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UltraTech Cement may gain after acquisition of cement units of Jaiprakash Associates
Feb 29,2016

UltraTech Cement and Jaiprakash Associates in separate announcments on Sunday, 28 February 2016 said that they have entered into a binding memorandum of understanding whereby UltraTech will acquire Jaiprakash Associates identified cement plants having total cement capacity of 22.4 million tonnes per annum (mtpa) (including a 4 mtpa plant under implementation at a cost of Rs 470 crore) situated in the states of Madhya Pradesh, Uttar Pradesh, Uttarakhand, Andhra Pradesh and Karnataka. The parties have agreed to an enterprise value of Rs 16500 crore. The assets will give the company access to the newer markets of Satna, UP East, Himachal Pradesh and Coastal Andhra where it does not have a presence as of now, UltraTech Cement said. Upon consummation of the proposed transaction, the companys cement capacity will stand augmented to 90.7 mtpa (currently 68.3 mtpa).

Separately, UltraTech Cement after market hours on Friday, 26 February 2016, announced withdrawal of scheme of arrangement between the company and JAL for the acquisition of JALs entire cement business situated at Bela and Siddhi in Madhya Pradesh as a going concern on slump sale basis. The Bombay High Court has indicated that based on the recent amendments in the provisions of the Mines and Minerals (Development & Regulation) Act, 1947 (MMDRA) preventing the transfer of mines granted other than through auction, and in the absence of any clear timelines for any amendment/clarification in the MMDRA, the Court cannot sanction the scheme, UltraTech said. Under the circumstances, it was decided to apply for withdrawal of the scheme filed before the High Court, which was permitted by the High Court at the hearing held on 25 February 2016, UltraTech said.

Hindustan Unilever (HUL) after market hours on Friday, 26 February 2016, announced changes in its Management Committee. Samir Singh, currently Vice President & Executive Director, Personal Care at HUL will be taking over as the Global Executive Vice President, Skin Cleansing at Unilever. Sandeep Kohli, currently Vice President, Myanmar Cambodia & Laos will succeed Samir Singh as Vice President and Executive Director, Personal Care, HUL.

Stocks and sector specific action could be witnessed based on the announcements in the Union Budget 2016-17, which will be unveiled in the Parliament by the finance minister Arun Jaitley today, 29 February 2016. According to news reports, the finance minister may bring in changes in the service tax regime and withdraw excise duty exemptions on some items in the Budget to set the stage for the rollout of the nationwide goods & services tax (GST). The list of exempted items under the GST will required to be pruned substantially so that it contains only essential items. This is key to keeping the GST rate low.

Meanwhile, the government may raise the rate of service tax to 16-17% to bridge the gap between the current service tax rate and proposed GST rates. Further, the Budget may rationalise exemptions available under service tax to align with the minimal proposed exemptions under GST, according to media reports.

For the banking sector, the key announcement to watch in the Union Budget 2016-17 is whether there is higher than proposed allocation of capital funds to public sector banks (PSU banks). As per Indradhanush framework for transforming PSU banks, the government has proposed capital infusion of Rs 70000 crore in PSU banks over four years through FY 2019, with Rs 25000 crore each for FY 2016 and FY 2017 and Rs 10000 crore each for FY 2018 and FY 2019. The government has already infused Rs 20000 crore in FY 2016 so far. A higher capital funds allocation would enable PSU banks to write off bad loans and meet with Basel III capital adequacy requirements. PSU banks continue to reel under a severe asset quality pressure, which worsened sharply in Q3 December 2015 after the Reserve Bank of India (RBI) advised banks to classify certain weak loan accounts as NPAs and make provision as a part of an Asset Quality Review (AQR) of the banking system.

For the IT sector, a key announcement to watch out for in Union Budget 2016-17 is whether the government restores the exemption from minimum alternate tax (MAT) on profit from exports for SEZ units. Due to removal of exemption from MAT for SEZ units in the 2011 Budget, the IT industry is struggling to utilize the MAT credit lying in balance sheet.

For the cement sector, analysts expect the government to continue its focus on infrastructure development in Union Budget 2016-17, which augurs well for cement demand. Like in the past, the cement industry continues to expect rationalization and simplification of the complicated excise duty structure on cement in the Budget. Currently excise duty on cement is levied in the form of 12.5% ad valorem plus specific duty Rs 125 per tonne with 30% abatement. Most of the varieties of cement are subjected to excise duty on the basis of the maximum retail price (MRP) printed on the bags. The cement industry also expects imposition of basic customs duty on cement imports into India to provide a level playing field to domestic cement manufacturers. Alternatively, the industry expects import duties on goods required for manufacture of cement to be abolished

The real estate industry expects the government to accord industry status to the sector in the Union Budget 2016-17. The industry status will help the sector access bank lending at lower interest rates. The realty sector also expects clarity to emerge on tax treatment of Real Estate Investment Trust (REITs), which may fast track the launch of REITs. It remains to be seen whether the government raises tax benefits on home loans. At present, the deduction available under section 24 of the Act is to a maximum limit of Rs 2 lakh on interest payment on loan taken for acquisition/construction of self-occupied house property. Additionally, exemption of up to Rs 1.50 lakh on principal payments for home loan under Section 80C of the Income Tax Act is available.

In the backdrop of a sharp fall in global crude oil prices during the past two years, companies involved in oil exploration and production expect relaxation on rate of cess on crude oil in the Union Budget 2016-17. The industry expects the levy to be made on ad-valorem basis on realized price on crude from the current specific levy of Rs 4,500 per metric tonne (MT). The industry also expects withdrawal of National Calamity Contingent Duty of Excise of Rs 50 per MT on crude oil. The upstream oil and gas sector also expects reduction/removal of the 5% customs duty on liquefied natural gas in order to provide a boost to the usage of cleaner fuel.

In view of dumping of steel into India from China, South Korea and Japan, the steel industry expects increase in customs duty to 25% on both long steel products and flat products in Union Budget 2016-17. At present, import duty on long steel products is 10% and that on flat products is 12.5%. Earlier this month, the government imposed a minimum import price (MIP) or floor price on 173 steel products ranging from $341 to $752 per tonne in a bid to protect the domestic steel industry from cheap imports.

The steel industry also expects withdrawal of the 2.5% customs duty on coking coal in the Budget, which will help reduce input cost for steel makers. Given the decline in Indias iron ore production, the steel industry also expects withdrawal of the 2.5% customs duty on iron ore. Iron ore is the primary raw material for steel making.

PSU bank stocks will be in focus as Ministry of Finance said on Sunday, 28 February 2016 that wwith a view to improve the Governance of public sector banks (PSBs), the Government had decided to set up an autonomous Banks Board Bureau. The Bureau will recommend for selection of heads - public sector banks and Financial Institutions and help Banks in developing strategies and capital raising plans. The Government has announced the constitution of Banks Board Bureau which will have three ex-officio members and three expert members in addition to Chairman. All the Members and Chairman will be part time.

Andhra Bank announced after market hours on Friday, 26 February 2016 that the board of directors of the bank at its meeting held on 26 February 2016 has approved raising of equity capital by issuance of 2.88 crore equity shares of Rs 10 each for cash at Rs 47.30 per share aggregating upto Rs 136.48 crore on preferential basis to Life Insurance Corporation of India. The issue is subject to shareholders approval at the extraordinary general meeting proposed to be held on 21 March 2016.

Gayatri Projects announced after market hours on Friday, 26 February 2016 that Gayatri Energy Ventures, a wholly owned subsidiary of the company along with its joint venture partner Sembcorp Industries, is launching its 2,640 megawatts (MW) SembCorp Gayatri Power Complex in an inaugural ceremony on 27 February 2016. Built, at a total project cost of $3 billion (Rs 20000 crore), the power complex is the largest foreign direct investment driven project on a single site in the thermal energy sector in India to date. The complex houses two 1,320 megawatts supercritical coal-fired power plants-Thermal Powertech Corporation India (TPCIL), first power plant successfully completed and commenced full commercial operation in September 2015, while the second plant, NCC Power Projects is expected to be fully operational in 2016. TPCIL has secured more than 85% of its net total generating capacity under long-term power purchase agreements with 570 MW agreement with Telangana Power Distribution Companies and 500 MW agreement with Andhra Pradesh & Telangana power distribution companies.

Filatex India announced after market hours on Friday, 26 February 2016 that a meeting of the board of directors of the company will be held on 16 March 2016, to consider the allotment of 1.15 crore warrants to the promoter group/others on preferential issue basis. The warrants will be convertible into equivalent number of fully paid up equity shares of Rs 10 each at a premium of Rs 35 per share, which shall be converted within 18 months from the date of allotment. The allotment of warrants is subject to approval of members in the extra-ordinary general meeting to be held on 12 March 2016 and in-principle approval from stock exchanges.

InterGlobe Aviation announced before market hours today, 29 February 2016, that Airbus has confirmed that beginning with March 2016, it will deliver 24 fuel efficient A320neo aircraft by March of 2017 as compared to the original plan to deliver 26 A320neos.

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UltraTech Cement may gain after acquisition of some cement units of Jaiprakash Associates
Feb 29,2016

UltraTech Cement and Jaiprakash Associates in separate announcments on Sunday, 28 February 2016 said that they have entered into a binding memorandum of understanding whereby UltraTech will acquire Jaiprakash Associates identified cement plants having total cement capacity of 22.4 million tonnes per annum (mtpa) (including a 4 mtpa plant under implementation at a cost of Rs 470 crore) situated in the states of Madhya Pradesh, Uttar Pradesh, Uttarakhand, Andhra Pradesh and Karnataka. The parties have agreed to an enterprise value of Rs 16500 crore. The assets will give the company access to the newer markets of Satna, UP East, Himachal Pradesh and Coastal Andhra where it does not have a presence as of now, UltraTech Cement said. Upon consummation of the proposed transaction, the companys cement capacity will stand augmented to 90.7 mtpa (currently 68.3 mtpa).

Separately, UltraTech Cement after market hours on Friday, 26 February 2016, announced withdrawal of scheme of arrangement between the company and JAL for the acquisition of JALs entire cement business situated at Bela and Siddhi in Madhya Pradesh as a going concern on slump sale basis. The Bombay High Court has indicated that based on the recent amendments in the provisions of the Mines and Minerals (Development & Regulation) Act, 1947 (MMDRA) preventing the transfer of mines granted other than through auction, and in the absence of any clear timelines for any amendment/clarification in the MMDRA, the Court cannot sanction the scheme, UltraTech said. Under the circumstances, it was decided to apply for withdrawal of the scheme filed before the High Court, which was permitted by the High Court at the hearing held on 25 February 2016, UltraTech said.

Hindustan Unilever (HUL) after market hours on Friday, 26 February 2016, announced changes in its Management Committee. Samir Singh, currently Vice President & Executive Director, Personal Care at HUL will be taking over as the Global Executive Vice President, Skin Cleansing at Unilever. Sandeep Kohli, currently Vice President, Myanmar Cambodia & Laos will succeed Samir Singh as Vice President and Executive Director, Personal Care, HUL.

Stocks and sector specific action could be witnessed based on the announcements in the Union Budget 2016-17, which will be unveiled in the Parliament by the finance minister Arun Jaitley today, 29 February 2016. According to news reports, the finance minister may bring in changes in the service tax regime and withdraw excise duty exemptions on some items in the Budget to set the stage for the rollout of the nationwide goods & services tax (GST). The list of exempted items under the GST will required to be pruned substantially so that it contains only essential items. This is key to keeping the GST rate low.

Meanwhile, the government may raise the rate of service tax to 16-17% to bridge the gap between the current service tax rate and proposed GST rates. Further, the Budget may rationalise exemptions available under service tax to align with the minimal proposed exemptions under GST, according to media reports.

For the banking sector, the key announcement to watch in the Union Budget 2016-17 is whether there is higher than proposed allocation of capital funds to public sector banks (PSU banks). As per Indradhanush framework for transforming PSU banks, the government has proposed capital infusion of Rs 70000 crore in PSU banks over four years through FY 2019, with Rs 25000 crore each for FY 2016 and FY 2017 and Rs 10000 crore each for FY 2018 and FY 2019. The government has already infused Rs 20000 crore in FY 2016 so far. A higher capital funds allocation would enable PSU banks to write off bad loans and meet with Basel III capital adequacy requirements. PSU banks continue to reel under a severe asset quality pressure, which worsened sharply in Q3 December 2015 after the Reserve Bank of India (RBI) advised banks to classify certain weak loan accounts as NPAs and make provision as a part of an Asset Quality Review (AQR) of the banking system.

For the IT sector, a key announcement to watch out for in Union Budget 2016-17 is whether the government restores the exemption from minimum alternate tax (MAT) on profit from exports for SEZ units. Due to removal of exemption from MAT for SEZ units in the 2011 Budget, the IT industry is struggling to utilize the MAT credit lying in balance sheet.

For the cement sector, analysts expect the government to continue its focus on infrastructure development in Union Budget 2016-17, which augurs well for cement demand. Like in the past, the cement industry continues to expect rationalization and simplification of the complicated excise duty structure on cement in the Budget. Currently excise duty on cement is levied in the form of 12.5% ad valorem plus specific duty Rs 125 per tonne with 30% abatement. Most of the varieties of cement are subjected to excise duty on the basis of the maximum retail price (MRP) printed on the bags. The cement industry also expects imposition of basic customs duty on cement imports into India to provide a level playing field to domestic cement manufacturers. Alternatively, the industry expects import duties on goods required for manufacture of cement to be abolished

The real estate industry expects the government to accord industry status to the sector in the Union Budget 2016-17. The industry status will help the sector access bank lending at lower interest rates. The realty sector also expects clarity to emerge on tax treatment of Real Estate Investment Trust (REITs), which may fast track the launch of REITs. It remains to be seen whether the government raises tax benefits on home loans. At present, the deduction available under section 24 of the Act is to a maximum limit of Rs 2 lakh on interest payment on loan taken for acquisition/construction of self-occupied house property. Additionally, exemption of up to Rs 1.50 lakh on principal payments for home loan under Section 80C of the Income Tax Act is available.

In the backdrop of a sharp fall in global crude oil prices during the past two years, companies involved in oil exploration and production expect relaxation on rate of cess on crude oil in the Union Budget 2016-17. The industry expects the levy to be made on ad-valorem basis on realized price on crude from the current specific levy of Rs 4,500 per metric tonne (MT). The industry also expects withdrawal of National Calamity Contingent Duty of Excise of Rs 50 per MT on crude oil. The upstream oil and gas sector also expects reduction/removal of the 5% customs duty on liquefied natural gas in order to provide a boost to the usage of cleaner fuel.

In view of dumping of steel into India from China, South Korea and Japan, the steel industry expects increase in customs duty to 25% on both long steel products and flat products in Union Budget 2016-17. At present, import duty on long steel products is 10% and that on flat products is 12.5%. Earlier this month, the government imposed a minimum import price (MIP) or floor price on 173 steel products ranging from $341 to $752 per tonne in a bid to protect the domestic steel industry from cheap imports.

The steel industry also expects withdrawal of the 2.5% customs duty on coking coal in the Budget, which will help reduce input cost for steel makers. Given the decline in Indias iron ore production, the steel industry also expects withdrawal of the 2.5% customs duty on iron ore. Iron ore is the primary raw material for steel making.

PSU bank stocks will be in focus as Ministry of Finance said on Sunday, 28 February 2016 that with a view to improve the Governance of public sector banks (PSBs), the Government had decided to set up an autonomous Banks Board Bureau. The Bureau will recommend for selection of heads - public sector banks and Financial Institutions and help Banks in developing strategies and capital raising plans. The Government has announced the constitution of Banks Board Bureau which will have three ex-officio members and three expert members in addition to Chairman. All the Members and Chairman will be part time.

Andhra Bank announced after market hours on Friday, 26 February 2016 that the board of directors of the bank at its meeting held on 26 February 2016 has approved raising of equity capital by issuance of 2.88 crore equity shares of Rs 10 each for cash at Rs 47.30 per share aggregating upto Rs 136.48 crore on preferential basis to Life Insurance Corporation of India. The issue is subject to shareholders approval at the extraordinary general meeting proposed to be held on 21 March 2016.

Gayatri Projects announced after market hours on Friday, 26 February 2016 that Gayatri Energy Ventures, a wholly owned subsidiary of the company along with its joint venture partner Sembcorp Industries, is launching its 2,640 megawatts (MW) SembCorp Gayatri Power Complex in an inaugural ceremony on 27 February 2016. Built, at a total project cost of $3 billion (Rs 20000 crore), the power complex is the largest foreign direct investment driven project on a single site in the thermal energy sector in India to date. The complex houses two 1,320 megawatts supercritical coal-fired power plants-Thermal Powertech Corporation India (TPCIL), first power plant successfully completed and commenced full commercial operation in September 2015, while the second plant, NCC Power Projects is expected to be fully operational in 2016. TPCIL has secured more than 85% of its net total generating capacity under long-term power purchase agreements with 570 MW agreement with Telangana Power Distribution Companies and 500 MW agreement with Andhra Pradesh & Telangana power distribution companies.

Filatex India announced after market hours on Friday, 26 February 2016 that a meeting of the board of directors of the company will be held on 16 March 2016, to consider the allotment of 1.15 crore warrants to the promoter group/others on preferential issue basis. The warrants will be convertible into equivalent number of fully paid up equity shares of Rs 10 each at a premium of Rs 35 per share, which shall be converted within 18 months from the date of allotment. The allotment of warrants is subject to approval of members in the extra-ordinary general meeting to be held on 12 March 2016 and in-principle approval from stock exchanges.

InterGlobe Aviation announced before market hours today, 29 February 2016, that Airbus has confirmed that beginning with March 2016, it will deliver 24 fuel efficient A320neo aircraft by March of 2017 as compared to the original plan to deliver 26 A320neos.

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RCF in focus on plan to buy 11% stake in JV to revive Sindri plant
Feb 26,2016

Rashtriya Chemicals and Fertilizers (RCF) announced after market hours yesterday, 25 February 2016 that the board of directors of the company at its meeting held on 25 February 2016 accorded in-principle approval to take a minimum of 11% equity stake in the revival of Sindri unit of FCIL by forming new joint venture company with other public sector units (PSUs).

Wipro announced after market hours yesterday, 25 February 2016, that it has collaborated with Wind River to showcase carrier grade cloud technologies.

Capital First announced after market hours yesterday, 25 February 2016 that the meeting of the debenture committee of the board of directors of the company will be held on 1 March 2016, to consider and approve the private placement of secured/unsecured/perpetual, redeemable, non-convertible securities in the nature of debentures to be listed on the wholesale debt market segment of NSE.

Sadbhav Engineering announced after market hours yesterday, 25 February 2016 that due to agitation/violence currently going on in the state of Haryana, toll operation of the companys step-down subsidiary company, Rohtak Panipat Tollway has been temporarily affected from 17 February 2016 till date.

United Spirits announced after market hours yesterday, 25 February 2016, that Dr Vijay Mallya resigned with effect from 25 February 2016 from his position as Chairman and nonexecutive director of the company, and from his position as a director of Royal Challengers Sports (RCSPL) and Four Seasons Wines. Following Dr Mallyas resignation, the Board of Directors of the company announced that Mr Mahendra Kumar Sharma, Independent Director and Chairman of the Audit Committee, has been appointed as the Chairman of the Board with effect from 25 February 2016.

Dr Mallyas resignation brings to an end the uncertainty relating to the companys governance as well the ambiguity relating to certain historical transactions that were voted down by the companys shareholders in November 2014.

In addition to confirming his agreed resignation, Dr Mallya has agreed global non-compete (excluding United Kingdom), non-interference and standstill obligations as regards the company for a period of five years following this date.

Dr Mallya will have the honorary title of Founder Emeritus - USL. It is agreed that this title carries no authority, responsibility, rights or benefits within the Company or its group. Further, Mr Sidhartha Mallya, Dr Mallyas son, will be a director of RCSPL which holds the franchise for the IPL team Royal Challengers Bangalore (RCB), for a period of two years or while RCB remains part of the USL Group, whichever is earlier. Dr Mallya will have the honorary title of Chief Mentor while Mr Sidhartha Mallya remains on the board of RCSPL. The members of the board of RCSPL will be able, if they wish, to consult with Dr Mallya.

Bank stocks will be watched. The Reserve Bank of India (RBI) yesterday, 25 February 2016, partly modified and also clarified, some aspects of its prudential guidelines for revitalising stressed assets in the economy. RBI asked banks going in for strategic debt restructuring (SDR) scheme to make sufficient provisions to the tune of 15% of the loans value, to tide over possible loss in the value of the equity they acquire in lieu of debt and residual loans. The RBI said it is possible that the lenders, after invoking SDR in an account, may not be able to sell their stake to new promoters within the 18 month period, thus revoking the stand-still benefit, which may result in sharp deterioration in the classification of their remaining loan exposures from what prevailed on the reference date. To avoid the cliff effect of resultant provisioning, banks should build provisions such that by the end of the 18-month period from the reference date, they hold provision of at least 15% of the residual loan, RBI said in a notification. The required provision should be made in equal installments over the four quarters and it shall be reversed only when all the outstanding loans in the account perform satisfactorily during the specified period after transfer of ownership control to new promoters. The RBI reiterated that the trigger for SDR must be non-achievement of the viability milestones and non-adherence to critical conditions linked to the option of invoking SDR, as stipulated in restructuring agreement, and SDR cannot be triggered for any other reason.

The central bank also said the asset classification benefit will be available to the lenders provided they divest a minimum of 26% of the shares of the acquired company to the new promoters within the stipulated time line of 18 months and the new promoters take over management control. The lenders would thus have the option to exit their remaining holdings gradually, with upside as the company turns around, the notification said.

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Rail stocks in spotlight
Feb 25,2016

Shares of companies whose fortunes are linked to orders from Indian railways will be watched. Railway Minister Suresh Prabhu presents Railway Budget for 2016-17 in the Lok Sabha at 12 noon today, 25 February 2016. It remains to be seen if the Rail Minister announces changes in freight rates in the Rail Budget. The Railway Budget is reportedly expected to focus on massive capacity creation in the rail sector with an increased outlay of about Rs 1.25 lakh crore. A significant amount will be earmarked for safety upgradation, electrification, doubling and modernisation of yards to clear traffic bottlenecks, reports added.

Wockhardt announced after market hours yesterday, 24 February 2016 that on 23 February 2016, Khorakiwala Holdings and Investments, promoter group company, have acquired 4.32 crore non-convertible cumulative redeemable preference shares (NCCRPS) and 1.85 crore optionally convertible cumulative redeemable preference shares (OCCRPS) of the company for an amount aggregating to Rs 9.26 crore and Rs 26.75 crore respectively.

National Fertilizers after market hours yesterday, 24 February 2016, announced resumption of production at its urea plant at Nangal in Punjab after a local truck operators union lifted the blockade on movement of material at the unit in compliance of the orders of the High Court of Punjab & Haryana. The company had temporarily suspended production at the unit on 12 February 2016 due to blockade on the movement of the material by the local truck operators union.

Central Bank of India announced after market hours yesterday, 24 February 2016 that a meeting of the capital raising committee of the board of directors of the bank will be held on 2 March 2016, to consider and approve raising of additional equity capital by issuance and allotment of equity shares of the face value of Rs 10 each on preferential basis at such issue price per equity share as may be determined subject to approval of Government of India, Reserve Bank of India, shareholders and other statutory authorities (if any). In the above meeting, the capital raising committee may also decide to hold an extra-ordinary general meeting of shareholders on 30 March 2016 to consider and pass the necessary special resolution and fix 29 February 2016 as the relevant date for the purpose of determining the issue price.

IVRCL announced after market hours yesterday, 24 February 2016 that State Bank of India, monitoring Institution acting on behalf of the lenders has informed the company that joint lenders forum (JLF) at the meeting held on 23 February 2016 have approved the special drawing rights (SDR) conversion package and that the lenders will convert part of the debt of the company into equity, in one or more tranches, at the price of Rs 8.765 per equity share of face value of Rs 2 each, enabling the lenders to collectively hold 51% or more of the total share capital of the company.

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NTPC in focus as retail investors participate in OFS today
Feb 24,2016

NTPC will remain in focus as bidding from retail investors for the offer for sale (OFS) for divestment of Government of Indias (GoI) up to 5% stake in the state-run firm takes place in a single trading session today, 24 February 2016. Retail investors will be allotted shares in the OFS at a discount of 5% to the cut off price. The OFS on Tuesday, 23 February 2016, received strong response from institutional investors after GoI set the floor price for the OFS at a discount to the ruling market price. The floor price for the OFS has been fixed at Rs 122 per share.

Meanwhile, NTPC announced after market hours yesterday, 23 February 2016, that it has launched issue of $500 million fixed rate unsecured notes due 2026. The notes carry a coupon rate of 4.25% per annum payable semi-annually, with tenor of 10 years. The notes are expected to be settled by 26 February 2016. The proceeds of the issue will be used for capital expenditure of ongoing and/or new power projects, coal mining projects and renovation and modernisation of power stations.

Wipro announced a partnership with SugarCRM to offer customer relationship management (CRM) solutions to its enterprise customers. The company made the announcement after market hours yesterday, 23 February 2016.

TCS announced after market hours today, 23 February 2016, that it has been selected by Element Financial Corporation, one of North Americas leading fleet management companies, to help it significantly evolve its fleet management technology platforms and user experience.

Maruti Suzuki India announced after market hours yesterday, 23 February 2016, that it has resumed production of vehicles at its facilities in Gurgaon and Manesar starting from yesterday, 23 February 2016 second half. The supply of components has started gradually. The company had to suspend operations at these facilities from Saturday, 20 February 2016 second half as supply of certain components was disrupted due to agitation in Haryana by the Jat community.

NMDC turns ex-dividend today, 24 February 2016, for interim dividend of Rs 9.50 per share for the year ending 31 March 2016 (FY 2016).

Andhra Bank announced after market hours yesterday, 23 February 2016, that a meeting of the board of directors of the bank will be held on 26 February 2016, to consider preferential allotment of share capital to LIC of India, subject to necessary statutory approvals.

Indian Metals & Ferro Alloys after trading hours yesterday, 23 February 2016, announced the lifting of lock out at its Therubali unit in Rayagada district in Odisha with effect from Wednesday, 24 February 2016. The company had declared lock out at the unit on 21 November 2015 consequent to illegal action by workers in not reporting for duty.

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NTPC in focus as retail investors to participate in OFS today
Feb 24,2016

NTPC will remain in focus as bidding from retail investors for the offer for sale (OFS) for divestment of Government of Indias (GoI) up to 5% stake in the state-run firm takes place in a single trading session today, 24 February 2016. Retail investors will be allotted shares in the OFS at a discount of 5% to the cut off price. The OFS on Tuesday, 23 February 2016, received strong response from institutional investors after GoI set the floor price for the OFS at a discount to the ruling market price. The floor price for the OFS has been fixed at Rs 122 per share.

Meanwhile, NTPC announced after market hours yesterday, 23 February 2016, that it has launched issue of $500 million fixed rate unsecured notes due 2026. The notes carry a coupon rate of 4.25% per annum payable semi-annually, with tenor of 10 years. The notes are expected to be settled by 26 February 2016. The proceeds of the issue will be used for capital expenditure of ongoing and/or new power projects, coal mining projects and renovation and modernisation of power stations.

Wipro announced a partnership with SugarCRM to offer customer relationship management (CRM) solutions to its enterprise customers. The company made the announcement after market hours yesterday, 23 February 2016.

TCS after market hours yesterday, 23 February 2016, announced that it has been selected by Element Financial Corporation, one of North Americas leading fleet management companies, to help it significantly evolve its fleet management technology platforms and user experience.

Maruti Suzuki India announced after market hours yesterday, 23 February 2016, that it has resumed production of vehicles at its facilities in Gurgaon and Manesar starting from yesterday, 23 February 2016 second half. The supply of components has started gradually. The company had to suspend operations at these facilities from Saturday, 20 February 2016 second half as supply of certain components was disrupted due to agitation in Haryana by the Jat community.

NMDC turns ex-dividend today, 24 February 2016, for interim dividend of Rs 9.50 per share for the year ending 31 March 2016 (FY 2016).

Andhra Bank announced after market hours yesterday, 23 February 2016, that a meeting of the board of directors of the bank will be held on 26 February 2016, to consider preferential allotment of share capital to LIC of India, subject to necessary statutory approvals.

Indian Metals & Ferro Alloys after trading hours yesterday, 23 February 2016, announced the lifting of lock out at its Therubali unit in Rayagada district in Odisha with effect from Wednesday, 24 February 2016. The company had declared lock out at the unit on 21 November 2015 consequent to illegal action by workers in not reporting for duty.

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NTPC in spotlight as government to sell 5% stake through OFS
Feb 23,2016

NTPC will be in focus as its promoter and principal shareholder Government of India (GoI) has decided to sell up to 41.22 crore equity shares, constituting 5% of the total paid up equity share capital of the company through Offer for Sale (OFS) via the stock exchanges mechanism. The floor price for the OFS has been fixed at Rs 122 per share. Bidding for the shares in the OFS by non-retail investors takes place in a single trading session called T day today, 23 February 2016. However, those non-retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day will be allowed to revise their bids on T+1 day. Bidding by retail investors will take place in a single trading session called T+1 day on Wednesday, 24 February 2016. GoI currently holds 74.96% stake in NTPC (as per shareholding pattern as on 31 December 2015). The OFS floor price of Rs 122 per share is at a discount of 3.82% to the stocks closing price of Rs 126.85 on BSE yesterday, 22 February 2016.

The National Stock Exchange (NSE) will add Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors Differential Voting Rights (DVR) to its benchmark Nifty 50 index. The inclusion of Tata Motors DVRs will be in addition to the auto makers common shares, and would effectively mean the benchmark NSE index will have 51 stocks, NSE said in a release after trading hours yesterday, 22 February 2016. Cairn India, Punjab National Bank, and Vedanta will be removed from the Nifty. All changes will be effective 1 April 2016, NSE said.

Wipro announced a partnership with Verveba Telecom LLC, a premium telecom network engineering company, for advanced mobile radio network optimization solutions. The company made the announcement after market hours yesterday, 22 February 2016.

HPCL announced after market hours yesterday, 22 February 2016, that global credit rating agency, Moodys Investors Service (Moodys) has assigned a first time Baa3 issuer rating to the company. The outlook for the rating is positive, HPCL added.

Indian Oil Corporation turns ex-dividend today, 23 February 2016, for interim dividend of Rs 5.50 per share for the year ending 31 March 2016 (FY 2016).

Vijaya Bank announced after market hours yesterday, 22 February 2016, that the bank has decided to raise additional Tier - I bonds (Series III) amounting to Rs 500 crore.

Emami announced after market hours yesterday, 22 February 2016, that it has allotted 3,000 unsecured non-convertible debentures (NCDs) of the face value of Rs 10 lakhs each, aggregating to Rs 300 crore to DBS Bank on private placement basis. The issue/ allotment of NCDs are in terms of the approval granted by the shareholders at the 32nd Annual General Meeting of the company held on 5 August 2015. Further, the entire proceeds of the NCD issue will be used to retire the short term debt including payment of commercial papers.

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Maruti Suzuki in focus after suspension of production
Feb 22,2016

Maruti Suzuki India (MSIL) on Saturday, 20 February 2016 said that owing to the agitation in Rohtak and nearby areas, supplies of certain components have been disrupted. As a consequence, the company has to temporarily suspend manufacture of cars at its facilities in Manesar and Gurgaon, starting second half of Saturday, 20 February 2016. MSIL said it is making efforts to arrange the components from other sources. Once the supply of components is restored, normal operations will resume, it added. The combined output from Manesar and Gurgaon is currently about 5,000 vehicles per day, MSIL said.

Shares of ACC turn ex-dividend today, 22 February 2016, for final dividend of Rs 6 per share for the year ended 31 December 2015.

Shares of Ambuja Cements turn ex-dividend today, 22 February 2016, for final dividend of Rs 1.20 per share for the year ended 31 December 2015.

Aditya Birla Nuvo announced after market hours on Friday, 19 February 2016, that it has jointly incorporated a new subsidiary with Idea Cellular to foray as a payments bank. Aditya Birla Nuvo will be holding 51% stake in the new subsidiary, Aditya Birla Idea Payments Bank, while the balance 49% stake will be held by Idea Cellular.

In August last year, Aditya Birla Nuvo announced that it received an in-principle approval from the Reserve Bank of India (RBI) to set up a payments bank under the Guidelines for Licensing of Payments Banks.

Jet Airways (India) will be watched after clarification. Some media reports suggested that UAE-based Etihad Airways, which has 24% stake in Jet Airways, is likely to raise it to 49%, the maximum possible for foreign carriers to have in a domestic scheduled passenger airline.

With reference to the news reports, Jet Airways (India) clarified after market hours on Friday, 19 February 2016, that the news reports were speculative in nature and no such move was under contemplation.

Divis Laboratories announced after market hours on Friday, 19 February 2016, that it has had a successful inspection by the US Food and Drug Administration (USFDA) for its Unit-2 at Chippada, Bheemunipatnam near Visakhapatnam during February 2016 with no observations.

IDBI Bank on Saturday, 20 February 2016 said that its board has approved the proposal for preferential issue of capital to Life Insurance Corporation of India aggregating upto Rs 1500 crore (inclusive of premium amount) subject to Government of Indias approval.

Bank of India on Saturday, 20 February 2016 said that the rating agency ICRA has revised the credit ratings for bonds issued by the bank. The rating on lower tier-II bonds has been revised from AA+ Stable to AA Stable. The rating on upper tier-II bonds has been revised from AA Stable to AA- Stable. The rating on innovative perpetual debt instruments has been revised from AA Stable to AA- Stable. The rating on term deposits has been revised from MAAA to MAA+.

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JSPL in focus after debt recast
Feb 19,2016

Jindal Steel & Power (JSPL) announced after market hours yesterday, 18 February 2016, that it has implemented a project which will qualify for the Reserve Bank of Indias (RBI) 5/25 scheme and is in discussion with the banks for various financing options including 5/25 scheme. Considering the need to allow longer repayment period for term loans to projects which require elongated servicing period, RBI announced 5/25 scheme to address this requirement.

HDFC Bank said that the bank has outstanding bonds totaling to about $1.20 billion issued from Bahrain branch. These bonds have a dual rating from Standard & Poors (S&P) of BBB- and Moodys of Baa3. The Issuer Rating of HDFC Bank by S&P and Moodys is BBB- and Baa3 respectively. On 17 February 2016, S&P lowered its long and short term foreign and local currency sovereign credit ratings on the Kingdom of Bahrain to BB/B (stable) from BBB-/A3 (negative). The rating criteria published by S&P restrict the rating of any bond issued in a jurisdiction to the host country rating. Consequent to the recent rating action on Bahrain, the bonds issued by HDFC Bank may also be subject to rating action by S&P. The bank is in the process of carrying out modifications to the structure of all the issuances done from Bahrain in order to ensure that the bonds issued by HDFC Bank are insulated from any rating actions on the host country. The announcement was made before market hours today, 19 February 2016.

State Bank of India said that the bank on 18 February 2016 issued 30,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs 10 lakh each at par, with 10 year tenure, bearing 8.45% per annum coupon and with call option after five years, aggregating to Rs 3,000 crore on private placement basis. The announcement was made before market hours today, 19 February 2016.

Gayatri Projects announced after market hours yesterday, 18 February 2016, that Thermal Powertech Corporation India (TPCIL), a joint venture between Gayatri Energy Ventures (a wholly-owned subsidiary of Gayatri Projects) and SembCorp Utilities (a wholly-owned subsidiary of SembCorp Industries) has signed a long-term power purchase agreement (PPA) with power distribution companies in Telangana. Under the power purchase agreement, 570 megawatts of power will be sold to the Southern and Northern power distribution companies of Telangana for a period of 8 years.

Together with the 500 megawatts of power supplied to the Andhra Pradesh and Telangana power distribution companies under a 25-year power purchase agreement, TPCIL has secured more than 85% of its net total generating capacity under long-term power purchase agreements.

The approximately $1.5 billion coal-fired power plant, which has a total capacity of 1,320 megawatts, completed its first 660-megawatt unit in March 2015 and second 660-megawatt unit in September 2015. The plant is more efficient and environmentally-friendly compared to conventional coal-fired power plants as it uses supercritical technology.

Atul after market hours yesterday, 18 February 2016, announced purchase of 49% stake in Anchor Adhesives at an aggregate cost of Rs 80.27 lakh. Anchor Adhesives being associate company of Atul is a related party of Atul. The transaction is done at arms length basis. Post transaction, Atul holds 98.99% stake in Anchor Adhesives.

Info-Drive Software after market hours yesterday, 18 February 2016, announced that its UAE-based subsidiary has entered into a strategic alliance with Hullmin FZE, UAE. The alliance is focused to bring specialized IT support and delivery services to emerging markets.

Both the companies concur that it is mutually beneficial to share knowledge and cooperate with their respective marketing and sales efforts relating to IT products and services and jointly pursue client opportunities in the emerging markets and economies.

The geographic coverage includes but is not limited to the following countries: Turkey, Iran, Saudi Arabia, Commonwealth of Independent States (CIS), UK, USA and Australia.

The coverage of services includes but is not limited to software development, support & services; solutions / systems implementation, support & services; business process outsourcing; managed services and operations; strategy consulting; IT manpower & HR outsourcing; statutory and internal management reporting outsourcing.

Seamec announced after market hours yesterday, 18 February 2016, that it has entered into a contract for the charter hire of vessel Seamec Princess with Synergy-Subsea Engineeering LLC for undertaking job in Persian Gulf. The tenure of the contract would be around 21 days subject to extension. The contract commenced with mobilisation around 3 February 2016. The value of charter would be around $1.3 million.

Shriram EPC announced after market hours yesterday, 18 February 2016, that it won two orders worth over Rs 430 crore. The company won a Rs 301.05 crore order from Ministry of Roads and Highways for constructing a 50 kilometer road in Chhattisgarh on engineering, procurement, and construction (EPC) basis. Further, the company also won a Rs 137 crore order from Drinking Water & Sanitation Department of the Government of Jharkhand.

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Quick Heal Technologies in focus on debut
Feb 18,2016

Shares of Quick Heal Technologies will debut on the bourses today, 18 February 2016. The initial public offer (IPO) of Quick Heal Technologies was subscribed 10.8 times. The company allotted shares at top end of the Rs 311-321 per share price band in the IPO.

Mahindra & Mahindra (M&M) after market hours yesterday, 17 February 2016, announced that its sports utility vehicle (SUV), KUV100 has crossed 21,000 bookings in just a month post launch. M&Ms ground up petrol engine mFALCON G80 and diesel engine mFALCON, D75 have also been well received by customers, and almost half the bookings have been received for the petrol variant, M&M said in a statement.

Tata Power Company announced after trading hours yesterday, 17 February 2016, that Inox Wind has bagged a repeat order for a 100 megawatts (MW) wind power project at Rojmal, Gujarat from Tata Power Renewable Energy (TPREL). The order is TPRELs fourth project with Inox Wind taking the cumulative orders placed with Inox Wind across various sites to more than 300 MW. TPREL is a 100% subsidiary of Tata Power and has n++215 MW of commissioned renewable assets, with another 250 MW under construction/on order. As part of the turnkey order, Inox Wind will provide TPREL with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services. The repeat order involves supply and installation of 50 units of Inox Winds 2MW DFIG 100 rotor dia wind turbine generator.

Jindal Steel & Power (JSPL) after market hours yesterday, 17 February 2016 in a clarification with regard to recent downgrade of the companys ratings by the rating agency Crisil said that the company has been pursuing monetisation actions as previously indicated and will come out with the appropriate announcement as and when any transaction is concluded. JSPL said it believes that minimum import price (MIP) announced by the Government of India, improved demand/better utilisation of capacity and successful completion of monetisation opportunities will improve financial results/cash flows considerably for the company in the next 6 to 12 months.

It may be recalled that rating agency Crisil had downgraded the long term and short term ratings of JSPLs Rs 32638 crore bank loan facilities on 15 February 2016.

National Aluminium Company (Nalco) will be watched. Some media reports suggested that Nalco will invest Rs 20550 crore for expansion of its alumina refinery at Damanjodi (Odisha) and setting up an aluminium park at Angul (Odisha).

With reference to the news reports, Nalco clarified after market hours yesterday, 17 February 2016, that as a part of Make in India, Government of Odisha had organized an Investment Meet, Odisha Invest in Mumbai on 14 February 2016, which was attended by Chief Minister of Odisha along with other government officials and captains from the industries. Government of Odisha sought investment announcement from different industries, which was non-binding in nature and was indicating the intentions only. Information regarding proposed expansion of alumina refinery and aluminium park in Odisha are already in the public domain which were also reported in the Annual Report 2014-15. The company had also informed the stock exchanges about the allocation of Utkal - D & E coal blocks vide its letter dated 15 September 2015, both of which are in Odisha. The projects are likely to be completed only in next 6-7 years subject to necessary approvals from the various Govt. authorities.

n++Bharat Forge (BFL) after trading hours yesterday, 17 February 2016, announced that it completed first shipment of titanium flap-track forgings for Boeings Next-Generation 737. BFL will also supply forgings for the 737 MAX, scheduled to enter into service in 2017. Both the companies continue to address opportunities to expand BFL work in support of Boeing and its supply chain partners around the world. BFL also intends to expand its capabilities to offer higher value machining and manufacture of assemblies, the company said.

Baba Kalyani, Chairman and Managing Director, Bharat Forge said that BFL keenly looks forward to working with Boeing and its supply chain partners to grow its relationship to significant levels. In addition to continually enhancing and upgrading capabilities, BFL will also pursue merger and acquisition options n++ especially for machining and assembly, to accelerate its progress to become a significant player in the global aerospace component business.

Jet Airways (India) announced after trading hours yesterday, 17 February 2016, that ICRA has upgraded the long term rating of the companys non-convertible debenture programme and fund based facilities to investment grade rating of [ICRA] BBB- (ICRA triple B minus) from [ICRA] BB (ICRA double B). The outlook on the long term rating is stable.

ICRA also upgraded the long term rating of the companys non-convertible debenture programme and fund based facilities to investment grade rating of [ICRA] BBB- (ICRA triple B minus) from [ICRA] BB (ICRA double B). The outlook on the long term rating is stable.

Further, ICRA also upgraded the rating of short term fund based and non-fund based facilities to [ICRA] A3 from [ICRA] A4.

n++

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Bharti Airtel in focus on management rejig for African operations
Feb 17,2016

Bharti Airtel after trading hours yesterday, 16 February 2016, announced changes at top management at its Africa operations. Christian Defaria, managing director (MD) and CEO, Airtel Africa, has been elevated to the position of Executive Chairman, Airtel Africa. In his new role, he will continue to support the vision of Airtel Africa and lead all matters relating to legal, regulatory affairs, shareholders as well as Mergers & Acquisitions. Raghunath Mandava, who is currently Director - Customer Experience, India & South Asia, will take over as Chief Operating Officer, Airtel Africa. Mandava will relocate to Nairobi and will be fully responsible for the commercial operations. As per the new cluster based organization design, the 15 African operating companies will now be classified into eight clusters with all cluster heads reporting to Mandava.

In a separate announcement after trading hours yesterday, 16 February 2016, Bharti Airtel said it appointed Sarang Kanade as Director - Customer Experience, India & South Asia. He will report to Gopal Vittal, CEO - India & South Asia, Bharti Airtel. Sarang, who is currently CEO, Delhi Circle, takes over from Raghunath Mandava, who has been appointed as the Chief Operating Officer of Airtel Africa.

Adani Ports and Special Economic Zone (APSEZ) after market hours yesterday, 16 February 2016 said it has raised Rs 750 crore by allotment of 7,500 rated, listed, taxable, secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each on private placement basis. The NCDs will be listed on the wholesale debt market segment of BSE.

Cipla after trading hours yesterday, 16 February 2016, announced that it appears that the Government, based on the recommendations of the Foreign Investment Promotion Board, approved the proposed investment by FIL Capital Investments (Mauritius) II Limited in Cipla Health, subsidiary of the company. The investment is still subject to other conditions precedent and the transfer of Companys consumer healthcare business to Cipla Health.

The government announced yesterday, 16 February 2016, that it approved initial investment of Rs 128.96 crore from FIL Capital Investments (Mauritius) II in Cipla Healthcare, a wholly owned subsidiary of Cipla, by way of subscription to fresh equity shares and CCPS up to a maximum of 26.11% of the share capital of Cipla Healthcare. The government also approved investment of upto Rs 16.26 crore by FIL Capital Investments (Mauritius) II in subsequent rounds of investment in Cipla Health post the closing of the initial investment.

Kesoram Industries after trading hours yesterday, 16 February 2016, announced that the board of directors has approved a preferential issue of equity shares worth upto Rs 90 crore to Manav Investment and Trading Company, a promoter group company. The board also approved issuing optionally convertible preference shares of face value of Rs 100 each (OCPS) worth upto Rs 90 crore to Induslnd Bank. Both issues will be subject to the approval of the shareholders of the company to be taken through postal ballot. A committee of the board will decide further details of the proposed preferential issues.

Valecha Engineering after trading hours yesterday, 16 February 2016, announced that it bagged two projects worth Rs 398.03 crore. The company bagged an order worth Rs 308.77 crore for rehabilitation and upgradation of National Highway 43 to two lane with paved shoulder in Chhattisgarh on engineering, procurement, construction (EPC) basis. Further, the company won an order worth Rs 89.26 crore for construction of rail flyover for harbour line at Kurla in connection with Mumbai CST-Kurla 5th and 6th lines project.

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ICICI Bank in spotlight on fund raising proposal
Feb 16,2016

ICICI Bank after market hours yesterday, 15 February 2016 said that a proposal to raise funds through issuance of long term bonds in the nature of debentures for lending to long term projects in infrastructure and affordable housing on a private placement basis will be considered by the Committee of Executive Directors (COED) at any time within a period of 10 days commencing from 18 February 2016. It may be recalled that ICICI Bank had received the approval of shareholders on 29 June 2015, to borrow by way of securities including but not limited to bonds and non-convertible debentures upto Rs 50000 crore on private placement basis.

Tata Steel will be in focus after clarification. Some media reports suggested that Tata Steel Special Economic Zone (TSSEZ) (a subsidiary company of Tata Steel) is planning to invest between Rs 2000 crore and 2500 crore for development of infrastructure at Gopalpur in Odisha in the near-term. With reference to the news items, Tata Steel clarified after market hours yesterday, 15 February 2016, that the Gopalpur Industrial Park is being developed by TSSEZ in Gopalpur, Odisha. The Industrial Park seeks primarily to attract investments in defence, manufacturing, aerospace engineering, metal downstream industries, engineering, chemicals and other emerging sectors, Tata Steel said. The industrial park at Gopalpur is expected to attract significant investments and generate direct and indirect employment opportunities in the region, it added.

The company added that the news item with respect to the companys future investment seems have been quoted out of context. The senior leadership of Tata Steel Special Economic Zone was responding to a generic query on the possible amount that would be required for developing infrastructure in the Gopalpur SEZ, the company said. The statement being generic, should not be construed as a decision of direct investment commitment by Tata Steel, it added.

There have been no discussions around the possible future investment in the project by Tata Steel and hence it is clarified that currently there is no trigger for disclosure under the Sebi Listing Regulations, Tata Steel said.

Indian Bank will be in focus after clarification. According to reports, infrastructure and real estate firm Marg has lost control of a port it built at Karaikal in Puducherry to state-owned Indian Bank. With reference to the news items, Indian Bank clarified after market hours yesterday, 15 February 2016, that its consortium of banks had lent Marg for building a port at Karaikal in Puducherry. The borrower defaulted on payment of the loan and consequent to the advance becoming bad, the consortium of banks, led by Indian Bank classified the advance as a non-performing asset. As a part of recovery measures, the lender banks invoked the shares held by Marg in Karaikal Port which were pledged with the banks and transferred the same in favour of the consortium of banks, making their combined holding to 36.75% in Karaikal Port. Indian Bank is holding 19.52% share in the consortium and is acting as trustee and security agent for the consortium of banks. However, Marg immediately moved to the Madras High Court and obtained status quo order and the stay is still pending, Indian Bank said in a statement.

Mercator announced after market hours yesterday, 15 February 2016, that the non-convertible debenture of the company aggregating to Rs 150 crore outstanding as on 31 December 2015 are secured by way of first pari passu charge on assets of the company and the assets cover thereof is more than hundred percent of the principal amount of the said debentures.

JCT announced after market hours yesterday, 15 February 2016, that its board of directors has approved the conversion of 10 lakh preference shares of Rs 100 each aggregating to Rs 10 crore held by one of the promoter companies, into equity shares at a price calculated as per Sebi (ICDR) Regulations, 2009 subject to requisite approvals as may required.

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Bank of Baroda in spotlight after announcing Q3 numbers
Feb 15,2016

Bank of Baroda reported net loss of Rs 3342.04 crore in Q3 December 2015 as against net profit of Rs 333.98 crore in Q3 December 2014. Total income declined 0.68% at Rs 11726.95 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 13 February 2016.

Jindal Steel & Power (JSPL) reported consolidated net loss of Rs 573.48 crore in Q3 December 2015, lower than net loss of Rs 1618.78 crore in Q3 December 2014. Total income declined 14.01% to Rs 4366.89 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 13 February 2016.

Tata Power Company after market hours on Friday, 12 February 2016 announced that the company through its joint venture company Industrial Energy (IEL), synchronised the second 67.5 megawatts (MW) unit of its 202.5 MW IEL Kalinganagar project. With this, Tata Powers total generation capacity has increased to 9,100 MW from previous 9,036 MW, the company said in a statement.

Sun Pharmaceutical Industries (Sun Pharma) and MSD have decided to wind down and terminate the joint venture established in 2011 to develop, manufacture and commercialize new combinations and formulations of innovative, branded generics for emerging markets outside India due to changes in the strategic priorities of both the parent companies. The two companies no longer wish to make further investments in the joint venture, Sun Pharma said in a statement issued after trading hours on Friday, 12 February 2016. There is no material impact of the termination of the joint venture on either standalone or consolidated operations/financial position of the company, Sun Pharma said.

BPCLs net profit jumped 170.08% to Rs 1488.60 crore on 19.38% decline in total income to Rs 46967.67 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 12 February 2016.

Indian Oil Corporation (IOCL) reported net profit of Rs 3056.86 crore in Q3 December 2015 as against net loss of Rs 2636.80 crore in Q3 December 2014. Total income declined 22.1% to Rs 84111.87 crore in Q3 December 2015 over Q3 December 2014. The result hit the market just as trading was about to end on the bourses on Friday, 12 February 2016.

HPCL reported net profit of Rs 1042.26 crore in Q3 December 2015 as against net loss of Rs 325.38 crore in Q3 December 2014. Total income declined 14.84% to Rs 43704.39 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 12 February 2016.

NMDCs net profit fell 58.88% to Rs 655.04 crore on 44.15% decline in total income to Rs 1938.42 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 12 February 2016.

Sun TV Networks net profit rose 0.68% to Rs 215.59 crore on 3.92% growth in revenue to Rs 574.12 crore in Q3 December 2015 over Q3 December 2014. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 2.95% to Rs 440.44 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 12 February 2016.

Sun TV Network said that the Committee appointed by the board of directors examined the issue of buyback of shares and recommended that the board of directors continue the present practice of payment of dividends and not to pursue the buyback of shares for the time being. The board accepted the recommendation, Sun TV said.

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ONGC, Bhel may decline after weak Q3 result
Feb 12,2016

ONGCs net profit fell 63.98% to Rs 1286 crore on 2.28% decline in gross revenue to Rs 18547 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016. There was no subsidy sharing burden on ONGC in Q3 December 2015 as against a subsidy sharing burden of Rs 9458 crore in Q3 December 2014 towards sharing of under recoveries of downstream oil marketing companies. ONGC said it is awaiting a letter from the Government in this regard. ONGC said it has assessed the indications of significant impairment as at 31 December 2015 due to fall in crude oil prices in the international market, and accordingly it has tested its cash generating units for the impairment. As a result, an amount of Rs 3994 crore has been provided as impairment loss and shown as exceptional items in the companys profit & loss statement in Q3 December 2015.

Bharat Heavy Electricals (Bhel) reported net loss of Rs 1101.99 crore in Q3 December 2015 compared with net profit of Rs 212.60 crore in Q3 December 2014. Total income declined 15.07% to Rs 5496.13 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016.

Coal Indias consolidated net profit rose 13.96% to Rs 3718.25 crore on 5.05% growth in total income to Rs 20953.35 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016.

Among quarterly results of prominent companies, NMDC, Sun Pharmaceutical Industries, Adani Ports and Special Economic Zone, Mahindra & Mahindra (M&M) and BPCL are scheduled to announce their Q3 December 2015 results today, 12 February 2016.

Hero MotoCorps net profit rose 36.51% to Rs 795.81 crore on 6.43% increase in total income to Rs 7378.95 crore in Q3 December 2015 over Q3 December 2014. The result hit the market just as trading was about to end on the bourses yesterday, 11 February 2016. Hero MotoCorps Chairman, Managing Director and Chief Executive Officer Pawan Munjal said that the domestic two-wheeler market continues to be sluggish. The sentiments are expected to remain subdued for the next couple of quarters, Munjal said. Demand in rural markets has been severely impacted due to two consecutive sub-normal monsoons, he said. A positive turn-around towards the second half of the next fiscal is expected in the event of a good monsoon and change in sentiments in the rural market, Munjal said.

Wockhardts consolidated net profit fell 82.4% to Rs 60.97 crore on 18.9% fall in total income to Rs 1116.58 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016.

National Aluminium Companys net profit fell 62.3% to Rs 133.49 crore on 11.9% fall in total income to Rs 1812.73 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016.

Shares of TeamLease Services will make debut on the bourses today, 12 February 2016. The issue price has been set at Rs 850 per share, at the top end of the Rs 785 to Rs 850 per share price band of the initial public offer (IPO). The IPO was subscribed 66.02 times.

Essar Shipping reported consolidated net loss of Rs 109.63 crore in Q3 December 2015 compared with net loss of Rs 115.18 crore in Q3 December 2014. Total income from operations declined 10.57% to Rs 433.53 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 11 February 2016

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Cipla in focus after declaring flat Q3 result
Feb 11,2016

Ciplas consolidated net profit rose 4.7% to Rs 343 crore on 12.3% growth in income from operations to Rs 3107 crore in Q3 December 2015 over Q3 December 2014. Earnings before interest, taxation, depreciation and amortization (EBITDA) declined 18.1% to Rs 454 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 10 February 2016. The results for the quarter include the relevant results of the companys subsidiaries from the date they became subsidiary of the company and therefore not comparable with the results of corresponding previous period, Cipla said.

ACCs consolidated net profit fell 68.7% to Rs 102 crore on 3% growth in net sales to Rs 2846 crore in Q4 December 2015 over Q4 December 2014. The result was announced after market hours yesterday, 10 February 2016. ACCs bottom line during the quarter was impacted due to base effect. There was a tax expense of Rs 26.33 crore in Q4 December 2015 as against a tax reversal of Rs 184.35 crore in Q4 December 2014. The companys operating earnings before interest, taxation, depreciation and amortization (EBITDA) rose 8.9% to Rs 280 crore in Q4 December 2015 over Q4 December 2014.

ACC said that it is optimistic about the outlook for the construction and building materials sector - more particularly for cement and concrete in the next few years, given the governments continued focus on infrastructure development and initiatives such as housing for all, smart cities and concrete roads.

Ambuja Cements net profit fell 66.5% to Rs 109.96 crore on 1% fall in net sales to Rs 2355.81 crore in Q4 December 2015 over Q4 December 2014. The result was announced after market hours yesterday, 10 February 2016. The company said that long term outlook for cement demand remains positive considering governments focus on housing, concrete roads, smart cities and infrastructure development.

TCS after market hours yesterday, 10 February 2016, announced the successful implementation of TCS BaNCS for Corporate Actions at Colonial First State (CFS), platform provider of Commonwealth Bank of Australia (CBA).

Dr Reddys Laboratories said that a meeting of the board of directors of the company will be held on 17 February 2016, to consider the buyback of equity shares of the company. The announcement was made before market hours today, 11 February 2016.

Among quarterly results of prominent companies, Coal India, State Bank of India, ONGC, Hero MotoCorp, Tata Motors, and Bharat Heavy Electricals are scheduled to announce their Q3 December 2015 results today, 11 February 2016.

Tata Motors after market hours yesterday, 10 February 2016 announced that the groups global wholesales including Jaguar Land Rover (JLR) rose 16% to 93,355 units in January 2016 over January 2015.

Petronet LNGs net profit rose 9.9% to Rs 178.39 crore on 56.5% fall in net sales to Rs 4821.85 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 10 February 2016.

Engineers Indias net profit rose 3.6% to Rs 62.08 crore on 4.42% decline in total income to Rs 429.97 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 10 February 2016.

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