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Hero MotoCorp gains after decent Q1 results
Aug 08,2016

The announcement was made during trading hours today, 8 August 2016.

Meanwhile, the BSE Sensex was up 78.70 points, or 0.28%, to 28,157.05.

On BSE, so far 56,000 shares were traded in the counter, compared with average daily volume of 25,020 shares in the past one quarter. The stock hit a high of Rs 3,525 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 3,410 so far during the day. The stock hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 10.74% compared with 3.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.04% as against Sensexs 11.30% rise.

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

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

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Aurobindo Pharma inches up after USFDA nod for a drug
Aug 08,2016

The announcement was made during market hours today, 8 August 2016.

Meanwhile, the S&P BSE Sensex was up 82.63 points or 0.29% at 28,160.98.

On BSE, so far 1.14 lakh shares were traded in the counter as against average daily volume of 1.24 lakh shares in the past one quarter. The stock hit a high of Rs 781.90 and a low of Rs 768 so far during the day. The stock had hit a record high of Rs 891.50 on 30 December 2015. The stock had hit a 52-week low of Rs 582 on 25 February 2016. The stock had underperformed the market over the past one month till 5 August 2016, advancing 0.12% compared with 3.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.36% as against Sensexs 11.15% rise.

The large-cap company has equity capital of Rs 58.52 crore. Face value per share is Rs 1.

Aurobindo Pharma expects to launch the product in the current quarter (Q2 September 2016). The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Zyvox Injection, 600 mg/300 mL (2 mg/mL), of Pharmacia & Upjohn Company (Pharmacia). Linezolid Injection is an anti-infective used to treat infections caused by susceptible Gram-positivebacteria in some specific conditions. The approved product has an estimated market size of $87 million in the US for the twelve months ended June 2016 according to IMS.

On consolidated basis, Aurobindo Pharmas net profit rose 39.4% to Rs 562.85 crore on 16.9% growth in net sales to Rs 3674.70 crore in Q4 March 2016 over Q4 March 2015.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The companys manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The companys robust product portfolio is spread over 7 major therapeutic/product areas encompassing antibiotics, anti-retrovirals, CVS, CNS, gastroenterologicals, anti-allergies and anti-diabetics, supported by an outstanding R&D set-up. The company is marketing these products globally, in over 150 countries.

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Volumes jump at Bombay Burmah Trading Corporation counter
Aug 08,2016

Bombay Burmah Trading Corporation clocked volume of 2.11 lakh shares by 12:36 IST on BSE, a 29.76-times surge over two-week average daily volume of 7,000 shares. The stock rose 15.72% to Rs 468.60.

NTPC notched up volume of 50.74 lakh shares, a 17.91-fold surge over two-week average daily volume of 2.83 lakh shares. The stock fell 0.81% to Rs 160.

Indian Bank saw volume of 44.41 lakh shares, a 10.42-fold surge over two-week average daily volume of 4.26 lakh shares. The stock fell 0.67% to Rs 199.40.

Britannia Industries clocked volume of 1.12 lakh shares, a 9.68-fold surge over two-week average daily volume of 12,000 shares. The stock rose 7.81% to Rs 3,106.60 after consolidated net profit rose 13.15% to Rs 219.13 on 9.73% increase in total income to Rs 2236.05 crore in Q1 June 2016 over Q1 June 2015. The result was announced during trading hours today, 8 August 2016.

Zensar Technologies saw volume of 2.02 lakh shares, a 8.45-fold rise over two-week average daily volume of 24,000 shares. The stock rose 0.21% to Rs 1,106.

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HDFC, Max Financial Services nudge higher
Aug 08,2016

HDFC (up 1.05% at Rs 1,354.50) and Max Financial Services (up 0.91% at Rs 556) edged higher.

Meanwhile, the S&P BSE Sensex was up 83.66 points or 0.3% at 28,162.01.

Max Financial Services (MFSL) in its board meeting scheduled today, 8 August 2016, for the purpose of announcing Q1 June 2016 results, will also consider the proposed scheme of arrangement amongst the company, Max Life Insurance Company (MLIC) and HDFC Life Insurance Company (HDFC Life) and consequently, including Max India (formerly Taurus Ventures) as a party to such scheme for certain commercial reasons.

It may be recalled that MFSLs board in its meeting held on 17 June 2016, approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential combination through a merger of MLIC and MFSL into HDFC Life by way of a scheme of arrangement.

HDFC Life is a partnership between HDFC, Indias leading housing finance institution and Standard Life, a global long term investment savings player. Currently HDFC holds 62% and Standard Life (Mauritius Holdings) 2006 holds 35% of equity in HDFC Life, while the rest is held by others.

MLIC is a joint venture between MFSL and Mitsui Sumitomo Insurance (MSI), a Japan headquartered global leader in insurance. MFSL holds 68% equity in MLIC, while MSI holds 26%.

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Britannia Industries spurts after good Q1 earnings
Aug 08,2016

The result was announced during trading hours today, 8 August 2016.

Meanwhile, the BSE Sensex was up 59.97 points, or 0.21%, to 28,138.32.

On BSE, so far 93,000 shares were traded in the counter, compared with average daily volume of 21,293 shares in the past one quarter. The stock hit a high of Rs 3,103.80 and a low of Rs 2,885.10 so far during the day. The stock hit a record high of Rs 3,435 on 13 August 2015. The stock hit a 52-week low of Rs 2,506.65 on 12 February 2016. The stock had underperformed the market over the past 30 days till 5 August 2016, rising 2.48% compared with 3.22% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.39% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 24 crore. Face value per share is Rs 2.

Britannia Industries said in a press release that consolidated profit from operations rose 11% to Rs 288 crore and net profit rose 13% to Rs 219 crore in Q1 June 2016 over Q1 June 2015. Consolidated revenue grew 8% for at Rs 2162 crore in Q1 June 2016 over Q1 June 2015.

Commenting on the performance, Varun Berry, managing director, said that the category growths remained subdued during the quarter, however a good monsoon and impact of 7th pay commission would aid consumption and boost demand going forward. The deteriorating geopolitical situation and currency fluctuations in certain geographies like Middle East and Africa have also impacted the companys growths. The firm launched some delightful products like Good day Nuts cookies, NutriChoice Oat cookies & Biscotti during the quarter which bolstered growth. The company intends to drive consumer off take & strengthen its momentum through re-stage of its brands and plugging its product portfolio gaps going forward. Commodity prices have firmed up significantly over the last two quarters and the firm has initiated a combination of price increase & cost efficiency measures to address this. With a strengthened back end in terms of technologically superior factories and state-of-the-art R&D centre, the company is confident of delivering new products for consumers, he added.

Britannia Industries makes biscuits, bread, rusk, cakes and dairy products like cheese, butter and milk.

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Hindalco hits 52-week high after strong Q1 earnings from Novelis
Aug 08,2016

Meanwhile, the S&P BSE Sensex was up 99.70 points or 0.36% at 28,178.05.

On BSE, so far 10.92 lakh shares were traded in the counter as against average daily volume of 14.12 lakh shares in the past one quarter. The stock hit a high of Rs 151.90 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 145.70 so far during the day. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock had outperformed the market over the past one month till 5 August 2016, advancing 16.34% compared with 3.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 58.9% as against Sensexs 11.15% rise.

The large-cap company has equity capital of Rs 206.50 crore. Face value per share is Rs 1.

Novelis adjusted net profit rose 37.5% to $33 million in Q1 June 2016 over Q1 June 2015. Net sales declined 13% to $2.3 billion in Q1 June 2016 over Q1 June 2015, due to lower average aluminum prices and local market premiums, as well as lower total shipments, which was partially offset by increased shipments of higher conversion premium products.

Novelis adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 26% to $268 million in Q1 June 2016 over Q1 June 2015, driven by higher productivity and lower costs associated with the start-up of new automotive finishing and recycling capacity in the prior year.

Hindalco is scheduled to announce Q1 June 2016 results on Friday, 12 August 2016. Net profit jumped 123.4% to Rs 356.33 crore on 7.3% decline in net sales to Rs 8542.66 crore in Q4 March 2016 over Q4 March 2015.

A part of the Aditya Birla Group, Hindalco Industries is the worlds largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.

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Wockhardt slumps on reports of brokerage downgrade
Aug 08,2016

Meanwhile, the BSE Sensex was up 94.99 points, or 0.34%, to 28,173.34.

On BSE, so far 4.47 lakh shares were traded in the counter, compared with average daily volume of 1.79 lakh shares in the past one quarter. The stock hit a high of Rs 960 and a low of Rs 870 so far during the day. The stock hit a 52-week high of Rs 1,748.20 on 2 December 2015. The stock hit a 52-week low of Rs 706.35 on 12 February 2016. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 8.13% compared with 3.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.43% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 55.27 crore. Face value per share is Rs 5.

The downgrade was followed by media reports suggesting that Wockhardts Ankleshwar plant received an import alert from the US Food and Drugs Administration (USFDA) for alleged violation of good manufacturing practices.

According to reports, the foreign brokerage said that the Ankleshwar facility receiving under import alert may lead to Wockhardts multiples falling under pressure in the near term. However, the brokerage reportedly remains bullish on the stock for long term.

Reports sugested that the USFDA had carried out an inspection at the Ankleshwar plant in November last year and issued adverse observations known as Form 483 for violating good manufacturing practices. The Ankleshwar plant makes both formulations and active pharmaceutical ingredients and largely caters to domestic and European markets. However, it exports some formulations and active pharmaceutical ingredients (APIs) to Wockhardts US plant.

On a consolidated basis, net profit of Wockhardt rose 25.88% to Rs 42.90 crore on 6.10% decline in net sales to Rs 1013.36 crore in Q4 March 2016 over Q4 March 2015. The company will announce Q1 results on 13 August 2016.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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Union Bank of India tumbles after weak Q1 numbers
Aug 08,2016

The result was announced on Saturday, 6 August 2016.

Meanwhile, the S&P BSE Sensex was up 92.17 points or 0.33% at 28,170.52.

On BSE, so far 10.17 lakh shares were traded in the counter as against average daily volume of 6.88 lakh shares in the past one quarter. The stock hit a high of Rs 133.65 and a low of Rs 127.20 so far during the day. The stock had hit a 52-week low of Rs 104.05 on 29 February 2016. The stock had hit a 52-week high of Rs 222.45 on 18 August 2015. The stock had underperformed the market over the past one month till 5 August 2016, advancing 1.89% compared with 3.36% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 17.42% as against Sensexs 11.15% rise.

The mid-cap bank has equity capital of Rs 687.44 crore. Face value per share is Rs 10.

Union Bank of Indias domestic net interest margin (NIM) stood at 2.36% in Q1 June 2016 compared with 2.46% in Q1 June 2015. Global NIM stood at 2.28% in Q1 June 2016 as against 2.39% in Q1 June 2015.

The banks average current and savings account (CASA) ratio improved to 29.5% in Q1 June 2016 from 27% in Q1 June 2015 and 29.2% in Q4 March 2016.

Union Bank of Indias gross non-performing assets (NPA) stood at Rs 27280.90 crore as on 30 June 2016 compared with Rs 24170.89 crore as on 31 March 2016 and Rs 14143.62 crore as on 30 June 2015. The ratio of gross NPA to gross advances stood at 10.16% as on 30 June 2016 as against 8.7% as on 31 March 2016 and 5.53% as on 30 June 2015. The ratio of net NPA to net advances stood at 6.16% as on 30 June 2016 compared with 5.25% as on 31 March 2016 and 3.08% as on 30 June 2015.

The banks provisions and contingencies jumped 110.6% to Rs 1352.96 crore in Q1 June 2016 over Q1 June 2015.

Provision coverage ratio stood at 50% as on 30 June 2016 as against 51% as on 31 March 2016 and 58% as on 30 June 2015.

Union Bank of India is one of largest state-owned banks in India. The Government of India (GoI) held 63.44% in Union Bank of India (as per the shareholding pattern as on 30 June 2016).

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HPCL gains after RBI nod for hike in foreign investment limit
Aug 08,2016

Meanwhile, the BSE Sensex was up 79.36 points, or 0.28%, to 28,157.71.

On BSE, so far 69,000 shares were traded in the counter, compared with average daily volume of 1.45 lakh shares in the past one quarter. The stock hit a high of Rs 1,298.90 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,270.90 so far during the day. The stock hit a 52-week low of Rs 636 on 25 February 2016. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 21.71% compared with 3.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 49.52% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 338.63 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) notified on Friday, 5 August 2016, that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) from default can now invest from existing 24% up to 40% of the paid up capital of HPCL under the Portfolio Investment Scheme (PIS). RBI stated that the company has passed resolution at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

HPCLs net profit drops 28.2% to Rs 1552.94 crore on 5.4% drop in net sales to Rs 42125.96 crore in Q4 March 2016 over Q4 March 2015. The company will announce Q1 results on 22 August 2016.

HPCL is a public sector oil marketing company. The Government of India held 51.11% stake in HPCL as per the shareholding pattern as on 30 June 2016.

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Caplin Point Laboratories gains after good Q1 results
Aug 08,2016

The result was announced after market hours on Friday, 5 August 2016.

Meanwhile, the BSE Sensex was up 114.12 points, or 0.41%, to 28,192.47.

On BSE, so far 3,874 shares were traded in the counter, compared with average daily volume of 3,314 shares in the past one quarter. The stock hit a high of Rs 1,270 and a low of Rs 1,220 so far during the day. The stock hit a record high of Rs 1,639 on 3 September 2015. The stock hit a 52-week low of Rs 835.25 on 12 February 2016. The stock had outperformed the market over the past 30 days till 5 August 2016, rising 13.82% compared with 3.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 27.31% as against Sensexs 11.30% rise.

The small-cap company has an equity capital of Rs 15.11 crore. Face value per share is Rs 10.

On a consolidated basis, Caplin Point Laboratories earnings before interest, taxes, depreciation and amortization (EBITDA) rose 21% to Rs 23.83 crore in Q1 June 2016 over Q1 June 2015.

EBITDA margin were reported at 28% in Q1 June 2016, in line with 28% reported in Q1 June 2015.

Meanwhile, the companys board of directors approved for 5-for-1 stock split proposal.

Caplin Point Laboratories is a pharmaceutical company, catering predominantly to emerging markets of Latin America and Africa.

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CARE jumps after strong Q1 earnings
Aug 08,2016

Meanwhile, the S&P BSE Sensex was up 123.99 points or 0.44% at 28,202.34.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 7,432 shares in the past one quarter. The stock hit a high of Rs 1,149 and a low of Rs 1,069 so far during the day. The stock had hit a 52-week high of Rs 1,473 on 7 August 2015. The stock had hit a 52-week low of Rs 885 on 26 February 2016. The stock had outperformed the market over the past one month till 5 August 2016, advancing 7.38% compared with 3.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 7.16% as against Sensexs 11.15% rise.

The mid-cap company has equity capital of Rs 29.40 crore. Face value per share is Rs 10.

The companys EBITDA (earnings before interest, taxation, depreciation and amortization) margin jumped to 63.3% in Q1 June 2016 from 52.7% in Q1 June 2015. The result was announced after market hours on Friday, 5 August 2016.

CAREs MD & CEO D R Dogra said that the company has posted fairly good results in Q1 June 2016. The future course of the economy will guide the progress in the market which will have a bearing on the companys prospects, he said.

CAREs board of directors have appointed Rajesh Mokashi, Deputy Managing Director of the company as the Managing Director and CEO of the company with effect from 22 August 2016 for a period of five years subject to the approval of the shareholders at the ensuing Annual General Meeting.

The board has given its approval for setting up a wholly owned subsidiary company for carrying out advisory, research and training services subject to regulatory approvals.

CARE is a credit rating agency in India. CARE provides the entire spectrum of credit rating that helps the corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own risk-return expectations.

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Tata Coffee spurts after robust Q1 results
Aug 08,2016

The result was announced on Saturday, 6 August 2016.

Meanwhile, the BSE Sensex was up 118.49 points, or 0.42%, to 28,196.84.

On BSE, so far 5.73 lakh shares were traded in the counter, compared with average daily volume of 2.58 lakh shares in the past one quarter. The stock hit a high of Rs 131.50 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 124.15 so far during the day. The stock hit a 52-week low of Rs 81.70 on 17 February 2016. The stock had underperformed the market over the past 30 days till 5 August 2016, rising 0.22% compared with 3.22% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 28.25% as against Sensexs 11.30% rise.

The small-cap company has an equity capital of Rs 18.68 crore. Face value per share is Re 1.

Tata Coffee is the largest integrated coffee plantation company in the world. The company grows coffee on its own estates, processes the beans, exports green coffee, manufactures and exports Instant Coffee and retails coffee with its own branding in the domestic market.

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Glenmark Pharma gains after receiving USFDA approval for Kenalog generic
Aug 08,2016

The announcement was made before trading hours today, 8 August 2016.

Meanwhile, the BSE Sensex was up 135.86 points, or 0.48%, to 28,214.21.

On BSE, so far 1,993 shares were traded in the counter, compared with average daily volume of 40,431 shares in the past one quarter. The stock hit a high of Rs 852.30 and a low of Rs 846.30 so far during the day. The stock hit a record high of Rs 1,261.95 on 21 August 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had underperformed the market over the past 30 days till 5 August 2016, rising 2.80% compared with 3.22% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.90% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals said that its US-based subsidiary, Glenmark Pharmaceuticals Inc., USA, has been granted final approval by the United States Food & Drug Administration (USFDA) for Triamcinolone Acetonide cream USP, 0.1%, the generic version of Kenalog cream, 0.1% of Delcor Asset Corporation (Which is no longer being marketed in the US).

Triamcinolone acetonide cream is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.

According to IMS Health sales data for the 12-month period ending June 2016, the Kenalog Cream, 0.1% market achieved annual sales of approximately $43.6 million in the US market.

Glenmark said that its current portfolio consists of 108 products authorized for distribution in the US marketplace and 61 Abbreviated New Drug Application (ANDA) pending approval With the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth ofits existing pipeline and portfolio.

On a consolidated basis, Glenmark Pharmaceuticals net profit rose 1516.31% to Rs 171.49 crore on 23.96% rise in net sales to Rs 2174.02 crore in Q4 March 2016 over Q4 March 2015.The company will declare Q1 results on 12 August 2016.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization. Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). Glenmark has several molecules in various stages of clinical development and is primarily-focused in the areas of inflammation (asthma/COPD, rheumatoid arthritis etc.) and pain (neuropathic pain and inflammatory pain).

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Bharat Electronics declines after announcing weak Q1 results
Aug 08,2016

The result was announced after market hours on Friday, 5 August 2016.

Meanwhile, the S&P BSE Sensex was up 134.55 points or 0.48% at 28,212.90.

On BSE, so far 5,508 shares were traded in the counter as against average daily volume of 32,997 shares in the past one quarter. The stock hit a high of Rs 1,260 and a low of Rs 1,226.50 so far during the day. The stock had hit a 52-week low of Rs 984.36 on 25 August 2015. The stock had hit a record high of Rs 1,416.70 on 4 January 2016.

The large-cap company has equity capital of Rs 240 crore. Face value per share is Rs 10.

Bharat Electronics board approved the proposal for buyback of equity shares of the company for a total consideration not exceeding Rs 2171.15 crore at a buyback price of Rs 1,305 per share through a tender offer. The promoters of the company intimated their interest to participate in the proposed buyback.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India currently holds 75.02% stake in Bharat Electronics (as per the shareholding pattern as on 30 June 2016).

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Kotak Mahindra Bank advances after bulk deals
Aug 05,2016

Meanwhile, the S&P BSE Sensex was up 382.19 points or 1.38% at 28,096.56

A bulk deal of 1.85 lakh shares was executed on the Kotak Mahindra Bank scrip at Rs 759.35 per share at 09:50 IST on BSE. Another bulk deal of 3.50 lakh shares was executed on the scrip at Rs 759 per share at 10:55 IST on BSE. One more bulk deal of 5.02 lakh shares was executed on the scrip at Rs 766.50 per share at 12:34 IST.

Bulk deals boosted volume on the scrip. On BSE, so far 14.42 lakh shares were traded in the counter as against average daily volume of 1.61 lakh shares in the past one quarter. The stock hit a high of Rs 774.80 and a low of Rs 756.40 so far during the day. The stock had hit a record high of Rs 790 on 21 July 2016. The stock had hit a 52-week low of Rs 586.50 on 29 February 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 1.58% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, gaining 6.26% as against Sensexs 8.02% rise.

The large-cap bank has equity capital of Rs 918 crore. Face value per share is Rs 5.

Kotak Mahindra Bank net profit rose 291% to Rs 741.97 crore on 11.7% growth in total income to Rs 5120.03 crore in Q1 June 2016 over Q1 June 2015.

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

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