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Steel Strips Wheels gains after reporting decent sales in May
Jun 01,2016

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the S&P BSE Sensex was up 90.42 points or 0.34% at 26,758.38.

On BSE, so far 6,362 shares were traded in the counter as against average daily volume of 7,496 shares in the past one quarter. The stock hit a high of Rs 399.35 and a low of Rs 388 so far during the day. The stock had hit a 52-week high of Rs 458 on 28 December 2015. The stock had hit a 52-week low of Rs 262.70 on 18 June 2015. The stock had underperformed the market over the past one month till 31 May 2016, falling 8.59% compared with 4.14% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 30.35% as against Sensexs 15.94% rise.

The small-cap company has equity capital of Rs 15.26 crore. Face value per share is Rs 10.

Steel Strips Wheels gross turnover rose 16% to 125.47 crore in May 2016 over May 2015. Net turnover rose 16% to Rs 112.61 crore in May 2016 over May 2015. The company said that the product mix towards heavier wheel is having its impact on top line of the company and will have favourable impact on the overall profitability of the company.

Steel Strips Wheels (SSWL)s net profit jumped 55.1% to Rs 18.49 crore on 5.1% growth in net sales to Rs 308.88 crore in Q4 March 2016 over Q4 March 2015.

SSWL designs & manufactures automotive steel wheels and is among the leading supplier to Indian & global automobile manufacturers.

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M&M gains after reporting good auto & tractor sales for May
Jun 01,2016

The sales figures were announced during market hours today, 1 June 2016.

Meanwhile, the S&P BSE Sensex was up 128.94 points or 0.40% at 26,731.95

On BSE, so far 84,811 shares were traded in the counter as against average daily volume of 93,032 shares in the past one quarter. The stock had hit a high of Rs 1,349.70 and low of Rs 1,326 so far during the day. The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past one month till 31 May 2016, falling 0.53% compared with 4.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 7.98% as against Sensexs 15.94% rise.

Mahindra & Mahindra (M&M) said that total auto sales rose 11% to 40,656 units in May 2016 over May 2015. Domestic sales rose 10% to 36,613 units in May 2016 over May 2015. Exports sales rose 21% to 4,043 units in May 2016 over May 2015.

Commenting on the auto sales performance for May 2016, Pravin Shah, President and Chief Executive Officer (Automotive) M&M said that the favurable monsoon projections will definitely lead to improved buyer sentiment that would likely bring a buoyancy in overall demand across all segments of the automotive industry. Going forward, the company expects that the wider product portfolio will drive growth.

Separately, M&M said that total sales of tractors rose 20% to 23,018 units in May 2016 over May 2015. Domestic sales of tractors rose 21% to 22,148 units in May 2016 over May 2015. Exports sales of tractors fell 14% to 870 units in May 2016 over May 2015.

Commenting on the tractor sales performance, Rajesh Jejurikar, President and Chief Executive Farm Equipment and Two Wheeler Division, M&M said that the company hopes that the positive monsoon forecast, advance estimate of Rabi crop production and the increase in minimum support prices will boost agri income and positively impact the demand going forward.

M&Ms net profit rose 6% to Rs 583.73 crore on 14.8% growth in net sales to Rs 10666.43 crore in Q4 March 2016 over Q4 March 2015.

Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.

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Ashok Leyland drops after declaring muted sales growth in May
Jun 01,2016

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the S&P BSE Sensex was up 109.63 points or 0.41% at 26,777.59

On BSE, so far 27.13 lakh shares were traded in the counter as against average daily volume of 13.06 lakh shares in the past one quarter. The stock hit a high of Rs 111.65 and low of Rs 104.80 so far during the day. The stock had hit a record high of Rs 112.80 on 13 April 2015. The stock had hit a 52-week low of Rs 63.95 on 16 June 2015. The stock had underperformed the market over the past one month till 31 May 2016, rising 2.16% compared with Sensexs 4.14% gains. The scrip, however, outperformed the market in past one quarter, gaining 24.32% as against Sensexs 15.94% gains.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Rs 1.

Ashok Leyland reported 8% increase in sales of medium and heavy commercial vehicles (M&HCV) to 7,469 units in May 2016 over May 2015. Sales of light commercial vehicles (LCV) remained unchanged at 2,406 units in May 2016 over May 2015.

Ashok Leylands net profit dropped 66.5% to Rs 77.02 crore on 26.7% rise in total income to Rs 6028.92 crore in Q4 March 2016 over Q4 March 2015.

Ashok Leyland is the second largest manufacturer of commercial vehicles in terms of sales in India.

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Volumes jump at Gokaldas Exports counter
Jun 01,2016

Gokaldas Exports clocked volume of 13.99 lakh shares by 13:40 IST on BSE, a 18.26 times surge over two-week average daily volume of 77,000 shares. The stock surged 16.48% at Rs 100.35.

EID Parry (India) notched up volume of 6.67 lakh shares, a 9.75-fold surge over two-week average daily volume of 68,000 shares. The stock rose 3.07% to Rs 241.65.

Radico Khaitan saw volume of 6.95 lakh shares, a 8.44-fold surge over two-week average daily volume of 82,000 shares. The stock advanced 1.76% at Rs 86.70.

Jamna Auto Industries clocked volume of 4.75 lakh shares, a 7.8-fold surge over two-week average daily volume of 61,000 shares. The stock jumped 10.43% at Rs 162.

Supreme Industries saw volume of 94,000 shares, a 6.34-fold rise over two-week average daily volume of 13,000 shares. The stock shed 5.97% at Rs 927.60.

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SML Isuzu advances after declaring robust vehicle sales in May
Jun 01,2016

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the S&P BSE Sensex was up 112.61 points or 0.42% at 26,780.57

On BSE, so far 33,486 shares were traded in the counter as against average daily volume of 31,133 shares in the past one quarter. The stock hit a high of Rs 1,055.35 and a low of Rs 985.10 so far during the day. The stock had hit a 52-week high of Rs 1,599.90 on 4 August 2015. The stock had hit a 52-week low of Rs 645.50 on 29 February 2016. The stock had underperformed the market over the past one month till 31 May 2016, rising 1.92% compared with Sensexs 4.14% gains. The scrip, however, outperformed the market in past one quarter, gaining 48.12% as against Sensexs 15.94% gains.

The small-cap commercial vehicles manufacturer has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzus net profit rose 30.8% to Rs 16.67 crore on 1.1% fall in total income to Rs 320.37 crore in Q4 March 2016 over Q4 March 2015.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 31 March 2016).

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Cadila Healthcare gains after getting approval from USFDA for Amantadine Hydrochloride Capsules
Jun 01,2016

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the BSE Sensex was up 76.88 points, or 0.29%, to 26,744.84

On BSE, so far 48,014 shares were traded in the counter, compared with an average volume of 93,210 shares in the past one quarter. The stock hit a high of Rs 343.90 and a low of Rs 337.20 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had underperformed the market over the past one month till 31 May 2016, rising 2.8% compared with Sensexs 4.14% gains. The scrip also underperformed the market in past one quarter, gaining 6.78% as against Sensexs 15.94% gains.

The large-cap company has an equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare said that the estimated sales for Amantadine Hydrochloride Capsules USP as per 1MS (MAT April 2016) is $40.1 million. The drug which is used in the treatment of Parkinsons disease and select viral infections, will be produced at the groups formulations manufacturing facility at the pharma special economic zone in Ahmedabad, the company said. The group now has more than 100 approvals and has so far filed nearly 270 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in FY 2003-2004, Cadila Healthcare said.

Cadila Healthcares consolidated net profit rose 10.9% to Rs 388.70 crore on 5.7% growth in net sales to Rs 2375.50 crore in Q4 March 2016 over Q4 March 2015.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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Airline stocks drop after hike in jet fuel prices
Jun 01,2016

The jet fuel prices were revised by the public sector oil marketing companies (PSU OMCs) after market hours yesterday, 31 May 2016.

Meanwhile, the S&P BSE Sensex was up 82.94 points or 0.29% at 26,745.29.

InterGlobe Aviation (down 2.23%) and Jet Airways (India) (down 1.63%) declined. SpiceJet rose 0.66%.

Indian Oil Corporation yesterday, 31 May 2016 increased jet fuel prices by 9.22% to Rs 46,729.48 per kilolitre in Delhi with the corresponding revision in prices in other states depending on state levies. The revised jet fuel prices took effect from today, 1 June 2016.

Jet fuel constitutes over 40% of an airlines operating costs. Prices of jet fuel are directly linked to crude oil prices. PSU OMCs review jet fuel prices on the last day of the month based on the average imported oil price in the preceding fortnight.

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Glenmark Pharma gains after announcing plans to raise funds
Jun 01,2016

The announcement was made after market hours yesterday, 31 May 2016.

Meanwhile, the BSE Sensex was up 89.60 points, or 0.34%, to 26,757.56.

On BSE, so far 15,772 shares were traded in the counter, compared with an average volume of 40,807 shares in the past one quarter. The stock hit a high of Rs 866.35 and a low of Rs 853.55 so far during the day. The stock hit a record high of Rs 1,261.95 on 21 August 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had underperformed the market over the past one month till 31 May 2016, rising 2.76% compared with 4.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 15.93% as against Sensexs 15.94% rise.

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

Glenmark Pharmaceuticals said that the issuance committee of the company approved raising of up to $200 million through issue of foreign currency convertible bonds (FCCBs) to be listed on the Singapore Stock Exchange. The FCCB issue was launched yesterday, 31 May 2016. The floor price for conversion of the FCCBs shall be Rs 861.84. The company will issue FCCBs at 100% of their principal amount on or about closing date on 28 June 2016. The deal size of the issue is $170 million with an upsize option of $30 million excercisable in whole or in part upto 60 days post closing date. The issue has a tenure of 6 years and will mature on 28 June 2022. The bonds carry coupon of 2% per annum payable on a semi annual basis in arrear.

The company had earlier received approval from its board and its shareholders to raise up to $500 million through issuance of securities including equity shares or equity linked securities, including through qualified institutional placement (QIP), convertible bonds, warrants, depository receipts.

On a consolidated basis, Glenmark Pharmaceuticals net profit jumped 1516.31% to Rs 171.49 crore on 24% rise in net sales to Rs 2174.02 crore in Q4 March 2016 over Q4 March 2015.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization headquartered at Mumbai, India. Glenmark has several molecules in various stages of clinical development and is primarily focused in the areas of Inflammation (asthma/COPD, rheumatoid arthritis etc.) and pain (neuropathic pain and inflammatory pain).

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Nucleus Software Exports gains after announcing launch of mobile loan self-sourcing solution
Jun 01,2016

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the BSE Sensex was up 179.16 points, or 0.67%, to 26,847.12

On BSE, so far 1,476 shares were traded in the counter, compared with an average volume of 16,532 shares in the past one quarter. The stock hit a high of Rs 207.70 and a low of Rs 205 so far during the day. The stock hit a 52-week high of Rs 353 on 28 July 2015. The stock hit a 52-week low of Rs 145.20 on 29 February 2016. The stock had underperformed the market over the past one month till 31 May 2016, rising 1.09% compared with Sensexs 4.14% gains. The scrip, however, outperformed the market in past one quarter, gaining 34.64% as against Sensexs 15.94% gains.

The small-cap company has an equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Software Exports today, 1 June 2016 announced the Australian release of its mobile loan self-sourcing solution - mApply. Bank customers in Australia are among the worlds fastest adopters of mobile banking, which has now overtaken online banking as the primary channel for customer interaction. mAapply helps banks digitize their loan origination lifecycle. mApply enables the banks customers and mortgage brokers to view pre-approved loan offers from the bank, select the best offer and submit a paperless loan application within minutes. With mApply, banks can easily enhance their business reach, cut down their time to market, cross sell new products and drastically reduce the cost of loan origination. This process can be easily completed on mobile without any need to visit the bank branch.

Nucleus Software Exports consolidated net profit rose 101.42% to Rs 14.12 crore on 6.62% rise in total income to Rs 98.23 crore in Q4 March 2016 over Q3 December 2015.

Nucleus Software Exports is the leading provider of lending and transaction banking products to the global financial services industry.

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Dewan Housing gains after announcing fund raising plans
Jun 01,2016

The announcement was made after market hours yesterday, 31 May 2016.

Meanwhile, the BSE Sensex was up 176.10 points, or 0.65%, to 26,842.12.

On BSE, so far 76,852 shares were traded in the counter, compared with an average volume of 1.88 lakh shares in the past one quarter. The stock hit a high of Rs 202.65 and a low of Rs 199.65 so far during the day. The stock hit a 52-week high of Rs 268 on 10 August 2015. The stock hit a 52-week low of Rs 140.55 on 12 February 2016. The stock had underperformed the market over the past one month till 31 May 2016, rising 0.28% compared with 4.14% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 29.36% as against Sensexs 15.94% rise.

The mid-cap company has an equity capital of Rs 291.80 crore. Face value per share is Rs 10.

Dewan Housing Finance Corporation proposed to issue secured non convertible redeemable debentures at par aggregating to Rs 250 crore including green shoe option on private placement basis. The issue will open on 3 June 2016 and will close on the same day. The NCDs carry a coupon rate of 9% per annum.

Net profit of Dewan Housing Finance Corporation (DHFL) rose 16.9% to Rs 189.66 crore on 24.3% rise in total income to Rs 1966.57 crore in Q3 December 2015 over Q3 December 2014.

DHFL provides loans for purchase or construction of residential houses.

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Maruti inches up after declaring rise in sales in May
Jun 01,2016

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the S&P BSE Sensex was up 154.17 points or 0.59% at 26,824.68

On BSE, so far 26,121 shares were traded in the counter as against average daily volume of 81,764 shares in the past one quarter. The stock hit a high of Rs 4,199.90 and a low of Rs 4,157 so far during the day. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 31 May 2016, rising 9.83% compared with Sensexs 4.14% gains. The scrip also outperformed the market in past one quarter, gaining 28.54% as against Sensexs 15.94% gains.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki Indias domestic sales rose 10.6% to 1.13 lakh units in May 2016 over May 2015. Total export sales declined 20.8% to 9,872 units in May 2016 over May 2015.

Maruti Suzuki India announced after market hours yesterday, 31 May 2016, that it will resume manufacture of vehicles at its Gurgaon facilities from second half of today, 1 June 2016. Certain operations in the Manesar campus, including casting and manufacture of transmissions, will also resume in the second half of today, 1 June 2016, Maruti Suzuki India said. Subros and Maruti Suzuki India are jointly working on options to obtain supply of components from other facilities and gradually bring operations back to normal, the company said. Maruti Suzuki India had to suspend operations at its facilities from second half of 29 May 2016 owing to a fire accident at the Manesar facilities of its supplier Subros.

Maruti Suzuki Indias net profit declined 11.7% to Rs 1133.60 crore on 12.5% growth in net sales to Rs 14929.50 crore in Q4 March 2016 over Q4 March 2015.

Japanese parent Suzuki Motor Corporation held 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 March 2016).

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Tata Steel gains after UK arm completes sale of Long Products Europe business
Jun 01,2016

The announcement was made after market hours yesterday, 31 May 2016.

Meanwhile, the BSE Sensex was up 165.64 points, or 0.62%, to 26,829.37.

On BSE, so far 2.45 lakh shares were traded in the counter, compared with an average volume of 11.09 lakh shares in the past one quarter. The stock hit a high of Rs 338.05 and a low of Rs 334.60 so far during the day. The stock hit a 52-week high of Rs 364.15 on 21 April 2016. The stock hit a 52-week low of Rs 200 on 29 September 2015. The stock had underperformed the market over the past one month till 31 May 2016, falling 4.59% compared with 4.14% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 34.26% as against Sensexs 15.94% rise.

The large-cap company has an equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel said that during the last twelve months, the Long Products Europe business has implemented a transformation plan including a portfolio restructuring of assets, underpinned by committed support from employees and their trade unions. This has focused the business on higher-value markets supported by a more competitive cost base. The Long Products Europe business, which in the UK includes the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities, as well as a rail mill in northern France, will trade under the name of British Steel. All together the business employs 4,800 people - 4,400 in the UK and 400 in France. The sale follows an accelerated process of negotiations between Tata Steel UK and Greybull Capital.

Bimlendra Jha, Executive Chairman of the Long Products Europe business and CEO of Tata Steel UK said that Tata Steel hopes that under Greybull ownership, the business will continue the momentum of the improvement program that has been initiated in the last 12 months.

Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016 compared with consolidated net loss of Rs 5674.29 crore in Q4 March 2015. Tata Steels total income fell 12.33% to Rs 29636.69 crore in Q4 March 2016 over Q4 March 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers, with a steel capacity of more than 28 million tonnes and 80,000 employees across five continents.

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PSU OMCs gain after hiking petrol & diesel prices
Jun 01,2016

The announcement was made after market hours yesterday, 31 May 2016.

Meanwhile, the S&P BSE Sensex was up 151.02 points or 0.56% at 26,818.28.

Indian Oil Corporation (up 1.37%), BPCL (up 0.7%) and HPCL (up 0.68%) gained.

Indian Oil Corporation (IOCL) yesterday, 31 May 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 31 May 2016. Petrol price was hiked by Rs 2.58 per litre and diesel price was raised by Rs 2.26 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 65.60 per litre and diesel costs Rs 53.93 a litre. The government decontroled petrol & diesel prices.

PSU OMCs undertake fuel price review twice during the month based on the trend in international oil market. The first price review takes place during the middle of the month and the second on the last day of the month.

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ONGC gains as OVL completes acquisition of 15% stake in JSC Vankorneft
Jun 01,2016

The announcement was made after market hours yesterday, 31 May 2016.

Meanwhile, the S&P BSE Sensex was up 106.60 points or 0.4% at 26,774.56

On BSE, so far 62,269 shares were traded in the counter as against average daily volume of 6.55 lakh shares in the past one quarter. The stock hit high of Rs 213.20 and low of Rs 211.85 so far during the day. The stock had hit a 52-week high of Rs 330 on 1 June 2015. The stock had hit a 52-week low of Rs 188 on 12 February 2016.

The large-cap company has equity capital of Rs 4277.75 crore. Face value per share is Rs 5.

ONGC announced that its wholly-owned subsidiary, ONGC Videsh (OVL), on 31 May 2016 completed the acquisition of 15% stake in Russias JSC Vankorneft from Rosneft Oil Company. JSC Vankorneft is a company organized under the law of Russian Federation, which is the owner of Vankor Field and North Vankor license. Rosneft, the national oil company of Russia continues to hold the remaining 85% shares of JSC Vankorneft.

Earlier in September 2015, OVL had signed an agreement to acquire not less than 15% shares in JSC Vankorneft for $1268 million.

Vankor is Rosnefts (and Russias) second largest field by production and accounts for 4% of Russian crude oil production. The daily peak production from the field is around 442,000 barrels of oil per day (bopd). With 15% shareholding, OVLs share of daily oil production would be about 66,000 bopd.

The present transaction strengthens OVLs presence in Russia and is consistent with its stated strategic objective of adding high quality international assets to its existing exploration & production (E&P) portfolio. This acquisition also has significant strategic importance to India, both in terms of augmentation of Indias Energy Security, as well as adding a new dimension to the relationship between Rosneft and OVL besides further strengthening the cooperation between the two countries, the Indian company said.

ONGCs net profit rose 12.2% to Rs 4416.11 crore on 11.8% decline in total income to Rs 20628.90 crore in Q4 March 2016 over Q4 March 2015.

ONGC is Indias largest oil and gas exploration firm by sales.

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Axis Bank gains after RBI allows RFPIs to buy up to 62% stake
Jun 01,2016

Meanwhile, the S&P BSE Sensex was up 54.77 points or 0.21% at 26,715.75

On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 7.73 lakh shares in the past one quarter. The stock hit a high of Rs 529.50 and a low of Rs 523.10 so far during the day. The stock had hit a 52-week high of Rs 613.40 on 16 July 2015. The stock had hit a 52-week low of Rs 366.65 on 18 January 2016.

The large-cap bank has equity capital of Rs 477.18 crore. Face value per share is Rs 2.

The Reserve Bank of India (RBI) yesterday, 31 May 2016, notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 62% of the paid-up capital of Axis Bank, from existing 49% under the Portfolio Investment Scheme (PIS). The central bank further notified that the total foreign investment from all sources i.e. Foreign Institutional Investors (FII)/Registered Foreign Portfolios Investors (RFPIs)/Foreign Direct Investment (FDI)/Non-Resident Indians (NRI)/ Persons of Indian Origin (PIO)/American Depository Receipts (ADR)/Global Depository Receipts (GDR) in the bank shall not exceed 62% of paid-up capital. The central bank has stated that Axis Bank has passed resolutions at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges, RBI said.

Axis Banks net profit fell 1.2% to Rs 2154.28 crore on 9.8% rise in total income to Rs 13592.97 crore in Q4 March 2016 over Q4 March 2015.

Axis Bank is one of the biggest private sector banks in India.

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