otsuka Private Limited, a joint venture with Japans Otsuka Pharmaceutical Factory, Inc. and Mitsui & Co. for Infusion business in India and emerging markets.

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Meghmani Organics slumps after a fire accident at Dahej plant
Jul 28,2016

The announcement was made during market hours today, 28 July 2016.

Meanwhile, the S&P BSE Sensex was up 71.56 points or 0.26% at 28,095.89.

High volumes were witnessed on the counter. On BSE, so far 12.44 lakh shares were traded in the counter as against average daily volume of 7.54 lakh shares in the past one quarter. The stock hit a high of Rs 48.30 and low of Rs 42.60 so far during the day. The stock had hit a 52-week high of Rs 49.75 on 26 July 2016. The stock had hit a 52-week low of Rs 17.30 on 8 September 2015. The stock had outperformed the market over the past one month till 27 July 2016, rising 24.9% compared with 6.14% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 56.03% as against Sensexs 7.52% rise.

The mid-cap company has equity capital of Rs 25.43 crore. Face value per share is Rs 1.

Meghmani Organics announced that an accidental fire broke out at 22.25 IST yesterday, 27 July 2016 in one of the manufacturing sections at its pigment manufacturing division situated at plot no. Z31, Z32, Dahej SEZ, Dahej, Bharuch, Gujarat. The plant has four manufacturing sections supported by other sub-sections. Only one manufacturing section of Beta Blue got affected due to fire.All the staff members are safe and no one was injured during the incident. The company is ascertaining the loss and also investigating the cause of the fire, it added.

On consolidated basis, Meghmani Organics net profit rose 50.4% to Rs 23.38 crore on 24% rise in net sales to Rs 356.37 crore in Q4 March 2016 over Q4 March 2015.

Meghmani Organics is a manufacturer of pigments and agrochemicals. The company specializes in the manufacture of green and blue pigment products that span multiple applications. The company also produces a broad spectrum of commonly used pesticides for crop and non-crop applications.

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Sudarshan Chemical hits record high on buying by foreign fund
Jul 28,2016

Meanwhile, the S&P BSE Sensex was up 98.35 points or 0.35% at 28,122.68.

On BSE, so far 2.67 lakh shares were traded in the counter, compared with an average daily volume of 1.41 lakh shares in the past one quarter. The stock hit a high of Rs 331.85 so far during the trading session, which is a record high for the counter. The stock hit a low of Rs 310.50 so far during the day. The stock hit a 52-week low of Rs 78 on 12 February 2016. The stock had outperformed the market over the past one month till 27 July 2016, surging 60.26% compared with 6.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 188.6% as against Sensexs 7.52% rise.

The small cap company has equity capital of Rs 13.85 crore. Face value per share is Rs 2.

Morgan Stanley Asia (Singapore) Pte mopped up additional 3.64 lakh shares of Sudarshan Chemical Industries at an average price of Rs 302.50 per share via a bulk deal on NSE yesterday, 27 July 2016. The same foreign fund had bought 3.55 lakh shares of the company at an average price of Rs 288.53 per share via bulk deal on NSE on 25 July 2016.

Sudarshan Chemical Industries net profit jumped 514% to Rs 21.92 crore on 16.3% growth in net sales to Rs 313.71 crore in Q4 March 2016 over Q4 March 2015.

Sudarshan Chemical Industries is one of the leading manufacturers of color & effect pigments in India. It products primarily serve the coatings, plastics, inks and cosmetics markets.

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Punjab National Bank drops on weak Q1 results, rise in sticky loans
Jul 28,2016

The result was announced during market hours today, 28 July 2016.

Meanwhile, the S&P BSE Sensex was up 105.43 points or 0.38% at 28,129.76.

High volumes were witnessed on the counter. On BSE, so far 59.31 lakh shares were traded in the counter as against average daily volume of 18.25 lakh shares in the past one quarter. The stock hit a high of Rs 136.40 and a low of Rs 129.70 so far during the day. The stock had hit a 52-week high of Rs 180.50 on 17 August 2015. The stock had hit a 52-week low of Rs 69.40 on 17 February 2016. The stock had outperformed the market over the past one month till 27 July 2016, rising 27.4% compared with 6.14% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 47.34% as against Sensexs 7.52% rise.

The large-cap public sector bank has equity capital of Rs 392.72 crore. Face value per share is Rs 2.

On absolute basis, Punjab National Banks gross non-performing assets rose to Rs 56654.09 crore as on 30 June 2016 from Rs 55818.33 crore as on 31 March 2016 and Rs 25397.42 crore as on 30 June 2015. Yes Banks ratio of gross NPA to gross advances edged higher to 13.75% as on 30 June 2016 from 12.9% as on 31 March 2016 and 6.47% as on 30 June 2015. The ratio of net NPA to net advances rose to 9.16% as on 30 June 2016 from 8.61% as on 31 March 2016 and 4.05% as on 30 June 2015. Provisions and contingencies jumped 51.06% to Rs 2736.38 crore in Q1 June 2016 over Q1 June 2015.

Punjab National Bank also announced that the board of directors of the bank at its meeting held today, 28 July 2016, approved convening of Extra Ordinary General Meeting (EGM) of the shareholders of the bank on 31 August 2016 for approval of shareholders for issuance and allotment of such number of equity shares of face value of Rs 2 each to government of India on preferential basis at a price to be determined as on the relevant date aggregating Rs 2,112 crore. The relevant date for determination of the issue price is 29 July 2016.

The Government of India held 62.08% stake in PNB (as per the shareholding pattern as on 30 June 2016).

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Yes Bank hits record high after strong Q1 earnings
Jul 28,2016

The stock hit high of Rs 1,226.65 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,203.05 so far during the trading session. On BSE, so far 1.92 lakh shares changed hands in the counter.

Meanwhile, the S&P BSE Sensex was currently up 90.29 points or 0.32% at 28,114.62.

Shares of Yes Bank had ended a tad lower at Rs 1,200.10 on BSE yesterday, 27 July 2016, after the announcement of the results during trading hours. Yes Banks net profit rose 32.76% to Rs 731.80 crore on 25.43% growth in total income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015. At the time of announcement of the first quarter results, the private sector bank said that it continues to show resilience on all asset quality parameters.

Yes Banks CASA (current and savings account) deposits ratio improved to 29.6% as on 30 June 2016 from 23.4% as on 30 June 2015.

Yes Bank received an in-principle approval from the Securities & Exchange Board of India (Sebi) this week to sponsor a mutual fund and set up an asset management company (AMC) and a trustee company. The bank plans to commence mutual funds business within 12 months.

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Bajaj Holdings & Investment drops after weak Q1 outcome
Jul 28,2016

The result hit the market after trading hours yesterday, 27 July 2016.

Meanwhile, the S&P BSE Sensex was up 79.89 points or 0.29% at 28,104.

The stock hit a high of Rs 1,825 and a low of Rs 1,745 so far during the day. The stock hit 52-week high of Rs 1,898 in intraday trade yesterday, 27 July 2016. The stock hit a 52-week low of Rs 1,310.85 on 12 February 2016. The stock had outperformed the market over the past one month till 27 July 2016, rising 18.13% compared with 6.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 27.17% as against Sensexs 7.52% rise.

The large cap company has equity capital of Rs 111.29 crore. Face value per share is Rs 10.

On a standalone basis, BHIL is largely dependent on stock and money markets for its income. In a press release, BHIL said that on standalone basis, its net profit fell 30.08% to Rs 86 crore in Q1 June 2016 over Q1 June 2015. Profit on sale of investments (net) declined to Rs 51 crore in Q1 June 2016 from Rs 64 crore in Q1 June 2015. Interest and other income fell to Rs 63 crore Q1 June 2016 from Rs 69 crore. Dividend income fell sharply to Rs 1 crore in Q1 June 2016 from Rs 26 crore in Q1 June 2015.

Bajaj Holdings & Investment (BHIL) is essentially a holding company and investment company focusing on earning income through dividends, interest and gains on investments held. As a holding company, BHIL holds strategic stake of 31.49% in Bajaj Auto, 39.29% stake in Bajaj Finserv and 24% stake in Maharashtra Scooters.

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Maruti Suzuki gains after announcing plans to increase number of NEXA outlets
Jul 28,2016

The announcement was made during market hours today, 28 July 2016.

Meanwhile, the S&P BSE Sensex was up 101.90 points or 0.36% at 28,123.81.

On BSE, so far 39,324 shares were traded in the counter, compared with an average volume of 74,308 shares in the past one quarter. The stock hit a high of Rs 4,699 and a low of Rs 4,570 so far during the day. The stock hit a record high of Rs 4,789 on 23 November 2015. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 27 July 2016, rising 13.1% compared with 6.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.04% as against Sensexs 7.52% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki India (MSIL) said that NEXA is expected to contribute 15% of Marutis sales by 2020. MSIL said that NEXA, the new automotive sales channel of the company has completed one year of operations. Launched in July 2015, NEXA has enabled MSIL to attract new categories of customers to its fold. NEXA has rapidly grown to 150 showrooms across 94 cities. Over 1 lakh cars have been sold through NEXA. This is about 10% of MSILs total domestic sales, the company said. At present, the cars sold through NEXA are premium cross-over, S-Cross and premium hatchback, Baleno.

Maruti Suzuki Indias net profit rose 23% to Rs 1486.20 crore on 12.1% rise in net sales to Rs 14654.50 crore in Q1 June 2016 over Q1 June 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 30 June 2016).

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Logistics stocks in demand on reports Cabinet clears amendments to GST constitutional amendment bill
Jul 28,2016

Snowman Logistics was up 4.2% at Rs 88.15. Gati was up 3.1% at Rs 176.50. Allcargo Logistics was up 5.4% at Rs 200.90. Aegis Logistics was up 0.8% at Rs 123.85. VRL Logistics was up 2.7% at Rs 357.20. Transport Corporation of India was up 4.1% at Rs 363.80. Gateway Distriparks was up 1.3% at Rs 273.90. Container Corporation of India was up 0.3% at Rs 1,471. Blue Dart Express was up 0.5% at Rs 5,955. Sical Logistics was up 2.4% at Rs 159.35.

Meanwhile, the S&P BSE Sensex was currently up 100.77 points or 0.36% at 28,125.10

According to media reports, the Union Cabinet yesterday, 27 July 2016, approved amendments to the constitutional amendment bill on Goods and Services Tax (GST). The government has reportedly accepted a key demand of Congress to remove a 1% tax on inter-state transactions in the GST regime. The government has also agreed the demand of the state governments of full compensation for revenue loss for five years. The original GST bill provided for a graded compensation of 100% for the first three years, then 75% and 50% for the next two years, respectively.

The GST bill is likely to be moved in the Rajya Sabha next week. The Rajya Sabha has already allotted five hours for discussion on the GST bill, according to media reports. The GST bill, which has been approved by the Lok Sabha is pending in the Rajya Sabha due to Opposition resistance. The BJP led National Democratic Alliance (NDA) government at the centre has a comfortable majority in the LoK Sabha. However, the coalition does not enjoy a majority in the Rajya Sabha. A constitutional amendment bill requires at least 50% attendance and support of two-third of those present and voting in the house. For the GST bill to become a law, the bill also needs to be approved by half the state assemblies after its passage in the parliament.

GST, touted as the single biggest indirect taxation reforms since independence, will simplify and harmonise the indirect tax regime in the country. The GST seeks to create a seamless national market in the country by replacing plethora of state taxes and central taxes by one tax. The month-long monsoon session of the parliament will conclude on 12 August 2016.

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Hero MotoCorp gains after promoters decide to realign their businesses
Jul 28,2016

The announcement was made during market hours today, 28 July 2016.

Meanwhile, the S&P BSE Sensex was up 103.18 points or 0.37% at 28,127.51.

On BSE, so far 18,282 shares were traded in the counter, compared with an average volume of 24,085 shares in the past one quarter. The stock hit a high of Rs 3,229.45 and a low of Rs 3,150 so far during the day. The stock hit a record high of Rs 3,306.10 on 21 July 2016. The stock hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had underperformed the market over the past one month till 27 July 2016, rising 4.87% compared with 6.14% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 8.63% as against Sensexs 7.52% rise.

The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp (HMCL) announced that keeping with the core values of the Hero Group as established by the late Dr. Brijmohan Lall Munjal, the companys promoter members of the BML Munjal family have decided to realign their businesses to achieve future growth and expansion. With the blessings of Santosh Munjal, the matriarch of the Munjal family, Sunil Kant Munjal, Joint Managing Director, HMCL and Chairman, Hero Corporate Service, intends to focus his time and energy on his independent and core businesses, and to pursue new business interests, HMCL said. He has, therefore, expressed his desire to step down from the Board of Directors of HMCL once his tenure as the Joint Managing Director of the company comes to an end on 16 August 2016, HMCL said. This realignment will not impact the overall promoter shareholding, strategic direction or operational management of the company, HMCL said. On this occasion, Pawan Munjal, Chairman, Managing Director & Chief Executive Officer of HMCL, and the senior leadership team at HMCL reiterated their commitment to continue to build the company into a truly world class enterprise in all respects.

As per the shareholding pattern, promoters hold 34.64% stake in the company as on 30 June 2016.

Hero MotoCorps net profit rose 70.9% to Rs 814.16 crore on 10.3% increase in net sales to Rs 7385.23 crore in Q4 March 2016 over Q4 March 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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BEL, BEML move higher as Govt abolishes guidelines for JVs by defence PSUs
Jul 28,2016

Meanwhile, the S&P BSE Sensex was currently up 89.74 points or 0.32% at 28,114.07.

The abolition of the existing guidelines for establishing joint venture companies by defence public sector undertakings (PSUs) will provide a level playing field between defence sector PSUs and the private sector. It will allow defence sector PSUs to forge partnerships in an innovative manner, enhancing self-reliance in defence and provide for enhanced accountability/autonomy of defence PSUs in ensuring that the process of formation of a joint venture is effectively managed by them so as to secure best outcomes in the interest of national security.

The government said in a statement that the decision was made in the context of the increasing participation of the private industry in defence sector and the transformation taking place in the defence acquisition eco system in the country. The Department of Defence Production came to the conclusion that with the increasing participation of the private industry in defence sector and the transformation taking place in the defence acquisition eco system, the requirement of having separate guidelines for establishing joint venture companies by defence PSUs is no longer considered necessary.

Bharat Electronics (BEL) makes equipment for the defence sector. The Government of India currently holds 75.02% stake in the company (as per the shareholding pattern as on 30 June 2016).

BEML serves core sectors like defence, rail, power, mining and infrastructure. The Government of India currently holds 54.03% stake in the company (as per the shareholding pattern as on 30 June 2016).

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