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PNB Housing Finance in focus on debut
Nov 07,2016

Shares of PNB Housing Finance will debut on the bourses today, 7 November 2016. The initial public offer (IPO) of PNB Housing Finance saw strong response from investors. The issue received bids for 82.96 crore shares compared with 2.80 crore shares on offer. The IPO was subscribed 29.55 times. The bidding for the IPO remained open between 25 October 2016 to 27 October 2016. The issue price was fixed at top end of the price band of Rs 750 to Rs 775 per share. PNB Housing Finance is the fifth largest housing finance company (HFC) in India by the size of loan portfolio.

ICICI Bank announces Q2 results today, 7 November 2016.

Lupin announced that it has received notification that the inspection carried out by the USFDA in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding US FDA inspections at Lupins Goa facility, the company said. Commenting on the receipt of the EIR, Vinita Gupta, Chief Executive Officer and Nilesh Gupta, Managing Director, Lupin said that the company is committed to ensuring that all systems and processes followed by it are compliant with cGMP and are committed to bringing quality products to market. The announcement was made on Saturday, 5 November 2016.

Shares of Grasim Industries will be in focus. The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from up to 30% of the paid up capital of Grasim Industries under the Portfolio Investment Scheme (PIS). The Reserve Bank has stated that Grasim Industries has passed resolutions at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit from default 24% to 30% for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges. The announcement was made after market hours on Friday, 4 November 2016.

PSU OMCs and auto stocks will be in focus after Indian Oil Corporation (IOCL) announced increase in selling price of petrol by Rs 0.89/litre (excluding State levies) and increase in selling price of diesel by Rs 0.86/litre (excluding State levies) with effect from midnight of 5 November 2016 / 6 November 2016. After including VAT, petrol in Delhi costs Rs. 67.62 a litre up Rs. 1.17 from Rs 66.45 a litre. Similarly, diesel costs Rs 56.41 a litre after including VAT in Delhi, up Rs 1.03 as compared to Rs 55.38.The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in price of petrol and increase in price of diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, the company said.

Reliance Industries (RIL) announced on Saturday, 5 November 2016 that earlier that day, constituents of the contractor (RIL, BP and Niko) for block KG-DWN-98/3 (KG D6) received a communication from the Ministry of Petroleum & Natural Gas. Based on the recommendations of the Shah Committee, the Government has made a claim of about $1.55 billion against the contractor parties in respect of gas said to have migrated from neighbouring blocks. In carrying out petroleum operations, the contractor has worked within the boundaries of the block awarded to it and has complied with all applicable regulations and provisions of the Production Sharing Contract (PSC).

The claim of the Government is based on misreading and misinterpretation of key elements of the PSC and is without precedent in the oil & gas industry, anywhere in the world, company said. According to the Government the contractor is restricted to producing only that quantity of hydrocarbon as they existed at the point in time when the PSC was signed. This approach overlooks the fundamental fact that at that stage the work of exploration of the block has not even commenced and a complete lack of data makes it impossible to estimate the quantity of hydrocarbons available in the block. The liability of the Contractor has not been established by any process known to law and the quantification of the purported claim is without any basis and arbitrary.

RIL proposes to invoke the dispute resolution mechanism in the PSC and issue a Notice of Arbitration to the Government. RIL remains convinced of being able to fully justify and vindicate its position that the Governments claim is not sustainable.

Pfizers net profit rose 52.49% to Rs 126.33 crore on 6.35% rise in total income to Rs 581.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Punjab National Banks net profit fell 11.54% to Rs 549.36 crore on 3.77% rise in total income to Rs 14,218.27 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Union Bank of Indias net profit dropped 73.15% to Rs 176.67 crore on 2.71% rise in total income to Rs 9347.58 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Union Bank of India announced that the bank has on 4 November 2016 issued 10,000 non-convertible, unsecured subordinated Basel III compliant perpetual debt instruments eligible for inclusion in additional tier 1 capital. The bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis bearing 9% per annum coupon payable annually.

UCO Bank announced after market hours on Friday, 4 November 2016, that the bank has raised non-convertible, unsecured subordinated fully paid-up Basel III compliant perpetual debt instruments eligible for inclusion in additional tier I capital of Rs 750 crore through private placement.

Central Bank of India reported net loss of Rs 641.82 crore in Q2 September 2016 compared with net profit of Rs 112.87 crore in Q2 September 2015. Total income decreased 1.95% to Rs 6965.45 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

KPIT Technologies announced on Sunday, 6 November 2016 that it has completed agreement with ANSYS, to sell its Berlin-based subsidiary, KPIT medini Technologies AG, which has been focusing on functional safety products (Product brand known as Medini). Medini is a functional safety product which has applications beyond KPITs focused industries and as a software product, needs a wider and different distribution network to reach out to other industries beyond KPITs focused areas.

KPIT is expanding its portfolio as a provider of services and platforms to automotive industry for product engineering areas such as Powertrain, AUTOSAR, Diagnostics, Infotainment, etc. While KPIT will continue to provide services around the Medini tools, it would like to deepen its domain expertise by continuing to make further strategic investments in its focus areas for which the proceeds from this sale will be used.

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Berger Paints in spotlight after reporting Q2 earnings
Nov 04,2016

Berger Paints Indias consolidated net profit rose 55.35% to Rs 138.78 crore on 8.48% rise in total income to Rs 1289.75 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 3 November 2016.

Wipro announced the appointment of Gilles Grange, as the regional head of its operations in France. In his new role, Gilles will be responsible for building and strengthening the companys presence in France by pursuing new business opportunities and growing its visibility in the region. He will be based in Paris, and report to Christophe Martinoli, Vice President and Head of Continental Europe. The announcement was made after market hours yesterday, 3 November 2016.

Bharti Airtel will be in focus. Bharti Airtel International (Netherlands) BV (Airtel) and Zain Telecom (Zain) have reached an agreement, pursuant to which Zain is to pay to Airtel about $129 million for the settlement of all of Airtels claims on account of the Nigeria Litigation, certain tax matters and associated legal costs. Under the terms of the 2010 share sale/purchase agreement, Zain had provided Airtel certain indemnities covering the Nigeria Litigation and for certain tax claims. A separate settlement has been reached between Airtel and Econet Wireless settling all claims, disputes whatsoever, between the two including in Nigeria and Netherlands. With these settlements, Airtel has closed several ongoing major litigations in Nigeria, UK and Netherlands. The announcement was made after market hours yesterday, 3 November 2016.

NMDC announced that it has kept unchanged price of lump iron ore at Rs 2,100 per wet metric tonne and that of fines iron ore price at Rs 1,760 per wet metric tonne with effect from 3 November 2016 compared with prices in October. The announcement was made after market hours yesterday, 3 November 2016.

Grindwell Nortons consolidated net profit rose 20% to Rs 29.49 crore on 12.44% rise in total income from operations to Rs 335.54 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 3 November 2016.

Monsanto India reported net profit of Rs 0.89 crore in Q2 September 2016 compared with net loss of Rs 26.38 crore in Q2 September 2015. Total income jumped 148.86% to Rs 99.37 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 3 November 2016.

Hexaware Technologies turns ex-dividend today, 4 November 2016 for interim dividend of Rs 1 per share for the year ending 31 December 2016 (FY 2016).

Hindustan Zinc turns ex-dividend today, 4 November 2016 for interim dividend of Rs 1.90 per share for the year ending 31 March 2017 (FY 2017).

Info Edge (India) turns ex-dividend today, 4 November 2016 for interim dividend of Rs 1.50 per share for the year ending 31 March 2017 (FY 2017).

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Ambuja Cements in spotlight ahead of Q3 results
Nov 03,2016

Ambuja Cements is scheduled to announce Q3 September 2016 results today, 3 November 2016.

Hero MotoCorp announced that it dispatched 6.63 lakh units in October 2016, its third consecutive month of six lakh plus sales. The announcement was made after market hours yesterday, 2 November 2016.

TVS Motor Company reported a 12% growth in total sales at 3.08 lakh units in October 2016 over October 2015. Total two-wheeler sales rose 15.1% to 3.03 lakh units in October 2016 over October 2015. Scooters sales rose 1.07% to Rs 92,417 units in October 2016 over October 2015. Motorcycles sales grew by 14.5% to 1.21 lakh units in October 2016 over October 2015. Three-wheeler sales declined 54.28% to 4,805 units in October 2016 over October 2015. Total exports dropped 15.7% to 35,134 units in October 2016 over October 2015. The company announced the sales volume data after market hours yesterday, 2 November 2016.

Indian Hume Pipe Company announced that the company has fixed 13 December 2016 as the record date for 1:1 bonus issue. The announcement was made after market hours yesterday, 2 November 2016.

IL&FS Engineering and Construction Company reported net loss of Rs 80.67 crore in Q2 September 2016 compared with net loss of Rs 81.87 crore in Q2 September 2015. The net total income from operations rose 1.36% to Rs 356.87 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 2 November 2016.

Premier Explosives net profit rose 26.8% to Rs 2.40 crore on 35.8% rise in total income from operations to Rs 54.92 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 2 November 2016.

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Lupin in focus after receiving USFDA approval for pregnancy prevention drug
Nov 02,2016

Lupin announced that it has received final approval for Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Janssen Pharmaceuticals, Inc.s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). The approved product will be manufactured at Lupins Pithampur facility. Lupins Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg are the AB rated generic equivalent of Janssen Pharmaceuticals, Inc.s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). It is indicated for use by females of reproductive potential to prevent pregnancy. Ortho-Cyclen Tablets had US sales of $178.2 million as per IMS MAT June 2016. The announcement was made after market hours yesterday, 1 November 2016.

NTPC announced that in continuation with companys earlier disclosures in respect of Hindustan Urvarak & Rasayn (HURL), a joint venture company formed between NTPC (NTPC) and Coal India (CIL), a supplemental joint venture agreement has been signed on 31 October 2016 amongst NTPC, CIL, Indian Oil Corporation (IOC), Fertilizer Corporation of India (FCIL) and Hindustan Fertilizer Corporation (HFCL) in order to induct IOC, FCIL and HFCL, as joint venture partners and shareholders in HURL. Now, HURL shall also take up revival of Barauni plant of HFCL in addition to revival of Gorakhpur and Sindri plants of FCIL by setting up ammonia urea plants at each locations. The announcement was made after market hours yesterday, 1 November 2016.

Eicher Motors said total volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors rose 14.42% to 4,560 units in October 2016 over October 2015. The announcement was made after market hours yesterday, 1 November 2016.

Godrej Properties (GPL), one of Indias leading real estate developers, announced that it has sold over 60,000 square meters (6 lakh square feet) of villas with a booking value well in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Golf Links. Godrej Golf Links, a golf and recreational residential township spread across 100 acres, will house a community of residential villas, a 9-hole golf course, and a wide-range of recreational features. The first project in the township, Crest, contains villas of various sizes and configurations that are designed to offer spectacular views of the sprawling golf course, green landscapes, and recreational zones. The announcement was made before market hours today, 2 November 2016.

Satin Creditcare Network announced that meeting of working committee of the board of directors of the company is scheduled to be held on 4 November 2016 for the issuance of non-convertible debentures upto the amount of Rs 50 crore through private placement. The announcement was made after market hours yesterday, 1 November 2016.

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Tata Steel in spotlight after ratings downgrade
Nov 01,2016

Tata Steel announced yesterday, 31 October 2016 that ratings agency Brickwork Ratings downgraded the companys credit rating to BWR AA from BWR AA+, with negative outlook for the unsecured non-convertible debenture (NCD) issues of Rs 4000 crore. The ratings agency also downgraded ratings to BWR AA- from BWR AA for the companys unsecured subordinated perpetual debt issues of Rs 2500 crore, with negative outlook. The sudden change of guard at the holding company/group level has not only heightened the management risk for Tata Steel, but also has exposed it to uncertainty over continuity of critical decisions on cost cutting and deleveraging the balance sheet concerning the unprofitable UK operations and restructuring its European business, the ratings agency said. Unless the company takes appropriate measures in this regard, it may lead to a further deterioration in financial profile of the company, as also a rating action, the agency added.

Shares of auto companies will be in focus as companies start unveiling monthly sales volume data for October 2016 from today, 1 November 2016.

Yes Bank announced yesterday, 31 October 2016 that it has received the approval from Reserve Bank of India (RBI) for appointment of Ashok Chawla as Non-Executive Part-time Chairman of the bank for a period of three years from the date of his taking charge. Accordingly, Chawla took charge as Non-Executive Part-time Chairman of the bank with effect from 30 October 2016 upon the expiry of the term of the current Chairperson of the bank, Radha Singh. Ashok Chawla, an independent director, was appointed on the board on 5 March 2016.

Cadila Healthcare announced yesterday, 31 October 2016 that new data of Saroglitazar will be presented at The Liver Meeting being held at Boston from 11 to 15 November 2016. Saroglitazar (Lipaglyn), a novel agonist having predominant PPAR alpha activity, was launched in India as a prescription medicine for the treatment of Hypertriglyceridemia and Diabetic Dyslipidemia in patients with Type 2 Diabetes not controlled by statins. Saroglitazar is currently being evaluated in several clinical trials in India and other countries.

NBCC (India) announced yesterday, 31 October 2016 that pursuant to Ministry of Urban Development letter dated 28 October 2016, S K Chaudhary, Executive Director has been relieved from the company upon his relinquishing the charge of the post of Director (Projects), NBCC to join as Chairman & Managing Director, IRCON International.

Kitex Garments net profit fell 52.41% to Rs 12.92 crore on 20.32% decline in total income from operations to Rs 106.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced yesterday, 31 October 2016.

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Tech Mahindra in spotlight after Q2 results
Oct 28,2016

Tech Mahindras consolidated net profit declined 19.22% to Rs 643.40 crore on 3.56% growth in income from operations to Rs 7167.41 crore in Q2 September 2016 over Q1 June 2016. The result was announced after market hours yesterday, 27 October 2016.

In dollar terms, the companys consolidated net profit declined 13.4% to $96.5 million on 6.1% growth in revenue to $1.072 billion in Q2 September 2016 over Q1 June 2016. Revenue in constant currency terms rose 5% in Q2 September 2016 over Q1 June 2016.

Vineet Nayyar, Vice Chairman, Tech Mahindra said that the companys performance during the quarter indicates that its early investments in new technologies and capabilities are starting to show result.

C P Gurnani, Managing Director & CEO, Tech Mahindra said that overall, it was a very good quarter with the growth well-supported by its key communications and enterprises businesses. The company had some marquee wins which align very well with its strategy of catering to the connected world, he said.

Bajaj Auto, Colgate-Palmolive (India), Eicher Motors, Grasim Industries, IDFC, Nestle India, NTPC and Vedanta will declare July-September 2016 quarter results today, 28 October 2016.

Wipro announced after market hours yesterday, 27 October 2016 that it has won a five-year engagement with Speciality Restaurants for offering energy management services to the latter, which would help pare energy and operational costs.

NMDC said after market hours yesterday, 27 October 2016 that it has signed a tripartite memorandum of understanding (MOU) with Government of Madhya Pradesh and Madhya Pradesh State Mining Corporation (MPSMCL) for geological & geophysical exploration of various minerals in Madhya Pradesh. NMDC had made intentions to invest during the global investors summit held in October 2016 for exploration for different minerals in various districts of Madhya Pradesh over an area of approximately 7,200 square kilometers. As per the MOU, on successful establishment of mineral blocks through this proposed exploration, NMDC would be forming a joint venture with MPSMCL with equity 51:49 (NMDC-MPSMCL) for mining of such blocks.

On a consolidated basis, net profit of JSW Steel rose 1191.25% to Rs 726.46 crore on 22.03% rise in net sales to Rs 12986.63 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 27 October 2016.

Net profit of Castrol India declined 2.37% to Rs 139.80 crore on 2.84% decline in net sales to Rs 758.90 crore in Q3 September 2016 over Q3 September 2015. The result was announced after market hours yesterday, 27 October 2016.

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Hero MotoCorp in focus after good Q2 results
Oct 27,2016

Hero MotoCorps net profit rose 27.74% to Rs 1004.22 crore on 15.33% increase in total income to Rs 8601.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016.

Earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to its highest-ever 16.20% in Q2 September 2016, as against 14.91% in Q2 September 2015 aided by softer commodities and cost control measures.

Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp, said the highest-ever volume sales during the quarter is a reiteration of the overwhelming customer preference of the companys products. At the same time, the company has also delivered on its commitment of further strengthening its profitability by crossing the threshold Rs 1000 crore in PAT for the first time in a quarter. The domestic market has seen a revival in the past two quarters due to an above-average monsoon and positive consumer sentiment. The trend is expected to continue through the year and likely to result in double-digit growth for the industry. In the global markets, however, the industry continues to face headwinds due to volatile business environment driven by continued weakness in crude prices and sharp depreciation of local currencies.

Meanwhile, in a separate announcement, Hero MotoCorp said that its board of directors approved an investment of up to Rs 205 crore, in one or more tranches, for approximately 26-30% shareholding in Ather Energy. Ather is a Bangalore-based technology start-up engaged in the business of designing and manufacturing smart Electric Vehicles (EV) and associated charging infrastructure. The said strategic investment is subject to execution of definitive agreements and completion of certain conditions customary for a transaction of this nature.

As the market leader and a global automotive major, Hero MotoCorp takes the lead in many areas that benefit the environment, customer and the industry. Adoption of environment-friendly fuel is a priority for Hero MotoCorp, as is propagating sustainable manufacturing through green facilities. Hero MotoCorp intends to enhance its participation in the EV space by pursuing its internal EV program in addition to partnering with Ather.

GlaxoSmithKline Pharmaceuticals, Glenmark Pharmaceuticals, Indian Oil Corporation (IOC), JSW Steel, Jubilant Life Sciences, Maruti Suzuki India, ONGC, Tech Mahindra and TVS Motor Company will declare July-September 2016 quarter results today, 27 October 2016.

Hindustan Unilevers (HUL) net profit rose 11.54% to Rs 1095.60 crore on 2.22% growth in total income to Rs 8733.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016. During the quarter, in a challenging context where market growth continued to be under pressure, HULs domestic consumer business grew at 2% and EBITDA (earnings before interest, taxation, depreciation and amortization) margin expanded by 60 basis points (bps), the company said. HULs profit after tax before exceptional items, PAT (bei) grew by 9% to Rs 1082 crore in Q2 September 2016 over Q2 September 2015.

Harish Manwani, Chairman of HUL commented that in challenging market conditions, the company delivered another quarter of profitable growth. The company remains focused on market development, consumer led innovations and an even sharper drive on operating efficiences. With a good monsoon, the company expects a gradual improvement in market demand and remain positive on the mid-long term outlook for the industry, Manwani said. HULs strategic agenda of delivering consistent, competitive, profitable and responsible growth remains unchanged, he added.

Sun Pharmaceutical Industries announced after market hours yesterday, 26 October 2016, the execution of definitive agreements by its wholly owned subsidiary for the acquisition of 100% of Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), an international private equity company focused on accelerated development of breakthrough therapeutic drugs. OTS owns exclusive, worldwide rights to Seciera (cyclosporine A, 0.09% ophthalmic solution). Sun Pharma will pay Auven $40 million upfront, plus contingent development milestones and sales milestones as well as tiered royalty on sales of Seciera as consideration for this acquisition.

Seciera is currently in a Phase-3 confirmatory clinical trial for the treatment of Dry Eye Disease, an inflammatory ocular disease affecting approximately 16 million people in the United States alone. Seciera is a patented, novel, proprietary formulation of cyclosporine A 0.09%. It is a clear, preservative-free, aqueous solution. In a completed Phase 2b/3 clinical trial in 455 patients, Seciera demonstrated a rapid onset of action and was well tolerated by the study population. Based on the published data in literature, the efficacy and safety endpoints in these trials compared favorably to other formulations of cyclosporine A.

The transaction is subject to approval of the US Federal Trade Commission as required under the Hart-ScottRodino Act and other closing conditions, and is expected to be completed by end of 2016.

State Bank of India (SBI) announced after market hours yesterday, 26 October 2016, that a meeting of the central board of the bank is scheduled to be held on 29 October 2016 to consider raising of equity share capital through preferential issue of equity shares to the Government of India.

Cummins Indias net profit declined 0.53% to Rs 196.90 crore on 5.64% growth in total income to Rs 1429.13 crore in Q2 September 2016 over Q2 September 2015. The companys gross sales rose 5% to Rs 1331 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016.

Anant J. Talaulicar, Chairman & Managing Director (CMD) of Cummins India said that the companys exports continue to face headwinds due to the macroeconomic situation. The company continues to make inroads and gain market share domestically, Anant said. Government led investments in roadways and railways continued to drive Cummins sales growth in the industrial engine segment, the CMD added. Despite exports revenues remaining depressed, the companys strong focus on cost optimization and efficiency improvement has helped it sustain its profitability, Anant said. Cummins remains committed to investing in customer-centric, fit-for-market products and technologies as well as in leadership and diverse talent development to continue delivering profitable growth in the future, Anant said.

Tata Power Company will be in focus. With reference to media report suggesting, Ousted Tata Chief Says Group Faces $18 Billion in Writedowns, the company clarified after market hours yesterday, 26 October 2016, that it has examined the news article with comments purported to have been made by ex-chairman of Tata Sons regarding the companys Mundra ultra power project. The company has always made all relevant disclosures, as required, and has no further comments to offer.

Lakshmi Machine Works announced after market hours yesterday, 26 October 2016, that its board of directors has approved the buyback of 3.11 lakh equity shares, or 2.76% equity, of the company at Rs 4,450 per share, aggregating to an amount of Rs 138.39 crore.

Edelweiss Financial Services after market hours yesterday, 26 October 2016 announced that ICRA has assigned the rating of [ICRA]A1+ (ICRA A one plus) to the proposed short term debt programme of Rs 3000 crore of the company. CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed short term debt issue of Rs 3000 crore of the company.

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Axis Bank will be watched after Q2 results
Oct 26,2016

Axis Banks net profit declined 83.34% to Rs 319.08 crore on 14.14% growth in total income to Rs 13698.77 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016.

Axis Banks net interest income (NII) rose 11% to Rs 4514 crore in Q2 September 2016 over Q2 September 2015. The banks provisions and contingencies jumped 412.28% to Rs 3622.74 crore in Q2 September 2016 over Q2 September 2015.

Axis Banks gross non-performing assets (NPAs) stood at Rs 16378.65 crore as on 30 September 2016 as against Rs 9553.17 crore as on 30 June 2016 and Rs 4451.11 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 4.17% as on 30 September 2016 compared with 2.54% as on 30 June 2016 and 1.38% as on 30 September 2015. The ratio of net NPAs to net advances stood at 2.02% as on 30 September 2016 as against 1.08% as on 30 June 2016 and 0.48% as on 30 September 2015.

HDFC, Hero MotoCorp, Hindustan Unilever, ITC, Cadila Healthcare and Dabur India will declare July-September 2016 quarter results today, 26 October 2016

On a consolidated basis, Bharti Airtels net profit fell 4.9% to Rs 1461 crore on 3.4% rise in total revenues to Rs 24652 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 14.5% to Rs 9466 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin was reported at 38.4% in Q2 September 2016, higher than 34.7% Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016.

In a separate announcement, Bharti Airtel announced that the board of directors of the company at its meeting held on 25 October 2016, has authorised a committee of directors to evaluate options for monetization of a significant stake in Bharti Infratel, in accordance with applicable regulations. The final outcome of this exercise will be placed before the board for approval, before any final decision is taken. Bharti Airtel has also requested Bharti Infratel to allow sharing of any information with any prospective buyer, subject to customary confidentiality arrangements. There is no certainty of any transaction until such time the board reviews and approves the final proposal. The announcement was made after market hours yesterday, 25 October 2016.

Bharti Infratel, Indias leading telecom tower infrastructure provider, is a significant subsidiary of Bharti Airtel. Bharti Airtel has, in the past, divested stakes in Bharti Infratel to a clutch of private equity investors led by Temasek, KKR and other high quality investors in 2008. This was followed by an initial public offering (IPO) in the year 2012 and block sales in the stock market in 2014 and 2015. As on date Airtel holds 71.96% stake in Bharti Infratel.

Asian Paints after market hours yesterday, 25 October 2016 said that its board of directors approved the scheme of amalgamation of Asian Paints (International) Limited, Mauritius, wholly owned subsidiary of the company with Asian Paints. The scheme will come into effect subject to the approval from the stock exchanges, Bombay High Court and such other statutory authorities as may be required in India and Mauritius. It may be noted that the proposed scheme has been reviewed and recommended for approval by the Audit Committee of the Board of the company at its meeting held on 24 October 2016.

State Bank of India said that it has issued and allotted 25,000 AT1 Basel III compliant non- convertible, perpetual, subordinated, unsecured debt instrument in the nature of debenture, of face value Rs 10 lakh each at par through private placement bearing coupon at 8.39% per annum payable annually with call option after 5 years or any coupon payment date thereafter aggregating to Rs 2500 crore in third tranche. The announcement was made after market hours yesterday, 25 October 2016.

Reliance Industries (RIL) through its overseas wholly-owned subsidiaries have signed facilities agreements for availing term loan facilities for an aggregate amount of $573 million (equivalent to approximately Rs 3828 crore) for part financing the construction cost of six very large ethane carriers (VLECs) (the Facilities). RIL group had ordered six state-of-the-art VLECs, which will be the largest Ethane vessels ever built in the world. The announcement was made after market hours yesterday, 25 October 2016.

The Facilities with door to door tenor of 12 year comprise of a Korea Trade Insurance Corporation (K-sure) insured tranche of $286.50 million and a commercial tranche of $286.50 million. The Facilities shall be secured by collateral of respective VLECs. The said VLECs are financed at a debt to equity ratio of 80:20. The Facilities were oversubscribed by two times and saw participation from seven banks in K-sure covered tranche and six banks in the commercial tranche. This reflects the strong credit standing of RIL in the international financial markets.

VLECs would transport Ethane from United States of America to Dahej terminal in India, which will be used for feeding RILs crackers at Dahej, Hazira and Nagothane, to ensure consistent supply of Ethane at competitive prices.

IDFC Banks net profit galloped 550.27% to Rs 387.76 crore on 2615.82% growth in total income to Rs 2493.13 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016. The bank commenced its banking operations on 1 October 2015. Accordingly, the results for Q2 September 2016 are not comparable with corresponding previous quarter.

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Tata Group stocks in focus after Cyrus Mistrys ouster
Oct 25,2016

Shares of Tata Group companies will be watched as Tata Sons, the holding company of the Tata Group, said its board of directors replaced Cyrus P. Mistry as chairman of Tata Sons. The decision was taken at a Board meeting held yesterday, 24 October 2016. The board named Ratan N. Tata as interim chairman of Tata Sons. The board has constituted a selection committee to choose a new chairman. The committee comprises Ratan N. Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya, as per the criteria in the Articles of Association of Tata Sons. The committee has been mandated to complete the selection process in four months.

Vedanta after market hours yesterday, 24 October 2016 issued clarification with regard to news item titled Vedanta suspends work at Bicholim mine in Goa. The company said that Sesa Mining Corporation, a subsidiary of Vedanta, had suspended the work at Bicholim mines due to union agitation/activism. This a temporary closure of operations in the interest of safety and security of all employees at the Bicholim Mines, Vedanta said. The company added that the Bicholim Mine is one of the many mines operated by the subsidiaries of the company and the temporary suspension of the mine does not in any way impact the business deliverables.

Adani Enterprises consolidated net profit fell 78.87% to Rs 63.09 crore on 18.49% decline in total income to Rs 7770.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016. Ameet Desai, Executive Director of Adani Enterprises and Group CFO said that this has been a good quarter with recurring financial performance despite multiple headwinds including market volatility for commodities. The company has well-rounded growth in volume at its mining, agro and city gas businesses during the quarter. With improving economic climate and business sentiment, the company expects to further boost its financial performance, Desai said.

Idea Cellular reported net loss of Rs 42.79 crore in Q2 September 2016 as against net profit of Rs 739.59 crore in Q2 September 2015. Net sales rose 6.78% to Rs 9223.78 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016.

On a consolidated basis, net profit of Idea Cellular declined 88% to Rs 91.46 crore on 7.23% rise in net sales to Rs 9298.89 crore in Q2 September 2016 over Q2 September 2015.

On a consolidated basis, net profit of Rallis India rose 31% to Rs 66.52 crore on 20.78% rise in net sales to Rs 540.26 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016.

On a consolidated basis, net profit of Tata Metaliks rose 7.41% to Rs 21.73 crore on 1.36% decline in net sales to Rs 321.48 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016.

Capital First announced after market hours yesterday, 24 October 2016 that the meeting of the Debenture Committee of the Board of Directors of the company will be held on 27 October 2016, inter alia, to consider and approve the private placement of rated, listed, secured/unsecured/perpetual, redeemable, non-convertible securities in the nature of debentures to be listed on the debt market segment of National Stock Exchange of India (NSE).

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Wipro in focus after Q2 results
Oct 24,2016

Wipros consolidated net income fell 8% to Rs 2070 crore on 10% increase in gross revenues to Rs 13770 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

During the quarter, non-GAAP constant currency IT services segment revenue in dollar terms grew 0.9% over Q1 June 2016 and grew 7.2% over Q2 September 2015. IT services segment revenue was $1916.30 million, a decrease of 0.8% over Q1 June 2016 and an increase of 4.6% over Q2 September 2015.

IT services segment profits fell 5% to Rs 2340 crore on 9% increase in revenue to Rs 13140 crore in Q2 September 2016 over Q2 September 2015. Wipro expects revenues from its IT services business to be in the range of $1,916 million to $1,955 million.

On a consolidated basis, net profit of Cairn India rose 139.16% to Rs 778.70 crore on 9.08% decline in net sales to Rs 2038.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Sun Pharmaceutical Industries said it completed the divestment of its seven prescription brands in India to RPG Life Sciences. This has been done after receiving approval of the Competition Commission of India and completion of all the necessary formalities for closure of the transaction, Sun Pharmaceutical Industries said in a filing. On 27 July 2016, Sun Pharma had informed that it had signed an pact with RPG Life Sciences to divest seven brands in India, owned by the company and its subsidiary, for a consideration of Rs 41 crore. The announcement was made after market hours on Friday, 21 October 2016.

The board of JK Lakshmi Cement in its meeting on 26 October 2016 will consider issuing non-convertible debentures (NCDs) of upto Rs 500 crore, in one or more tranches, on private placement basis subject to requisite approval of the shareholders. The announcement was made after market hours on Friday, 21 October 2016.

Union Bank of India said its board will meet on 26 October 2016 to consider raising of capital funds through various means. The announcement was made after market hours on Friday, 21 October 2016.

Great Eastern Shipping Company (GE Shipping) said it signed a contract to buy a Supramax Dry Bulk Carrier of about 58,000 deadweight tonnage (dwt). The 2009 built vessel is expected to join the companys fleet in Q3 December 2016. The companys current fleet stands at 37 vessels, comprising 24 tankers (7 crude carriers, 15 product tankers, 2 LPG carrier) and 13 dry bulk carriers (1 Capesize, 7 Kamsarmax, 5 Supramax) with an average age of 8.93 years aggregating 2.88 mn dwt. Additionally, the company has 1 Newbuilding Kamsarmax on order. The announcement was made after market hours on Friday, 21 October 2016.

Net profit of RPG Life Sciences rose 300.39% to Rs 10.25 crore on 13.66% rise in net sales to Rs 76.38 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Net profit of SKF India rose 20.42% to Rs 60.26 crore on 10.65% rise in net sales to Rs 654.55 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

On a consolidated basis, net profit of Oberoi Realty rose 12.45% to Rs 83.72 crore on 32.62% rise in net sales to Rs 250.85 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

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RIL may gain after declaring good Q2 result
Oct 21,2016

Reliance Industries (RIL)s net profit rose 17.91% to Rs 7704 crore on 0.64% increase in total income to Rs 66624 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

On a consolidated basis, RILs net profit fell 22.9% to Rs 7206 crore on 9.6% increase in turnover to Rs 81651 crore in Q2 September 2016 over Q2 September 2015. Profit before depreciation, interest, and taxes (PBDIT) rose 24.8% to Rs 13551 crore in Q2 September 2016 over Q2 September 2015.

RIL said its turnover increased primarily on account of increase in volumes in refining, petrochemical and retail businesses.

RILs revenue from the refining and marketing segment decreased by 0.4% to Rs 60527 crore in Q2 September 2016 over Q2 September 2015. Segment earnings before interest and taxes (EBIT) rose 9.7% to Rs 5975 crore in Q2 September 2016 over Q2 September 2015, aided by stronger volumes and yield shifts to capture higher margins.

Gross Refining Margins (GRM) stood at $10.10 per barrel in Q2 September 2016, a tad lower than $10.60 per barrel in Q2 September 2015.

Revenue from the petrochemicals segment increased by 5.6% to Rs 22422 crore in Q2 September 2016 over Q2 September 2015, primarily due to increase in volumes of fiber intermediates and polyester products.

Revenues for organized retail business grew by 63% to Rs 8079 crore in Q2 September 2016 over Q2 September 2015. The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products. During the quarter, Reliance Retail added 59 stores across various store concepts and strengthened its distribution network for consumer electronics. As on 30th September 2016, Reliance Retail operated 3,442 stores across 679 cities with an area of over 13 million square feet.

Commenting on the results, Mukesh D. Ambani, chairman and managing director, RIL said that the company has achieved outstanding second quarter results with strong refining business performance and record petrochemicals segment earnings. Refining business sustained high profitability in a tough environment highlighting the companys exceptional refining assets, dynamic response to market trends and robust operations. Petrochemicals segment gained significantly from higher volumes, integration and supportive product margins. RILs projects in the hydrocarbon chain are at advanced stages of mechanical completion and precommissioning activities. These projects will further strengthen the companys position as a leading operator in the energy and materials businesses. RIL is delighted and humbled by the enthusiastic adoption of Jio by India. Jio is built to empower every Indian with the power of data.

RILs outstanding debt as on 30 September 2016 was Rs 189132 crore compared to Rs 180388 crore as on 31 March 2016.

Cash and cash equivalents as on 30 September 2016 were at Rs 82533 crore compared to Rs 89966 crore as on 31 March 2016. These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities.

Separately, RIL announced after market hours yesterday, 20 October 2016 that Reliance Jio Infocomm (RJIL) has received communication from Telecom Regulatory Authority of India (Trai) stating that the tariff plans offered by it are fully compliant with regulatory norms of IUC compliance, non-predatory and non-discriminatory. This clearly establishes the fact that all the tariffs offered by RJIL are in compliance with the prevailing regulations, RJIL said.

HCL Technologies is scheduled to announce Q2 September 2016 results today, 21 October 2016. ACC is scheduled to announce Q3 September 2016 results today, 21 October 2016.

Wipro will announce its Q2 September 2016 results today, 21 October 2016. The company after market hours yesterday, 20 October 2016 said it has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences for a purchase consideration of $500 million. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in Q3 December 2016.

Praj Industries consolidated net profit fell 39.32% to Rs 3.04 crore on 2.04% fall in total income to Rs 202.64 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

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RIL in spotlight after declaring Q2 result
Oct 21,2016

Reliance Industries (RIL)s consolidated net profit fell 22.9% to Rs 7206 crore on 9.6% increase in turnover to Rs 81651 crore in Q2 September 2016 over Q2 September 2015. Profit before depreciation, interest, and taxes (PBDIT) rose 24.8% to Rs 13551 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

RILs net profit rose 17.91% to Rs 7704 crore on 0.64% increase in total income to Rs 66624 crore in Q2 September 2016 over Q2 September 2015.

RIL said its turnover increased primarily on account of increase in volumes in refining, petrochemical and retail businesses.

RILs revenue from the refining and marketing segment decreased by 0.4% to Rs 60527 crore in Q2 September 2016 over Q2 September 2015. Segment earnings before interest and taxes (EBIT) rose 9.7% to Rs 5975 crore in Q2 September 2016 over Q2 September 2015, aided by stronger volumes and yield shifts to capture higher margins.

Gross Refining Margins (GRM) stood at $10.10 per barrel in Q2 September 2016, a tad lower than $10.60 per barrel in Q2 September 2015.

Revenue from the petrochemicals segment increased by 5.6% to Rs 22422 crore in Q2 September 2016 over Q2 September 2015, primarily due to increase in volumes of fiber intermediates and polyester products.

Revenues for organized retail business grew by 63% to Rs 8079 crore in Q2 September 2016 over Q2 September 2015. The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products. During the quarter, Reliance Retail added 59 stores across various store concepts and strengthened its distribution network for consumer electronics. As on 30th September 2016, Reliance Retail operated 3,442 stores across 679 cities with an area of over 13 million square feet.

Commenting on the results, Mukesh D. Ambani, chairman and managing director, RIL said that the company has achieved outstanding second quarter results with strong refining business performance and record petrochemicals segment earnings. Refining business sustained high profitability in a tough environment highlighting the companys exceptional refining assets, dynamic response to market trends and robust operations. Petrochemicals segment gained significantly from higher volumes, integration and supportive product margins. RILs projects in the hydrocarbon chain are at advanced stages of mechanical completion and precommissioning activities. These projects will further strengthen the companys position as a leading operator in the energy and materials businesses. RIL is delighted and humbled by the enthusiastic adoption of Jio by India. Jio is built to empower every Indian with the power of data.

RILs outstanding debt as on 30 September 2016 was Rs 189132 crore compared to Rs 180388 crore as on 31 March 2016.

Cash and cash equivalents as on 30 September 2016 were at Rs 82533 crore compared to Rs 89966 crore as on 31 March 2016. These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities.

Separately, RIL announced after market hours yesterday, 20 October 2016 that Reliance Jio Infocomm (RJIL) has received communication from Telecom Regulatory Authority of India (Trai) stating that the tariff plans offered by it are fully compliant with regulatory norms of IUC compliance, non-predatory and non-discriminatory. This clearly establishes the fact that all the tariffs offered by RJIL are in compliance with the prevailing regulations, RJIL said.

HCL Technologies is scheduled to announce Q2 September 2016 results today, 21 October 2016. ACC is scheduled to announce Q3 September 2016 results today, 21 October 2016.

Wipro will announce its Q2 September 2016 results today, 21 October 2016. The company after market hours yesterday, 20 October 2016 said it has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences for a purchase consideration of $500 million. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in Q3 December 2016.

Biocon reported consolidated net profit of Rs 146.70 crore in Q2 September 2016 as compared with net loss of Rs 10.60 crore in Q2 September 2015. Total income rose 21.2% to Rs 992.50 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

Syngene Internationals net profit rose 54.02% to Rs 74.70 crore on 21.68% rise in total income to Rs 313.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

NBCC (India) may remain in focus as the government proposes to sell up to 9 crore equity shares, or 15% equity, of NBCC (India) through offer for sale (OFS) through a separate, designated window on the stock exchanges. The OFS opened yesterday, 20 October 2016 for non-retail investors and opens today, 21 October 2016 for retail investors and non-retail investors who choose to carry forward their un-allotted bids. The floor price for the OFS is Rs 246.50 per equity share. As on 30 June 2016, the government held 90% stake in NBCC (India).

Praj Industries consolidated net profit fell 39.32% to Rs 3.04 crore on 2.04% fall in total income to Rs 202.64 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

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NBCC (India) in focus as government to dilute stake through OFS
Oct 20,2016

NBCC (India) announced after market hours yesterday, 19 October 2016, that the government proposes to sell up to 9 crore equity shares, or 15% equity, of NBCC (India) through offer for sale (OFS) through a separate, designated window on the stock exchanges. The OFS will open on 20 October 2016 for non-retail investors and on 21 October 2016 for retail investors and non-retail investors who choose to carry forward their un-allotted bids. The floor price for the OFS shall be Rs 246.50 per equity share. The OFS floor price is at 2.57% discount to the stocks previous closing price of Rs 253 on BSE. As on 30 June 2016, the government held 90% stake in NBCC (India).

Reliance Industries and Yes Bank will declare its Q2 September 2016 results today, 20 October 2016.

Hindustan Zincs net profit fell 15.41% to Rs 1901.87 crore on 10.51% decline in total income to Rs 4647.62 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 6% to Rs 2077 crore in Q2 September 2016 over Q2 September 2015.

The company said its revenues decreased during the quarter on account of lower volumes, partly offset by higher zinc & silver prices and rupee depreciation. Net profit decreased during the quarter due to higher depreciation and lower investment income on account of smaller corpus despite higher mark to market gains. The result was announced after market hours yesterday, 19 October 2016.

Bharti Airtel after market hours yesterday, 19 October 2016, announced an offer for all customers purchasing a new 4G mobile handset. Airtel is offering 10 GB 4G/3G data on a recharge of Rs 249 along with any new 4G handset. 1 GB data will be instantly credited to the customers account and the additional 9 GB data can be claimed by the customer through MyAirtel App. The data will be valid for 28 days. Users can avail a maximum of 3 recharges within 90 days, on the offer.

The special offer, which was introduced in Gujarat and Madhya Pradesh & Chhattisgarh last week, has now been extended across India and is available across all brands of 4G handsets. Airtel 4G is currently available in 18 circles across India. In non 4G circles, 3G data will be available to customers with their 4G devices. Pack Prices may vary from circle to circle. Offer on 4G handsets only and can be availed within 30 days of purchase of the handset.

RBL Banks net profit rose 34.3% to Rs 89.89 crore on 37.91% rise in total income to Rs 1071.04 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Bayer CropSciences net profit rose 2.12% to Rs 159.10 crore on 8.22% rise in total income to Rs 1118.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Tata Coffees consolidated net profit rose 61.89% to Rs 44.65 crore on 7.19% fall in total income to Rs 375.76 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Quess Corps consolidated net profit increased 65.86% to Rs 30.12 crore on 27.27% rise in total income to Rs 1023.38 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Ceat announced of a rollout a new breed of Puncture Safe tyres for the two wheeler market. This new range will offer a technology to consumers that will allow tyres to resist punctures with no loss of air pressure and allow a hassle free and safe ride. This new range is currently available only in the states of Andhra Pradesh and Telangana and the company proposes to roll out the Puncture Safe tyre range in the other markets in a phased manner. The announcement was made after market hours yesterday, 19 October 2016.

Rashtriya Chemicals and Fertilizers (RCF) has issued commercial paper for Rs 150 crore on 19 October 2016, in favour of ICICI Bank, having maturity date as 30 December 2016. The announcement was made after market hours yesterday, 19 October 2016.

Suzlon Group announced a joint venture with the Unisun Energy Group for the development and construction of a 15 megawatts (MW) Solar PV Project located at Bhainsa, Adilabad District, Telangana. The announcement was made after market hours yesterday, 19 October 2016.

According to the contract signed between Suzlon Group and the Unisun Energy Group on 22 August 2016, the Unisun Energy Group shall acquire a 49% stake in Vayudoot Solarfarms, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. Unisun Energy has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off-taker of the Vayudoot project will be the Telangana State Northern Power Distribution Company Limited (TSNPDCL). Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY17).

Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each.

NCC will be watched. The NCC-BGR Consortium, which was formed between NCC and BGR Mining & Infra (BGR), has been awarded the Pachhwara North Coal Block Mine Developer and Operator Project (MDO Project) by the West Bengal Power Development Corporation (WBPDCL). The Pachhwara North Coal Block is located in the Pakur District of Jharkhand State and was allocated by the Ministry of Coal, Government of India, to the WBPDCL and the coal extracted is for use for their power plants in West Bengal. The announcement was made after market hours yesterday, 19 October 2016.

The project has coal reserves of nearly 400 million tons and over burden of 1650 million cubic meters. The rate of mining fee per ton of coal is about Rs 890 including taxes. The total duration of the Project is about 30 years and will be extended for further period until the coal reserves are exhausted. The peak rated capacity of the mine is 15 million tons per annum (to be achieved by the 6th year of commencement of operation). The value of the project including taxes is estimated to be Rs 35000 crore (approximately) over a period of 30 years and the annual revenue at rated capacity is about Rs 1335 crore. These values are however valued at the current prices. Further, the contract provides for escalation of mining fees etc and therefore the yearly turnover may vary in line with the escalation of the input prices.

Tata Communications announced the successful completion of the India data centre joint venture transaction with ST Telemedia, a strategic global investor focused on communications, media and technology sectors. The announcement was made after market hours yesterday, 19 October 2016. In May 2016, the parties announced their entry into definitive agreements whereby ST Telemedia, through its wholly-owned subsidiary, ST Telemedia Global Data Centres (STT GDC), agreed to acquire a 74% majority stake in Tata Communications data centre business in India and Singapore. The transaction for STT GDCs acquisition of the majority stake in the India data centre business has been completed and is estimated at 100% enterprise value of Rs 3140 crore. Tata Communications remains a significant shareholder. The transaction for the Singapore data centre joint venture is expected to close shortly. The strategic partnership provides both companies with the opportunity to further grow their data centre businesses, offering advanced managed data centre services that enable digital transformation for customers.

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Endurance Technologies in focus on debut
Oct 19,2016

Shares of Endurance Technologies will debut on the bourses today, 19 October 2016. The initial public offer (IPO) of the company saw strong response from investors. The issue received bids for 75.52 crore shares and it was subscribed 43.84 times. The qualified institutional buyers (QIBs) category was subscribed 53.43 times. The non-institutional investors category was subscribed 127.07 times. The retail investors category was subscribed 2.69 times. The bidding for the IPO remained open between 5 October 2016 to 7 October 2016. The issue price was fixed at top end of the price band of Rs 467 to Rs 472 per share.

Mahindra & Mahindra (M&M) announced after market hours yesterday, 18 October 2016 that it has subscribed to and has been allotted 60 lakh equity shares of Rs 10 each of Classic Legends Private (CLPL), constituting 60% of its post-issue capital, offered to the company by CLPL on preferential basis. CLPL is into automobile industry. It is yet to commence its commercial operations.

Reliance Industries (RIL) announced after market hours yesterday, 18 October 2016 that the DTA unit of Jamnagar refinery of the company is planning to shut down the Fluidized Catalytic Cracking Unit (FCCU) for routine Maintenance & Inspection activities from the second week of November 2016 for about 5 weeks. The shutdown will provide an opportunity to carry out a revamp job in one of the Polypropylene units. All the four crude distillation units along with other major secondary processing units are expected to operate at normal throughput, RIL said.

Bank of Baroda (BoB) announced after market hours yesterday, 18 October 2016 that a meeting of the Capital Raising Committee of the Board is scheduled to meet on 21 October 2016, to consider and approve the issue of bonds. It may be recalled that BoB had announced on 15 October 2016 that it had initiated the process of raising funds through issuance of Basel III Compliant AT-I (Additional Tier-I Capital) Bonds of Rs 1000 crore with Green Shoe option of Rs 1000 crore (Total size not to exceed Rs 2000 crore) on private placement basis.

Havells Indias net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 18 October 2016.

Hatsun Agro Products net profit rose 3.61% to Rs 32.16 crore on 17.36% rise in total income to Rs 1001.82 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 18 October 2016.

Sterling Tools scheduled a board meeting on 5 November 2016, to consider stock split proposal of equity shares of the company. The announcement was made after market hours yesterday, 18 October 2016.

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Axis Bank in focus after announcing reduction in MCLR
Oct 18,2016

Axis Bank said that the bank has reduced its lending rates based on marginal cost of funds based lending rate (MCLR) by 5 basis points across all tenors effective from 18 October 2016. Axis Bank said that the banks MCLR for overnight loans will be 8.8%, the rate for one month will be 8.85% and for three months it will be 9.05%. The MCLR on 6-month loans will be 9.15% and for one-year loans the rate will be 9.2%, the bank said. MCLR on two-year loans will be 9.3% and for three-year loans the rate will be 9.35%. The announcement was made after market hours yesterday, 17 October 2016. Separately, Axis Bank announced that it has received request for redemption of $46 million - 7.167% Callable Hybrid Tier I Notes. The Notes were issued on 15 November 2006. The announcement was made after market hours yesterday, 17 October 2016.

Bharat Financial Inclusion said it issued commercial papers of an aggregate amount of Rs 100 crore on 17 October 2016, which have been rated A1+ by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk. The aggregate commercial papers outstanding as on date is Rs. 450 crore. The announcement was made after market hours yesterday, 17 October 2016.

Petronet LNG announced that the part facilities of the expansion of Dahej LNG Terminal from 10 to 1.5 MMTPA i.e. regasification facility has been commissioned and under stabilization. As such the additional gas send-out from Dahej LNG terminal has commenced. The balance part of the expansion i.e. two LNG storage tanks are likely to be completed by October 2016. The announcement was made after market hours yesterday, 17 October 2016.

Shriram EPC announced that it has been awarded contract of over Rs 61 crore from K.U.W.S. & D. Board (KUWSD), Bengaluru for providing water supply scheme to Robertsonpet (KGF) City under AMRUT. Scope of work includes providing water supply scheme to Robertsonpet (KGF) City under AMRUT. The project is to be executed over a period of 36 months. The announcement was made after market hours yesterday, 17 October 2016.

Aarti Industries said that the board of directors of the company approved the buyback up to 12 lakh shares representing up to 1.44% of paid-up capital of the company at Rs 800 per share. The announcement was made after market hours yesterday, 17 October 2016.

Indian Hume Pipe Company said that its board of directors will meet on 26 October 2016 to consider the proposal for issuing bonus shares by capitalization of free reserves. The announcement was made after market hours yesterday, 17 October 2016.

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