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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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ACC, Ambuja Cements in focus ahead of Q4 result
Feb 10,2016

Among quarterly results of prominent companies, ACC and Ambuja Cements are scheduled to announce their Q4 December 2015 results today, 10 February 2016. Cipla is scheduled to announce its Q3 December 2015 results today, 10 February 2015.

TCS will be in focus after the company allayed market concerns about the state of demand in the banking and financial services (BFS) industry vertical by reiterating that the companys business in the BFS vertical continues to grow well, ahead of the overall company growth. On the eve of an event by Nasscom in Mumbai, TCS pointed out that revenue from the BFS industry vertical in calendar year (CY) 2015 grew by 15% year-on-year in constant currency terms. On the other hand, company-wide revenue grew 13.5% on a constant currency revenue basis in CY 2015, representing absolute incremental revenue of $2.025 billion, TCS said. On an organic basis, TCS constant currency revenue addition of $1.85 billion is the highest in the industry in CY 2015, the company said. The announcement was made by the company after market hours yesterday, 9 February 2016.

Aurobindo Pharmas consolidated net profit rose 39.2% to Rs 534.95 crore on 9.2% rise in net sales to Rs 3432.08 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 9 February 2016. During the previous year, on 4 December 2014, the companys USA subsidiary Aurobindo Pharma USA Inc. has acquired Natrol LLC, USA. The consolidated results for Q3 December 2015 includes financial results of operations of Natrol LLC, USA from 4 December 2014. The corresponding figures of the Q3 December 2015 are not comparable, Aurobindo Pharma said.

Britannia Industries consolidated net profit rose 51.2% to Rs 207.59 crore on 10.3% rise in net sales to Rs 2223.64 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 9 February 2016.

Allahabad Bank reported net loss of Rs 486.14 crore in Q3 December 2015 as against net profit of Rs 164.11 crore in Q3 December 2014. Total income declined 6.61% to Rs 5030.19 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 9 February 2016. The banks provisions and contingencies surged 87.7% to Rs 1208.15 crore in Q3 December 2015 over Q3 December 2014. Allahabad Banks gross non-performing assets (NPAs) stood at Rs 9802.10 crore as on 31 December 2015 compared with Rs 7985.75 crore as on 30 September 2015 and Rs 8012.42 crore as on 31 December 2014. The ratio of gross NPAs to gross advances stood at 6.4% as on 31 December 2015 as against 5.26% as on 30 September 2015 and 5.46% as on 31 December 2014. The ratio of net NPAs to net advances stood at 4.23% as on 31 December 2015 as against 3.61% as on 30 September 2015 and 3.89% as on 31 December 2014. The banks non-performing loan provision coverage ratio as on 31 December 2015 stood at 55.4%.

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MindTree in focus after signing service integration agreement with Sandvik
Feb 09,2016

MindTree after market hours yesterday, 8 February 2016 announced that it has been selected by Sandvik, a global engineering group in tooling, materials technology, mining and construction, to foster its IT services integration capabilities.

Among quarterly results of prominent companies, Dr Reddys Laboratories, Hindalco Industries, Punjab National Bank and GAIL (India) are scheduled to announce their Q3 December 2015 results today, 9 February 2016.

Repco Home Finances net profit rose 25.5% to Rs 38.58 crore on 28.31% growth in total income to Rs 225.46 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 8 February 2016.

SRFs consolidated net profit rose 41% to Rs 100.68 crore on 1% decline in total income to Rs 1106.57 crore in Q3 December 2015 over Q3 December 2014. The floods in Chennai in December 2015 affected the regular operations of the companys Manali facility, SRF said. The result was announced after market hours yesterday, 8 February 2016.

Vascon Engineers after market hours yesterday, 8 February 2016 announced that it has sold 66.69 lakh shares comprising 19.07% of share capital of Ascent Hotels (Ascent) to Samhi Hotels for a total consideration of Rs 26.67 crore by share purchase agreement. Samhi Hotels is a privately owned hotel asset company that specializes in development, acquisition and ownership of branded hotels. Vascon has signed a subscription cum shareholders agreement with Ascent to subscribe to 67.26 lakh optionally convertible redeemable debentures (OCRD) amounting to Rs 30.42 crore with an option to convert into equity shares of equal numbers. The OCRDs shall be converted into 96.18 lakh shares as and when Ascent achieves an earnings before interest, taxation and amortization (EBITA) of Rs 70 crore, Vascon Engineers said.

INOX Leisure after market hours yesterday, 8 February 2016 announced that it has terminated the lease deed with the owner and has accordingly discontinued the commercial operations of the multiplex cinema theatre situated at Panchkula, having 3 screens and 652 seats. Further, INOX Leisure said it has commenced the commercial operations of the multiplex cinema theatre, taken on lease basis, and located at Surat, having 4 screens and 819 seats, with effect from 7 February 2016. INOX, along with Satyam Cineplexes is now present in 56 cities with 105 multiplexes, 414 screens and a total seating capacity of 1.07 lakh seats across India, INOX Leisure said.

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Tata Power may decline after reporting weak Q3 results
Feb 08,2016

Tata Power Companys consolidated net profit fell 87.63% to Rs 24.46 crore on 2.98% rise in total income to Rs 9313.19 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 5 February 2016.

Wipro announced before trading hours today, 8 February 2016, that it has won an IT infrastructure transformation contract from the ASSA ABLOY Group, headquartered in Sweden. ASSA ABLOY is the global leader in door opening solutions. As part of the five-year agreement, Wipro will consolidate ASSA ABLOYs existing data centers in the EMEA region and implement a cloud-based service model, which will include IaaS (Infrastructure as a Service) and PaaS (Platform as a Service). The deployment will leverage Wipros BoundaryLess Data Center offering and will provide a full suite of IT infrastructure management services to ASSA ABLOYs global organisation. This solution will bring in a high level of agility, and a consumption-based IT service model powered by an user-friendly service catalog, Wipro said.

Steel stocks may extend gains registered during the previous trading session after the government set floor price or Minimum Import Price (MIP) on import of a total of 173 steel products into the country in a bid to restrict cheap steel imports which has adversely affected the domestic steel industry. As per a notification issued by Directorate General of Foreign Trade on Friday, 5 February 2016, the government has imposed MIP ranging from $341 per tonne to $752 per tonne on various steel products. The MIP will be in place for a period of 6 months.

Bank of India announced on Saturday, 6 February 2016 that a meeting of the Board of Directors of the bank will be held on 11 February 2016, inter-alia to discuss the capital raising plans of the bank.

Rallis India announced after market hours on Friday, 5 February 2016 that the board of directors of the company at its meeting held on 5 February 2016, has approved increase of the companys stake in Metahelix Life Sciences (Metahelix), subsidiary of the company, from 80.51% to 100%. The stake will be acquired for a cash consideration of Rs 73.33 crore. Consequently Metahelix will become a wholly owned subsidiary of the company, on completion of the acquisition of the balance shares in Metahelix. The indicative time of completion of the acquisition is February 2016. Metahelix is a seeds company. Metahelix reported net profit of Rs 16.52 crore on revenue from operations of Rs 309.99 crore for financial year 2014-15.

Rico Auto Industries announced after market hours on Friday, 5 February 2016 that the board of directors of the company at its meeting held on 5 February 2016 accorded its approval for the merger of companys wholly owned subsidiary, Uttarakhand Automotives with the company.

Sobhas consolidated net profit fell 46.58% to Rs 32.10 crore on 41.62% fall in total income to Rs 400.90 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 5 February 2016. Revenue declined on account of higher volume of sales from projects which are yet to meet the revenue recognition threshold. The companys new sales volume rose 22% at 8.06 lakh square feet in Q3 December 2015 over Q3 December 2014. New sales value rose 12% to Rs 478.30 crore in Q3 December 2015 over Q3 December 2014.

Shares of Precision Camshafts will make debut on the bourses today, 8 February 2016. The issue price has been set at Rs 186 per share, at the top end of the Rs 180 to Rs 186 per share price band of the initial public offer (IPO). The IPO was subscribed 1.91 times. Precision Camshafts, promoted by first generation entrepreneurs Yatin Shah and Suhasini Shah, is one of the worlds leading manufacturers of camshafts, a critical engine component in passenger vehicles.

The NSE has notified on Friday, 5 February 2016 that the futures and options contracts will be available for trading on additional seven securities namely; Indo Count Industries, PC Jeweller, Tata Elxsi, Granules India, Cummins India, United Spirits and KPIT Technologies from 26 February 2016.

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Tata Steel may slide after weak Q3 outcome
Feb 05,2016

Tata Steel reported consolidated net loss of Rs 2127 crore in Q3 December 2015 compared with net profit of Rs 157 crore in Q3 December 2014. Turnover fell 16.63% to Rs 28039 crore in Q3 December 2015 over Q3 December 2014. Earnings before interest, taxation, depreciation and amortization (EBITDA) excluding one-offs and profit on sale of investments declined 69.96% to Rs 838 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 4 February 2016.

T V Narendran, Managing Director of Tata Steel India and South East Asia said that steel markets in India have been affected by depressed international steel prices and predatory imports. The quarter saw a sharp decline in steel prices which has impacted the margins, Narendran said.

Koushik Chatterjee, Group Executive Director (Finance and Corporate) said that the current business conditions for the global steel industry are extremely challenging with confluence of elevated imports across regions, currency headwinds and depressed market sentiments affecting Tata Steel Groups profitability. The Tata Steel Group has embarked on significant cost rationalisation program including fixed cost reduction, right sizing of manpower, productivity management and enriching the product mix across all geographies, Chatterjee said. These programs are expected to enhance the sustainable profitability profile of the company, he added. The company has also undertaken significant portfolio restructuring and will continue to pursue the same in the future, Chatterjee said.

Mahindra & Mahindra yesterday, 4 February 2016, announced the launch of its new heavy commercial truck series under the BLAZO brand at the Auto Expo at Greater NOIDA. The BLAZO series of heavy commercial vehicles include multi-axle trucks, tippers and tractor trailers in the range of 25 to 49 ton GVW for the domestic market.

Lupin, Bosch and Tata Power Company among others will declare their Q3 December 2015 results today, 5 February 2016.

Shares of Reliance Infrastructure (RInfra) and Birla Corporation will be in focus. RInfra yesterday, 4 February 2016 announced the signing of Share Purchase Agreement with Birla Corporation in relation to 100% sale of its subsidiary Reliance Cement Company (RCCPL). RCCPL has an integrated cement capacity of 5.08 Mtpa at Maihar, Madhya Pradesh and Kundanganj, Uttar Pradesh and a grinding unit of 0.5 Mtpa at Butibori, Maharashtra. Under this transaction Birla Corporation will acquire the 100% shareholding of RInfra in RCCPL. The transaction is subject to approval of the Competition Commission of India and other applicable regulatory approvals. The announcement was made after market hours yesterday, 4 February 2016.

Mahindra & Mahindra Financial Services said that Mahindra Asset Management Company, a wholly-owned subsidiary of the company has on 4 February 2016 received the approval from the Securities and Exchange Board of India to act as the Asset Management Company to the Mahindra Mutual Fund, set up by the company. The announcement was made before market hours today, 5 February 2016.

Torrent Pharmaceuticals consolidated net profit jumped 189.22% to Rs 483 crore on 28.95% rise in total income to Rs 1590 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 4 February 2016.

Visaka Industries net profit jumped 312.53% to Rs 1.11 crore on 0.57% rise in net total income from operations to Rs 215.37 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 4 February 2016.

JK Lakshmi Cement reported net loss of Rs 3.67 crore in Q3 December 2015 compared with net profit of Rs 18.48 crore in Q3 December 2014. Total income rose 18.01% to Rs 663.99 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 4 February 2016.

INOX Leisures consolidated net profit rose 9.09% to Rs 15.60 crore on 13.61% rise in total income from operations to Rs 341.71 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 4 February 2016.

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Bajaj Auto, Tata Steel in focus ahead of Q3 result
Feb 04,2016

Bajaj Auto and Tata Steel are scheduled to announce their Q3 December 2015 results today, 4 February 2016.

TCS announced after market hours yesterday, 3 February 2016 that Investec India, a part of wealth management giant Investec, has gone live on TCS BaNCS to power its front and back office operations in India.

Shares of public sector oil marketing companies (PSU OMCs), oil exploration and production (E&P) firms and aviation stocks will be in focus after sharp rebound in oil prices. Brent for April settlement was currently up 30 cents at $35.34 a barrel. The contract had surged $2.32 a barrel or 7.09% to settle at $35.04 a barrel during previous trading session.

Godrej Consumer Products (GCPL) yesterday, 3 February 2016 announced that its subsidiary has entered into an agreement with Canon Chemicals, for the acquisition of a majority equity stake in its business in Kenya. Canon Chemicals, a Kenya based company, manufactures and distributes products in the personal and home categories. Its major brand is Valon, a petroleum jelly. In 2015, the annualised revenue of the business was KSh 1,146 million. This acquisition helps GCPL in further building its presence in the Sub Saharan Africa market. The announcement was made before market hours today, 4 February 2016.

NMDC in its latest price review has kept prices of lump ore unchanged at Rs 1,800 per tonne. The state-run iron ore miner also kept the prices of iron ore fines unchanged at Rs 1,560 per tonne. The prices are excluding royalty, taxes, DMF, duties, levies etc. The announcement was made after market hours yesterday, 3 February 2016.

Thomas Cook (India) said that the board of directors of the company at its meeting held on 3 February 2016, inter alia, has accorded its in-principle approval for the merger of SITA, the inbound division of Kuoni Travel (India) (a wholly owned subsidiary of the company) with Travel Corporation (India) (also a wholly owned subsidiary of the company) subject to regulatory approvals and compliance. Seperately, Thomas Cook (India) said that Quess Corp (formerly IKYA Human Capital Solutions a subsidiary of Thomas Cook (India)) informed the company on 3 February 2016 about its filing of Draft Red Herring Prospectus with the Securities and Exchange Board of India for raising Rs 400 crore through an Initial Public Offering (IPO) of its equity shares. The announcement was made before market hours today, 4 February 2016.

CCL Products (India)s consolidated net profit fell 0.47% to Rs 25.98 crore on 11.76% decline in net total income from operations to Rs 212.92 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 3 February 2016.

Hikals net profit rose 32.44% to Rs 12.41 crore on 6.82% rise in net total income from operations to Rs 240.40 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 3 February 2016.

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PSU OMCs, oil E&P stocks focus after overnight slide in crude oil prices
Feb 03,2016

Shares of public sector oil marketing companies (PSU OMCs), oil exploration and production (E&P) firms and aviation stocks will be in focus after sharp decline in oil prices. Brent for April settlement was currently off 4 cents at $32.68 a barrel. The contract had declined $1.52 a barrel or 4.43% to settle at $32.72 a barrel during previous trading session.

Sun TV Network announced after market hours yesterday, 2 February 2016 that YuppTV, the worlds largest over the top (OTT) provider for Indian content has partnered with the company to offer numerous regional entertainment options to its users. Under the partnership, YuppTV will launch 10 channels in four languages-Telugu, Malayalam, Tamil and Kannada in the Middle East and North Africa (MENA). The move will add more content to YuppTVs entertainment repertoire which boasts of over 25000 hours of video content in its catalogue.

DLFs consolidated net profit rose 24.4% to Rs 163.95 crore on 43.31% rise in total income to Rs 2980.73 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

Crompton Greaves posted a consolidated net loss of Rs 107.03 crore in Q3 December 2015 as compared to net profit of Rs 274.29 crore in Q3 December 2014. Total Income decreased 14.32% to Rs 2087.52 crore in Q3 December 2015 over Q3 December 2014.

Tata Communications consolidated net profit dropped 79.83% to Rs 21.89 crore on 1.83% rise in total income to Rs 5110.24 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

United Breweries net profit rose 80.57% to Rs 72.12 crore on 15.53% rise in total income to Rs 1169.69 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

RPG Life Sciences net profit jumped 84.58% to Rs 4.67 crore on 25.44% rise in net total income from operations to Rs 73.17 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

SRF announced after market hours yesterday, 2 February 2016 that a dedicated plant for manufacturing of specialty chemicals for pharma sector at its chemical complex in Dahej, Gujarat has been commissioned and capitalized on 31 January 2016 at a cost of Rs 43.73 crore.

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PSU OMCs, oil E&P stocks in focus after overnight slide in crude oil prices
Feb 03,2016

Shares of public sector oil marketing companies (PSU OMCs), oil exploration and production (E&P) firms and aviation stocks will be in focus after sharp decline in oil prices. Brent for April settlement was currently off 4 cents at $32.68 a barrel. The contract had declined $1.52 a barrel or 4.43% to settle at $32.72 a barrel during previous trading session.

Sun TV Network announced after market hours yesterday, 2 February 2016 that YuppTV, the worlds largest over the top (OTT) provider for Indian content has partnered with the company to offer numerous regional entertainment options to its users. Under the partnership, YuppTV will launch 10 channels in four languages-Telugu, Malayalam, Tamil and Kannada in the Middle East and North Africa (MENA). The move will add more content to YuppTVs entertainment repertoire which boasts of over 25000 hours of video content in its catalogue.

DLFs consolidated net profit rose 24.4% to Rs 163.95 crore on 43.31% rise in total income to Rs 2980.73 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

Crompton Greaves posted a consolidated net loss of Rs 107.03 crore in Q3 December 2015 as compared to net profit of Rs 274.29 crore in Q3 December 2014. Total Income decreased 14.32% to Rs 2087.52 crore in Q3 December 2015 over Q3 December 2014.

Tata Communications consolidated net profit dropped 79.83% to Rs 21.89 crore on 1.83% rise in total income to Rs 5110.24 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

United Breweries net profit rose 80.57% to Rs 72.12 crore on 15.53% rise in total income to Rs 1169.69 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

RPG Life Sciences net profit jumped 84.58% to Rs 4.67 crore on 25.44% rise in net total income from operations to Rs 73.17 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 2 February 2016.

SRF announced after market hours yesterday, 2 February 2016 that a dedicated plant for manufacturing of specialty chemicals for pharma sector at its chemical complex in Dahej, Gujarat has been commissioned and capitalized on 31 January 2016 at a cost of Rs 43.73 crore.

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Tech Mahindra may decline after poor Q3 result
Feb 02,2016

Tech Mahindras consolidated net profit fell 3.4% to Rs 759 crore on 1.3% increase in revenue to Rs 6701 crore in Q3 December 2015 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 3.2% to Rs 1136 crore in Q3 December 2015 over Q2 September 2015. The result was announced after market hours yesterday, 1 February 2016.

Interest rate sensitive banking, auto and realty stocks will be in spotlight as the Reserve Bank of India (RBI) is scheduled to announce its sixth bi-monthly monetary policy for the year 2015-16 at 11:00 IST today, 2 February 2016. In the fifth bi-monthly monetary policy on 1 December 2015, the RBI kept its benchmark interest rate viz. the repo rate unchanged at 6.75% and the cash reserve ratio (CRR) for commercial banks unchanged at 4% of net demand and time liability (NDTL).

Hero MotoCorps sales rose 0.89% at 5.63 lakh units in January 2016 over January 2015. Riding on the success of scooter range, driven by the new Maestro Edge and Duet, the company continues to expand its market share in the scooter segment, Hero MotoCorp said. Hero MotoCorp scooter sales rose 20% in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016.

Coal India and its subsidiaries on provisional basis achieved 94% of targeted production at 52.86 million tonnes in January 2016. Coal India and its subsidiaries on provisional basis achieved 95% of targeted offtake at 48.32 million tonnes in January 2016. The announcement was made after market hours yesterday, 1 February 2016.

Sun Pharmaceutical Industries announced the launch of Imatinib Mesylate Tablets (therapeutic equivalent to Gleevec for indications approved by the FDA) in US market. The announcement was made by the company after market hours yesterday, 1 February 2016. Sun Pharmas subsidiary received final approval for Imatinib Mesylate from United States Food & Drug Administration (USFDA) in December 2015. Being a First-to-File product, it was granted 180 days of marketing exclusivity by FDA from the time of its launch.

As part of this launch, in addition to strengthening distribution in USA, the company has rolled-out unique Sun Pharma Imatinib Mesylate Savings Card program. This program aims to deliver greater access to the drug for patients who have a commercial insurance but their out-of-pocket may exceed an affordable amount. The savings card will reduce patients co-payment (out-of-pocket) to $10. In line with its philosophy of putting patients first, Sun Pharmas Imatinib Mesylate Savings Card will also offer patients additional savings benefit of up to $700 for a 30-day fill to offset any additional out-of-pocket cost should they be required to meet their deductible or co-insurance. Participating pharmacies across USA can use the patients Sun Pharmas Imatinib Mesylate Savings Card as part of this program.

Separately, Sun Pharmaceutical Industries announced after market hours yesterday, 1 February 2016 that Strides Shasun has completed the acquisition of CNS divisions of erstwhile Ranbaxy Laboratories. It may be recalled that Sun Pharma had acquired Ranbaxy Laboratories.

Tata Motors said total sales of Tata Motors passenger and commercial vehicles rose 10% at 47,034 vehicles in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016. The domestic sales of Tata commercial and passenger vehicles rose 7% at 41,398 units in January 2016 over January 2015. In commercial vehicles, medium & heavy commercial vehicles (M&HCV) sales grew 30% at 14,693 units in January 2016 over January 2015. The light & small commercial vehicle sales has witnessed a growth of 12% at 15,977 units in January 2016 over January 2015. The overall commercial vehicles sales for Tata Motors in the domestic market rose 20% at 30,670 units in January 2016 over January 2015. This significant increase has been enabled by light commercial vehicles (LCV) growth supplementing the already prevailing MHCV growth. This is the second consecutive month of growth in LCVs, after many months, and if sustained, could see return of growth in this segment, albeit on a low base, company said.

Tata Motors passenger vehicles sales fell 18% at 10,728 in January 2016 over January 2015. The companys sales from exports rose 42% to 5,636 units in January 2016 over January 2015.

Escorts said that total sales of its agri machinery segment fell 7.3% to 3,140 units in January 2016 over January 2015. Domestic sales fell 4.7% to 3,089 units in January 2016 over January 2015 and exports slumped 65.1% to 51 units in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016.

Atul said that sales rose 1.98% to 3,708 units in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016.

Century Textiles & Industries announced that the board of directors of the company at its meeting held on 1 February 2016 has decided that activities relating to real estate development presently being carried under different divisions of the company should be consolidated and undertaken under a new division viz. Birla Estates for development of surplus land available with the company located at its various divisions and also to undertake business activities such as builders, promoters/developers for land & buildings etc. including purchase of land anywhere in India. It will be subject to all approvals, permissions etc. as may be required for the purpose. The announcement was made by the company after market hours yesterday, 1 February 2016.

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Tech Mahindra in focus after declaring Q3 result
Feb 02,2016

Tech Mahindras consolidated net profit fell 3.4% to Rs 759 crore on 1.3% increase in revenue to Rs 6701 crore in Q3 December 2015 over Q2 September 2015. The sequential decline in bottom line was due to a sharp fall in non-operational income or the so called other income. The other income dropped 61.43% to Rs 63.94 crore in Q3 December 2015 over Q2 September 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 3.2% to Rs 1136 crore in Q3 December 2015 over Q2 September 2015. The EBITDA margin edged higher to 16.95% in Q3 December 2015 from 16.64% in Q2 September 2015. The result was announced after market hours yesterday, 1 February 2016.

In US dollar terms, Tech Mahindras net profit fell 3.7% to $115 million on 0.4% growth in revenue at $1015 million in Q3 December 2015 over Q2 September 2015. EBITDA rose 2.5% at $172 million in Q3 December 2015 over Q2 September 2015. The EBITDA margin stood at 16.9% in Q3 December 2015, an increase of 30 basis points on sequential basis. In constant currency terms, Tech Mahindras revenue rose 1.2% on sequential basis in Q3 December 2015.

Interest rate sensitive banking, auto and realty stocks will be in spotlight as the Reserve Bank of India (RBI) is scheduled to announce its sixth bi-monthly monetary policy for the year 2015-16 at 11:00 IST today, 2 February 2016. In the fifth bi-monthly monetary policy on 1 December 2015, the RBI kept its benchmark interest rate viz. the repo rate unchanged at 6.75% and the cash reserve ratio (CRR) for commercial banks unchanged at 4% of net demand and time liability (NDTL).

Hero MotoCorps two-wheeler sales rose 0.89% at 5.63 lakh units in January 2016 over January 2015. Riding on the success of scooter range, driven by the new Maestro Edge and Duet, the company continues to expand its market share in the scooter segment, Hero MotoCorp said. Hero MotoCorp scooter sales rose 20% in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016.

Mahindra & Mahindra (M&M) announced that it has completed the sale of equity shares in its subsidiary Swaraj Automotives. M&M said it has received a consideration of Rs 24.83 crore from the sale of shares. The announcement was made after market hours yesterday, 1 February 2016.

Coal India and its subsidiaries on provisional basis achieved 94% of targeted production at 52.86 million tonnes in January 2016. Coal India and its subsidiaries on provisional basis achieved 95% of targeted offtake at 48.32 million tonnes in January 2016. The announcement was made after market hours yesterday, 1 February 2016.

Sun Pharmaceutical Industries announced the launch of Imatinib Mesylate Tablets (therapeutic equivalent to Gleevec for indications approved by the FDA) in US market. The announcement was made by the company after market hours yesterday, 1 February 2016. Sun Pharmas subsidiary received final approval for Imatinib Mesylate from United States Food & Drug Administration (USFDA) in December 2015. Being a First-to-File product, it was granted 180 days of marketing exclusivity by FDA from the time of its launch.

As part of this launch, in addition to strengthening distribution in USA, the company has rolled-out unique Sun Pharma Imatinib Mesylate Savings Card program. This program aims to deliver greater access to the drug for patients who have a commercial insurance but their out-of-pocket may exceed an affordable amount. The savings card will reduce patients co-payment (out-of-pocket) to $10. In line with its philosophy of putting patients first, Sun Pharmas Imatinib Mesylate Savings Card will also offer patients additional savings benefit of up to $700 for a 30-day fill to offset any additional out-of-pocket cost should they be required to meet their deductible or co-insurance. Participating pharmacies across USA can use the patients Sun Pharmas Imatinib Mesylate Savings Card as part of this program.

Separately, Sun Pharmaceutical Industries announced after market hours yesterday, 1 February 2016 that Strides Shasun has completed the acquisition of CNS divisions of erstwhile Ranbaxy Laboratories. It may be recalled that Sun Pharma had acquired Ranbaxy Laboratories.

Tata Motors said total sales of Tata Motors passenger and commercial vehicles rose 10% at 47,034 vehicles in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016. The domestic sales of Tata commercial and passenger vehicles rose 7% at 41,398 units in January 2016 over January 2015. In commercial vehicles, medium & heavy commercial vehicles (M&HCV) sales grew 30% at 14,693 units in January 2016 over January 2015. The light & small commercial vehicle sales has witnessed a growth of 12% at 15,977 units in January 2016 over January 2015. The overall commercial vehicles sales for Tata Motors in the domestic market rose 20% at 30,670 units in January 2016 over January 2015. This significant increase has been enabled by light commercial vehicles (LCV) growth supplementing the already prevailing MHCV growth. This is the second consecutive month of growth in LCVs, after many months, and if sustained, could see return of growth in this segment, albeit on a low base, company said.

Tata Motors passenger vehicles sales fell 18% at 10,728 units in January 2016 over January 2015. The companys sales from exports rose 42% to 5,636 units in January 2016 over January 2015.

Escorts said that total sales of its agri machinery segment fell 7.3% to 3,140 units in January 2016 over January 2015. Domestic sales fell 4.7% to 3,089 units in January 2016 over January 2015 and exports slumped 65.1% to 51 units in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016.

Atul said that sales rose 1.98% to 3,708 units in January 2016 over January 2015. The announcement was made by the company after market hours yesterday, 1 February 2016.

Century Textiles & Industries announced that the board of directors of the company at its meeting held on 1 February 2016 has decided that activities relating to real estate development presently being carried under different divisions of the company should be consolidated and undertaken under a new division viz. Birla Estates for development of surplus land available with the company located at its various divisions and also to undertake business activities such as builders, promoters/developers for land & buildings etc. including purchase of land anywhere in India. It will be subject to all approvals, permissions etc. as may be required for the purpose. The announcement was made by the company after market hours yesterday, 1 February 2016.

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L&T in focus after declaring Q3 result
Feb 01,2016

L&Ts consolidated net profit rose 19% to Rs 1035 crore on 8.4% growth in gross revenue to Rs 26058 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 29 January 2016.

The company garnered fresh orders worth Rs 38528 crore at the group level in Q3 December 2015. The international order inflow during the quarter at Rs 11115 crore constituted 29% of the total order inflow, L&T said. Major orders during the quarter were secured by the infrastructure segment, the company said in a statement.

L&Ts consolidated order book rose 14% on year-on-year basis at Rs 256458 crore as at 31 December 2015. International order book constituted 27% of the total order book.

L&T said that it is focusing on profitable execution of projects and is confident of its growth in the near to medium term.

Grasim Industries consolidated net profit rose 95% to Rs 650 crore on 13% growth in net revenue to Rs 9044 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 30 January 2016.

Grasim Industries earnings before interest, taxation, depreciation, and amortization (EBITDA) rose 43% to Rs 1795 crore in Q3 December 2015 over Q3 December 2014.

Aditya Birla Chemicals (India) (ABCIL) has been merged with the company on 4 January 2016 from the appointed date of 1 April 2015. Therefore, the current quarter results are not comparable with corresponding previous quarter.

On like-for-like basis excluding ABCIL numbers, Grasim Industries consolidated net profit rose 3% to Rs 650 crore on 4% growth in net revenue to Rs 9044 crore in Q3 December 2015 over Q3 December 2014. EBITDA rose 4% to Rs 1795 crore in Q3 December 2015 over Q3 December 2014.

With regard to future business outlook, Grasim Industries said that the cement demand is expected to pick up in the near term with the Governments focus on infrastructure development, housing sector, smart cities, roads etc. The company is well positioned across the country to cater to the growth in demand, Grasim said in a statement.

Wipro before market hours today, 1 February 2016 announced that it has achieved a significant milestone in its ongoing Internet of Things (IoT) deployment for JCB India, a leading construction equipment manufacturer. JCBs Livelink telematics system has successfully connected over 10,000 construction equipment and machines, such as backhoe loaders, excavators and compact wheel loaders, deployed for its customers across India, Wipro said in a statement.

Tech Mahindra announces its Q3 December 2015 result today, 1 February 2016.

Shares of state-run oil marketing companies (PSU OMCs) will be in spotlight after the government on Saturday, 30 January 2016, hiked the excise duty on petrol by Rs 1 per litre and Rs 1.50 on diesel. Basic excise duty on unbranded or normal petrol has been increased from Rs 8.48 per litre to Rs 9.48 and the same on unbranded diesel from Rs 9.83 per litre to Rs 11.33.

Aviation stocks will be in focus after aviation turbine fuel (ATF) or jet fuel price was slashed by nearly 12% with effect from today, 1 February 2016. ATF price in Delhi was reduced by Rs 4,765.5 per kilolitre (kl) or 11.94% to Rs 35,126.82 per kilolitre.

Maricos consolidated net profit rose 23.7% to Rs 197.81 crore on 7.6% rise in total income to Rs 1573.36 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 30 January 2016.

Thermaxs net profit fell 10.94% to Rs 67.86 crore on 7.07% decline in total income to Rs 1052.03 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 29 January 2016.

Thermaxs order intake declined 29.31% to Rs 868 crore in Q3 December 2015 over Q3 December 2014. The order booking continues to face headwind due to subdued market conditions, Thermax said in a statement.

Shriram City Union Finances net profit rose 21.93% to Rs 174.29 crore on 10.93% growth in total income to Rs 1001.09 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 29 January 2016.

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Maruti Suzuki India in focus after Q3 earnings
Jan 29,2016

Maruti Suzuki Indias net profit rose 27.06% to Rs 1019.30 crore on 18.95% rise in total income to Rs 15113.40 crore in Q3 December 2015 over Q3 December 2014. Higher volumes, material cost reduction initiatives and favorable foreign exchange contributed to profit during Q3 December 2015, Maruti Suzuki India said. The result was announced market hours yesterday, 28 January 2016.

NTPC, Yes Bank and L&T are scheduled to announce third quarter results today, 29 January 2016.

ICICI Banks net profit rose 4.46% to Rs 3018.13 crore on 13.11% rise in total income to Rs 17562.95 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 28 January 2016. The banks gross non-performing assets (NPA) edged higher to Rs 21149.19 crore as on 31 December 2015 from Rs 15857.82 crore as on 30 September 2015 and Rs 13082.62 crore as on 31 December 2014. The banks ratio of gross NPAs to gross advances stood at 4.72% as on 31 December 2015, compared with 3.77% as on 30 September 2015 and 3.4% as on 31 December 2014. The banks ratio of net non-performing assets (NPAs) to net advances stood at 2.28% as on 31 December 2015, compared with 1.65% as on 30 September 2015 and 1.27% as on 31 December 2014. Provisions and contingencies rose 190.3% to Rs 2844.05 crore in Q3 December 2015 over Q3 December 2014. The provisioning coverage ratio as on 31 December 2015 stood at 53.2%.

Bharti Airtels consolidated net profit fell 22.24% to Rs 1116.90 crore on 3.76% rise in total income to Rs 24103.40 crore in Q3 December 2015 over Q3 December 2014. The results are as per International Financial Reporting Standards (IFRS). The result was announced after market hours yesterday, 28 January 2016. EBITDA rose 8.3% to Rs 8475 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin expanded to 35.2% in Q3 December 2015 from 33.7% in Q3 December 2014.

Meanwhile, Bharti Airtel and Axiata Group Berhad (Axiata) yesterday, 28 January 2016 signed a definitive agreement to merge their respective telecommunication subsidiaries in Bangladesh; namely, Airtel Bangladesh (Airtel) and Robi Axiata (Robi). The announcement was made after market hours yesterday, 28 January 2016. The agreement follows the 9 September 2015 announcement of both parties entering into an exclusive discussion to explore possibility of combining the business operations in Bangladesh.

Post-merger, the combined entity operating as Robi will serve approximately 4 crore customers. The joint strengths of Robi and Airtel will deliver the widest mobile network coverage across Bangladesh, strengthening its position in the mobile internet segment as well as consolidating its position as the second largest operator in the country, Bharti Airtel and Axiata said in a joint press release. The proposed transaction is subject to conditions precedent including receiving applicable approvals from relevant authorities and is expected to complete in the first half of 2016, the two companies said. Upon completion, Axiata will hold 68.3% controlling stake in the combined entity, while Bharti will hold 25%. The remaining 6.7% will be held by the existing shareholder, NTT DOCOMO of Japan, they added.

Shares of Engineers India will be in focus. The Government of India (GoI), a promoter of Engineers India, announced after market hours on 27 January 2016, that it will pare its stake in the company through an offer for sale (OFS) via the separate window provided by the stock exchanges for the purpose. GoI will sell 3.36 crore shares of EIL, constituting 10% of the companys equity, through the stock exchanges mechanism today, 29 January 2016. The floor price for the OFS was fixed at Rs 189 per share after market hours yesterday, 28 January 2016. Retail investors will get 5% discount to the cut-off price. GoI currently holds 69.37% stake in EIL (as per the shareholding pattern as on 31 December 2015).

Tide Water Oil (India)s board of directors of the company at its meeting held on 28 January 2016, approved a 1:1 bonus issue and a 2-for-1 stock-split. The announcement was made after market hours yesterday, 28 January 2016.

Borosil Glass Works said that on 28 January 2016, the company along with its nominee has acquired 100% equity shares of Hopewell Tableware alongwith all its assets and liabilities and consequent to such acquisition, Hopewell has become an unlisted wholly owned subsidiary (WOS) of the company with effect from 28 January 2016. The announcement was made after market hours yesterday, 28 January 2016.

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HDFC will be watched after Q3 results
Jan 28,2016

HDFC reported 6.66% rise in net profit to Rs 1520.51 crore on 6.46% rise in total income to Rs 7327.69 crore in Q3 December 2015 over Q3 December 2014. As at 31 December 2015, the loan book stood at Rs 248097 crore as against Rs 219939 crore as at 31 December 2014. The result was announced after market hours yesterday, 27 January 2016.

On a consolidated basis, HDFC reported 11.01% rise in net profit to Rs 2419 crore on 2.96% rise in total income to Rs 12306.52 crore in Q3 December 2015 over Q3 December 2014.

Meanwhile, HDFCs board of directors at its meeting held on 27 January 2016 granted its approval for issuance of Secured Redeemable Non-convertible Debentures (NCD) aggregating to Rs 35000 crore on a private placement basis under a Shelf Disclosure Document in terms of the Sebi (Issue and Listing of Debt Securities) Regulations, 2008.

On a consolidated basis, Bharti Infratel reported 11.54% rise in net profit to Rs 565.40 crore on 5.06% rise in total income to Rs 3225.90 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 27 January 2016.

Power Grid Corporation of India reported 31.26% rise in net profit to Rs 1613.12 crore on 22.7% rise in total income to Rs 5504.83 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 27 January 2016.

Neyveli Lignite Corporation reported 84.61% drop in net profit to Rs 47.61 crore on 17.08% fall in total income to Rs 1410.80 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 27 January 2016.

Shares of Engineers India will be in focus. The President of India (acting through the Ministry of Petroleum and Natural Gas, Government of India, the promoter of Engineers India after market hours yesterday, 27 January 2016, announced an offer for sale (OFS) of 3.36 crore shares of the company, representing 10% of the total paid up equity share capital of the company. The OFS shall take place on the separate window of the stock exchanges from 9:15 IST to 15:30 IST on 29 January 2016.

IDFC Bank reported net profit of Rs 242.20 crore on operating income of Rs 604.20 crore in Q3 December 2015. Net Advances grew 3% to Rs 42995 crore in Q3 December 2015 over Q2 September 2015. Deposits stood at Rs 1646 crore, CASA at Rs 324 crore and Term Deposits at Rs 1322 crore in Q3 December 2015. As on 31 December 2015, the bank reported total Capital Adequacy Ratio (CAR) of 20.3% and Tier 1 CAR of 19.6% under Basel III.

The Gross non-performing loan (NPL) and Net NPL of the bank as on 31 December 2015 stood at Rs 1462 crore and Rs 453 crore respectively. Gross NPL as a percentage to gross advances stood at 3.1% and net NPL as a percentage to net advances at 1%.

As on 31 December 2015, IDFC Bank has 24 branches (of which 16 branches in Bharat Banking, 7 in Commercial & Wholesale Banking and 1 in Personal & Business Banking), 3 ATMs and 5 Micro ATMs. The result was announced after market hours yesterday, 27 January 2016.

Crompton Greaves (CG) and CEA (LITEN) have agreed to cooperate for a period of 12 months to investigate market potential and opportunities for Solar Photo Voltaic (PV) system with storage function for Indian Airports. The agreement was formally announced during the recently held India-France Business Summit in Chandigarh. There is no capital investment in the first phase of this collaboration, however following investigation if found suitable, the companies intend to set up manufacturing facilities using CGs infrastructure and expertise in India and technology knowhow of CEA for commercialising the business opportunity. Being a critical infrastructure, Airports need significant energy backup. Use of Solar PV with battery backup is an innovative solution that will enable Indian airports to reduce carbon emissions by moving over the traditional diesel generator (DG) sets, at the same time make it an economical option given the considerable Time of Day (TOD) charges levied, CG said in a statement.

LITEN is a major European research institute and a driving force behind the development of the sustainable energy technologies of the future. The institute is spearheading the EUs efforts to limit dependency on fossil fuels and reduce greenhouse gas emissions. It is a part of CEA Tech, the R&D wing of the innovation giant, the CEA - a French government-funded technological research organisation in the areas of energy, defence and security, information technologies and health technologies.

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TVS Motor in focus after new product launch
Jan 27,2016

TVS Motor Company announced the launch of its new four stroke moped TVS XL 100, which is currently available in the Tamil Nadu market. The TVS XL 100 comes at an ex-showroom price of Rs 29,539 in Tamil Nadu. The moped comes in five colours of black, red, green, blue and grey. The announcement was made after market hours on Monday, 25 January 2016.

NBCC said it bagged a work order from International Trade Promotion Organisation (ITPO) for re-development of Pragati Maidan, New Delhi for Rs 2149 crore. The announcement was made during trading hours today, 27 January 2016.

Housing finance major HDFC and Power Grid Corporation of India are scheduled to announce their third quarter results today, 27 January 2016.

Goa Carbon said that the operations at the companys Goa plant has been temporarily shut down from 23 January 2016. There would not be any financial impact due to the temporary shutdown of the companys Goa unit on account of sufficient inventory of finished material, Goa Carbon said. The announcement was made after market hours on Monday, 25 January 2016.

LT Foods has initiated a dialogue with DSM Nutritional products to introduce fortified rice as a new offering in the nutritional range, thereby expanding the overall product portfolio of the company. It is intended to offer rice based nutrition products for both the social sector through government / NGO / UN channels as well as through the open market channels by leveraging the strong relationship with its customers, LT Foods said. This venture will strengthen the companys presence in nutritional product segment where it currently offers products like brown basmati rice, the company said. The target audience of new product is every household in general, specifically young children and young mothers, it added. The announcement was made after market hours on Monday, 25 January 2016.

Scooters India said that the board of directors of the company at its meeting held on 25 January 2016, has taken note of reduction in the practical/achievable capacity of the plant of the company to 12500 units of three wheeler as against the nameplate/installed capacity of 16500 units of three wheelers, as per report of Chartered Engineer. Further the board also approved the companys plan to manufacture body built three wheelers in addition to drive away chassis. The announcement was made after market hours on Monday, 25 January 2016.

Indosolar said that the board of directors of the company at its meeting held on 25 January 2016, has noted, the outcome of the joint lenders meeting and as per meeting, banks are not considering second restructuring proposal as of now and are exploring the possibility of sale to Asset Restructuring Company (ARC) and/or to invoke change in management. The announcement was made after market hours on Monday, 25 January 2016.

HCL Technologies announced after market hours on Monday, 25 January 2016, acquisition of Point to Point and Point to Point Products (jointly referred as Point to Point or P2P), UKs leading end-user cloud solutions design, implementation and delivery specialists. With over a decade of experience in the desktop and application virtualization space, Point to Point provides a range of enterprise workplace transformation services and end-user cloud engineering solutions.

As part of the acquisition, HCL will be acquiring 100% outstanding shares of the company, the existing leadership team of P2P will remain in place and no workforce changes are planned. The total cash consideration for this transaction is approximately GBP 8 million, including contingent payments subject to certain financial milestones. P2P had trailing twelve-month revenue of approximately GBP 8.5 million as of 31 December 2015. Over 40 P2P employees will be welcomed into the HCL family. The acquisition will have a simultaneous signing and closing and business folds into HCL immediately on signing of the deal.

The acquisition enables HCL to take advantage of the rapidly growing virtualization space as there is a Global Shift to Desktop Virtualization. Adding P2P augments HCLs capability in virtualized desktop technologies such as Citrix, Microsoft and Lakeside.

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ITC in focus after Q3 results
Jan 25,2016

Index heavyweight and cigarette major ITCs net profit rose 0.67% to Rs 2652.82 crore on 3.46% rise in total income to Rs 9854.66 crore in Q3 December 2015 over Q3 December 2014. The result hit the market at the closing bell on Friday, 22 January 2016.

Cairn Indias consolidated net profit fell 99.35% to Rs 8.69 crore on 44.53% drop in total income to Rs 2230.19 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 22 January 2016.

HDFC Bank is scheduled to announce its third quarter results today, 25 January 2016.

Shares of four public sector undertakings (PSUs) viz. Coal India, National Aluminium Company (Nalco), Bharat Heavy Electricals (Bhel) and NMDC will be in focus on media reports that the government, in a year-end rush to raise more funds through disinvestment, has asked these companies to consider buyback of shares. Media reports suggested that Coal India and Nalco are in talks with their respective administrative ministries to buy up to 10% of their shares. The Government of India (GoI) held 79.65% in Coal India, 80.93% stake in Nalco and 80% stake in NMDC as per the shareholding pattern as on 30 September 2015. It held 63.06% in Bhel as on 31 December 2015.

Shares of oil exploration and production (E&P) companies, public sector oil marketing companies (PSU OMCs) and aviation companies will be watched as Brent crude oil prices spurted on Friday, 22 January 2016. Brent for March settlement jumped $2.93 a barrel or 10.02% to settle at $32.18 a barrel during the previous trading session.

Tata Power Company announced after market hours on Friday, 22 January 2016, that its 100% subsidiary, Tata Power Renewable Energy (TPREL), issued and allotted guaranteed, unsecured, non-cumulative, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) for an amount of Rs 425 crore on private placement basis. The NCDs have been rated AA (SO) by CARE. The NCDs will carry a spread of 0.13% above Base Rate of State Bank of India (fully floating) payable annually and are guaranteed by the company. The proceeds from the NCDs will be primarily used to prepay existing higher cost debt in TPREL. These NCDs have been issued on a private placement basis through a private placement offer letter cum information memorandum.

In a separate announcement on Friday, 22 January 2016, Tata Power announced termination of a share purchase agreement (SPA) with Ideal Energy Projects (IEPL) for acquisition of 100% stake in a 270 MW coal based thermal power project in Maharashtra, extendable to 540 MW. An agreement was reached earlier between Tata Power and IEPL for sale of 100% stake in IEPL in December 2014. As per the terms of SPA, the acquisition was subject to fulfillment of certain conditions precedent. The Company made all efforts to arrive at a workable solution to salvage a stressed asset along with key stakeholders. However, the stakeholders could not conclude, leading to non-fulfillment of the aforesaid conditions precedent. In view of the above, the company has decided not to pursue this opportunity any further and confirm the termination of the SPA.

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