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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

UltraTech Cement announces Q4 results today, 25 April 2016.

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

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

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

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

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

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

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

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

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

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

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

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RIL in spotlight ahead of Q4 earnings
Apr 22,2016

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

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

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

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

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

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

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

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

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

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

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

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Wipro in spotlight after announcing Q4 results
Apr 21,2016

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

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

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

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

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

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

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

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

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

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

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

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TCS in spotlight after announcing Q4 results
Apr 20,2016

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Infosys may edge higher after announcing strong Q4 results
Apr 18,2016

Shares of IT major Infosys may edge higher after the company forecast revenue growth for the year ending 31 March 2017 (FY 2017) that would exceed growth for the software services industry. At the time of announcement of Q4 March 2016 results on Friday, 15 April 2016, when the stock market was closed for a holiday, Infosys said that it expects revenue growth of 11.8%-13.8% for FY 2017 in US dollar terms. In constant currency terms, the company has forecast 11.5%-13.5% growth in revenue for FY 2017. Infosys revenue growth forecast is higher than 10% to 12% growth for the IT outsourcing sector for FY 2017 forecast by IT industry body National Association of Software and Services Companies (Nasscom) in February this year. Infosys has forecast 12.7%-14.7% growth in revenue in rupee terms for FY 2017 based on rupee dollar exchange rate of 66.26 as on 31 March 2016. The rupee dollar exchange rate stood at 66.64 on 13 April 2016.

After the strong revenue growth guidance for FY 2017, Infosys ADR jumped 8.4% to settle at $20 on the New York Stock Exchange on Friday, 15 April 2017. Infosys consolidated net profit rose 3.8% to Rs 3597 crore on 4.1% growth in revenue to Rs 16550 crore in Q4 March 2016 over Q3 December 2015. The results are as per International Financial Reporting Standards (IFRS).

Infosys said that the employee attrition reduced further in Q4 March 2016. On annualized basis, the employee attrition rate declined to 17.3% in Q4 March 2016 from 18.1% in Q3 December 2015.

TCS announced on Saturday, 16 April 2016 that it had received a jury verdict in a recently completed jury trial in a lawsuit filed by Epic Systems in the court of Western District Madison, Wisconsin. It is expected that the trial judgement will be entered in the case in the next six to eight weeks, following which the parties can file an appeal within 30 days after the judgement is filed, TCS said. The jurys verdict on liability and damages was unexpected as the company believes they are unsupported by the evidence presented during the trial, TCS said. The company added that it did not misuse or derive any benefit from downloaded documents from Epic Systems user-web portal. TCS said it plans to defend its position vigorously in appeals to higher courts. The company said it appreciates the trial judges announcement from the bench that he is almost certain he will reduce the damages award. The jury verdict will not have any impact on the companys Q4 March 2016 and FY 2016 financial results, TCS said. The company is set to announce its Q4 March 2016 results today, 18 April 2016.

Reliance Industries (RIL) announced before market hours today, 18 April 2016 that the SEZ refinery of the company is planning to shut down one crude distillation unit for routine maintenance & inspection activities from 1 May 2016, for about 3 weeks. The other three crude distillation units including all secondary processing units are expected to operate at normal throughput at Jamnagar refinery complex, RIL said. The company said it does not anticipate any impact on its commercial commitments.

Bharat Heavy Electricals (Bhel) announced that it has bagged an order worth Rs 282 crore from NTPC for setting up a 50 megawatts (MW) solar photovoltaic (SPV) power plant in Mandsaur in Madhya Pradesh on engineering, procurement and construction (EPC) basis. The project is scheduled for completion in twelve months. The announcement was made on Thursday, 14 April 2016, when the stock market was closed for a holiday.

ITC will be in focus after the company on Friday, 15 April 2016, announced that consequent upon a High Court order passed in favour of the company, the company will soon resume manufacture of cigarettes in its factories. Early this month, ITC announced temporary closure of manufacturing operations at all its cigarette factories in India with effect from 1 April 2016 due to lack of clarity on the quantum of mandatory pictorial health warning on cigarette packages.

Stocks of public sector oil marketing companies (PSU OMCs) will be in focus after announcing reduction in prices of both petrol and diesel with effect from the midnight of 15/16 April 2016. Indian Oil Corporation (IOCL) has cut the retail-selling price of petrol by 74 paise per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of petrol in Delhi stands at Rs 61.13 a litre. The price of diesel has been cut by Rs 1.30 per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of diesel in Delhi stands at Rs 48.01 a litre.

Stocks of PSU OMCs, oil exploration and production (E&P) companies and aviation firms will be in spotlight on slump in crude oil prices. Brent for June settlement was currently down $1.92 a barrel at $41.18 a barrel after talks over the weekend between the worlds largest oil producing countries in Doha failed to produce a deal to freeze output aimed at boosting sagging crude prices. The contract had declined 74 cents or 1.68% to settle at $43.10 a barrel during the previous trading session. The contract had declined 74 cents or 1.68% to settle at $43.10 a barrel during the previous trading session.

Mahindra & Mahindra (M&M) expects vehicle prices to rise as the automobile industry adheres to various safety and emission norms announced by the regulator. According to M&M, complying with safety norms would mean an average cost of Rs 25,000 to Rs 30,000 per vehicle and complying with BSVI norms would increase the price by around Rs 1.50 lakh (approximate cost increase of Rs 90,000 plus taxes) based on current technologies for complying with these norms. M&Ms Executive Director and Group President, Auto and Farm Equipment Sectors & Member of the Group Executive Board Dr. Pawan Goenka said in an interaction with auto industry analysts on 13 April 2016 that the capex requirement for M&M for BSVI compliance would be around Rs 500 crore. There will be additional capex to be incurred at the vendors end, he said.

Goenka said that the company is working on a range of gasoline engine options. The company intends to launch gasoline options for its sports utility vehicles Scorpio and XUV500 within the next 12 months. KUV100 has received good response from customers. Currently, KUV100 has a waiting period of 6-8 weeks. The gasoline variant of KUV100 has received good response and contributes to about 45% of KUV100 sales.

Goenka expects the ongoing momentum in M&Ms exports growth to continue with the neighboring markets as well as Africa and South American markets.

With regard to the tractors business, Goenka said that the company is very well poised to take advantage of the expected growth in the tractors industry in India with a strong launch of its Yuvo series (5 tractor models) in the mainstream segment of 30-45 hp which accounts for 80% of the tractors market size. The Yuvo has been developed after significant understanding of customer insights, he said.

National Aluminium Company (Nalco) announced that a meeting of the board of directors of the company will be held on 22 April 2016, inter alia, to consider the proposal for alteration in Articles of Association of the company and buyback of the fully paid-up equity shares of the company. The announcement was made after market hours on Wednesday, 13 April 2016.

JK Tyre & Industries announced that it has completed the acquisition of Cavendish Industries (Cavendish) from its existing shareholder Kesoram Industries and the deal stands finally concluded. JK Tyre has acquired 64% equity shares of Rs 10 each (fully paid) of Cavendish. Cavendish has thus become a subsidiary of the company. The remaining equity shares of Cavendish have been acquired by associates/group companies of JK Tyre & Industries, the company said. The announcement was made after market hours on Wednesday, 13 April 2016.

International Paper APPM announced that there would be annual outage from 15 April 2016 to 26 April 2016 (both days inclusive) at the companys manufacturing facility located in Kadiyam, East Godavari District, Andhra Pradesh. The announcement was made after market hours on Wednesday, 13 April 2016.

Bal Pharma announced that its board of directors at a meeting held on 13 April 2016, inter alia, approved the allotment of 13 lakh equity shares of Rs 10 each with a premium of Rs 52 per share of the company on preferential allotment basis to investors upon conversion of equivalent number of warrants. The announcement was made after market hours on Wednesday, 13 April 2016.

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Infosys may edge higher after strong revenue growth guidance
Apr 18,2016

Shares of IT major Infosys may edge higher after the company forecast revenue growth for the year ending 31 March 2017 (FY 2017) that would exceed growth for the software services industry. At the time of announcement of Q4 March 2016 results on Friday, 15 April 2016, when the stock market was closed for a holiday, Infosys said that it expects revenue growth of 11.8%-13.8% for FY 2017 in US dollar terms. In constant currency terms, the company has forecast 11.5%-13.5% growth in revenue for FY 2017. Infosys revenue growth forecast is higher than 10% to 12% growth for the IT outsourcing sector for FY 2017 forecast by IT industry body National Association of Software and Services Companies (Nasscom) in February this year. Infosys has forecast 12.7%-14.7% growth in revenue in rupee terms for FY 2017 based on rupee dollar exchange rate of 66.26 as on 31 March 2016. The rupee dollar exchange rate stood at 66.64 on 13 April 2016.

After the strong revenue growth guidance for FY 2017, Infosys ADR jumped 8.4% to settle at $20 on the New York Stock Exchange on Friday, 15 April 2016. Infosys consolidated net profit rose 3.8% to Rs 3597 crore on 4.1% growth in revenue to Rs 16550 crore in Q4 March 2016 over Q3 December 2015. The results are as per International Financial Reporting Standards (IFRS).

Infosys said that the employee attrition reduced further in Q4 March 2016. On annualized basis, the employee attrition rate declined to 17.3% in Q4 March 2016 from 18.1% in Q3 December 2015.

TCS announced on Saturday, 16 April 2016 that it had received a jury verdict in a recently completed jury trial in a lawsuit filed by Epic Systems in the court of Western District Madison, Wisconsin. It is expected that the trial judgement will be entered in the case in the next six to eight weeks, following which the parties can file an appeal within 30 days after the judgement is filed, TCS said. The jurys verdict on liability and damages was unexpected as the company believes they are unsupported by the evidence presented during the trial, TCS said. The company added that it did not misuse or derive any benefit from downloaded documents from Epic Systems user-web portal. TCS said it plans to defend its position vigorously in appeals to higher courts. The company said it appreciates the trial judges announcement from the bench that he is almost certain he will reduce the damages award. The jury verdict will not have any impact on the companys Q4 March 2016 and FY 2016 financial results, TCS said. The company is set to announce its Q4 March 2016 results today, 18 April 2016.

Reliance Industries (RIL) announced before market hours today, 18 April 2016 that the SEZ refinery of the company is planning to shut down one crude distillation unit for routine maintenance & inspection activities from 1 May 2016, for about 3 weeks. The other three crude distillation units including all secondary processing units are expected to operate at normal throughput at Jamnagar refinery complex, RIL said. The company said it does not anticipate any impact on its commercial commitments.

Bharat Heavy Electricals (Bhel) announced that it has bagged an order worth Rs 282 crore from NTPC for setting up a 50 megawatts (MW) solar photovoltaic (SPV) power plant in Mandsaur in Madhya Pradesh on engineering, procurement and construction (EPC) basis. The project is scheduled for completion in twelve months. The announcement was made on Thursday, 14 April 2016, when the stock market was closed for a holiday.

ITC will be in focus after the company on Friday, 15 April 2016, announced that consequent upon a High Court order passed in favour of the company, the company will soon resume manufacture of cigarettes in its factories. Early this month, ITC announced temporary closure of manufacturing operations at all its cigarette factories in India with effect from 1 April 2016 due to lack of clarity on the quantum of mandatory pictorial health warning on cigarette packages.

Stocks of public sector oil marketing companies (PSU OMCs) will be in focus after announcing reduction in prices of both petrol and diesel with effect from the midnight of 15/16 April 2016. Indian Oil Corporation (IOCL) has cut the retail-selling price of petrol by 74 paise per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of petrol in Delhi stands at Rs 61.13 a litre. The price of diesel has been cut by Rs 1.30 per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of diesel in Delhi stands at Rs 48.01 a litre.

Stocks of PSU OMCs, oil exploration and production (E&P) companies and aviation firms will be in spotlight on slump in crude oil prices. Brent for June settlement was currently down $1.92 a barrel at $41.18 a barrel after talks over the weekend between the worlds largest oil producing countries in Doha failed to produce a deal to freeze output aimed at boosting sagging crude prices. The contract had declined 74 cents or 1.68% to settle at $43.10 a barrel during the previous trading session.

Mahindra & Mahindra (M&M) expects vehicle prices to rise as the automobile industry adheres to various safety and emission norms announced by the regulator. According to M&M, complying with safety norms would mean an average cost of Rs 25,000 to Rs 30,000 per vehicle and complying with BSVI norms would increase the price by around Rs 1.50 lakh per vehicle (approximate cost increase of Rs 90,000 plus taxes) based on current technologies for complying with these norms. M&Ms Executive Director and Group President, Auto and Farm Equipment Sectors & Member of the Group Executive Board Dr. Pawan Goenka said in an interaction with auto industry analysts on 13 April 2016 that the capex requirement for M&M for BSVI compliance would be around Rs 500 crore. There will be additional capex to be incurred at the vendors end, he said.

Goenka said that the company is working on a range of gasoline engine options. The company intends to launch gasoline options for its sports utility vehicles Scorpio and XUV500 within the next 12 months. KUV100 has received good response from customers. Currently, KUV100 has a waiting period of 6-8 weeks. The gasoline variant of KUV100 has received good response and contributes to about 45% of KUV100 sales.

Goenka expects the ongoing momentum in M&Ms exports growth to continue with the neighboring markets as well as Africa and South American markets.

With regard to the tractors business, Goenka said that the company is very well poised to take advantage of the expected growth in the tractors industry in India with a strong launch of its Yuvo series (5 tractor models) in the mainstream segment of 30-45 hp which accounts for 80% of the tractors market size. The Yuvo has been developed after significant understanding of customer insights, he said.

National Aluminium Company (Nalco) announced that a meeting of the board of directors of the company will be held on 22 April 2016, inter alia, to consider the proposal for alteration in Articles of Association of the company and buyback of the fully paid-up equity shares of the company. The announcement was made after market hours on Wednesday, 13 April 2016.

JK Tyre & Industries announced that it has completed the acquisition of Cavendish Industries (Cavendish) from its existing shareholder Kesoram Industries and the deal stands finally concluded. JK Tyre has acquired 64% equity shares of Rs 10 each (fully paid) of Cavendish. Cavendish has thus become a subsidiary of the company. The remaining equity shares of Cavendish have been acquired by associates/group companies of JK Tyre & Industries, the company said. The announcement was made after market hours on Wednesday, 13 April 2016.

International Paper APPM announced that there would be annual outage from 15 April 2016 to 26 April 2016 (both days inclusive) at the companys manufacturing facility located in Kadiyam, East Godavari District, Andhra Pradesh. The announcement was made after market hours on Wednesday, 13 April 2016.

Bal Pharma announced that its board of directors at a meeting held on 13 April 2016, inter alia, approved the allotment of 13 lakh equity shares of Rs 10 each with a premium of Rs 52 per share of the company on preferential allotment basis to investors upon conversion of equivalent number of warrants. The announcement was made after market hours on Wednesday, 13 April 2016.

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L&T in focus as L&T Infotech files fresh papers with Sebi for IPO
Apr 13,2016

L&T announced that its subsidiary Larsen & Toubro Infotech (L&T Infotech) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) yesterday, 12 April 2016, in order to undertake an initial public offer (IPO) of its equity shares of face value of Re 1 each. The offer comprises of an offer for sale (OFS) of up to 1.75 crore equity shares by L&T. The announcement was made after market hours yesterday, 12 April 2016.

Mahindra & Mahindra (M&M) announced that credit rating agency ICRA has reaffirmed its rating of [ICRA] AAA (stable) and [ICRA] A1+ for non-convertible debenture programme and bank facilities of the company. The announcement was made after market hours yesterday, 12 April 2016.

Kaveri Seed Company announced that it has opened a new plant at Karimnagar district in Telangana. This plant has an installed capacity of 10 to 20 tonnes (paddy/maize) of production per hour based on the crop. The new plant is scheduled to commence operations in the first week of May 2016. G. V. Bhaskar Rao, Managing Director of Kaveri Seed said that the new plant will enhance the existing capacity of seed process to meet the growing demand from the markets. The announcement was made after market hours yesterday, 12 April 2016.

Lux Industries board of directors at its meeting held yesterday, 12 April 2016, approved 5-for-1 stock split. The announcement was made after market hours yesterday, 12 April 2016.

The Reserve Bank of India (RBI) yesterday, 12 April 2016, notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in JKumar Infra Projects and Inox Leisure has crossed the permissible limit. Therefore, no further purchase of shares of these companies would be allowed through stock exchanges in India on behalf of FII/RFPIs.

Further, RBI notified that the foreign shareholding by Non-Resident Indians (NRIs) in Southern Ispat & Energy has reached the trigger limit. Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of RBI.

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Tata Steel in focus on plan to sell part of UK business to Greybull Capital
Apr 12,2016

Tata Steel said that Tata Steel UK announced the signing of an agreement to sell its long products Europe business to the family investment office, Greybull Capital. The sale for a nominal consideration, would be in exchange for Greybull Capital taking on the whole of the business, including assets and relevant liabilities, and securing an appropriate funding package, Tata Steel said. The deal would be completed once a number of outstanding conditions have been resolved, including transfer of contracts, certain government approvals and the satisfactory completion of financing arrangements, it said. The sale covers several UK-based assets including the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Wokington, a design consultancy in York, and associated distribution facilities, as well as a mill in northern France, Tata Steel said. The announcement was made after market hours yesterday, 11 April 2016.

Dr Reddys Laboratories announced buyback offer after trading hours yesterday, 11 April 2016. The company has set aside a maximum amount of Rs 1569.41 crore for the buyback offer, which is 14.9% of the total paid up share capital and free reserves of the company as on 31 March 2015. The maximum buyback price is fixed at Rs 3,500 per equity share. The number of equity shares bought back will not exceed 25% of the total paid up equity capital of the company.

At the maximum buyback price and for maximum buyback size, the indicative maximum number of equity shares bought back would be 44.84 lakh equity shares. If the equity shares are bought back at a price below the maximum buyback price, the actual number of equity shares bought back could exceed the indicative maximum buyback shares but will always be subject to the maximum buyback size.

Further, the company will utilize at least 50% of the amount earmarked as the maximum buyback size for the buyback i.e. Rs 784.70 crore. Based on the minimum buyback size and the maximum buyback price, the company will purchase an indicative minimum of 22.42 lakh shares, Dr. Reddys Laboratories said.

BPCL announced that its board of directors at a meeting held yesterday, 11 April 2016, approved the proposal to acquire Petronet Indias (PIL) 26% equity stake in Petronet CCK (PCCKL) at a total cost of Rs 78.60 crore. PCCKL is a subsidiary company promoted by BPCL and PIL. PCCKL owns and operates a petroleum product pipeline from Kochi to Karur in Tamil Nadu via Coimbatore for transportation of petroleum products. Currently, BPCL has a stake of 73.96% in the equity capital of PCCKL and PIL has a stake of 26% while the balance is held by financial institutions (Fis). Post completion of acquisition, BPCLs holding in PCCKL will go up to 99.96%. The announcement was made after market hours yesterday, 11 April 2016.

Separately, BPCL announced after market hours yesterday, 11 April 2016 that its board of directors approved the proposal to seek shareholders consent by way of postal ballot for increasing the ceiling of investment by foreign institutional investors in the company by up to 49% from 24% in one or more tranches subject to regulatory authorities approval.

Adani Ports and Special Economic Zone (APSEZ) announced that it has raised Rs 500 crore by allotment of 5,000 rated, listed, secured, taxable, redeemable, non-convertible debentures (NCDs) of face value of Rs 10 lakh each on private placement basis. The NCDs will be listed on the wholesale debt market segment of BSE. The announcement was made after market hours yesterday, 11 April 2016.

Mahindra & Mahindra (M&M) announced that credit rating agency CARE has reaffirmed its CARE AAA and CARE A1+ ratings assigned to the long term & short term bank facilities of the company. The announcement was made after market hours yesterday, 11 April 2016.

Bharti Airtel announced that its subsidiary Airtel M Commerce Services (AMSL) has been granted payments bank license from Reserve Bank of India yesterday, 11 April 2016. The announcement was made after market hours yesterday, 11 April 2016.

TTK Prestige announced that its wholly owned UK subsidiary TTK British Holdings entered into an agreement for acquisition of branded kitchenware business in UK (target). The target is a branded player with a century old existence, TTK Prestige said. The names of the brands involved will be shared on completion of acquisition, it added. The target has experienced marketing, sales and distribution strengths, TTK Prestige said. The target does not have any manufacturing base but outsources all of its requirements from third party manufacturers, TTK Prestige said. The target company has sales of 18 million GBP per annum with double-digit earnings before interest, taxation, depreciation and amortization (EBITDA) margin, TTK Prestige said. This business offers potential for a long-term global presence for TTK Prestige in UK and Europe through its subsidiary, the company said. TTK Prestige, over the medium term, plans to leverage its domestic manufacturing capacities to cater to these branded segments, it said. The consolidated financials are expected to result in superior turnover, profits and return on capital employed (ROCE) for TTK Prestige, the company said in a statement. The announcement was made after market hours yesterday, 11 April 2016.

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Bharti Airtel will be watched after acquiring 4G spectrum from Aircel
Apr 11,2016

Telecom major Bharti Airtel said it will pay Rs 3500 crore to acquire rights to use 4G spectrum of Aircel in eight telecom circles. Bharti Airtel and its subsidiary, Bharti Hexacom, have on 8 April 2016 entered into a definitive agreements with Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular (together Aircel) to acquire rights to use 20 megahertz (MHz) 2300 Band 4G TD spectrum for eight circles namely, Tamil Nadu (including Chennai); Bihar, Jammu & Kashmir, West Bengal, Assam, North East, Andhra Pradesh and Orissa at an aggregate consideration of Rs 3500 crore. The announcement was made after market hours on Friday, 8 April 2016.

The spectrum was allotted to Aircel and Dishnet by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) and is valid upto 20 September 2030. The transfer of the right to use for the circles of Andhra Pradesh and Orissa is subject to the revision of spectrum caps with the upcoming auction to be conducted by DoT. With the above acquisition, Bharti Airtel will become pan India 4G operator. The closing of the transaction is subject to satisfaction of the standard conditions as are normal to such transactions, Bharti Airtel said in a statement.

Tata Steel announced after market hours on Friday, 8 April 2016, that it completed the year ended March 2016 with an overall increase in production and sales volumes. The year registered its best ever performance in hot metal, crude steel, saleable steel production and total sales. Hot Metal production rose 1.42% to 27.14 lakh tonnes in Q4 March 2016 over Q4 March 2015. Crude Steel production rose 4.88% to 25.60 lakh tonnes in Q4 March 2016 over Q4 March 2015. Saleable Steel production rose 6.57% to 25.46 lakh tonnes in Q4 March 2016 over Q4 March 2015.

Infosys will be watched. Aberdeen Asset Management Asia has reduced its shareholding in Infosys by selling 56.26 lakh shares, or 0.24% equity, in the IT major on 7 April 2016. Aberdeen Asset Management Asia now holds 7.01 crore shares, or 3.04% stake in Infosys. The disclosure was made after market hours on Friday, 8 April 2016.

Sun Pharmaceutical Industries announced on Saturday, 9 April 2016, that one of its wholly owned subsidiaries has received approval from US Food and Drug Administration (USFDA) for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.

Rupa & Company announced after market hours on Friday, 8 April 2016, that its wholly-owned subsidiary, Oban Fashions, on 7 April 2016, entered into a definitive license agreement with French Connection to develop, manufacture and sell innerwear and related products with the brand name FCUK in India.

Bannari Amman Sugars announced on Saturday, 9 April 2016, that its board will meet on 25 April 2016 to consider a proposal to take over Madras Sugars by way of amalgamation.

Narayana Hrudayalaya announced on Saturday, 9 April 2016, that it commenced operations at its newest hospital Shri Mata Vaishno Devi Narayana Superspeciality Hospital in Katra at Udhampur district of Jammu and Kashmir on 8 April 2016.

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HUL in focus after completing acquisition of hair oil brand Indulekha
Apr 08,2016

Hindustan Unilever (HUL) announced that it has completed the acquisition of Masons Group flagship hair oil brand Indulekha. The announcement was made after market hours yesterday, 7 April 2016. It may be recalled that in December 2015, HUL had announced signing an agreement with Masons Group for acquisition of its flagship Indulekha brand.

State Bank of India and ICICI Bank yesterday, 7 April 2016 reportedly announced reduction in home loan interest rates following implementation of a new interest rate calculation regime mandated by RBI. SBI cut its lending rate for home loans by 0.20% at 9.4% for women customers and at a rate 0.25% to 9.45% for others under the Marginal Cost of Funds based Lending Rate (MCLR) system effective retrospectively from 1 April 2016. ICICI Banks minimum home loan rates are also at par with SBI as both the 1-year MCLR and the spread over it are same, reports indicated. However ICICI Banks effective rate of interest will reportedly go up to 9.65% for loans above Rs 5 crore taken by women borrowers under floating interest rate.

National Buildings Construction Corporation (NBCC) said that the company has secured a total business of about Rs 226.96 crore in the month of March 2016 under the Project Management Consultancy (PMC) segment and the total work secured during the financial year ended 31 March 2016 amounted to about Rs 17516.53 crore. The announcement was made after market hours yesterday, 7 April 2016.

Tata Power announced after trading hours yesterday, 7 April 2016, that the Appellate Tribunal for Electricity (APTEL) has decided against providing compensatory tariff to the companys 100% subsidiary, Coastal Gujarat Power (CGPL). CGPL controls the 4,000 MW Ultra Mega Power Project (UMPP) at Mundra, Gujarat.

APTEL, while pronouncing the order, also remarked that Central Electricity Regulatory Commission (CERC) has no power to grant compensatory tariffs. However, APTEL, has thrown back the case to CERC. It has asked the commission to decide the tariff as per power purchase agreements (PPAs) and under force majeure or change in law. CERC has also been directed to conclude the exercise as expeditiously as possible, but certainly within a period of 3 months from 7 April 2016.

The case was being fought in APTEL between Tata Power and Adani Power with state utilities of Gujarat, Rajasthan, Maharashtra, Punjab and Haryana. The three-year-old tariff pertains to pass through of cost escalation due to change in imported coal prices and regulations in the Indonesian coal market. Both Tata Mundra UMPP and Adani power plant run on imported coal.

In an order dated February 2014, CERC decided a compensatory tariff to be paid by the states procuring power to the two power companies with effect from the commissioning date of the units. The compensatory tariff was over and above the tariff agreed in the power purchase agreement.

Tata Powers Mundra UMPP in Mundra was awarded compensatory tariff at 52 paise per unit over the remaining life of the project.

Indian Oil Corporation (IOC) will be watched. Media reports suggested that IOC is looking at buying equity stake in Nagarjuna Groups six million tonnes a year Cuddalore refinery in Tamil Nadu. IOC, however, clarified after trading hours yesterday, 7 April 2016, that there is no such proposal under consideration by the company at present and the news item is speculative in nature.

Separately, Nagarjuna Oil Refinery clarified after trading hours yesterday, 7 April 2016, that various prospective investors, including public sector companies such as IOC have sought information on the project. These prospective investors have been provided with the information from time to time, it added.

Simplex Projects said it sold 16.31 lakh shares, or 51.21% equity, in its wholly-owned subsidiary, Simpark Infrastructure on 31 March 2016. The announcement was made after trading hours yesterday, 7 April 2016.

Zee Media Corporation (ZMCL) announced after trading hours yesterday, 7 April 2016, that Rohit Gandhi who is heading ZMCLs English News Channel - WION as Editor-in-chief, will additionally take over the role of Editor-in-Chief of DNA, its leading English mainline daily. Additionally, Shreyasi Goenka, who has been mentoring the content at DNA for a while, will now take the responsibility of Content Advisor and will guide all functions of DNA. Uday Nirgudkar who has been heading DNA along with Zee 24 Taas, will now continue to lead Zee 24 Taas as its Business Head. The new appointments will come into effect from 7 April 2016. All editorial functions will henceforth report into Rohit Gandhi.

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PSU OMCs, telecom stocks in focus
Apr 07,2016

Shares of PSU OMCs Indian Oil Corporation (IOCL), BPCL and HPCL may edge higher after the Union Cabinet decided to give oil PSUs the freedom to evolve their own policies on import of crude oil. This measure will increase the operational and commercial flexibility of oil PSUs and enable them to adopt the most effective procurement practices for import of crude oil, according to a government statement. The announcement hit the market after trading hours yesterday, 6 April 2016.

Telecom stocks will be in focus after the Union Cabinet yesterday, 6 April 2016, approved the modifications in the policy for liberalisation of administratively allotted spectrum where market determined prices are not available. This will facilitate optimal utilisation of spectrum by introducing new technologies and sharing and trading of spectrum. The most recent recommended reserve price will be taken as the provisional price for liberalisation of administratively allocated spectrum where auction determined price is not available. Subsequent to the completion of the ensuing auction and with the availability of auction-determined price, the provisional price already charged will be adjusted with the auction-determined price with effect from the date of liberalisation on pro-rata basis. The announcement of the modifications in the policy for liberalisation of administratively allotted spectrum hit the market after trading hours yesterday, 6 April 2016.

Maruti Suzuki India after market hours yesterday, 6 April 2016, announced that it has introduced the automatic transmission option for the Zeta petrol variant of its premium hatchback Baleno. The Baleno Zeta (automatic CVT) petrol variant is priced at Rs 7.47 lakh ex-showroom Delhi. With this automatic transmission options are available on Delta and Zeta trim of Baleno. Maruti said it has sold over 44,000 Baleno cars through its premium retail channel NEXA across India. The model has pending orders for 55,000 units. Baleno is also the first model by Maruti Suzuki to be exported to Japan. Going forward Maruti Suzuki plans to export the model to more than 100 countries from India.

Sun Pharmaceutical Industries (Sun Pharma) will be in spotlight after the ratings agency CARE has withdrawn the ratings assigned to the non-convertible debenture (NCD) issue and bank facilities of the company with immediate effect at the request of the company. Sun Pharma has fully repaid the amount under the NCD issue and there is no amount outstanding under the issue as on date, CARE said. The ratings agency said it has also received no objection certificates from the banks for withdrawal of ratings based on which the ratings assigned to the bank facilities have been withdrawn. Sun Pharma made the announcement after market hours yesterday, 6 April 2016.

ABB India will be watched. ABB India and Welspun Energy have together installed about 700 megawatts (MW) of solar photovoltaic projects across several states in India like Punjab, Rajasthan, Gujarat, Maharashtra, Karnataka and Tamil Nadu. This includes a key project of 52 MW for Maharashtra State Generation Company at Baramati, which was the first ever PPP (public-private partnership) project in the industry, in the country. The announcement was made after market hours yesterday, 6 April 2016.

Religare Enterprises said that it has raised Rs 425 crore through issue of zero coupon unsecured unlisted non-convertible debentures (NCDs) with 12% yield on private placement basis. The allotment was made on 6 April 2016. The NCDs have maturity of 3 years from the date of allotment. The announcement was made after market hours yesterday, 6 April 2016.

Nava Bharat Ventures said it entered into an agreement for renewal of conversion arrangement of chrome ore into ferro chrome, with Tata Steel for a period of 4 years commencing from April 2016. The company will produce up to 70,000 MT of high carbon ferro chrome per annum at its Odisha ferro alloy plant. The announcement was made after market hours yesterday, 6 April 2016.

Brigade Enterprises announced its Mysuru Mane Habba event from 8th to 10th April 2016 at the Grand Mercure Mysuru Hotel in Mysuru. The three-day event will showcase the companys 30+ offerings across South India. The event will showcase the companys residential properties under various stages of development. It will give prospective buyers an opportunity to take a pick from a wide array of properties at different price points and avail mega deals on these three days. Price offers range from 1 lakh to 25 lakhs off on the Brigade properties for these three days only. Buyers booking properties during the three-day event would also enjoy assured gold vouchers on every booking. The announcement was made after market hours yesterday, 6 April 2016.

Diamond Power Infrastructure will be watched. Kotak Mahindra Bank said that its subsidiary, Kotak Mahindra (International) (KMIL), a foreign portfolio investor (FPI), has acquired 38.68 lakh equity shares, or 6.8% equity, of Diamond Power Infrastructure at Rs 23.65 each, aggregating to Rs 9.16 crore. The announcement was made after market hours yesterday, 6 April 2016.

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