My Application Form Status

Check the status of your application form with Angel Broking.
  • Companies
  • Everything else
Search
HCL Technologies in focus after Q1 results
Aug 03,2016

On a consolidated basis, HCL Technologies net profit rose 1.84% to Rs 2050.78 crore on 5.96% increase in total income from operations to Rs 11336.32 crore in Q1 June 2016 over Q4 March 2016. The result was announced before trading hours today, 3 August 2016.

DLF announced that credit ratings agency ICRA has upgraded its outlook on the companys non-convertible debentures (NCD) and bank facilities to stable from negative. The rating agency has also re-affirmed its long term rating of ICRA A assigned to the companys NCD programme and bank facilities. The announcement was made after market hours yesterday, 2 August 2016.

NHPC announced that the Unit 4 of Teesta Low Dam Project-IV (160 MW) project has been successfully spun at its full RPM on 1 August 2016. The announcement hit the market at the fag end of trading session yesterday, 2 August 2016.

Larsen & Toubro Infotech (L&T Infotech) announced a strategic alliance with Pegasystems. With this partnership, L&T Infotech becomes a Pega Registered Business Partner, enabling it to provide Pega software expertise and implementation services to its clients. L&T Infotech will deliver advanced Business Process Management (BPM) and Business Process Automation (BPA) solutions that optimize efficiencies and accelerate digital transformation programs. The announcement was made after market hours yesterday, 2 August 2016.

BASF India turns ex-dividend today, 3 August 2016, for dividend of Rs 1 per share for the year ended 31 March 2016.

Glenmark Pharmaceuticals turns ex-dividend today, 3 August 2016, for dividend of Rs 2 per share for the year ended 31 March 2016.

MRF turns ex-dividend today, 3 August 2016, for final dividend of Rs 94 per share for the year ended 31 March 2016.

Page Industries turns ex-dividend today, 3 August 2016, for final dividend of Rs 24 per share for the year ended 31 March 2016.

Powered by Capital Market - Live News

Hero MotoCorp in focus after decent July sales
Aug 02,2016

Hero MotoCorp (HMCL) announced after market hours yesterday, 1 August 2016, that its total two-wheelers sales rose 9.13% to 5.32 lakh units in July 2016 over July 2015. In July 2016, HMCL commenced retail sales of Splendor iSmart 110 - the first motorcycle to have been completely designed and developed by its in-house R&D team at the state-of-the-art, world class Hero Centre of Innovation and Technology in Jaipur. The initial customer response to the new bike has been positive, the company said. With the above average monsoon and implementation of the seventh pay commission recommendations, the company remains cautiously optimistic about a positive turnaround in the industry in the second half of the year, HMCL said in a statement.

Tata Motors passenger and commercial vehicle sales (including exports) rose 7% to 43,160 vehicles in July 2016 over in July 2015. The companys domestic sales of Tata commercial and passenger vehicles rose 8% to 37,789 units in July 2016 over in July 2015. The companys sales from exports rose 6% to 5,371 units in July 2016 over in July 2015. The announcement was made after market hours yesterday, 1 August 2016.

Passenger car major Maruti Suzuki India (MSIL) announced an increase in prices of select models ranging from Rs 1,500 to Rs 5,000 ex-showroom Delhi with effect from 1 August 2016. In case of newly launched models like Vitara Brezza and Baleno, the prices are being increased by upto Rs 20,000 and upto Rs 10,000 respectively, MSIL said. This price revision is based on factors like segment wise demand, forex movements and strategic objectives of the company, MSIL said in a statement. The announcement was made after market hours yesterday, 1 August 2016.

NTPC announced that its board of directors at a meeting held on Friday, 29 July 2016, approved the issue of secured/unsecured, redeemable, taxable/ tax-free, cumulative/non-cumulative, non-convertible debentures (bonds/NCDs) upto Rs 15000 crore during the period commencing from the date of passing of Special Resolution in the Annual General Meeting (AGM), to be held on 20 September 2016, till completion of one year thereof or the date of next AGM in the financial year 2017-18 whichever is earlier. The announcement was made after market hours yesterday, 1 August 2016.

Separately, NTPC announced after market hours yesterday, 1 August 2016 that it has commissioned a 50 megawatts (MW) capacity of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu on 29 July 2016. With this the installed capacity of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu has become 250 MW and that of NTPC Group has become 47,228 MW.

Drug major Lupin announced before trading hours today, 2 August 2016, that its Japanese subsidiary Kyowa Pharmaceutical Industry Co., has entered into a strategic asset purchase agreement with Shionogi & Co., on 1 August 2016, to acquire 21 long-listed products from the Japanese pharma major, effective 1 December 2016, subject to certain closing conditions and regulatory approvals including the transfer of marketing authorization of the products to Kyowa.

With the vision of growing globally as a drug discovery-based pharmaceutical company, Shionogi is focusing its resources on its core therapeutic and marketing areas, while continuing to create innovative medicines to support future growth and to strengthen its business operations. As a part of this growth strategy, Shionogi would transfer 21 long-listed products to Kyowa, the Japanese subsidiary of Lupin. Kyowa is amongst the top 10 Generic companies in Japan and a market leader in Central Nervous System (CNS) space well known for its AMEL brand, in addition to other generic pharmaceutical products in its portfolio. With this acquisition, Kyowa will rank 6th amongst generic companies in Japan. The 21 products cover therapy areas such as Central Nervous System (CNS), Oncology, Cardiovascular and Antiinfectives. These 21 products had sales of 9, 400 million yen ($90 million) collectively on NHI price basis. Under the terms of this agreement, Kyowa will book the sales of the 21 prodcuts after 1 December 2016, and Shionogi will receive 15.4 billion yen from Kyowa.

On a consolidated basis, Tech Mahindras net profit rose 20.5% to Rs 750 crore on 10% increase in revenue to Rs 6921 crore in Q1 June 2016 over Q1 June 2015. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose 13.7% to Rs 1029 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 1 August 2016.

On a consolidated basis, Tata Communications net profit fell 3.51% to Rs 41.78 crore on 3.42% decline in total income to Rs 5092.47 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 1 August 2016.

ACC turns ex-dividend today, 2 August 2016 for interim dividend of Rs 11 per share for the year ending 31 December 2016 (FY 2016).

Ambuja Cements turns ex-dividend today, 2 August 2016 for interim dividend of Rs 1.60 per share for the year ending 31 December 2016 (FY 2016).

Powered by Capital Market - Live News

L&T, ICICI Bank in focus after Q1 numbers
Aug 01,2016

L&Ts consolidated net profit rose 46% to Rs 610 crore on 9.1% growth in gross revenue to Rs 21874 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 29 July 2016.

L&Ts consolidated order book increased by 8% on year-on-year (YoY) basis to Rs 2.57 lakh crore as on 30 June 2016. International order book constituted 29% of the total order book.

On future business outlook, L&T said that on the international front, the company will continue to target select prospects in the space of core infrastructure and oil & gas sector in the Middle East, Africa and other neighboring countries. The company said it has recently finalised its strategic plan for five years with a focus on profitable growth. L&T said it remains well placed to benefit from emerging opportunities with its execution capabilities and leadership position in various sectors.

ICICI Banks net profit fell 24.99% to Rs 2232.35 crore on 6.06% increase in total income to Rs 16759.51 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 29 July 2016.

The banks gross non-performing assets (NPAs) stood at Rs 27193.58 crore as on 30 June 2016 as against Rs 26221.25 crore as on 31 March 2016 and Rs 15137.61 crore as on 30 June 2015. The ratio of gross NPAs to gross advances stood at 5.87% as on 30 June 2016 as against 5.82% as on 31 March 2016 and 3.68% as on 30 June 2015. The ratio of net NPAs to net advances stood at 3.35% as on 30 June 2016 as against 2.98% as on 31 March 2016 and 1.58% as on 30 June 2015. The banks provisions and contingencies (excluding tax provisions) rose 163.19% to Rs 2514.52 crore in Q1 June 2016 over Q1 June 2015. Provision coverage ratio of the bank was at 57.1% as on 30 June 2016.

The bank said it continued to achieve robust growth in current and savings account (CASA) deposits. ICICI Banks total CASA deposits increased by 18% to Rs 191348 crore as on 30 June 2016 over 30 June 2015. The banks CASA ratio was 45.1% at 30 June 2016 compared to 45.8% at 31 March 2016 and 44.1% at 30 June 2015. The average CASA ratio was at 41.7% in Q1 June 2016 compared to 40.5% in Q4 March 2016 and 41.1% in Q1 June 2015. Total deposits increased by 15% to Rs 424086 crore at 30 June 2016 over 30 June 2015. The bank had a network of 4,451 branches and 14,073 ATMs at 30 June 2016.

On a consolidated basis, the banks net profit fell 22.17% to Rs 2515.85 crore on 9.03% increase in total income to Rs 24483.75 crore in Q1 June 2016 over Q1 June 2015.

Nestle India reported net profit of Rs 230.84 crore in Q2 June 2016 as against net loss of Rs 64.40 crore in Q2 June 2015. Net sales rose 16.66% to Rs 2256.09 crore in Q2 June 2016 over Q2 June 2015. Results for the quarter and half year ended 30 June 2016 are not entirely comparable with the results of the corresponding periods due to Maggi noodles issue in 2015, the company said in a statement.

The company said its net sales jumped on a base impacted by Maggi noodles issue in 2015. The companys domestic sales increased by 17.5% and exports increased by 7% in Q2 June 2016 over Q2 June 2015.

Suresh Narayanan, chairman and managing director of Nestle India, said it is heartening to see Maggi Noodles rebound to market leadership of about 57% after its reintroduction last November. To harness growth opportunities across all its categories, the company has unleashed significant innovation and renovation efforts by launching over 25 new products in the last couple of months. These launches and more to follow in due course of time, will contribute to the future growth of Nestle India, he added. The result was announced after market hours on Friday, 29 July 2016.

Shares of public sector oil marketing companies (PSU OMCs) and automobile makers will be watched after petrol price was cut by Rs 1.42 a litre and diesel by Rs 2.01 per litre in Delhi (including state levies) with corresponding price revision in other states. The price changes were effective from midnight of 31 July 2016. Petrol will cost Rs 61.09 a litre in Delhi as compared to Rs 62.51 a litre earlier. Similarly, diesel will cost Rs 52.27 per litre as against Rs 54.28 earlier.

NTPC said that its board approved issuing secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (bonds/NCDs) upto Rs 15000 crore. The announcement was made after market hours on Friday, 29 July 2016.

Advanced Enzyme Technologies (AETL) makes its debut on the secondary equity markets today, 1 August 2016. The company had priced its initial public offer (IPO) at Rs 896 per share -- the top end of the Rs 880-896 per share price band for the IPO. The IPO had received a strong response from investors and the issue was heavily oversubscribed. The IPO of AETL was a combination of a fresh issue of shares and offer from promoter group selling shareholders, investor group selling shareholders and other selling shareholders. AETL is the largest Indian enzyme company engaged in the research & development, manufacturing and marketing of more than 400 proprietary enzyme products developed from 60 indigenous enzymes. AETL ranks among the top 15 global companies in terms of enzyme sales and has the second highest market share domestically, next only to the worlds largest enzyme company Novozymes. AETL is an integrated company with presence across the enzyme value chain, covering the entire range of activities from research & development, commercial-scale manufacturing, to marketing of enzyme products and customized enzyme solutions which enables AETL to be cost effective and competitive.

From the proceeds of the fresh issue, AETL has earmarked Rs 40 crore for investment in Advanced Enzymes USA, a wholly owned subsidiary of the company, for repayment of certain loans availed by Advanced Enzymes USA. The rest Rs 10 crore is for general corporate purpose.

After three years of sluggish performance, AETL posted strong growth in the year ended 31 March 2016 (FY 2016). Consolidated net profit rose 57% to Rs 78.44 crore on 32% growth in net sales to Rs 293.76 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

Motherson Sumi Systems said that its board will meet on 3 August 2016 to discuss and evaluate various fund raising options, including capital issuance. The announcement was made on Saturday, 30 July 2016.

Bharat Petroleum Corporation (BPCL) has entered into an agreement for acquiring a 21% stake (on a fully diluted basis) in the share capital of FINO PayTech for a consideration of Rs 251 crore in an all cash deal. The definitive agreements to this effect were signed on 29 July 2016 and the transaction is expected to be completed by 31 December 2016. FINO PayTech is one of the entities to have been granted an in principle approval by the Reserve Bank of India (RBI) for setting up a Payments Bank. FINO Pay Tech is a payments technology solutions provider to banks, financial institutions and MFIs. The result was announced after market hours on Friday, 29 July 2016.

Powered by Capital Market - Live News

Eicher Motors may gain on strong Q1 results
Jul 29,2016

Automobiles maker Eicher Motors consolidated net profit surged 58.61% to Rs 376.29 crore on 42.81% growth in total income to Rs 1602.51 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 28 July 2016.

Earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to 30.2% in Q1 June 2016 from 26.1% in Q1 June 2015.

Commenting on the companys performance Mr. Siddhartha Lal, Managing Director & CEO Eicher Motors said, that Eicher Motors has started the new financial year on strong note and reported its best ever quarter results registering 42% growth and posting the highest ever quarterly income from operations at Rs 1556 crore for Q1 June 2016. In this quarter, EML also recorded its highest ever and best-in-class EBIDTA margin at 30.2%, he added.

Commenting on Royal Enfields performance, Siddhartha said, Royal Enfield has maintained its strong volume growth in Q1 June 2016 and the company continues to take more orders than monthly supply. The response to Himalayan- Royal Enfields first adventure-tourer, has been extremely encouraging and it is now available for booking across the country. The company continues to expand footprint in India with 566 dealerships now open across the country. The companys immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally, he added.

In Q1 June 2016, Royal Enfield continued with its focus on the overseas markets. In June 2016, Royal Enfield opened its store in Manila, Philippines with its global retail identity. Philippines is among the largest two-wheeler markets in the world. With a large chunk of the population using commuter motorcycles, there is an enormous potential for customers to upgrade to mid-sized motorcycles, a segment in which Royal Enfield operates.

Commenting on VE Commercial Vehicles (VECV)s performance Siddhartha said that VECV demonstrated an impressive performance in Q1 June 2016 with sales of 16,071 units recording a growth of 32.5% over Q1 June 2015. VECV also increased its overall market share to 15.1% in Q1 June 2016, as compared to 13.2% recorded in Q1 June 2015. VECV continues to do well in the sub 5-ton category with the introduction of Pro 1049 where it is currently selling more than 100 trucks every month since its launch in the last quarter. Eicher Motors 50:50 joint venture with Polaris Industries, Eicher Polaris Private Ltd., through its product Multix is generating a lot of interest among its target customers. Multix is now present in 50 locations across 8 states and it continues to gain momentum in its target markets, he further added.

Eicher Motors owns the iconic Royal Enfield motorcycle business which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles Limited, designs, manufactures and markets reliable, fuel-efficient trucks and buses; and is leading the path in driving modernization in commercial transportation in India and other developing markets

ICICI Bank and Larsen & Toubro are set to announce Q1 results today, 29 July 2016.

UltraTech Cement said it participated in the auction of coal linkages for captive power plant sub-sector and won two linkages of 27,600 tons and 19,700 tons, respectively, from Dipka Mines (SCDG) in Chhattisgarh. The company said that both the linkages were at premium of Rs 150 over notified price of Rs 970 per ton. The company said it intends to participate in the future linkage auctions for its plants located strategically near the coal mines. The announcement was made after market hours yesterday, 28 July 2016.

Indian Bank said it raised Rs 600 crore under Basel III compliant Tier II Bonds on 28 July 2016 with a coupon of 8.10% per annum, tenor at 10 years and call option after completion of 5 years, on private placement basis. The credit rating assigned is CRISIL AAA/Negative and CARE AAA. The announcement was made after market hours yesterday, 28 July 2016.

On 8 March 2016, Indian Bank received an approval from its board for raising Rs 1100 crore in one or more tranches. Later on 31 March 2016, the bank announced raising Rs 500 crore under Basel III compliant Tier I bonds on 30 March 2016.

Manappuram Finance said it raised Rs 140 crore on 28 July 2016 by allotting 1,400 secured redeemable non-convertible debentures by way of private placement. The debentures have face value of Rs 10 lakh each. The announcement was made after market hours yesterday, 28 July 2016.

Muthoot Finances net profit rose 47.56% to Rs 270.26 crore on 13.85% increase in total income to Rs 1300.81 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 28 July 2016.

Shriram Transport Finance Company said it allotted 100 secured redeemable non-convertible debentures (NCD s) of face value of Rs 10 lakh each, aggregating to Rs 10 crore on private placement basis. The announcement was made after market hours yesterday, 28 July 2016.

Jaiprakash Associates said that the principal installment of Rs 33.33 crore and interest of Rs 2.92 crore that became due for payment on 25 April 2016 in respect of 11.75% Non Convertible Debentures, still remains unpaid. The announcement was made after market hours yesterday, 28 July 2016.

The board of Somany Ceramics has approved increasing investment in paid up share capital of Vintage Tiles to 50% from 26%. The board also approved expanding the companys current capacity from 2.99 million square metres (msm) per annum to 4.80 msm per annum for polished vitrified tiles (double charge). The announcement was made after market hours yesterday, 28 July 2016.

Take Solutions said that the securities issue committee of the board approved allotment of 1.08 crore equity shares of face value Re 1 each to eligible qualified institutional buyers (QIB) at the issue price of Rs 166.10 per equity share, aggregating to Rs 179.99 crore. The announcement was made after market hours yesterday, 28 July 2016.

L&T Infotechs consolidated net profit rose 3.3% to Rs 235.80 crore on 0.2% drop in revenue to Rs 1550 crore in Q1 June 2016 over Q4 March 2016. The result was announced after market hours yesterday, 28 July 2016.

Sanjay Jalona, Chief Executive Officer & Managing Directorsaid that with over 4% sequential growth in services revenue and close to 22% of companys projects in Digital technologies, the company has seen growth across verticals.

Powered by Capital Market - Live News

Bharti Airtel may decline after poor Q1 result
Jul 28,2016

On a consolidated basis, Bharti Airtels net income fell 30.8% to Rs 1462 crore on 7.9% increase in total revenues to Rs 25546 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 27 July 2016.

The consolidated revenues grew 8.4% to Rs 25546 crore in Q1 June 2016 over Q1 June 2015 on an underlying basis, adjusted for Africa divested operating unit and tower assets sale.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16.4% to Rs 9591 crore in Q1 June 2016 over Q1 June 2015. The EBITDA margin edged up to 37.5% in Q1 June 2016 from 34.8% in Q1 June 2015.

The company has adopted Indian Accounting Standards (Ind-AS) for its consolidated results effective 1 April 2016 with periods reinstated for like to like comparison.

Consolidated mobile data revenues grew by 34.1% to Rs 4640 crore in Q1 June 2016 over Q1 June 2015.

India revenues grew by 10.3% to Rs 19155 crore in Q1 June 2016 over Q1 June 2015. This was led by healthy growth of 9.1% in Mobile, 11.0% in Homes, 22.2% in Digital TV and 10.4% in Airtel Business on year-on-year (Y-o-Y) basis.

The company has realigned its India segment reporting in line with management reorganisation. Consequently, Airtel Business also now includes the erstwhile Corporate fixed line voice and fixed line data business which was hitherto reported with Telemedia segment. Mobile data revenues cross Rs 3500 crore and at Rs 3525 crore grew by 35.1% Y-o-Y, led by increase in the data customer base by 19.1% and traffic by 54.9%. Mobile broadband customers increased by 68.3% to 36.6 million from 21.7 million in the corresponding quarter last year. Data average revenue per user (ARPU) has moved up by Rs 21 Y-o-Y to Rs 202 in Q1 June 2016, led by 28.1% increase in usage per customer. Mobile Data revenues now contribute to 23.7% of Mobile India revenues vis-n++-vis 19.2% in the corresponding quarter last year.

Shares of Sun Pharmaceutical Industries (Sun Pharma) will be in focus. Sun Pharma including its subsidiaries or associate companies) and its wholly owned subsidiary and Almirall yesterday, 27 July 2016 announced a licensing agreement on the development and commercialization of tildrakizumab for psoriasis in Europe. Tildrakizumab is an investigational IL-23p19 inhibitor currently being evaluated in patients with moderate-to-severe plaque psoriasis. Under terms of the license agreement, Almirall will pay Sun Pharma an initial upfront payment of US $50 million. Phase-3 studies of tildrakizumab have recently been completed. Sun Pharma will be eligible to receive development and regulatory milestone payments and, additionally, sales milestone payments and royalties on net sales, the terms of which are confidential. Almirall will be able to lead European studies, and participate in larger Global clinical studies for psoriasis indication subject to the terms of the Sun Pharma - Merck agreements, as well as certain cost sharing agreements. Sun Pharma will continue to lead development of tildrakizumab for other indications, where Almirall will have right of first negotiation for certain indications in Europe. Additionally, the license agreement has a provision for possible co-promotion agreement at some point in the future, subject to certain conditions. The announcement was made before market hours today, 28 July 2016.

Seperately, Sun Pharmaceutical Industries said it signed an agreement with RPG Life Sciences on 27 July 2016 to divest seven prescription brands in India, owned by Sun Pharmaceutical Industries and its subsidiary, for a consideration of Rs 41 crore. The seven divested brands include brands used for treatment of respiratory-track infections, urological disorders, cardiovascular diseases and brands in health supplements segment. This divestment is subject to receipt of Competition Commission of Indias (CCI) approval. The announcement was made after market hours yesterday, 27 July 2016.

Asian Paints consolidated net profit after minority interest rose 17.9% to Rs 535 crore on 10.2% increase interest from operations to Rs 4082.10 crore in Q1 June 2016 over Q1 June 2015. Profit before depreciation, interest, and taxes (PBDIT) rose 20.9% to Rs 820.30 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 27 July 2016.

K.B.S. Anand, Managing Director & CEO, Asian Paints said that the decorative business segment India registered double digit growth during the quarter. Lower raw material prices led to improved margins. Industrial business registered good growth in the industrial liquid paints category for the companys joint venture (JV) AP-PPG while the other JV PPG-AP saw good demand in the auto original equipment manufacturers (OEM) and general industrial segment. The companys international business performed well, aided by good growth in markets like Nepal, UAE and Fiji. Both the segments in the home improvement category -- the Kitchen (Sleek) and Bath (ESS ESS) businesses -- delivered good topline growth in the quarter as compared to the previous year.

On a consolidated basis, Bajaj Holdings & Investments net profit fell 7.72% to Rs 565.84 crore on 27.35% decline in total income to Rs 119.92 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 27 July 2016.

Eicher Motors unveils its Q1 results on Thursday, 28 July 2016.

L&T Infotech (LTI) yesterday, 27 July 2016 announced a strategic partnership with GE Digital combining the companys diverse industrial capabilities with GEs Predix cloud-based operating system for the Industrial Internet. LTI and GE Digital will collaborate to develop innovative digital-industrial solutions powered by Predix analytics and real-time insights to enhance competitiveness and transform the way companies manage their assets and workforce. LTI and GE Digital will explore the concept of an Innovation Center to tap into their rich industry knowledge to quickly bring to market scalable digital solutions based on reallife scenarios.

NHPC said that the Unit #1 of Parbati- III power station which was shut down since 28 March 2015 has been restored on 26 July 2016. The announcement was made after market hours yesterday, 27 July 2016.

Powered by Capital Market - Live News

Ambuja Cements may gain after strong Q2 result
Jul 27,2016

Ambuja Cements net profit rose 76.5% to Rs 399.51 crore on 2.44% growth in total income to Rs 2677.93 crore in Q2 June 2016 over Q2 June 2015. The result was announced after market hours yesterday, 26 July 2016.

Ambuja Cements operating earnings before interest, tax, depreciation and amortization (EBITDA) rose 56.5% to Rs 601 crore in Q2 June 2016 over Q2 June 2015. Cement sales volumes fell 2% to 5.76 million tonnes in Q2 June 2016 over Q2 June 2015.

In its outlook, Ambuja Cements said that post monsoon construction activities are likely to pick up. The medium to long term outlook for cement demand remains positive considering above normal monsoon forecast this year and governments focus on housing, concrete roads, smart cities and infrastructure development, Ambuja Cements said. The company will continue to focus on improving operational efficiencies, it said.

Bharti Infratels consolidated net profit rose 70.9% to Rs 756.20 crore on 4.3% growth in total income to Rs 1468.70 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.

Akhil Gupta, Chairman, Bharti Infratel said that Indian telecom industry is going through consolidation, and the company believes that this would be good for the industry in the long run as the sector would require large investments by the operators in future to cater to the ever increasing data demand. Bharti Infratel is also seeing some early signs of implementation of the Governments initiative on Smart City which the company believes would provide opportunities to infrastructure companies like itself. Bharti Infratel and Indus Towers being the leaders are fully geared to serve customers demand and to look at the new opportunities coming up on the infrastructure front, Akhil Gupta said.

Tata Steel before market hours today, 27 July 2016 announced that Qun++bec supports the implementation of a Tata Steel Minerals Canada (TSMC) investment project in Schefferville. The Deputy Premier and Minister responsible for Small and Medium Enterprises, Regulatory Streamlining and Regional Economic Development, Lise Thn++riault and the Minister of Energy and Natural Resources and Minister responsible for the Plan Nord and Minister responsible for the North Shore Region, Pierre Arcand, announced, on behalf of the Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, Dominique Anglade, the award of a government financial contribution of C $175 million to TSC to support the achievement at Schefferville of a direct shipping iron ore project (DSO project) in which Tata Steel Group has invested an amount in excess of C $1 billion. The financial contribution includes equity stake of $125 million through the Capital Mining Hydrocarbons Fund and a loan of $50 million from Investissement Qun++bec, acting as an agent of the Government. TSMC, founded in 2010, is an indirect subsidiary of Tata Steel, with equity participation from New Millennium Iron Corp. (NML), a TSX listed company headquartered in Montreal, to develop the DSO deposits located in Quebec and Newfoundland and Labrador. TSMC forecasts annual production of over 6 million tonnes of iron ore.

United Spirits net profit rose 277.3% to Rs 43.80 crore on 9.6% growth in total income to Rs 2061.90 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.

IDFCs consolidated net profit fell 28.7% to Rs 181.21 crore on 7.6% growth in total income to Rs 2360.58 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.

IDFC said that the result for the Q1 June 2016 is not comparable with Q1 June 2015 results. According to the Scheme of Arrangement between the company and IDFC Bank and their respective shareholders and creditors and on receipt of final banking licence by IDFC Bank for commencement of banking operations, the demerger has been recorded with effect from 1 October 2015. Post transfer of the financing undertaking to IDFC Bank, IDFC is mainly an investment company, with minimal operations.

Bajaj Finservs consolidated net profit rose 15.1% to Rs 537.51 crore on 31.7% growth in total income to Rs 2911.94 crore in Q1 June 2016 over Q1 June 2015. The result was announced at fag end of the days trading session yesterday, 26 July 2016.

Bharti Airtel, HDFC, Asian Paints, Yes Bank and Bajaj Auto are scheduled to unveil Q1 June 2016 results today, 27 July 2016.

Zee Entertainment Enterprises (Zee) consolidated net profit rose 21.76% to Rs 216.96 crore on 14.74% increase in total income to Rs 1531.80 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.

Advertising revenues rose 19.2% to Rs 912 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic advertising revenues stood at Rs 841.50 crore while international advertising revenues stood at Rs 70.50 crore. Subscription revenues rose 14.2% to Rs 528.20 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic subscription revenues stood at Rs 417.90 crore while international subscription revenues stood at Rs 110.30 crore.

Consolidated operating revenues rose 18.5% to Rs 1571.60 crore in Q1 June 2016 over Q1 June 2015.

Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 44.1% to Rs 453.20 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin rose sharply to 28.83% in Q1 June 2016 from 23.71% in Q1 June 2015.

The company has adopted Indian Accounting Standards (Ind-AS) reporting methodology for reporting its financials commencing Q1 June 2016. Like-to-like financials for previous quarters (Q1 June 2015) have been restated accordingly.

Delta Corp said it has signed a leave and license agreement for premises in the Denzong Regency Hotel, Gangtok, Sikkim, to operate a casino. Delta has also obtained a provisional license from the Government of Sikkim for the same. The company is in the process of refurbishing and getting the premises casino ready which should be completed in the next three months.

Delta, in pursuing its strategy of expanding its gaming imprint will now have a presence in Sikkim, operating a live gaming casino offering approximately 150 gaming positions, thereby catering to the Eastern region market. The company will thus, in addition to three offshore and one onshore casino in Goa, will strengthen its presence by adding this Casino in Sikkim, making it a dominant and formidable player in the Indian gaming and entertainment space, the company said in a statement. The announcement was made after market hours yesterday, 26 July 2016.

3i Infotech said it has allotted 6.37 lakh equity shares on 26 July 2016 against conversion of the foreign currency convertible bond (FCCBs) of principal amount of $207,000. The announcement was made after market hours yesterday, 26 July 2016.

Sutlej Textiles and Industries said that its board will meet on Friday, 29 July 2016, to consider raising funds through issuance of securities including equity shares or equity linked securities, including through a qualified institutional placement and/or issuance of equity shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares, and/or other securities, with or without warrants, to eligible investors. The announcement was made after market hours yesterday, 26 July 2016.

Powered by Capital Market - Live News

Maruti Suzuki India, Dr Reddys Laboratories in focus ahead of Q1 results
Jul 26,2016

Maruti Suzuki India, Zee Entertainment Enterprises, Bharti Infratel and Dr Reddys Laboratories are scheduled to unveil Q1 results today, 26 July 2016. Cement makers ACC and Ambuja Cements will unveil Q2 June 2016 results today, 26 July 2016.

Tata Motors said it is planning to offer the fourth series of its rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. In this regard, the company is holding a meeting of its duly constituted committee of the board on 28 July 2016. The proposal to issue NCDs is pursuant to the approval of the shareholders passed vide special resolution at the 70th annual general meeting of the company held on 13 August 2015 and the board of directors resolution passed at its meeting held on 30 March 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Canara Banks net profit fell 52.19% to Rs 228.95 crore on 3.81% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 25 July 2016.

Central Bank of India said that the capital raising committee of the board of directors of the bank at their meeting held on 25 July 2016 approved raising of equity capital by issuance and allotment of upto 12.38 crore equity shares of the face value of Rs 10 each at the issue price of Rs 104.76 per equity share, aggregating to Rs 1297 crore to President of India (Government of India) on preferential basis. The capital raising committee also decided to hold an extra-ordinary general meeting (EGM) of shareholders on 18 August 2016 to consider the issue price for the proposed allotment. The announcement was made after trading hours yesterday, 25 July 2016.

PNC Infratech has been awarded a project involving four laning of Etah to Kasganj road in Uttar Pradesh for a contract value of Rs 232.91 crore. The company received the Letter of Award (LoA) from Public Works Department (PWD), Uttar Pradesh, on 25 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Sunil Hitech Engineers scheduled a meeting of the board of directors of the company on 10 August 2016, to consider 10-for-1 stock split. The announcement was made after trading hours yesterday, 25 July 2016.

Sintex Industries said that its board will meet on Thursday, 28 July 2016, to consider rights issue of equity shares. The board will also consider issuing unsecured/secured redeemable non-convertible debentures/bonds aggregating up to Rs 1000 crore on a private placement basis, in one or more tranches. The announcement was made after trading hours yesterday, 25 July 2016.

Adani Power said that the convertible warrant holders, to whom the warrants were allotted in the month of May 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares.

Consequently, management committee of the board of directors of the company at its meeting held on 25 July 2016 has made allotment of total 2.75 crore equity shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to the convertible warrant holders.

Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 63.738% of the enhanced paid up equity share capital of the company. The announcement was made after trading hours yesterday, 25 July 2016.

MOIL said it has received approval from the Government of Madhya Pradesh (MP) for mining lease of over 76.409 hectare land in Bharveli Awalajhari village of MP. The company is taking necessary steps to register and execute mining lease at the earliest possible. The announcement was made after trading hours yesterday, 25 July 2016.

Nava Bharat Ventures said that Maamba Collieries (MCL), the step-down subsidiary in Zambia, has synchronized the first 150 megawatts (MW) unit of the 300 MW power plant with the Zambian Grid. The synchronization of the second 150 MW unit will follow soon while stabilization and commercial operations of the two units will be pursued in the coming weeks. The announcement was made after trading hours yesterday, 25 July 2016.

Manappuram Finance said it is proposes to issue secured redeemable non-convertible debentures for Rs 100 crore, with a green shoe option of Rs 50 crore, aggregating to Rs 150 crore on private placement basis. Proposed date of allotment for the above issue will be on 28 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Powered by Capital Market - Live News

Maruti, Dr Reddys Lab in focus ahead of Q1 results
Jul 26,2016

Maruti Suzuki India, Zee Entertainment Enterprises, Bharti Infratel and Dr Reddys Laboratories are scheduled to unveil Q1 results today, 26 July 2016. Cement makers ACC and Ambuja Cements will unveil Q2 June 2016 results today, 26 July 2016.

Tata Motors intends to raise Rs 400 crore from the issue of rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. In this regard, the company is holding a meeting of its duly constituted committee of the board on 28 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Canara Banks net profit fell 52.19% to Rs 228.95 crore on 3.81% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 25 July 2016.

Central Bank of India said that the capital raising committee of the board of directors of the bank at their meeting held on 25 July 2016 approved raising of equity capital by issuance and allotment of upto 12.38 crore equity shares of the face value of Rs 10 each at the issue price of Rs 104.76 per equity share, aggregating to Rs 1297 crore to President of India (Government of India) on preferential basis. The capital raising committee also decided to hold an extra-ordinary general meeting (EGM) of shareholders on 18 August 2016 to consider the issue price for the proposed allotment. The announcement was made after trading hours yesterday, 25 July 2016.

PNC Infratech has been awarded a project involving four laning of Etah to Kasganj road in Uttar Pradesh for a contract value of Rs 232.91 crore. The company received the Letter of Award (LoA) from Public Works Department (PWD), Uttar Pradesh, on 25 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Sunil Hitech Engineers scheduled a meeting of the board of directors of the company on 10 August 2016, to consider 10-for-1 stock split. The announcement was made after trading hours yesterday, 25 July 2016.

Sintex Industries said that its board will meet on Thursday, 28 July 2016, to consider rights issue of equity shares. The board will also consider issuing unsecured/secured redeemable non-convertible debentures/bonds aggregating up to Rs 1000 crore on a private placement basis, in one or more tranches. The announcement was made after trading hours yesterday, 25 July 2016.

Adani Power said that the convertible warrant holders, to whom the warrants were allotted in the month of May 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares.

Consequently, management committee of the board of directors of the company at its meeting held on 25 July 2016 has made allotment of total 2.75 crore equity shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to the convertible warrant holders.

Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 63.738% of the enhanced paid up equity share capital of the company. The announcement was made after trading hours yesterday, 25 July 2016.

MOIL said it has received approval from the Government of Madhya Pradesh (MP) for mining lease of over 76.409 hectare land in Bharveli Awalajhari village of MP. The company is taking necessary steps to register and execute mining lease at the earliest possible. The announcement was made after trading hours yesterday, 25 July 2016.

Nava Bharat Ventures said that Maamba Collieries (MCL), the step-down subsidiary in Zambia, has synchronized the first 150 megawatts (MW) unit of the 300 MW power plant with the Zambian Grid. The synchronization of the second 150 MW unit will follow soon while stabilization and commercial operations of the two units will be pursued in the coming weeks. The announcement was made after trading hours yesterday, 25 July 2016.

Manappuram Finance said it is proposes to issue secured redeemable non-convertible debentures for Rs 100 crore, with a green shoe option of Rs 50 crore, aggregating to Rs 150 crore on private placement basis. Proposed date of allotment for the above issue will be on 28 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Powered by Capital Market - Live News

Axis Bank may decline after poor Q1 outcome
Jul 25,2016

Axis Banks net profit fell 21.37% to Rs 1555.53 crore on 13.22% growth in total income to Rs 13852.18 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016. The fall in net profit was due to a sharp surge in provisions and contingencies. Provisions and contingencies jumped 88.73% to Rs 2117.17 crore in Q1 June 2016 over Q1 June 2015. On a sequential basis, provisions and contingencies surged 81.21%. The banks net interest income rose 11.36% to Rs 4516.92 crore in Q1 June 2016 over Q1 June 2015. The core operating profit rose 3.27% to Rs 3558.19 crore in Q1 June 2016 over Q1 June 2015. The figure of core operating profit is arrived at after deducing trading income from operating profit.

On absolute basis, Axis Banks gross non-performing assets (NPA) edged higher to Rs 9553.17 crore as on 30 June 2016 from Rs 6087.51 crore on 31 March 2016 and Rs 4251.18 crore as on 30 June 2015. The ratio of gross NPA to gross customer assets edged higher to 2.54% as on 30 June 2016 from 1.67% as on 31 March 2016 and 1.38% as on 30 June 2015. The ratio of net NPA to net customer assets edged higher to 1.08% as on 30 June 2016 from 0.7% as on 31 March 2016 and 0.48% as on 30 June 2015.

Axis Bank attributed increase gross and net NPA to slippages from its watch list loans. As on 30 June 2016, loans outstanding on the banks watch list reduced 10% over the previous quarter and stood at Rs 20295 crore. The reduction in the watch list primarily represents slippages to NPAs amounting to Rs 2680 crore, which comprises 92% of the total corporate credit slippages. The banks provision coverage ratio declined to 69% as on 30 June 2016 from 72% as on 31 March 2016.

The cumulative value of net restructured assets as on 30 June 2016 stood at Rs 7363 crore, constituting 1.99% of net customer assets, compared to Rs 8072 crore, constituting 2.25% of net customer assets as on 31 March 2016.

The banks advances grew 21% year-on-year (YOY) to Rs 3.44 lakh crore as on 30 June 2016. Retail advances grew 24% YOY and stood at Rs 1.43 lakh crore, constituting 41% of the net advances of the bank. Corporate credit grew 21% YOY and stood at Rs 1.58 lakh crore, constituting 46% of net advances. SME advances grew 13% YOY and stood at Rs 43611 crore as on 30 June 2016. Axis Bank said that the bank remains well capitalized to pursue growth opportunities.

Vedanta and Cairn India will be in focus after Vedanta sweetened the terms of the deal for the merger of Cairn India with Vedanta. As per the revised terms of the merger deal, the public shareholders of Cairn India will receive one equity share of Vedanta for each share held in the company. Additionally, the public shareholders of Cairn India will get four 7.5% redeemable preference shares (RPS) of Vedanta of the face value of Rs 10 each with tenure of 18 months for each share held in Cairn India. As per the original terms of the deal announced in June 2015, Cairn India shareholders were to get one equity share of Vedanta for each share held in the company and one 7.5% redeemable preference shares (RPS) of Vedanta of the face value of Rs 10 each with tenure of 18 months for each share held in Cairn India. The recent commodity price environment has further strengthened the strategic rationale for the merger, the two Vedanta group companies said in a joint statement.

Following completion of the transaction, Vedanta plc ownership in Vedanta is expected to decrease to 50.1% from its current 62.9% shareholding. Cairn India minority shareholders will own 20.2% and Vedanta minority shareholders will own 29.7% stake in the merged entity. Sudhir Mathur, CFO and Acting CEO of Cairn India said in a statement that Cairn India shareholders will benefit from exposure to a diversified portfolio of world-class, low cost, long-life assets of Vedanta. Tom Albanese, CEO of Vedanta said that the strategic rationale for merging Vedanta and Cairn India remains highly compelling. Diversified resources companies have delivered superior returns for shareholders historically, Albanese said.

Rallis Indias consolidated net profit rose 310.9% to Rs 174.20 crore on 45.4% rise in total income to Rs 610.31 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016.

Tata Metaliks consolidated net profit rose 25.6% to Rs 34.44 crore on 1.3% fall in total income to Rs 315.28 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016.

Hinduja Ventures net profit rose 1.3% to Rs 24.21 crore on 132.5% rise in total income to Rs 61.91 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016.

Meanwhile, Hinduja Ventures said that the transactions involving purchase of 43.03 lakh equity shares and 7.03 crore preference shares of IndusInd Media and Communications (IMCL), a subsidiary of the company from Grant Investrade (GIL), a wholly owned subsidiary of the company, has been completed on 22 July 2016. The announcement was made after market hours on Friday, 22 July 2016.

Cyient said that the company has set up a wholly owned subsidiary at Israel name called Cyient Israel India. The announcement was made after market hours on Friday, 22 July 2016.

Gujarat Fluorochemicals said that the company has entered into an agreement for sale of its stake in its Joint Venture Company Xuancheng Hengyuan Chemical Technology Company, China. Accordingly, Xuancheng Hengyuan Chemical Technology Company, China will cease to be a Joint Venture Company of Gujarat Fluorochemicals on receipt of approval from the relevant regulatory authorities and transfer of the companys shareholding in the Joint Venture Company. The announcement was made after market hours on Friday, 22 July 2016.

IL&FS Engineering and Construction Company has received a Letter of Acceptance (LoA) from Nagpur Metro Rail Corporation, a Joint Venture of Government of India & Government of Maharashtra, for Rs 532.67 crore Nagpur Metro Rail Project. The project involves construction of Seven Elevated Metro Stations, and Three At-Grade Stations. The Project is to be completed in 110 weeks from the date of issue of LOA. The announcement was made after market hours on Friday, 22 July 2016.

Powered by Capital Market - Live News

ITC may gain on good Q1 results
Jul 22,2016

Cigarette major ITCs net profit rose 10.09% to Rs 2384.67 crore on 8.61% increase in total income to Rs 13673.58 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

Cairn Indias consolidated net profit fell 28.27% to Rs 359.55 crore on 21.57% decline in total income to Rs 2288.71 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

NHPC announced after market hours yesterday, 21 July 2016 that it has signed a memorandum of understanding (MOU) yesterday, 21 July 2016 with Bharat Heavy Electricals (Bhel) for undertaking of Hydro Power Projects in overseas markets. As per the MOU, NHPC and Bhel will look after the civil and electro mechanical package respectively.

HDFC announced after market hours yesterday, 21 July 2016 that it has completed the issue of rupee denominated bonds aggregating to Rs 3000 crore yesterday, 21 July 2016.

ONGC will be in focus. ONGC Videsh Vankorneft, an indirect wholly owned subsidiary of ONGC Videsh has raised $1 billion through debt instruments issued in global markets. The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026. The notes are guaranteed by ONGC and have been assigned a Baa2 rating by Moodys and BBB- by S&P. The transaction is the largest achieved by an Indian insurer in 2016 and the First Dual tranche insurance from India in 2016, ONGC Videsh is a wholly owned subsidiary of ONGC. ONGC intends to use the notes proceeds to refinance a part of the bridge loan availed for the acquisition of a 15% equity interest in JSC Vankorneft, Russia. The announcement was made after trading hours yesterday, 21 July 2016.

Biocons consolidated net profit rose 34.46% to Rs 166.60 crore on 22.72% rise in total income to Rs 1023,.30 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

Axis Bank is scheduled to announce its Q1 result today, 22 July 2016.

Powered by Capital Market - Live News

Hindustan Zinc may decline on weak Q1 results
Jul 21,2016

Hindustan Zincs net profit fell 46.55% to Rs 1036.86 crore on 25.45% drop in total income to Rs 3140.74 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 20 July 2016.

Ambuja Cements will be in focus. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, yesterday, 20 July 2016 approved the proposal for Ambuja Cements for acquisition of 24% shares in its holding company-Holcim (India) from Holderind Investment and subsequent reverse merger through a share swap. This would entail outflow of Rs 3500 crore.

These transactions would enable Lafarge Holcim group to create a linear corporate structure (with Ambuja and ACC becoming parent and subsidiary) with a view to harvest significant synergies from India operations. This will further strengthen all India footprints, debt free balance sheet and cash flow generation, bringing in huge prospects for further expansion and creation of employment opportunities.

Mahindra & Mahindra (M&M) turns ex-dividend today, 21 July 2016 for dividend of Rs 12 per share for the year ended 31 March 2016 (FY 2016).

Larsen & Toubro Infotech (L&T Infotech) makes its debut on the secondary equity markets today, 21 July 2016. The company had priced its initial public offer (IPO) at Rs 710 per share -- the top end of the Rs 705-710 per share price band for the IPO. The IPO received strong response from investors. The companys promoter and engineering & construction major L&T sold a part of its stake through the IPO of L&T Infotech.

L&T Infotech offers an extensive range of IT services to clients in diverse industries such as banking and financial services, insurance, energy and process, consumer packaged goods, retail and pharmaceuticals, media and entertainment, hi-tech and consumer electronics and automotive and aerospace. Based on consolidated financial performance, the companys net profit rose 19.89% to Rs 922.17 crore on 17.45% growth in revenue from operations to Rs 5847.06 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

Cairn India, HDFC Bank, and Kotak Mahindra Bank will announce Q1 results today, 21 July 2016.

Central Bank of India announced after market hours yesterday, 20 July 2016 that a meeting of the Capital Raising Committee of the Board of Directors of the bank will be held on 25 July 2016 to consider and approve raising of additional equity capital upto Rs 1297 crore by issuance and allotment of equity shares of the face value of Rs 10 each at such issue price including premium per equity share as may be determined on preferential basis subject to approval of Reserve Bank of India, shareholders and other statutory authorities (if any).

HPCL announced after market hours yesterday, 20 July 2016 that the Board of Directors of the company at its meeting held on 20 July 2016, have considered and recommended increase in authorised share capital to Rs 2500 crore and further recommended Capitalisation of Reserves and issue of fully paid bonus shares in the ratio of 2 bonus shares for every 1 existing equity share.

HPCL also announced that the Board of Directors of the company at its meeting held on 20 July 2016, have approved Visakh refinery capacity expansion from 8.33 MMTPA to 15 MMTPA with residue up-gradation facility meeting BS VI fuel specification compliance under Visakh Refinery Modernization Project (VRMP). The project involves an investment of Rs 20928 crore and is expected to be mechanically completed within 48 months from the date of approval.

IIFL Holdings announced after market hours yesterday, 20 July 2016 that the board of directors of the company at its meeting held on 20 July 2016 approved the proposed investment of about Rs 1000 crore by CDC Group Plc, UK [CDC] in the wholly owned subsidiary of the company namely India Infoline Finance, a systemically important Non Banking Financial Company [NBFC] of the Group. The investment is by way of issue and allotment of equity shares and compulsorily convertible preference shares [CCPS] subject to necessary regulatory approvals;

The board approved entering into an Investment Agreement amongst the company, India Infoline Finance and CDC in relation to the aforesaid investment. Upon the consummation of the transaction, CDC will hold around 15% equity stake in India Infoline Finance on a fully diluted basis i.e. assuming full conversion of CCPS and maximum possible dilution due to vesting of all outstanding stock options.

NHPC announced after market hours yesterday, 20 July 2016 that a meeting of the board of directors of the company will be held on tomorrow, 22 July 2016, to consider and approve raising of corporate bonds upto Rs 4500 crore till September 2017, on private placement basis subject to shareholders approval through special resolution.

Powered by Capital Market - Live News

Wipro may drop on weak Q1 results
Jul 20,2016

Wipros consolidated net profit attributable to equity holders fell 6.38% to Rs 2051.80 crore on 11.12% growth in gross revenue to Rs 13599.20 crore in Q1 June 2016 over Q1 June 2015. The results are as per International Financial Reporting Standards (IFRS). Revenue from IT services business rose 2.6% to $1,930.8 million in Q1 June 2016 over Q4 March 2016. Non-GAAP constant currency IT services segment revenue in dollar terms grew 2% sequentially and 9.5% on year-on-year basis. The company announced the first quarter results after trading hours yesterday, 19 July 2016.

Wipro expects a muted 0.01% to 0.99% growth in revenue from IT services business at between $1,931 million to $1,950 million in Q2 September 2016 over Q1 June 2016. Wipros management expects the trajectory of growth to build gradually over the course of the year based on execution with regard to the companys strategic themes and as the company makes progress towards achieving a sustainable growth trajectory.

Meanwhile, Wipro and Viteos Group have cancelled the definitive agreement signed in December 2015 whereby Wipro had agreed to acquire Viteos Group. Wipro said in a statement that both the parties have decided not to proceed with the deal due to inordinate delays in completion of closing conditions that exceeded the target closing date under the terms of the agreement.

Shree Cement announced after trading hours yesterday, 19 July 2016 that the company has completed the up-gradation of preheater of clinker line of Unit-I at Beawar (Rajasthan) on 15 July 2016. Consequently, the clinker capacity of Unit-I stands increased from 1.1 million tonnes per annum (MTPA) to 1.4 MTPA.

Sasken Communication Technologies, Crompton Greaves, Hindustan Zinc, Gammon India among others will announce quarterly results today, 20 July 2016.

DLF said before market hours today, 20 July 2016 that it has been jointly decided by DLF and Ridgewood Holdings to realign the current shareholding arrangement in the JV companies in order to maintain continued focus of future development of various projects. Given the current strategy coupled with market conditions, DLF is currently focused on select projects in certain micro markets.

As a part of strategic objectives, DLF through its wholly-owned subsidiary DLF Home Developers had entered into joint venture agreements with Ridgewood Holdings, which term shall include its affiliates who acquired shares in accordance with the terms of the definitive documents for development of seven residential projects in the cities of Bangalore, Chennai, Kochi and Indore.

Indiabulls Housing Finance said before market hours today, 20 July 2016 that the company proposes to issue 250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 25 crore plus Greenshoe Option, on private placement basis.

Karnataka Bank turns ex-dividend today, 20 July 2016 for dividend of Rs 5 per share for the year ended 31 March 2016 (FY 2016).

Crisils consolidated net profit rose 7.53% to Rs 69.81 crore on 13.88% rise in total income to Rs 387.09 crore in Q2 June 2016 over Q2 June 2015. The company announced the first quarter results after trading hours yesterday, 19 July 2016.

Hindalco Industries announced after market hours yesterday, 19 July 2016 that it has received Reserve Bank of Indias approval and has accepted the offer in connection with off-market takeover offer made by METALS X to acquire shares of Aditya Birla Minerals, a subsidiary of Hindalco Industries under the relevant Laws of Australia,.

Anant Raj announced after market hours yesterday, 19 July 2016 that the board of directors of the company at its meeting held on 19 July 2016, has considered and approved the composite scheme of arrangement of demerger of Real Estate Division (Demerged Undertaking of Anant Raj Agencies Private Limited (ARAPL/ demerged company/amalgamating company) into Tauras Promoters & Developers Private (TPDPL/resulting company and subsequent amalgamation of remaining ARAPL with the company. It has also approved the demerger of Project Division (demerged undertaking) of the company into Anant Raj Global Limited (ARGL/resulting company) (a wholly owned subsidiary of the company, under incorporation) and subsequent listing of ARGL at BSE (BSE) and National Stock Exchange of India (NSE).

Powered by Capital Market - Live News

HUL may gain on decent Q1 results
Jul 19,2016

FMCG major Hindustan Unilever (HUL)s net profit rose 9.79% to Rs 1173.90 crore on 3.36% growth in total income to Rs 8235.77 crore in Q1 June 2016 over Q1 June 2015. The result hit the market during the fag end of trading hours yesterday, 18 July 2016.

During the quarter, against the backdrop of a challenging environment where market growth further slowed down in both volume and value terms, the business continued to track ahead of market with sustained margin improvement. Domestic Consumer business growth was at 4%, with 4% underlying volume growth and operating margin expanded by 70 bps. The growth was broad based across the segments.

Lower input costs resulted in 100 bps reduction in Cost of Goods Sold. Brand investments were maintained at competitive levels across segments. Profit before interest and tax (PBIT) grew by 7% and PBIT margin improved by 70 bps in Q1 June 2016 over Q1 June 2015. Profit after tax before exceptional items, PAT (bei), grew by 6% to Rs.1128 crore in Q1 June 2016 over Q1 June 2015. Net Profit rose aided by a one-time write back of provision for pension benefits arising from plan amendments.

HUL also announced a key change in the Management Committee of the company. Punit Misra, currently Executive Director and Vice President, Sales and Customer Development, has decided to leave Hindustan Unilever to pursue an external opportunity. Srinandan Sundaram, currently Vice President, Skin Care, will take over from Punit as the Executive Director, Sales & Customer Development, and will join the HUL Management Committee. The change will be effective from 1 September 2016.

Separately, HUL has proposed to make an investment of about Rs 1000 crore towards the setting up of a new manufacturing unit in the vicinity of its existing factory premises in Doom Dooma, Assam. This investment is subject to receipt of requisite approvals and clearances. The new unit that is envisaged to be commissioned in early 2017, will augment the production capacity of Personal Care products for HUL.

HUL has a manufacturing facility in Doom Dooma Industrial Estate of Upper Assam. The facility was originally set up in 2001 and currently houses three manufacturing units that produce Personal Care products (shampoo, skin creams and toothpaste).

The Government of Assam has been looking at attracting investment into the state by offering favourable policies that encourage and incentivise companies to set up manufacturing units. With over 15 years of operating experience in the state and considering the support from the State Government and the local community, HUL has decided to set up the new manufacturing unit in Assam.

It is also intended to encourage suppliers to establish units for packing material supplies and it is expected that the new unit will lead to the creation of ancillary, logistics and warehousing opportunities within the region. The proposal is consistent with HULs commitment to Make in India and a reflection of its priority to invest for sustained growth. Given the attractive outlook that the Company sees in Personal Care, the additional capacity will support the growth ambition and enable the business better serve its consumers. HUL has a wide footprint of manufacturing operations with over 30 factories located across India.

UltraTech Cement and Wipro will announce Q1 results today, 19 July 2016.

Yes Bank announced before market hours today, 19 July 2016 that global credit rating agency, Moodys Investor Service, vide its credit opinion dated 18 July 2016, has maintained its long term rating on Yes Bank at Baa3/P-3 with stable outlook. Moodys has consistently maintained a rating of Baa3/P-3 with stable outlook since its initial coverage on the bank in November 2010.

JSW Energy announced after market hours yesterday, 18 July 2016 that the company has agreed to acquire the 500 MW thermal power plant located at Bina, District Sagar in the State of Madhya Pradesh from Jaiprakash Power Ventures. The company has agreed to consider acquisition of 100% equity in Minerals & Energy Swaziland (Pty) Limited.

Jaiprakash Power Ventures reported net loss of Rs 196.16 crore in Q1 June 2016 compared with net profit of Rs 66.96 crore in Q1 June 2015. Total income fell 39.96% to Rs 767.45 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 18 July 2016.

The results for Q1 June 2016 are in respect of 400 megawatts (MW) Jaypee Vishnuprayag H.E. Plant, 500 MW Jaypee Bina Thermal Power Plant, 1320 MW Jaypee Nigrie Super Thermal Power Plant (JNSTPP), Jaypee Nigrie Cement Grinding Unit and Amelia (North) Coal Mine. The Q1 June 2015 results also included operating results for 300 MW Baspa II H.E. Plant and 1091 MW Karcham Wangtoo H.E. Plant. The company concluded the sale of these plants to JSW from 1 September 2015, hence the figures of the current quarter/ period are not comparable with figures of the corresponding quarter/ period in the previous year. The company now has aggregate power generation capacity of 2220 MW comprising of Hydro (400 MW).

Tata Steel said it will seek shareholder approval at an annual general meeting (AGM) on 12 August 2016, to issue non-convertible debentures on private placement basis worth Rs 10000 crore. The announcement was made after market hours yesterday, 18 July 2016.

Dabur India announced after market hours yesterday, 18 July 2016 that the companys wholly owned subsidiary - Dabur International has acquired 100% share capital of a new company namely DISCARIA TRADING (PTY) LTD in South Africa on 14 July 2016. Accordingly DISCARIA TRADING (PTY) LTD has become a step down wholly owned subsidiary company of Dabur India from 14 July 2016.

Exide Industries net profit rose 25.9% to Rs 196.05 crore on 11.67% rise in total income to Rs 2025.35 crore in Q1 June 2016 ove Q1 June 2015. The result was announced after market hours yesterday, 18 July 2016.

Piramal Enterprises announced before market hours today, 19 July 2016 that a meeting of the Administrative Committee of the Board of Directors of the company will be held on 21 July 2016 to consider and approve the issue of secured non-convertible debentures amounting upto Rs 1000 crore on private placement basis.

Byke Hospitality announced after market hours yesterday, 18 July 2016 that the companys one of the hotels The Byke- Suraj Plaza Thane (Maharashtra) has acquired wedding garden measuring approx 20000 square feet situated next to The Byke-Suraj Palza, Saibaba Vihar Complex, Godbunder Road, Anand Nagar, Thane West, Maharashtra.

Ballarpur Industries announced after market hours yesterday, 18 July 2016 that India Ratings & Research (a Fitch Group Company) has revised the long-term issuer rating (including non-convertible debentures) from IND A+ to IND A- and short-term issuer rating from IND A1+ to IND A1 of the company, while maintaining the rating on Rating Watch Evolving.

Camlin Fine Sciences announced after market hours yesterday, 18 July 2016 that the State Level Environment Impact Assessment Authority, Gujarat at its meeting held on 16 July 2016 has granted the environmental clearance to the company for setting up a manufacturing facility for Hydroquinone/ Catechol and its down-stream products at Dahej Sez, Bharuch District, Gujarat.The environmental clearance was granted with all the conditions recommended by the State Level Expert Appraisal Committee.

Powered by Capital Market - Live News

RIL may gain on strong Q1 results
Jul 18,2016

Reliance Industries (RIL)s consolidated net profit rose 18.1% to Rs 7113 crore on 13.4% decline in turnover to Rs 71451 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest and tax (EBIT) margin rose by 2.41% to 10.7% in Q1 June 2016 over that from Q1 June 2015. The result was announced after market hours on Friday, 15 July 2016. Decline in revenue was led by the 26% decline in benchmark (Brent) oil price which averaged at $45.6 per barrel in Q1 June 2016 as compared to $61.9 per barrel in Q1 June 2015. Impact of lower prices was partially offset by higher volumes in refining and petrochemicals segments. Gross refining margin rose to $11.5 per barrel in Q1 June 2016 from $10.4 per barrel in Q1 June 2015.

PSU OMCs and auto stocks will be in focus after PSU OMCs cut petrol price by Rs 2.25 a litre and diesel by 42 paise a litre late on Friday, 15 July 2016. The prices took effect from Saturday, 16 July 2016..

Hindustan Unilever (HUL), Tayo Rolls, Span Diagnostics, Mindtree, Hinduja Foundries, Gruh Finance, Exide Industries, Bharat Bijlee, and Aarey Drugs Pharmaceuticals will announce their quarterly results today, 18 July 2016.

IDFC Bank and Axis Bank will be in focus. The Reserve Bank of India on Friday, 15 July 2016 notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now enhance investment from existing 24% to 46% of the paid up capital of IDFC Bank under the portfolio investment scheme (PIS). The RBI 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 IDFC Bank shall not exceed 46%. The RBI has stated that IDFC 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 by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

The Reserve Bank of India on Friday, 15 July 2016 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can raise stake from existing 62 per cent up to 74% of the paid up capital of Axis Bank under the Portfolio Investment Scheme (PIS). The Reserve Bank further notified that the total foreign investment in the bank shall not exceed 74% of paid up capital. The Reserve Bank has stated that the 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.

Glenmark Pharmaceuticals announced before market hours today, 18 July 2016 that subsequent to the rating received by the leading credit agencies in the world i.e. S&P and Fitch, the company has decided to tap into the International Bond market and is planning to raise around $200 million by issuing dollar denominated non-convertible unsecured bonds. The net proceeds will be used for repaying the existing debt. These bonds are planned to be listed on the Singapore Stock Exchange in order to establish the companys track record in the globally recognized bond market.

Bharti Airtel announced on Sunday, 17 July 2016 an effective reduction in pre-paid data tariffs by increasing data benefits on some of its pre-paid data recharge packs. Airtel customers will now enjoy more value on these existing packs and can add to their mobile internet experience by staying online longer and download more of their favorite content.

Under the revised data benefits, the Rs 655 4G/3G monthly recharge pack will now offer 5 GB data vs 3 GB earlier, an increase of 67%. Similarly, the Rs 455 pack 4G/3G pack now offers 50% more data by increasing data benefit to 3 GB from 2 GB. The Rs 989 4G/3G pack will now offer 10 GB data vs 6.5 GB earlier, offering 54% more benefits. 2G/3G/4G Sachet Packs also see major increase in benefits. The Rs 25 2G pack now offers 45% more data at 145 MB vs 100 MB earlier, while the Rs 145 4G/3G pack now offers 32% more data benefits at 580 MB vs 440 MB earlier. Even the Rs 5 one day 2G data pack benefits have been increased by 48% to 30 MB keeping in mind non-regular/first time users, particularly in rural markets.

Tata Motors turns ex-dividend today, 18 July 2016 for dividend of Rs 0.20 per share for the year ended 31 March 2016 (FY 2016).

Dr Reddys Laboratories turns ex-dividend today, 18 July 2016 for dividend of Rs 20 per share for the year ended 31 March 2016 (FY 2016).

Alstom T&D India turns ex-dividend today, 18 July 2016 for dividend of Rs 1.80 per share for the year ended 31 March 2016 (FY 2016).

Agro Tech Foods turns ex-dividend today, 18 July 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).

Century Textiles Industries turns ex-dividend today, 18 July 2016 for dividend of Rs 5.50 per share for the year ended 31 March 2016 (FY 2016).

Elecon Engineering Company turns ex-dividend today, 18 July 2016 for dividend of Rs 1.10 per share for the year ended 31 March 2016 (FY 2016).

V-Guard Industries turns ex-dividend today, 18 July 2016 for final dividend of Rs 2.50 per share for the year ended 31 March 2016 (FY 2016).

Shriram Transport Finance Company turns ex-dividend today, 18 July 2016 for final dividend of Rs 6 per share for the year ended 31 March 2016 (FY 2016).

Visaka Industries turns ex-dividend today, 18 July 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).

Powered by Capital Market - Live News

TCS to be watched after announcing Q1 results
Jul 15,2016

TCS consolidated net profit as per International Financial Reporting Standards (IFRS) fell 0.4% to Rs 6317 crore on 3% rise in revenue to Rs 29305 crore in Q1 June 2016 over Q4 March 2016. Operating income fell 0.9% to Rs 7347 crore in Q1 June 2016 over Q4 March 2016. The result was announced after market hours yesterday, 14 July 2016.

Commenting on the Q1 performance, N Chandrasekaran, CEO and MD, TCS, said that strong execution and accelerating customer adoption of cloud, big data & analytics has driven broad-based growth across key markets and industries. The companys investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge, he added.

Rajesh Gopinathan, Chief Financial Officer, TCS, said this has been a quarter of good financial performance balancing revenue growth, profitability and cash generation. The companys disciplined approach to operations have helped counter strong headwinds in the form of annual salary hikes and promotions as well as global currency and market volatility through the quarter. The company continues to invest in people, platforms and products as it looks to strengthen competitive position across key markets, he added.

TCS declared an interim dividend of Rs 6.50 per share for the year ending 31 March 2017 (FY 2017).

Among prominent earnings, software major Infosys is scheduled to announce its Q1 June 2016 results at around 9:15 IST today, 15 July 2016. Reliance Industries (RIL) will announce its Q1 June 2016 earnings today, 15 July 2016.

Steel Strips Wheels, NIIT Technologies, Mastek, and LIC Housing Finance among others will announce their quarterly results today, 15 July 2016.

HDFC announced after market hours yesterday, 14 July 2016 that it has successfully priced its first overseas issue of unrated rupee denominated bonds yesterday, 14 July 2016. The company is the first Indian corporate issuer of rupee denominated bonds overseas pursuant to applicable Reserve Bank of India guidelines. The Rs 3000 crore issue of unsecured rupee denominated bonds bears a fixed semi-annual coupon of 7.875% per annum and has a tenor of 3 years and 1 month. The bonds have been issued at a price of 99.24% of the par value and will be redeemed at par. The all-in annualised yield to the investors is 8.33% per annum. This is a rupee based transaction and there is no foreign exchange exposure for HDFC. The bonds will be listed on the London Stock Exchange and cannot be traded in the local Indian market. The issue proceeds would be used for the housing finance business of HDFC as well as for general corporate purposes.

Rupee denominated bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.

Meanwhile, shares of HDFC turn ex-dividend today, 15 July 2016 for final dividend of Rs 14 per share for the year ended 31 March 2016 (FY 2016).

Hero MotoCorp (HMCL) after market hours yesterday, 14 July 2016, announced the launch of the new Splendor iSmart 110, the first motorcycle to be developed completely in-house, with HMCLs own technology. Built on a completely new chassis and frame, the bike is powered by the new 110cc Torque on Demand engine that also features HMCLs patented i3S technology, the company said. The bike is now available at the Hero dealerships across India. The bike is priced at Rs 53,300 ex-showroom Delhi.

Berger Paints India turns ex-bonus today, 15 July 2016 for the bonus issue of 2 shares for every 5 shares held.

GlaxoSmithkline Pharmaceuticals turns ex-dividend today, 15 July 2016 for dividend of Rs 50 per share for the year ended 31 March 2016 (FY 2016).

Ingersoll-Rand India turns ex-dividend today, 15 July 2016 for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016).

Orient Cement turns ex-dividend today, 15 July 2016 for final dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

Tata Elxsi turns ex-dividend today, 15 July 2016 for dividend of Rs 14 per share for the year ended 31 March 2016 (FY 2016).

Powered by Capital Market - Live News