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Glenmark Pharmaceuticals gets final approval for Diclofenac Sodium Gel, 3%
Sep 14,2016

Glenmark Pharmaceuticals Inc. USA has been granted final approval by the United States Food and Drug Administration (USFDA) for Diclofenac Sodium Gel, 3%, the generic version of Solaraze Gel, 3% of Fougera Pharmaceuticals Inc.

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Tata Steel may decline as net loss widens in Q1
Sep 14,2016

On a consolidated basis, Tata Steel reported net loss of Rs 3183.07 crore in Q1 June 2016, higher than net loss of Rs 316.91 crore in Q1 June 2015. Total income fell 5.5% to Rs 26542.83 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Monday, 12 September 2016. Stock market remained closed on Tuesday, 13 September 2016.

Tata Steels consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 21% to Rs 3270 crore in Q1 June 2016 over Q1 June 2015 due to improved operating performance across India, Europe, and South East Asia. EBITDA margin expanded to 12.4% in Q1 June 2016 from 9.6% in Q1 June 2015. Tata Steel said that the company recognised loss of Rs 3296 crore in Q1 June 2016 on account of divestment of Long Steel UK Limited.

In its business outlook for Indian business operations, Tata Steel said that India realisations in Q2 September 2016 are expected to be affected by lower demand from large steel consuming sectors such as construction and capital goods as well as seasonal sluggishness due to monsoon. Demand is expected to pick up post-monsoon and the festive season on the back of increase in disposable income due to the Pay Commission award, good harvest and easier liquidity, Tata Steel said. Supply side pressures from domestic steel companies likely to cap realisations and keep industry mill utilisation levels under check, the company said.

In its business outlook for European business operations, Tata Steel said that European Union economy is expected to continue to grow gradually though UKs stronger growth may slow down following the referendum result. Supply pressures from imports are expected to continue. The weaker pound is expected to improve UKs short term competitive position on exports, however it will add cost pressure due to higher cost of raw materials purchased in US dollars, Tata Steel said.

In its business outlook for South East Asia busines, Tata Steel said that steel demand is expected to be stable on the back of infrastructure building. Margins will remain under pressure as Chinas slowing growth and overcapacity is expected to result in continued exports to global markets, particularly South East Asia.

Tata Steel said that while iron ore prices have been volatile, coking coal prices have surged upwards by almost 60% since the start of August 2016. Prices of iron ore and coking coal are expected to remain volatile, the company said.

T V Narendran, Managing Director of Tata Steel India and South East Asia, said that seasonal headwinds and a slowdown in a large steel consuming sector like real estate affected steel demand in Q1 June 2016. While the regulatory changes have helped stem the flood of imports, domestic supply has increased and added to the competitive pressure, Narendran said. Tata Steel Kalinganagar commenced commercial production during Q1 June 2016 and the plant is ramping up well both in terms of output and quality, he said. Despite continued imports from China, the South East Asia operations have shown a significant improvement in the business due to the focus on downstream products and solutions, exports and effective management of spreads, he added.

Coal Indias consolidated net profit fell 14.78% to Rs 3065.28 crore on 6.11% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015. The result was announced yesterday, 13 September 2016 when the stock market was closed on account of Bakri Id.

Reliance Capital announced on 13 September 2016 that its board of directors approved a proposal to independently list its home finance business - Reliance Home Finance Ltd (RHF) - on the stock exchanges. The independent listing of Reliance Home Finance is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance Limitedfor every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, Construction Finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($ 1.2 billion) during the quarter ended 30 June 2016.

Glenmark Pharmaceuticals announced before market hours today, 14 September 2016 that it has been granted final approval by the United States Food & Drug Administration (USFDA) for Diclofenac Sodium Gel, 3%, the generic version of Solaraze Gel, 3% of Fougera Pharmaceuticals Inc. According to IMS Health sales data for the 12 month period ending July 2016, the Solaraze Gel, 3% market achieved annual sales of around $297.90 million in the US.

Shares of Bharat Heavy Electricals (Bhel) and NHPC will be watched. NHPC announced after market hours on Monday, 12 September 2016, that it has awarded a contract worth Rs 132.74 crore to Bhel for renovation and modernization of 180 megawatts (MW) Baira Siul Power Station in Himachal Pradesh. The scope of the contract agreement includes electromechanical works packages comprising supply, erection, commissioning of turbines and accessories and dismantling of existing system.

Meanwhile, Bharat Heavy Electricals turns ex-dividend today, 14 September 2016, for final dividend of Rs 0.40 per share for the year ended 31 March 2016.

National Aluminium Company (Nalco)s net profit fell 22.55% to Rs 135.01 crore on 3.26% rise in total income to Rs 1682.63 crore in Q1 June 2016 over Q1 June 2015. The announcement was made after market hours on Monday, 12 September 2016.

Motherson Sumi Systems said that the board of directors of the company has considered and approved the issue and allotment of 1.77 crore equity shares of the company to Sumitomo Wiring Systems, Japan at Rs 317 per share on a preferential basis. The announcement was made after market hours on Monday, 12 September 2016.

Allahabad Bank announced after market hours on Monday, 12 September 2016, that Credit Analysis and Research (CARE) has assigned CARE AA rating to the banks proposed Basel-III compliant Tier 2 bonds aggregating to Rs 1000 crore. Further, CARE and Brickwork Ratings India have also reviewed the existing ratings of the banks outstanding Tier 1/Tier 2 Bonds rated by them.

Godfrey Phillips Indias net profit dropped 61.99% to Rs 22.38 crore on 12.06% fall in total income from operations to Rs 940.56 crore in Q1 June 2016 over Q1 June 2015. The result was announced yesterday, 13 September 2016, when the stock markets were closed on account of Bakri Id.

IL&FS Transportation Networks reported net profit of Rs 17.87 crore in Q1 June 2016 as compared to net loss of Rs 18.64 crore in Q1 June 2015. Total income rose 16.41% to Rs 1281.56 crore in Q1 June 2016 over Q1 June 2015. The result was announced yesterday, 13 September 2016, when the stock markets were closed on account of Bakri Id.

Balmer Lawrie & Company turns ex-dividend today, 14 September 2016, for dividend of Rs 20 per share for the year ended 31 March 2016.

Gujarat State Petronet turns ex-dividend today 14 September 2016, for dividend of Rs 1.50 per share for the year ended 31 March 2016.

PTC India Financial Services turns ex-dividend today, 14 September 2016, for dividend of Rs 1.20 per share for the year ended 31 March 2016.

PTC turns ex-dividend today, 14 September 2016, for final dividend of Rs 2.50 per share for the year ended 31 March 2016.

Repco Home Finance turns ex-dividend today, 14 September 2016, for dividend of Rs 1.80 per share for the year ended 31 March 2016.

SJVN turns ex-dividend today, 14 September 2016, for final dividend of Rs 0.47 per share for the year ended 31 March 2016.

T D Power Systems turns ex-dividend today, 14 September 2016, for dividend of Rs 3.05 per share for the year ended 31 March 2016.

Suzlon Energy reported consolidated net loss of Rs 259.97 crore in Q1 June 2016 compared with net profit of Rs 1014.34 crore in Q1 June 2015. Total income dropped 36.81% to Rs 1668.94 crore in Q1 June 2016 over Q1 June 2015. The result was announced on 13 September 2016.

Amtek Auto reported net loss of Rs 319.68 crore in Q1 June 2016 compared with net loss of Rs 157.60 crore in Q1 June 2015. Total income dropped 33.45% to Rs 576.49 crore in Q1 June 2016 over Q1 June 2015. The result was announced on 13 September 2016.

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Gitanjali Gems consolidated net profit rises 188.15% in the June 2016 quarter
Sep 13,2016

Net profit of Gitanjali Gems rose 188.15% to Rs 57.40 crore in the quarter ended June 2016 as against Rs 19.92 crore during the previous quarter ended June 2015. Sales rose 30.41% to Rs 3710.43 crore in the quarter ended June 2016 as against Rs 2845.11 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales3710.432845.11 30 OPM %3.774.53 - PBDT68.5430.09 128 PBT51.3311.57 344 NP57.4019.92 188

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Lycos Internet reports standalone net loss of Rs 2.24 crore in the June 2016 quarter
Sep 13,2016

Net Loss of Lycos Internet reported to Rs 2.24 crore in the quarter ended June 2016 as against net loss of Rs 1.30 crore during the previous quarter ended June 2015. Sales declined 2.57% to Rs 112.80 crore in the quarter ended June 2016 as against Rs 115.78 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales112.80115.78 -3 OPM %0.251.17 - PBDT-2.05-1.43 -43 PBT-2.40-1.90 -26 NP-2.24-1.30 -72

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Reliance Infrastructure standalone net profit rises 7.67% in the June 2016 quarter
Sep 13,2016

Net profit of Reliance Infrastructure rose 7.67% to Rs 397.23 crore in the quarter ended June 2016 as against Rs 368.95 crore during the previous quarter ended June 2015. Sales rose 2.60% to Rs 2488.70 crore in the quarter ended June 2016 as against Rs 2425.54 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales2488.702425.54 3 OPM %22.7618.92 - PBDT631.48610.91 3 PBT476.73459.95 4 NP397.23368.95 8

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MBL Infrastructures standalone net profit rises 0.68% in the June 2016 quarter
Sep 13,2016

Net profit of MBL Infrastructures rose 0.68% to Rs 29.51 crore in the quarter ended June 2016 as against Rs 29.31 crore during the previous quarter ended June 2015. Sales rose 16.90% to Rs 712.85 crore in the quarter ended June 2016 as against Rs 609.78 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales712.85609.78 17 OPM %10.4710.62 - PBDT42.6940.65 5 PBT38.2436.50 5 NP29.5129.31 1

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Skipper standalone net profit rises 36.93% in the June 2016 quarter
Sep 13,2016

Net profit of Skipper rose 36.93% to Rs 13.72 crore in the quarter ended June 2016 as against Rs 10.02 crore during the previous quarter ended June 2015. Sales rose 20.57% to Rs 282.63 crore in the quarter ended June 2016 as against Rs 234.42 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales282.63234.42 21 OPM %14.9515.08 - PBDT27.0021.23 27 PBT20.2515.35 32 NP13.7210.02 37

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Galaxy Entertainment Corporation reports standalone net loss of Rs 13.80 crore in the June 2016 quarter
Sep 13,2016

Net Loss of Galaxy Entertainment Corporation reported to Rs 13.80 crore in the quarter ended June 2016 as against net loss of Rs 0.11 crore during the previous quarter ended June 2015. Sales declined 44.43% to Rs 8.58 crore in the quarter ended June 2016 as against Rs 15.44 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales8.5815.44 -44 OPM %-157.930.78 - PBDT-13.550.64 PL PBT-13.80-0.11 -12445 NP-13.80-0.11 -12445

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BGR Energy Systems standalone net profit declines 21.42% in the June 2016 quarter
Sep 13,2016

Net profit of BGR Energy Systems declined 21.42% to Rs 8.66 crore in the quarter ended June 2016 as against Rs 11.02 crore during the previous quarter ended June 2015. Sales declined 6.48% to Rs 834.15 crore in the quarter ended June 2016 as against Rs 891.92 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales834.15891.92 -6 OPM %8.818.64 - PBDT18.3821.56 -15 PBT13.2516.56 -20 NP8.6611.02 -21

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Shriram City Union Finance standalone net profit rises 23.08% in the June 2016 quarter
Sep 13,2016

Net profit of Shriram City Union Finance rose 23.08% to Rs 181.79 crore in the quarter ended June 2016 as against Rs 147.70 crore during the previous quarter ended June 2015. Sales rose 15.41% to Rs 1053.48 crore in the quarter ended June 2016 as against Rs 912.85 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales1053.48912.85 15 OPM %62.0062.33 - PBDT287.39233.32 23 PBT278.36224.44 24 NP181.79147.70 23

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SEL Manufacturing Company reports standalone net loss of Rs 186.89 crore in the June 2016 quarter
Sep 13,2016

Net Loss of SEL Manufacturing Company reported to Rs 186.89 crore in the quarter ended June 2016 as against net loss of Rs 118.20 crore during the previous quarter ended June 2015. Sales declined 14.74% to Rs 448.35 crore in the quarter ended June 2016 as against Rs 525.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales448.35525.84 -15 OPM %-5.4114.33 - PBDT-84.9711.20 PL PBT-153.44-59.72 -157 NP-186.89-118.20 -58

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Escorts Finance reports standalone net loss of Rs 0.05 crore in the June 2016 quarter
Sep 13,2016

Net loss of Escorts Finance reported to Rs 0.05 crore in the quarter ended June 2016 as against net profit of Rs 0.09 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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HBL Power Systems standalone net profit declines 2.65% in the June 2016 quarter
Sep 13,2016

Net profit of HBL Power Systems declined 2.65% to Rs 5.52 crore in the quarter ended June 2016 as against Rs 5.67 crore during the previous quarter ended June 2015. Sales declined 1.79% to Rs 331.63 crore in the quarter ended June 2016 as against Rs 337.66 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales331.63337.66 -2 OPM %9.5811.43 - PBDT19.4020.61 -6 PBT6.727.87 -15 NP5.525.67 -3

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Metalyst Forgings reports standalone net loss of Rs 65.10 crore in the June 2016 quarter
Sep 13,2016

Net Loss of Metalyst Forgings reported to Rs 65.10 crore in the quarter ended June 2016 as against net loss of Rs 66.23 crore during the previous quarter ended June 2015. Sales declined 39.03% to Rs 333.41 crore in the quarter ended June 2016 as against Rs 546.87 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales333.41546.87 -39 OPM %16.2217.04 - PBDT-39.92-24.18 -65 PBT-96.19-71.93 -34 NP-65.10-66.23 2

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National Aluminium Company standalone net profit declines 22.55% in the June 2016 quarter
Sep 13,2016

Net profit of National Aluminium Company declined 22.55% to Rs 135.01 crore in the quarter ended June 2016 as against Rs 174.32 crore during the previous quarter ended June 2015. Sales rose 3.95% to Rs 1528.18 crore in the quarter ended June 2016 as against Rs 1470.10 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales1528.181470.10 4 OPM %12.7415.59 - PBDT327.69365.62 -10 PBT208.90266.14 -22 NP135.01174.32 -23

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