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GVK Power gallops after huge bulk deal
Oct 17,2016

Meanwhile, the S&P BSE Sensex was down 115.84 points, or 0.42%, to 27,557.76

Bulk deal boosted volume on the scrip. On BSE, so far 6.09 crore shares were traded in the counter, compared with average daily volume of 8.12 lakh shares in the past one quarter. The stock hit a high of Rs 7.48 and a low of Rs 6.27 so far during the day. The stock hit a 52-week high of Rs 9.77 on 24 November 2015. The stock hit a 52-week low of Rs 4.13 on 6 June 2016. The stock had underperformed the market over the past 30 days till 14 October 2016, falling 5.42% compared with Sensexs 2.6% fall. The scrip also underperformed the market in past one quarter, sliding 9.77% as against Sensexs 0.59% decline.

The small-cap company has an equity capital of Rs 157.92 crore. Face value per share is Re 1.

GVK Power & Infrastructure reported net loss of Rs 51.04 crore in Q1 June 2016, higher than net loss of Rs 3.09 crore in Q1 June 2015. Total income rose 6.11% to Rs 16.85 crore in Q1 June 2016 over Q1 June 2015.

GVK Power & Infrastructure is a leading Indian conglomerate with presence across energy, resources, airports, transportation, hospitality and life sciences sectors.

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MEP Infrastructure Developers gains after subsidiaries achieve financial closure for project
Oct 17,2016

The announcement was made at the onset of the trading session today, 17 October 2016.

Meanwhile, the BSE Sensex was down 107.83 points, or 0.39%, to 27,565.77.

On BSE, so far 22,854 shares were traded in the counter, compared with average daily volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 44.10 and a low of Rs 42 so far during the day. The stock hit a 52-week high of Rs 59.70 on 21 October 2015. The stock hit a record low of Rs 34.20 on 12 February 2016. The stock had outperformed the market over the past one month till 14 October 2016, falling 1.26% compared with Sensexs 2.46% fall. The scrip had, however, underperformed the market in past one quarter, dropping 7.43% as against Sensexs 0.96% decline.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that MEP Nagpur Ring Road 1 Private Limited, a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with National Highways Authority of India (NHAI) dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package I in Maharashtra on build, operate, transfer (BOT) (Hybrid Annuity) basis, by tying up of project finance of Rs 238.95 crore.

The bid project cost is Rs 531 crore out of which project finance will contribute Rs 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the company.

The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation sate (COD).

Separately, MEP Infrastructure Developers announced that MEP Sanjose Nagpur Ring Road 2 Private Limited a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with NHAI dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package II in Maharashtra on BOT (Hybrid Annuity) basis, by tying up of project finance of Rs 287.55 crore.

The bid project cost is Rs 639 crore out of which Project finance will contribute Rs 287.55 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation date (COD).

MEP Infrastructure Developers consolidated net profit jumped 1470.2% to Rs 35.80 crore on 1.6% drop in net sales to Rs 457.28 crore in Q1 June 2016 over Q1 June 2015.

MEP Infrastructure Developers is among the leading players in tolling operations in the road infrastructure sector.

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Granules India gains as USFDA completes inspection at Gagillapur facility
Oct 17,2016

The announcement was made before market hours today, 17 October 2016.

Meanwhile, the S&P BSE Sensex was down 124.25 points or 0.45% at 27,549.61

On BSE, so far 3.79 lakh shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past one quarter. The stock hit a high of Rs 125.60 and a low of Rs 121.10 so far during the day. The stock had hit a record high of Rs 164.45 on 1 December 2015. The stock had hit a 52-week low of Rs 101.25 on 12 February 2016. The stock had outperformed the market over the past 30 days till 14 October 2016, rising 2.26% compared with Sensexs 2.6% fall. The scrip, however, underperformed the market in past one quarter, sliding 17.89% as against Sensexs 0.59% decline.

The small-cap company has equity capital of Rs 21.72 crore. Face value per share is Rs 1.

Granules India said that the companys Gagillapur facility, Hyderabad, has successfully completed U S Food and Drug Administration (USFDA) inspection without any observations. This facility manufactures finished dosages (FDs) and pharmaceutical formulation intermediates (PFIs).

On a consolidated basis, Granules Indias net profit rose 36.51% to Rs 38.96 crore on 6.56% growth in net sales to Rs 343.50 crore in Q1 June 2016 over Q1 June 2015.

Granules India produces finished dosages, pharmaceutical formulation intermediates and active pharmaceutical ingredients for customers in the regulated and semi-regulated markets.

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Balaji Amines gains as board to consider amalgamation of subsidiaries
Oct 17,2016

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P BSE Sensex was down 26.15 points or 0.09% at 27,647.45

On BSE, so far 2,941 shares were traded in the counter as against average daily volume of 8,791 shares in the past one quarter. The stock hit a high of Rs 314.95 and a low of Rs 311.05 so far during the day. The stock had hit a record high of Rs 329 on 19 September 2016. The stock had hit a 52-week low of Rs 115 on 12 December 2016. The stock had outperformed the market over the past 30 days till 14 October 2016, rising 6.94% compared with Sensexs 2.6% fall. The scrip had also outperformed the market in past one quarter, gaining 18.59% as against Sensexs 0.59% decline.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines net profit surged 105.46% to Rs 26.34 crore on 4.73% growth in total income to Rs 167.90 crore in Q1 June 2016 over Q1 June 2015.

Balaji Amines manufactures methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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ICICI Bank surges after Essar Oil-Rosneft Deal
Oct 17,2016

Meanwhile, the BSE Sensex was up 38.47 points, or 0.14%, to 27,708.34.

High volumes were witnessed on the counter. On BSE, so far 23.5 lakh shares were traded in the counter, compared with average daily volume of 14.06 lakh shares in the past one quarter. The stock hit a high of Rs 258.95 and a low of Rs 244 so far during the day. The stock hit a 52-week high of Rs 292.65 on 16 October 2015. The stock hit a 52-week low of Rs 180.80 on 26 February 2016. The stock had underperformed the market over the past one month till 14 October 2016, falling 10.95% compared with Sensexs 2.46% fall. The scrip had also underperformed the market in past one quarter, dropping 9.84% as against Sensexs 0.96% decline.

The large-cap private sector bank has equity capital of Rs 1163.77 crore. Face value per share is Rs 2.

ICICI Bank is amongst the major lenders to Essar Group. As per reports, such a large deleveraging would be positive for Essar Group lenders. Exposure to Essar Group expressed as a per cent of respective banks loan book is highest for ICICI Bank, Axis Bank, Punjab National Bank and State Bank of India, as per reports.

Rosneft bought a 49% stake in Essar Oils refinery, port and petrol pumps, while Netherlands-based Trafigura Group Pte, one of the worlds biggest commodity trading companies, and Russian investment fund United Capital Partners split another 49% equity equally. The remaining 2% will be held by minority shareholders of Essar Oil.

The deal has an enterprise value of close to $12.9 billion -$10.9 billion being for a 20 million tons a year refinery in Gujarat and over 2,700 petrol pumps and another $2 billion for Vadinar port in Gujarat. The deal factors in Essar Oils debt of about $4.5 billion and about $2 billion debt with the port company. Also, the near $3 billion dues to Iran for past oil purchases will continue to be on Essar Oil books. Trafigura, which has been funded by Russian bank, may sell its stake to Rosneft at a later date. The deal was signed on the sidelines of BRICS Summit held in Goa over the last weekend.

ICICI Banks MD & CEO, Chanda Kochhar, reportedly quoted by media as saying that this deal is also a significant step in the process of deleveraging the balance sheets of Indian corporates. ICICI Bank has been closely working with various companies including the Essar group to help them deleverage their stressed balance sheets. The company will continue working towards this objective with others, she reportedly added.

Separately, ICICI Bank announced after market hours on Friday, 14 October 2016 that the board of directors of the bank at its meeting held 14 October 2016, approved the appointment of Anup Bagchi, presently Managing Director & CEO, ICICI Securities, as Executive Director of ICICI Bank subject to regulatory approvals for a period of five years effective 1 February 2017 or the date of approval of his appointment by the Reserve Bank of India (RBI), whichever is later. Anup Bagchi has been with the ICICI Group since 1992 and has worked in the areas of retail banking, corporate banking and treasury. During his tenure at ICICI Securities, he has led the growth and development of the retail broking, retail financial product distribution and wealth management businesses, ICICI Bank said. Bagchi is not related to any other director of the bank, it added.

The board also took on record, the resignation of Rajiv Sabharwal, Executive Director consequent to his decision to pursue opportunities outside the ICICI Group, effective 31 January 2017. The board also took note of other incidental changes to the senior management positions across the ICICI Group.

ICICI Banks net profit fell 25% to Rs 2232.35 crore on 6.1% increase in operating income to Rs 16759.51 crore in Q1 June 2016 over Q1 June 2015.

ICICI Bank is one of the leading private sector banks in India.

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Auto stocks decline after hike in fuel prices
Oct 17,2016

Meanwhile, the BSE Sensex was up 46.03 points, or 0.17%, to 27,719.63.

Tata Motors (down 0.58%), Maruti Suzuki India (down 0.11%), Eicher Motors (down 1.51%), Hero MotoCorp (down 0.16%), Bajaj Auto (down 0.74%) and TVS Motor Company (down 0.12%) declined. Ashok Leyland rose 0.31%.

Mahindra & Mahindra (M&M) declined 1.12%. M&M announced on 15 October 2016 regarding the transfer of Franchisee Division of Mahindra Retail, a subsidiary of the company on a slump sale basis to BrainBees Solutions. The total lump sum consideration for the transfer of Franchisee Division on a slump sale basis is Rs 362.10 crore. The two largest retail players in the largely unorganised $12 billion baby and kids market in India, FirstCry.com (BrainBees Solutions) and Mahindra Retail (BabyOye), have consolidated their business activities to create a dominant presence in this segment. In terms of the structure of the transaction, Mahindra Retail and FirstCry have consolidated their operations, with Mahindra Retail selling its Franchise business to FirstCry, and operating all company stores under a FirstCry master franchisee agreement. FirstCry additionally raises $34 million of new equity capital from the Mahindra Group, Adveq (a large private equity fund), Kris Gopalakrishnan and participation from all existing shareholders.

PSU OMCs increased petrol and diesel prices with effect from midnight 15 October 2016/16 October 2016. PSU OMCs announced increase in selling price of petrol by Rs 1.34per litre (excluding state levies) and increase in selling price of diesel by Rs 2.37per litre (excluding state levies).

Hike in fuel prices have negative impact on customers buying decision of vehicles.

The BSE Auto index had outperformed the market over the past one month till 14 October 2016, rising 0.8% compared with Sensexs 2.46% fall. The index had also outperformed the market in past one quarter, gaining 11.5% as against Sensexs 0.96% decline.

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DCB Bank gains after reporting good Q2 result
Oct 17,2016

The result was announced after market hours on Friday, 14 October 2016.

Meanwhile, the BSE Sensex was up 40.11 points, or 0.14%, to 27,713.71.

On BSE, so far 2.09 lakh shares were traded in the counter, compared with an average volume of 2.43 lakh shares in the past one quarter. The stock hit a high of Rs 126.50 and a low of Rs 122.85 so far during the day. The stock hit a 52-week high of Rs 129 on 5 October 2016. The stock hit a 52-week low of Rs 68.50 on 21 January 2016. The stock had outperformed the market over the past one month till 14 October 2016, rising 0.49% compared with Sensexs 2.46% fall. The scrip had also outperformed the market in past one quarter, gaining 16.3% as against Sensexs 0.96% decline.

The mid-cap bank has an equity capital of Rs 284.73 crore. Face value per share is Rs 10.

DCB Banks gross non-performing assets (NPAs) stood at Rs 255.40 crore as on 30 September 2016 as against Rs 231.26 crore as on 30 June 2016 and Rs 224.33 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 1.75% as on 30 September 2016 as against 1.72% as on 30 June 2016 and 1.99% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.84% as on 30 September 2016 as against 0.87% as on 30 June 2016 and 1.16% as on 30 September 2015. The banks provisions and contingencies (excluding tax provisions) rose 22.19% to Rs 26.48 crore in Q2 September 2016 over Q2 September 2015.

Net interest margin rose to 3.96% in Q2 September 2016 from 3.79% in Q2 September 2015. Net interest income rose 27% to Rs 190 crore in Q2 September 2016 over Q2 September 2015.

DCB is a private sector bank.

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CRISIL slips after declaring muted Q3 result
Oct 17,2016

The result was announced after market hours on Friday, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 42.79 points, or 0.15%, to 27,716.39

On BSE, so far 270 shares were traded in the counter, compared with an average daily volume of 2,363 shares in the past one quarter. The stock hit a high of Rs 2,368 and a low of Rs 2,310.50 so far during the day. The stock hit a record high of Rs 2,490 on 5 October 2016. The stock hit a 52-week low of Rs 1,750 on 28 March 2016.

The large-cap company has an equity capital of Rs 7.13 crore. Face value per share is Re 1.

CRISIL said that profit and profitability of research segment was adversely impacted by forex fluctuations in Q3 September 2016.

CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services.

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Canara Bank gains on plans to raise capital
Oct 17,2016

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 40.32 points or 0.15% at 27,714.74.

On BSE, so far 74,834 shares were traded in the counter as against average daily volume of 4.32 lakh shares in the past one quarter. The stock hit a high of Rs 316.95 and a low of Rs 312.30 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock had outperformed the market over the past one month till 14 October 2016, rising 0.53% compared with Sensexs 2.46% fall. The scrip had also outperformed the market in past one quarter, surging 22.57% as against Sensexs 0.96% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

Canara Bank said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Canara Banks net profit fell 52.2% to Rs 228.95 crore on 3.8% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 30 June 2016.

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SBI gains as board approves divestment of stake in SBI Life
Oct 17,2016

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 13.53 points or 0.05% at 27,687.13

On BSE, so far 54,000 shares were traded in the counter as against average daily volume of 26.37 lakh shares in the past one quarter. The stock hit a high of Rs 254.50 and a low of Rs 253.45 so far during the day. The stock had hit a 52-week high of Rs 271.55 on 8 September 2016. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016.

The large-cap state-run bank has equity capital of Rs 776.28 crore. Face value per share is Rs 1.

State Bank of India (SBI) said that the Executive Committee of the Central Board (ECCB) at its meeting held on Friday, 14 October 2016 has approved to dilute upto 5% stake of SBI in SBI Life to a non-promoter entity.

SBIs net profit fell 31.7% to Rs 2520.96 crore on 9.4% rise in net sales to Rs 48928.60 crore in Q1 June 2016 over Q1 June 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 30 June 2016).

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Edelweiss declines after shareholders rejig via bulk deal
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 34.24 points or 0.12% at 27,677.35.

On BSE, so far 1 lakh shares were traded in the counter as against average daily volume of 5.27 lakh shares in the past one quarter. The stock hit a high of Rs 119.60 and a low of Rs 114.80 so far during the day. The stock had hit a 52-week high of Rs 126 on 3 October 2016. The stock had hit a 52-week low of Rs 44.40 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, surging 18.5% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 47.4% as against Sensexs 0.62% fall.

The mid-cap company has equity capital of Rs 82.84 crore. Face value per share is Rs 1.

Privatbank IHAG Zurich AG held 3.88% and BIH SA 1.71% stake in Edelweiss Financial Services as per the shareholding pattern as on 30 June 2016.

On a consolidated basis, Edelweiss Financial Services net profit rose 53% to Rs 139.68 crore on 27% growth in total income to Rs 1472.18 crore in Q1 June 2016 over Q1 June 2015.

Edelweiss Financial Services offers a range of products and services spanning retail finance, debt capital markets, commodities, financial markets, asset management and life insurance.

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Vardhman Special Steels spurts on plans of rights issue
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 27.05 points or 0.1% at 27,671.53.

On BSE, so far 2,531 shares were traded in the counter as against average daily volume of 3,054 shares in the past one quarter. The stock hit a high of Rs 88.35 and a low of Rs 79.50 so far during the day.

The small-cap company has equity capital of Rs 18.56 crore. Face value per share is Rs 10.

Vardhman Special Steels said that the board of directors will also consider companys Q2 results on that day.

Vardhman Special Steels is a producer of special and alloy steels, catering to diverse requirements of hot rolled bars for engineering, automotive, tractor, bearing and allied industries.

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HUL extends slide after Unilevers Q3 results disappoint investors
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 35.10 points or 0.13% at 27,685.16.

On BSE, so far 1.36 lakh shares were traded in the counter as against average daily volume of 1.25 lakh shares in the past one quarter. The stock hit a high of Rs 857.50 and a low of Rs 838.45 so far during the day. The stock had hit a 52-week high of Rs 954 on 9 September 2016. The stock had hit a 52-week low of Rs 765.35 on 27 January 2016. The stock had underperformed the market over the past one month till 13 October 2016, falling 6.14% compared with 2.51% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 6.85% as against Sensexs 0.62% drop.

The large-cap company has equity capital of Rs 216.43 crore. Face value per share is Rs 1.

Shares of Hindustan Unilever (HUL) had settled 1.61% lower at Rs 861.95 yesterday, 13 October 2016 after Unilever yesterday, 13 October 2016 posted an underlying sales growth of 3.2% in Q3 September 2016 over Q3 September 2015. Volumes declined 0.4% during this period. Sales increased by 3.4% at constant exchange rates while turnover, which is at current rates, declined 0.1% in Q3 September 2016 over Q3 September 2015. Consumer demand remained weak and in the markets in which Unilever operates volumes have slowed further and are flat in aggregate, the company said. This is particularly the case in Latin America where currency devaluation has pushed up the cost of living of its consumers, squeezing disposable incomes, it added.

Unilever holds 58.32% stake in Hindustan Unilever (HUL) as per the shareholding pattern as on 30 September 2016.

HULs net profit rose 9.8% to Rs 1173.90 crore on 3.6% growth in net sales to Rs 7987.74 crore in Q1 June 2016 over Q1 June 2015.

HUL is a leading fast moving consumer goods (FMCG) company.

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Large order boosts L&T
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 38.81 points or 0.14% at 27,681.92.

On BSE, so far 1.13 lakh shares were traded in the counter as against average daily volume of 1.56 lakh shares in the past one quarter. The stock hit a high of Rs 1,473.60 and a low of Rs 1,438.20 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, sliding 1.85% compared with 2.51% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 7.28% as against Sensexs 0.62% fall.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

The latest order has been secured by a consortium of L&T and Sojitz Corp, Japan.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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RCom gains after inking pact with Brookfield for sale of telecom tower business
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the BSE Sensex was up 38.68 points, or 0.14%, to 27,681.79.

On BSE, so far 18.77 lakh shares were traded in the counter, compared with an average volume of 27.14 lakh shares in the past one quarter. The stock hit a high of Rs 48.40 and a low of Rs 46.20 so far during the day. The stock hit a 52-week high of Rs 91.80 on 1 January 2016. The stock hit a record low of Rs 42.10 on 29 September 2016. The stock had underperformed the market over the past one month till 13 October 2016, falling 6.04% compared with 2.51% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 8.16% as against Sensexs 0.62% drop.

The large-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) announced the signing of a non-binding term sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RComs nationwide tower assets and related infrastructure by Brookfield.

RCom said that under the term sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business.

RCom will receive an upfront cash payment of Rs 11000 crore from the proposed transaction. RCom will also enjoy 49% future economic upside from the towers business, based on certain conditions. RCom and Brookfield expect considerable growth in tenancies based on increasing 4G offerings by all telecom operators, and the fast accelerating trends in data consumption, which are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

RCom and Brookfield also see several opportunities for consolidation in the towers industry in India that will further enhance growth and value creation in the future. RCom intends to utilize the proceeds of the proposed transaction solely to reduce its debt. The proposed Transaction is subject to definitive documentation, customary approvals and certain other terms and conditions. Accordingly, there can be no certainty that a transaction will result. Further announcements will be made at an appropriate stage, RCom added.

RComs consolidated net profit rose 5.9% to Rs 54 crore on 3.8% decline in net sales to Rs 5247 crore in Q1 June 2016 over Q1 June 2015.

RCom is an integrated telecommunications service provider.

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