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Tata Motors, Hero MotoCorp in focus after declaring monthly sales volume data for May
Jun 02,2016

Tata Motors announced that its total commercial and passenger vehicles sales rose 1% to 40,071 units in May 2016 over May 2015. The companys domestic sales of Tata commercial and passenger vehicles rose 2% to 35,643 units in May 2016 over May 2015. Exports declined 5% to 4,428 units in May 2016 over May 2015. The company announced the monthly sales volume data after market hours yesterday, 1 June 2016.

Hero MotoCorp reported 2.32% rise in total two-wheelers sales to 5.83 lakh units in May 2016 over May 2015. Market demand was expectedly subdued in May 2016, due to the heavy retail offlake that happened in April on account of the marriage season and regional festivals in different parts of the country during that month, the company said in a statement. However, a good monsoon after two consecutive years of sub-normal rains could lead to a change in sentiments in the rural markets, which may lead to a positive turn-around in the industry in the second half of this fiscal, it added. The announcement was made after trading hours yesterday, 1 June 2016.

In the month of May, Hero MotoCorp forayed into the world of motorcycle rally racing, through a strategic alliance with Speedbrain GmbH, the German off-road racing specialist. The newly formed Hero MotoSports Team Rally made its debut at the Merzouga Rally, a Dakar series race that recently concluded in Morocco.

Reliance Industries (RIL) announced at the fag end of the trading session yesterday, 1 June 2016, that its wholly-owned subsidiary, Reliance Industrial Investments and Holdings, is investing $16 million in compulsorily convertible preferred shares of a technology start-up viz. NetraDyne Inc., USA. The US-based entity is involved in high-end technology driven product development of deep learning solutions and vision based analytics targeted at industries such as fleet management, automotive, security and surveillance. The entity is currently in advanced stages of product development. It is yet to commence commercial operations, RIL said in a statement. NetraDyne Incs line of business has potential synergies with telecom and digital business initiatives of RIL apart from commercialization benefits in India, RIL added.

RIL further said that 50% of the investment in NetraDyne has been done on 31 May 2016. The balance 50% investment is likely to be completed by 31 March 2017. Upon conversion of the investment, Reliance Industrial Investments and Holdings will get about 15 million equity shares at $1.0613 per share. This translates to 40% equity stake.

Bharti Airtel said that Airtel Payments Bank announced the appointment of Shashi Arora as the CEO & Managing Director of the company, subject to the approval of the Reserve Bank of India (RBI). He will replace Manish Khera, CEO, who has decided to pursue his entrepreneurial journey, Bharti Airtel said.

On 11 April 2016, Airtel Payments Bank received a payments bank license from RBI. The company plans to start rolling out its banking network in Q2 September 2016.

Coal India and its subsidiaries on provisional basis achieved 95% of targeted production at 42.58 million tonnes in May 2016. Coal India and its subsidiaries on provisional basis achieved 89% of targeted offtake at 45.53 million tonnes in May 2016. The announcement was made after market hours yesterday, 1 June 2016.

Axis Bank said it has signed tripartite share subscription agreement and shareholders agreement with A.Treds and Mjunction services. A.Treds is a subsidiary company of AXIS Bank. Mjunction services is a joint venture between Tata Steel and Steel Authority of India.

As per the agreement, Axis Bank purchased 1.65 crore shares of A.Treds for Rs 16.50 crore and Mjunction purchased 82.50 lakh shares of A.Treds for Rs 8.25 crore. Consequently, Axis Bank holds 67% stake and Mjunction holds 33% stake in A.Treds.

A.Treds is licensed by the Reserve Bank of India to engage in the business of trade receivables discounting systems (TReDS). The announcement was made after trading hours yesterday, 1 June 2016.

Separately, Axis Bank announced after market hours yesterday, 1 June 2016 that it has allotted senior fixed rate green bonds aggregating to $500 million under the MTN programme through its Dubai International Financial Centre (DIFC) branch. The notes will be listed at the Singapore Stock Exchange and London Stock Exchange. The notes have been priced at 160 basis points over the 5-year US Treasury Note, at a price of 99.479% to yield 2.988%. The notes will be denominated in US dollars, and will bear fixed interest of 2.875% per annum, with interest payable semi-annually in arrears.

Punjab National Bank (PNB) announced revision to its lending rates based on marginal cost of funds to be effective from 1 June 2016. PNBs Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.15%, for one month will be 9.20% and for three months will be 9.30%. The MCLR on 6-month loans will be 9.35% and for one-year loans the rate would be 9.40%, the bank said. MCLR for three-year loans would be at 9.55% and loans with five-year maturity would carry an MCLR of 9.70%, the bank said. The announcement was made after market hours yesterday, 1 June 2016.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

TVS Motor Companys total sales rose 11% to 2.43 lakh units in May 2016 over May 2015. The announcement was made after trading hours yesterday, 1 June 2016.

South Indian Bank said that its board of directors has decided to augment the capital by issue of Basel III compliant Tier I/II Bonds to be considered for capital fund purpose for a total face value not exceeding Rs 500 crore in one or more tranches, on such terms and conditions as it may deem fit, subject to the approval of Reserve Bank of India, shareholders and other regulatory authorities, if any. The mode, price and time of the issue will be intimated in due coursem the bank said. The announcement was made after trading hours yesterday, 1 June 2016.

Punj Lloyd announced after trading hours yesterday, 1 June 2016, that the High Court of Justice, Queens Bench Division, Commercial Court, UK has ordered the company and its subsidiary, Punj Lloyd Upstream (PLUL), to pay $26173659.16 (plus summary assessment costs amounting to 75000 pounds), to International Finance Corporation, towards their claims. The company said it is considering various legal options and shall take appropriate steps in respect of such order.

Kajaria Ceramics said that its board of directors will meet on 16 June 2016 to consider stock split. The company proposes to split face value of each share from Rs 2 to Re 1.

Gammon India announced after trading hours yesterday, 1 June 2016, that it has received a Notice of Conversion from DBS Bank (one of the joint lenders) for conversion of part of outstanding debt into equity shares under the Strategic Debt Restructuring Package of the company. Pursuant to this notice, DBS Bank has decided to convert part of its outstanding debt and interest aggregating to Rs 4.90 crore into 41.24 lakh equity shares of the company of face value of Rs 2 each at Rs 11.89 per equity share. Post this conversion the total shareholding of the CDR Lenders and DBS Bank will be 63.07% of the total equity capital of the company.

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PSU OMCs in focus after announcing hike in petrol and diesel prices
Jun 01,2016

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a hike in petrol and diesel prices. Indian Oil Corporation (IOCL) yesterday, 31 May 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 31 May 2016. Petrol price was hiked by Rs 2.58 per litre and diesel price was raised by Rs 2.26 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 65.60 per litre and diesel costs Rs 53.93 a litre.

Reliance Industries (RIL) announced that due to lower release of dam water and the significantly increased salinity of water supply to the companys Dahej manufacturing complex in district Bharuch of Gujarat, there is shortage of the right quality of industrial water at Dahej complex. As a response, RIL is running on reduced capacity in some of the plants and has temporarily shut down its PTA and PET plants. RIL has 2.3 MMTPA of PTA capacity and 650 KTPA of PET capacity at its Dahej manufacturing complex. RIL said it has initiated alternative arrangements for water and is closely monitoring the situation. It has also used the current situation to carry out planned maintenance and reliability activities. It is in a state of readiness to resume full supplies as soon as the water availability and water quality issues are resolved, the company said. RIL said it is ensuring a continued supply of PTA to the domestic market from its Hazira and Patalganga manufacturing complexes. The announcement was made after market hours yesterday, 31 May 2016.

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

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

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

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

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

Tata Steel UK yesterday, 31 May 2016 announced the completion of the sale of its Long Products Europe business to Greybull Capital LLP. The announcement was made before market hours today, 1 June 2016. During the last twelve months, the Long Products Europe business has implemented a transformation plan including a portfolio restructuring of assets, underpinned by committed support from employees and their trade unions. This has focused the business on higher-value markets supported by a more competitive cost base.

The Long Products Europe business, which in the UK includes the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities, as well as a rail mill in northern France, will trade under the name of British Steel. All together the business employs 4,800 people - 4,400 in the UK and 400 in France. The sale follows an accelerated process of negotiations between Tata Steel UK and Greybull Capital.

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

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

Glenmark Pharmaceuticals announced after market hours yesterday, 31 May 2016, that the issuance committee of the company approved raising of up to $200 million through foreign currency convertible bonds (FCCBs) to be listed on the Singapore Stock Exchange. The FCCB issue was launched yesterday, 31 May 2016. The floor price for conversion of the FCCBs shall be Rs 861.84.

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

Great Eastern Shipping Company (GE Shipping) announced after market hours yesterday, 31 May 2016, that it delivered its 1999 built Aframax Crude Carrier Jag Laxmi to the buyers. The vessel was contracted for sale in April 2016. The companys current fleet (excluding Jag Laxmi) stands at 31 vessels, comprising 22 tankers (7 crude carriers, 14 product tankers, 1 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax, 5 Supramax) with an average age of 10.1 years aggregating 2.4 million deadweight tonnage (dwt).

Andhra Bank announced after market hours yesterday, 31 May 2016, that its board of directors has reviewed the projections of ICAAP (Internal Capital Adequacy Assessment Process) requirements for the financial year 2016-2017 and estimated the requirement of capital/funds of Rs 2700 crore by way of equity/tier 1/tier 2 bonds. The raising of capital will be made at an appropriate time depending on the market conditions, to meet the additional capital requirements during 2016-2017, the bank added.

Gayatri Projects announced after market hours yesterday, 31 May 2016, that it has executed agreements with MG Goyal Gases for sale of 1.8 megawatts (MW) Machine, Make V- 100, located at Kutch District in Gujarat and 1.5x5 MW, Total 7.5 MW, Vensys V77 make (WECS) located at Theni District in Tamilnadu for a consideration amounting to Rs. 7.73 crore and Rs. 26.36 crore respectively.

The wind energy plant, installed in collaboration with Suzlon Energy, will be inaugurated on 2 June 2016. The 8.4 MW wind energy power plant is expected to generate around 170 to 180 lakh units of power per annum. This is in addition to about 98 lakh units power generated per annum by the existing 5.5 MW wind power plants of BEL. All these plants put together are expected to generate around 270-280 lakh units in the coming years, meeting about 90% of BELs power consumption through renewable energy resources. The estimated reduction in carbon emission per annum is around 26,500 kgs equivalent of carbon dioxide (Co2). With this green initiative, BELs Bengaluru Complex is all set to achieve carbon neutral status, the company said.

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Tata Motors, Sun Pharma, Aurobindo Pharma in spotlight after Q4 earnings
May 31,2016

Tata Motors consolidated net profit rose 201.6% to Rs 5177.06 crore on 18.97% growth in total income to Rs 80933.04 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 30 May 2016.

Sun Pharmaceutical Industries (Sun Pharma) consolidated net profit rose 92.71% to Rs 1713.69 crore on 16.82% growth in total income to Rs 7599.21 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 30 May 2016.

Aurobindo Pharmas consolidated net profit rose 39.38% to Rs 562.85 crore on 18.88% growth in total income to Rs 3767.34 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 30 May 2016.

HDFC announced that it intends to raise Rs 760 crore through private placement of senior secured redeemable non-convertible debentures. HDFC said that the debentures has issue price of Rs 1 crore each and carry coupon rate of 8.44% per annum with a tenor of 10 years. The issue opens and closes on the same day on 1 June 2016. The object of the issue is to augment the long-term resources of the company. The proceeds of the present issue would be utilized for financing/refinancing the housing finance requirements of the company. The redemption date of the issue is 1 June 2026. The announcement was made after trading hours yesterday, 30 May 2016.

Nava Bharat Ventures said that its board decided to deliberate on the issue of bonus shares to the shareholders in a separate meeting to be convened later. The announcement was made after trading hours yesterday, 30 May 2016.

Grindwell Norton said that its board recommended 1:1 bonus issue of shares. The proposal is subject to shareholders approval by way of postal ballot. The announcement was made after trading hours yesterday, 30 May 2016.

Gillanders Arbuthnot & Company said that its board has decided to discontinue the operations of the fabrication factory of the engineering (MICCO) division of the company located at Sodepur, West Bengal, with immediate effect. The board also decided to sell the land and building structures located at the MICCO division. Accordingly, an agreement for sale has been approved by the board. The announcement was made after trading hours yesterday, 30 May 2016.

Rajesh Exports net profit rose 2559.03% to Rs 76.58 crore on 16.19% decline in total income to Rs 10410.62 crore in Q4 March 2016 over Q4 March 2015. The companys net profit rose 80.54% to Rs 476.51 crore on 1.84% rise in total income to Rs 38622.63 crore in the year ended March 2016 over the year ended March 2015. The announcement was made after trading hours yesterday, 30 May 2016.

Shree Renuka Sugars net profit rose 5020.93% to Rs 220.20 crore on 7.98% rise in total income to Rs 1818.40 crore in Q4 March 2016 over Q4 March 2015. The company reported a net loss of Rs 285.30 crore in the year ended March 2016, compared with net loss of Rs 295.10 crore in the year ended March 2015. Total income rose 2.02% to Rs 5864.20 crore in the year ended March 2016 over the year ended March 2015. The announcement was made after trading hours yesterday, 30 May 2016.

In a separate announcement, Shree Renuka Sugars said that its board has approved voluntarily granting an option to the lenders of the company to convert a part of the loans granted/to be granted to the company into equity shares of Re 1 each in the company, subject to maximum of 9.28 crore equity shares, which is equivalent to 10% of the present equity share capital of the company, at Rs 16.56 per equity share or the price as per the regulations prescribed by Securities and Exchange Board of India (Sebi), whichever is higher. The approval of the shareholders, inter-alia, for this purpose will be sought through postal ballot.

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Coal India, Bhel in focus after declaring Q4 results
May 30,2016

Coal Indias consolidated net profit rose 0.22% to Rs 4247.93 crore on 0.72% decline in total income to Rs 22898.79 crore in Q4 March 2016 over Q4 March 2015. The result was announced on Saturday, 28 May 2016.

Coal Indias board of directors at its meeting held on 28 May 2016, approved about 6.29% increase in coal prices over the current prices with effect from 30 May 2016. This will be applicable to all subsidiaries of Coal India and NEC for regulated and non-regulated sectors. Due to this revision, Coal India will earn additional revenue of about Rs 3234 crore for the balance period of current financial year i.e. from 30 May 2016 to 31 March 2017. The board has also approved the differential price for non-regulated sector at a reduced rate of 20% over the price of regulated sector for G6 to G17 grades of coal for all subsidiaries of Coal India.

Bharat Heavy Electricals (Bhel) net profit fell 59.52% to Rs 359.58 crore on 18.36% decline in total income to Rs 10418.64 crore in Q4 March 2016 over Q4 March 2015. Bhels order backlog stood at about Rs 1.10 lakh crore as on 31 March 2016. The company removed orders amounting Rs 3783 crore from the order book in Q4 March 2016. It removed orders amounting Rs 7429 crore from the order book in the year ended 31 March 2016, which are not likely to commence. The result was announced after trading hours on Friday, 27 May 2016.

Tata Steel will be in focus after global credit rating agency Moodys Investors Service on Friday, 27 May 2016, said that the proposed sale of Tata Steel UKs long products Europe business to Greybull Capital and Tata Steel Europes decision to sell its UK business are credit positive on its ratings on Tata Steel and Tata Steel UK. Moodys said that the divestment of the loss-making operations will reduce the drag on the European business profitability, which has been under strain for a while. Tata Steel Europe has initiated the process of selling its entire holding in Tata Steel UK due to the deteriorating financial performance of the UK subsidiary. Moodys said that it will watch out for clarity on divestment of liabilities including pensions and erasing the negative EBITDA impact of the UK facilities on Tata Steel UKs credit metrics would be critical for any change in outlook to its rating on Tata Steel UK.

Hindalco Industries net profit jumped 123.36% to Rs 356.33 crore on 7.6% fall in total income to Rs 8871.66 crore in Q4 March 2016 over Q4 March 2015. The result was announced on Saturday, 28 May 2016. The revenue from operations dropped 7.51% to Rs 8667.52 crore in Q4 March 2016 over Q4 March 2015. The company attributed the decline in revenue to a sharp decline in both aluminium and copper realizations. In aluminium, the impact was much severe due to a sharp fall in local market premium and a sharp surge in imports of aluminium in the country. The company said its operational performance was strong. A strong increase in aluminium volumes, a thrust on value addition across businesses, lower cost of raw materials and a weaker rupee helped the company partially offset the impact of a sharp fall in realizations. The bottom line was boosted by base effect. The companys bottom line in Q4 March 2015 was adversely impacted by a non-recurring expenditure of Rs 146.48 crore.

With regard to the future business outlook, Hindalco said that the uncertain global macros pose several challenges for the company. The management will continue its un-relented focus on operational excellence, enhanced value addition and cash conservation to tide over these circumstances.

Tata Motors, Mahindra & Mahindra, Sun Pharmaceutical Industries, Aurobindo Pharma and NTPC are scheduled to announce Q4 March 2016 results today, 30 May 2016.

Maruti Suzuki India said that the company is all set to start exports of its much awaited Light Commercial Vehicle Super Carry to South Africa and Tanzania. The announcement was made after market hours on Friday, 27 May 2016. The first lot of nearly 100 Super Carry Light Commercial Vehicles has been dispatched for shipment, Maruti Suzuki India said. The shipment to South Africa and Tanzania is of the petrol variant of Super Carry, the company said. The petrol variant for export market is powered by G12B engine. Besides African markets, the company also plans to export the Super Carry to South Asian Association for Regional Cooperation (SAARC) nations, it added. Based on the feedback, the company will explore export opportunities for Super Carry in other international markets, Maruti Suzuki India said. The India launch for Super Carry is planned in the second quarter of the current fiscal. To begin -with, it will be launched in select parts of the country. For the domestic market Super Carry will be powered by the E08 diesel engine. The company is setting up a separate retail channel in the Indian market, exclusively for the Super Carry, it added.

Tech Mahindra has entered into an agreement to acquire UK based Target Group for an enterprise value of GBP 112 million. The transaction is expected to close by 31 October 2016, subject to the receipt of regulatory approvals. Target Group is a financial technology (Fintech) and BPaaS (Business Process as a Service) provider in the banking, asset management, government and insurance sectors. Tech Mahindra said that the acquisition will broaden its service offerings in the banking, financial services and insurance (BFSI) domain and strengthen its presence in Europe. The acquisition will enhance Tech Mahindras capabilities and allow Tech Mahindra to capture a larger share of the GBP 45-60 billion annual spend by UK BFSI companies on software and services.

Target Group had revenue of GBP 51 million in the year ended 31 December 2015 (FY 2015). After the completion of the acquisition by Tech Mahindra, Target Group will remain a standalone entity retaining its existing brand, which has a strong reputation in the marketplace. The entire management team at Target will stay with the business and continue to have full operational responsibility. Tech Mahindra made the announcement of the acquisition after trading hours on Friday, 27 May 2016.

Sun Pharmaceutical Industries (Sun Pharma) announced that one of the companys US subsidiaries Sun Pharmaceutical Industries, Inc (SPII) has received a grand jury subpoena from the United States Department of Justice, Antitrust Division seeking documents from SPII and its affiliates relating to corporate and employee records, generic pharmaceutical products and pricing, communications with competitors and others regarding the sale of generic pharmaceutical products, and certain other related matters. SPII is currently responding to the subpoena, Sun Pharma said. Sun Pharma said it is of the opinion that the outcome of the referred enquiry is unlikely to have any material adverse impact on the consolidated operations or consolidated financial results of the company. The announcement was made after market hours on Friday, 27 May 2016.

Power Grid Corporation of India said that the board of directors at its meeting held on 26 May 2016 have accorded approval for investment of North Eastern Region Strengthening Scheme - IV (NERSS - IV) at an estimated cost of Rs 364.60 crore with commissioning schedule of 24 months from the date of investment approval. The announcement was made after market hours on Friday, 27 May 2016.

Rural Electrification Corporations net profit rose 5.79% to Rs 1160.03 crore on 13.29% rise in total income to Rs 6084.47 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours on Friday, 27 May 2016.

Sun TV Networks net profit rose 16.3% to Rs 236 crore on 6.8% rise in total income to Rs 610.94 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours on Friday, 27 May 2016.

NMDCs net profit dropped 59% to Rs 552.93 crore on 44.6% fall in total income to Rs 1967.94 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours on Friday, 27 May 2016. NMDC said that the company has incorporated a subsidiary company NMDC-Sail on 23 May 2016 in order to develop, explore, etc. sale / supply of iron ore from the allocated mining resource in the State of Chhattisgarh. NMDC will hold 51% while Sail will hold 49% stake in NMDC-Sail.

DLFs consoldiated net profit fell 22.9% to Rs 132.39 crore on 16.4% rise in total income to Rs 2495.78 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours on Friday, 27 May 2016.

Adani Ports and Special Economic Zone (APSEZ) said that it has raised Rs 200 crore by allotment of 2,000 rated, listed, secured, taxable, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each on private placement basis. The said NCDs will be listed on the wholesale debt market segment of BSE. The announcement was made after market hours on Friday, 27 May 2016.

Shares of ITC turn ex-dividend today, 30 May 2016 for dividend of Rs 8.50 per share for the year ended 31 March 2016.

Shares of Yes Bank turn ex-dividend today, 30 May 2016 for final dividend of Rs 10 per share for the year ended 31 March 2016.

Lux Industries said that the company has fixed 7 June 2016 as the record date for its 5-for-1 stock split proposal. The announcement was made after market hours on Friday, 27 May 2016.

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BPCL may gain as board recommends 1:1 bonus issue
May 27,2016

BPCLs net profit fell 10.64% to Rs 2549.08 crore on 13.55% decline in total income to Rs 44891.65 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 26 May 2016. The average gross refining margin (GRM) for Q4 March 2016 fell to $6.30 per barrel from $ 7.85 per barrel in Q4 March 2015. BPCL said that the board of directors recommended 1:1 bonus issue. The company has fixed 11 July 2016 as the record date for the bonus issue.

State-run ONGCs net profit rose 12.22% to Rs 4416.11 crore on 15.42% decline in total income to Rs 19776.70 crore in Q4 March 2016 over Q4 March 2015. The result was announced at the fag end of the trading session yesterday, 26 May 2016.

ONGCs net profit fell 9.75% to Rs 16003.65 crore on 4.14% decline in total income to Rs 84584.99 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

In terms of the decision of the Government of India, the company shared under-recoveries of oil marketing companies (OMCs) amounting to Rs 1096 crore for the year ended March 2016 (FY 2016) by allowing discount in the prices of crude oil based on the rates of discount communicated by Petroleum Planning and Analysis Cell (PPAC). The discount was sharply lower than Rs 36300 crore in the year ended 31 March 2015 (FY 2015). The impact on net profit was Rs 607 crore in FY 2016 as compared to Rs 20437 crore in FY 2015.

ONGCs consolidated net profit fell 22.96% to Rs 14123.80 crore on 16.63% decline in total income to Rs 139364.35 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

NTPC said that it has decided to raise Rs 1072.50 crore through private placement of secured non-convertible debentures at a coupon of 8.10% per annum. with a door to door maturity of 15 years today, 27 May 2016. The proceeds will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects including recoupment of expenditure already incurred. NTPC also informed that it has opened Pakri-Barwadih coal mining project (Western Pit).

Bharat Heavy Electricals (Bhel) and State Bank of India (SBI) will announce Q4 results today, 27 May 2016.

Power Grid Corporation of Indias net profit rose 13.2% to Rs 1599.05 crore on 21.42% rise in total income to Rs 5961.49 crore in Q4 March 2016 over Q4 March 2015. The result was announced after marke hours yesterday, 26 May 2016.

Sun Pharmaceutical Industries announced after market hours yesterday, 26 May 2016 that the parties have terminated the umbrella agreement as well as the transaction agreements executed between Daiichi Sankyo Company, Daiichi Sankyo (Thailand). Ranbaxy, Ranbaxy (Netherlands) B.V., Ranbaxy UNICHEM Company, Ranbaxy (Thailand) Company due to divestment of Ranbaxy by Daiichi Sankyo Company.

The parties had entered into a Termination Agreement on 26 May 2016 and agreed that the umbrella agreement as well as the executed transaction agreements will be terminated with effect as of the closing date, subject to the condition precedent of the occurrence of certain closing conditions as mutually agreed between the parties. Further, there is no material impact of such termination on either standalone or consolidated operations/ financial operations on Sun Pharma. Additionally, the termination agreement does not apply to, or have an impact upon, other business relationship that the parties to the termination agreement may have in force.

Jet Airways (India) posted a net profit of Rs 397.16 crore in Q4 March 2016 as compared to net loss of Rs 1728.99 crore in Q4 March 2015. Total income increased 3.04% to Rs 5451.28 crore in Q4 March 2016 over in Q4 March 2015. The announcement was made after market hours yesterday, 26 May 2016.

Neyveli Lignite Corporations net profit declined 34.06% to Rs 446.24 crore on 5.68% rise in total income to Rs 1964.58 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 May 2016.

Natco Pharmas consolidated net profit rose 10.65% to Rs 60.24 crore on 100.23% rise in total income to Rs 408.47 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 May 2016.

FDCs net profit rose 12.83% to Rs 38.24 crore on 14.69% rise in total income to Rs 248.29 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 May 2016.

HealthCare Global Enterprises consolidated net profit surged 11950% to Rs 4.82 crore on 16.32% rise in total income from operations (net) to Rs 153.75 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 May 2016.

Cosmo Films said that Cosmo Films ESOP 2015 Trust has acquired 33,396 shares of the company by market purchases during the period from 24 May 2016 to 26 May 2016. The announcement was made after market hours yesterday, 26 May 2016.

D B Corp will be in focus. The Reserve Bank of India has notified yesterday, 26 May 2016 that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from 20% to 26% of the paid up capital of D B Corp under the Portfolio Investment Scheme (PIS). The total foreign investment in the company from all sources i.e. Foreign Institutional Investors (FII)/Registered Foreign Portfolios Investors (RFPI)/Non-Resident Indians (NRI)/Foreign Direct Investment (FDI)/Persons of Indian Origin (PIO)/American Depository Receipts (ADR)/Global Depository Receipts (GDR) shall not exceed 26% of the paid up capital of the company. The Reserve Bank further advised that the foreign share holding by FII/RFPI/ NRI/FDI/PIO/ADR/GDR in D.B. Corp have gone below the revised threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.

The Reserve Bank has stated that the company has passed resolutions at its Board of Directors level, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures. The purchases could be made through primary market and stock exchanges.

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L&T may gain after announcing good Q4 results
May 26,2016

L&T after market hours yesterday, 25 May 2016 reported 18.55% rise in consolidated net profit to Rs 2453.64 crore on 17.88% rise in total income to Rs 33375.26 crore in Q4 March 2016 over Q4 March 2015.

The order inflow during Q4 March 2016 was Rs 43334 crore of which one third constituted international orders, L&T said. The order intake of L&Ts infrastructure division rose just 3% at Rs 29103 crore in Q4 March 2016 over Q4 March 2015. The order intake of its hydrocarbon divsion rose sharply to Rs 4963 crore in Q4 March 2016 from Rs 699 crore in Q4 March 2015.

L&Ts order book stood at Rs 249949 crore as at 31 March 2016, higher by 7% on year-on-year basis. International order book constituted 28% of the total order book.

The companys consolidated net profit rose 6.83% to to Rs 5090.53 crore on 11.53% rise in total income to Rs 103814.72 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

L&T garnered fresh orders worth Rs 136858 crore at consolidated in the year ended 31 March 2016. The international orders during the year at Rs 43956 crore constitute 32% of the total order inflow, L&T said. 62% of the total order inflow during the year was secured by the infrastructure segment, the company said in a statement.

In its outlook, L&T said that the domestic market continues to hold promise for revival of growth. Private sector and industrial capex is likely to take time to revive as investment sentiment is weak. Execution conditions remain challenging, mainly due to the limitation of the projects /clients to raise finances and slower clearances for land and environment. Banking system was stretched in corporate lending.

Growth momentum in the infrastructure segment rests mainly on the government initiatives in the core infrastructure such as Transportation, Power T&D, defence, smart cities and water projects.

On the international front, Asia, Middle East and Africa are seeking investment led growth. Global slowdown of under utilized capacities amongst EPC players have created opportunities for project implementation at competitive cost. Priority projects will receive Government sponsorship and multilateral funding.

Meanwhile, the company continues emphasis on operational efficiencies, faster execution of projects on hand and reduced working capital levels. Given track record, diversified portfolio and healthy order book, the company is focusing on profitable execution and is confident of growth in the near to medium term by leveraging presence in both the domestic and international segments.

Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016 compared with consolidated net loss of Rs 5674.29 crore in Q4 March 2015. Total income fell 12.33% to Rs 29636.69 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 25 May 2016

Tata Steel announced the start of commercial production at the 3 million tonnes per annum (MTPA) Kalinganagar steel plant. The stabilisation process is currently underway. The facility will produce flat steel for high end applications enabling the company to expand its product portfolio in the ship building, defence equipment, energy & power, infrastructure, and aviation sectors. Itwill also consolidate Tata Steels leadership position in the domestic automotive segment.

BPCL announces Q4 results today, 26 May 2016.

Coal India after market hours yesterday, 25 May 2016 said that registration requirements, schedule of dates for submitting applications and other details will be available from 26 May 2016 for auction for sponge iron sub-sector, followed by other sectors. It may be recalled that the Ministry of Coal had on 15 February 2016 issued policy guidelines and directed Coal India to conduct auction of coal linkages for the non-regulated sector.

GAIL (India) after market hours yesterday, 25 May 2016 reported 50.75% rise in net profit to Rs 769.99 crore on 17.73% fall in total income to Rs 11952.82 crore in Q4 March 2016 over Q4 March 2015.

The increase in net profit during Q4 March 2016 was mainly due to increase in natural gas sales and transmission volumes. Revenues from natural gas transmission business increased by 11% to Rs 1028 crore in Q4 March 2016 over Q4 March 2015.

Natural gas sales rose 8% to 74.41 MMSCMD in Q4 March 2016 over Q4 March 2015. Natural gas transmission rose 11% to 95.31 MMSCMD in Q4 March 2016 over Q4 March 2015.

National Aluminium Company (Nalco) said that the companys board of directors has unanimously approved the alteration of articles of association of the company to empower the company to buyback its shares. The companys board approved the proposal to buyback of not exceeding 64.43 crore equity shares of the company (representing 25% of the total number of equity shares in the paid-up share capital of the company) at a price of Rs 44 per share for an aggregate consideration not exceeding Rs 2834.96 crore from all the equity shareholders of the company, as on the record date, on a proportionate basis through a tender offer route. The board of directors noted the intention of the promoter of the company to participate in the proposed buyback.

Housing Development and Infrastructure (HDIL) said that the company proposes to consider issue of warrants to promoter(s) as per provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time in its board meeting scheduled to be held on 28 May 2016. The announcement was made after market hours yesterday, 25 May 2016.

Oil & gas stocks will be in focus. The Ministry of Petroleum and Natural Gas yesterday, 25 May 2016, announced the commencement of the process for auction of small oil and gas blocks. The government will auction 46 contract areas consisting of 67 different small fields for exploration and production. These small blocks have 625 million barrels of oil and oil equivalent gas (O+OEG) in-place volumes spread over 1,500 square kilometers in Onland, Shallow water and Deepwater areas. These oil and gas blocks are being auctioned under the new Hydrocarbon Exploration and Licensing Policy (HELP) and a new fiscal model based on revenue sharing contract. Single license for exploring all forms of hydrocarbons, graded system of royalty rates, pricing and marketing freedom for crude oil and natural gas are some of the highlights of HELP.

Yes Bank will be in focus. The Cabinet Committee on Economic Affairs (CCEA) has cleared the banks proposal for increase in foreign investment limit in the banks equity capital to 74% from 41.87% without any sub-limits. The announcement hit the market after trading hours. In late April 2016, the Reserve Bank of India (RBI) had raised the ceiling on investment in the banks equity capital by foreign institutional investors to 60% from 49% after the banks board of directors and shareholders approved the proposal. The RBI had at time capped total foreign holding in the bank from all sources at 60%.

National Buildings Construction Corporation (NBCC) will be in focus. The Union Cabinet, chaired by the Prime Minister Narendra Modi yesterday, 25 May 2016 has given its approval for financial restructuring of Hindustan Steel Works Construction (HSCL) and approved its takeover by NBCC.

Under the proposal, the Government of India Non Plan Loan and Plan Loan along with accumulated interest thereon and outstanding guarantee fee worth Rs 1502.2 crore will be converted into equity and equity capital of the company will be raised to that extent. The paid up equity capital of the company will become Rs 1619.3 crore. Against this, the accumulated losses of Rs 1585 crore, as on 31 March 2015, will set off. After writing off of the accumulated losses, the equity and paid up capital of HSCL will become Rs 34.3 crore. NBCC will infuse funds of Rs 35.7 crore as equity into HSCL. HSCL will become subsidiary of NBCC with NBCC holding 51% equity holding. The shareholding of Government of India in HSCL will be reduced to 49%. The equity and paid up capital of HSCL will become Rs 70 crore.

NBCC and HSCL are Government of India enterprises with similar lines of business activities. The decision will benefit in economies of scale for NBCC and would assist in better manpower utilization. NBCC and HSCL will benefit from each others resources and expertise. HSCL will be able to fulfill its commitments of execution of projects and the orders.

Government of India will provide one-time support of Rs 200 crore for settling term loans availed from commercial banks. It will also bear the contingent liability of Rs 110 crore (approximately) as decided by the Supreme Court in compensation for VRS liabilities. In addition, Government of India will also pay the outstanding interest on the bank loans for the financial year 2015-16 amounting to Rs 44 crore approximately (till 31 March 2016) and the amount of interest up to the date of takeover of HSCL by NBCC.

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Tech Mahindra may gain after announcing strong Q4 results
May 25,2016

Tech Mahindras consolidated net profit rose 18.15% to Rs 897 crore on 2.72% rise in revenue from services to Rs 6883.70 crore in Q4 March 2016 over Q3 December 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 2.2% to Rs 1161.30 crore in Q4 March 2016 over Q3 December 2015. The EBITDA margin dropped to 16.87% in Q4 March 2016 from 16.95% in Q3 December 2015. The result was announced after market hours yesterday, 24 May 2016.

Meanwhile, the company has dropped its plan to set up a payments bank. The company had received in-principle approval from the Reserve Bank of India in August 2015 for setting up a payments bank.

Bajaj Auto, GAIL (India), Tata Steel and L&T will announce Q4 results today, 25 May 2016.

Axis Bank said that the bank has incorporated a company, A.Treds, which is registered with the Ministry of Corporate Affairs, Registrar of Companies, Mumbai, on 23 May 2016. A.Treds is incorporated as a subsidiary company of the bank, Axis Bank. A.Treds will be engaged in undertaking the business of setting up and operating a trade receivables discounting system, as per the in-principal approval received from the Reserve Bank of India. The announcement was made after market hours yesterday, 24 May 2016.

On 17 March 2016, Bharti Airtel (Airtel) and Videocon Telecommunications (VTL) entered into a definitive agreement, wherein, Airtel proposed to acquire, for an aggregate consideration of Rs 4428 crore, the rights to use 2 x 5 MHz spectrum in the 1800 MHz band allotted to VTL by the Government of India for six circles - Bihar, Gujarat, Haryana, Madhya Pradesh , UP (East) and UP (West). The proposed transaction has been successfully concluded on 24 May 2016 following all necessary approvals and the satisfaction of all the conditions (including conditions stated in the Spectrum Trading Guidelines), the two companies said in a joint statement after market hours yesterday, 24 May 2016.

Ciplas consolidated net profit fell 68.85% to Rs 80.87 crore on 5.62% growth in total income from operations (net) to Rs 3266.54 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016. The companys earnings before interest, taxation, depreciation and amortization (EBITDA) declined 56.9% to Rs 219 crore in Q4 March 2016 over Q4 March 2015.

Bajaj Finservs consolidated net profit fell 26.75% to Rs 517.95 crore on 6.7% growth in total income from operations (net) to Rs 2567.03 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016.

Bank of India posted a net loss of Rs 3587.09 crore in Q4 March 2016, higher than net loss of Rs 56.14 crore in Q4 March 2015. Total income fell 7.34% to Rs 11384.91 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016.

The banks gross non-performing assets (NPAs) stood at Rs 49879.13 crore as on 31 March 2016 as against Rs 36519.14 crore as on 31 December 2015 and Rs 22193.24 crore as on 31 March 2015. The ratio of gross NPAs to gross advances stood at 13.07% as on 31 March 2016 as against 9.18% as on 31 December 2015 and 5.39% as on 31 March 2015. The ratio of net NPAs to net advances stood at 7.79% as on 31 March 2016 as against 5.25% as on 31 December 2015 and 3.36% as on 31 March 2015.

Mercator said that the board of directors of the company will also consider various fund raising options, including issue of equity shares/ preference shares and/or any other securities convertible in to equity shares, or carrying a right to subscribe to equity shares; or non-convertible securities; whether in India and/or in abroad along with results on 27 May 2016.

Amara Raja Batteries net profit rose 6.19% to Rs 108.60 crore on 9.56% rise in total income to Rs 1179.39 crore in Q4 March 2016 over Q4 March 2015. The result was announced before market hours today, 25 May 2016.

PI Industries net profit jumped 57.99% to Rs 95.30 crore on 8.56% rise in total income to Rs 591.76 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016.

Gujarat State Fertilizers & Chemicals net profit dropped 49.5% to Rs 32.57 crore on 30.2% rise in total income to Rs 1715.30 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016.

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Tata Power in spotlight after Q4 results
May 24,2016

Tata Power Companys (Tata Power) consolidated net profit rose 126% to Rs 360 crore on 17% growth in revenue to Rs 9626 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 23 May 2016.

Tata Power said that the company aims to increase the share of non-fossil fuel based power generation output to 30-40% by 2025, up from its earlier target of 20%.

Cipla and Tech Mahindra are scheduled to announce their Q4 March 2016 results today, 24 May 2016.

TCS announced the release of a new module for its Digital Software & Solutions (DS&S) Groups Customer Insights & Intelligence (CI&I) Solution for retail banks. The new software release features an operational analytics module that enables retail banks to understand in real-time how the product fulfillment process for consumer banking operations impacts multiple departmental touch points, and provides recommendations on operational processes to better serve their customers, TCS said in a statement. The companys CI&I Solution for retail banks features a unified set of data models and out-of-the-box KPIs that address key business issues relevant to the banking industry, TCS said in a statement. The announcement was made after market hours yesterday, 23 May 2016.

Novartis India said that the companys board of directors will also consider a proposal for buyback of the companys equity shares, constitution of buyback committee, and appointment of intermediaries in accordance with all applicable provisions of laws along with the Q4 March 2016 result on 26 May 2016. The announcement was made after market hours yesterday, 23 May 2016.

Chennai Petroleum Corporations net profit dropped 27.14% to Rs 265.59 crore on 33.48% growth in total income from operations (net) to Rs 5869.65 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 23 May 2016.

National Fertilizers reported net profit of Rs 31.44 crore in Q4 March 2016 compared with net loss of Rs 100.57 crore in Q4 March 2015. The companys total income from operations rose 5.48% to Rs 1641.68 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 23 May 2016.

Kewal Kiran Clothings net profit rose 1.77% to Rs 21.79 crore on 20.91% growth in total income from operations to Rs 126.65 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 23 May 2016.

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Britannia Industries may gain after reporting good Q4 results
May 23,2016

Britannia Industries consolidated net profit rose 13.73% to Rs 190.23 crore on 6.87% rise in total income to Rs 2235.68 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours on Friday, 20 May 2016. The revenue growth was impacted due to phasing out of excise duty incentives available to the company.

Reliance Communications (Rcom) announced on Saturday, 21 May 2016 that, based on the substantial further progress made, RCcom, Maxis Communications Berhad (MCB) and Sindya Securities and Investments (Sindya) have mutually extended the exclusivity period between RCom and MCB and Sindya, with the shareholders of Aircel (Aircel), by 30 days to 22 June 2016, to consider the potential combination of the Indian wireless business of RCcom and Aircel and mutually derive the expected substantial benefits of in-country consolidation, including opex and capex synergies and revenue enhancement.

The discussions, though at advanced stage, are non-binding in nature. Any transaction is subject to completion of due diligence, definitive documentation and regulatory, shareholders and other third party approvals. Hence, there is no certainty that any transaction will result.

Tata Power Company will announce Q4 results today, 23 May 2016.

Balrampur Chini Mills net profit rose 30.28% to Rs 98.78 crore on 17.08% rise in total income to Rs 777.19 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours on Friday, 20 May 2016.

Kothari Products net profit fell 9.92% to Rs 8.17 crore on 0.92% decline in net total income from operations to Rs 1402.09 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours on Friday, 20 May 2016.

CESC announced that the company has won the bids floated by Jaipur Vidyut Vitaran Nigam (JVVNL) and have been appointed by JVVNL as distribution franchisees for the cities of Kota and Bharatpur in the state of Rajasthan for distribution and supply of electricity for a term of twenty years each. The announcement was made after market hours on Friday, 20 May 2016.

Shares of Multi Commodity Exchange of India (MCX) may edge higher after the Reserve Bank of India (RBI) removed the restrictions placed on purchase of the companys shares by foreign institutional investors (FIIs) with immediate effect. The RBI after trading hours on Friday, 20 May 2016, said that the aggregate shareholding of FIIs in MCX has gone below the prescribed threshold caution limit stipulated as per the current FDI policy.

Ruchi Soya Industries said on Sunday, 22 May 2016 that the company has disposed off its entire stake in the joint venture company namely, Ruchi Kagome Foods India at a consideration of Rs 63 crore and has entered into termination agreement and share purchase agreement with Kagome Co. and others, on 20 May 2016, resulting into termination of joint venture arrangement with the parties thereto.

Country Club Hospitality & Holidays announced on Saturday, 21 May 2016 that the company has started a new venture as Country Club Wellness World at Delhi. Country Clubs massive network includes over 25 fitness centres in India, Middle East, Malaysia and over 50 clubs, resorts and hotels in India, Middle East, Malaysia, Singapore, Bangkok and Sri Lanka.

Just Dials net profit fell 25.08% to Rs 35.33 crore on 6.34% rise in total income to Rs 195.15 crore in Q4 March 2016 over Q4 March 2015. The result was announced on Saturday, 21 May 2016.

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ITC in focus ahead of Q4 results
May 20,2016

Cigarette major ITC is scheduled to announce its Q4 March 2016 results today, 20 May 2016.

Wipro announced that Designit, a global strategic design firm and part of the company announced the opening of its US headquarters in the heart of New Yorks Union Square. The new office will serve as a global center for Designits product-service innovation and experience-driven design services. Wipro also announced that it has joined the partnership for New York City to mark Designits entry into the city and commitment to growing New York as a center of innovation, particularly in design and technology. The announcement was made after market hours yesterday, 19 May 2016.

Maruti Suzuki India (MSIL) announced that it will undertake a service campaign to inspect fault and replace a brake part in 20,427 units of S-Cross. These vehicles were manufactured between 20 April 2015 and 12 February 2016. This service campaign applies to both the variants of S-Cross, MSIL said. The inspection and replacement will be done free of cost for the customers, it added. The announcement was made after market hours yesterday, 19 May 2016.

Esab India reported a net profit of Rs 9.37 crore in the quarter ended 31 March 2016 compared with net loss of Rs 1.38 crore in the quarter ended 31 March 2015. Net total income from operations rose 7.56% to Rs 114.65 crore in the quarter ended 31 March 2016 over the quarter ended 31 March 2015. The result was announced after market hours yesterday, 19 May 2016.

Gujarat State Petronets net profit rose 48.6% to Rs 99.70 crore on 2.1% decline in total income to Rs 244.98 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 19 May 2016.

GHCLs net profit rose 54.49% to Rs 78.96 crore on 1.45% rise in net total income from operations to Rs 650.40 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 19 May 2016.

Vaibhav Globals consolidated net profit fell 50% to Rs 8.78 crore on 1.77% decline in net total income from operations to Rs 350.50 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 19 May 2016.

Ajmera Realty & Infra Indias consolidated net profit rose 35.03% to Rs 21.97 crore on 15.23% rise in net total income from operations to Rs 169.23 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 19 May 2016.

Mahindra Lifespace Developers announced that it has launched on 19 May 2016 Phase 3 of its residential project Anthenia in Pimpri, Pune. The announcement was made after market hours yesterday, 19 May 2016.

WABCO Indias net profit rose 88.44% to Rs 57.28 crore on 47.84% rise in net total income from operations to Rs 566.51 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 19 May 2016.

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Lupin in focus ahead of Q4 results
May 19,2016

Pharma major Lupin is set to announce its Q4 March 2016 earnings today, 19 May 2016.

TCS announced five-year partnership with Lidingoloppet, the legendary Swedish sports event, widely regarded as the worlds largest cross-country race. Under the terms of the agreement, TCS will become the title sponsor and official technology partner for the event. The announcement was made after market hours yesterday, 18 May 2016.

Wipro announced that Vestas Wind Systems selected the company as its strategic IT partner to provide workplace services. The announcement was made after market hours yesterday, 18 May 2016. Headquartered in Aarhus, Denmark, Vestas is a global energy company that delivers best in class wind energy solutions in over 75 countries.

Axis Bank announced that its board of directors at a meeting held yesterday, 18 May 2016, passed a resolution approving the allotment of two senior notes aggregating to $10 million each, under the MTN programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday, 18 May 2016.

Coal India (CIL) said that on 17 May 2016, the Competition Appellate Tribunal (Compat) allowed CILs appeal setting aside the orders of the Competition Commission of India (CCI) imposing penalty of Rs 1773 crore in relation to complaints filed by various power and non-power companies on 9 December 2013 against Coal India and three of its subsidiaries alleging misuse of their monopoly to supply poor quality coal and fixing prices. The case has been remitted back to CCl for it to hear the matter again on merits and pass fresh orders. The CCI has been directed to pass this order within two months. The announcement was made after market hours yesterday, 18 May 2016.

The CCI in December 2013 had found Coal India and its three subsidiaries viz. Mahanadi Coalfields, Western Coalfields and South Eastern Coalfields guilty of abusing their dominant position for supplying non-coking coal and having unfair fuel supply contracts.

Shares of Parag Milk Foods debuts on the stock exchanges today, 19 May 2016. The initial public offer (IPO) price for the issue was fixed at Rs 215 per share. The IPO of Parag Milk Foods was subscribed 1.83 times. Parag Milk Foods manufactures a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

Unitech may edge lower after the National Stock Exchange (NSE) after trading hours yesterday, 18 May 2016, announced the removal of the stock from its futures & options (F&O) segment. F&O contracts for new expiry months in Unitech will not be issued, NSE said in a circular. The existing unexpired contracts of expiry months May 2016, June 2016 and July 2016 would continue to be available for trading till their respective expiry.

Kirloskar Electric Company announced that the board of directors of the company approved to raise funds by issuing equity shares through qualified institutions placement route for an amount upto Rs 75 crore. The board also approved to increase the limit of holding by foreign entities in the company from 24% to 49%; The announcement was made after market hours yesterday, 18 May 2016.

Dalmia Bharats consolidated net profit jumped 142.93% to Rs 114.86 crore on 47.83% growth in net total income from operations to Rs 1913.26 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 18 May 2016.

PTC Indias net profit declined 29.67% to Rs 39.69 crore on 29.47% growth in total income to Rs 3057.66 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 18 May 2016.

IFB Industries net profit jumped 325.42% to Rs 5.02 crore on 12.72% rise in net total income from operations to Rs 368.51 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 18 May 2016.

JK Lakshmi Cements net profit spurted 699.66% to Rs 48.38 crore on 29.09% rise in total income to Rs 769.35 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 18 May 2016.

JK Lakshmi Cement said that companys steep growth in production and sales along with its relentless efforts to improve efficiency and cutting its operating cost has enabled the company to post profitability of Rs 30.51 crore at profit before tax (PBT) level in Q4 March 2016 after witnessing losses in the previous three quarters. The net profit spurted with the recognition of deferred tax asset in Q4 March 2016. However, the company said that its profitability was affected due to the additional burden of interest and depreciation with the commissioning of the first phase of the greenfield plant at Durg, besides lower prices.

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SBI in spotlight on plans to acquire subsidiary banks
May 18,2016

State Bank of India (SBI) after trading hours yesterday, 17 May 2016, announced that it is seeking in principle sanction of the Government of India (GoI) to enter into negotiation with its 5 subsidiary banks viz. State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore to acquire their businesses including assets and liabilities. The decision is purely exploratory at this stage and there is no certainty in relation to SBI completing the acquisitions, SBI said. SBIs board of directors will take a final call after evaluating all the relevant considerations. SBI also said that it is considering acquisition of Bharatiya Mahila Bank.

Axis Bank has kept its lending rates based on marginal cost of funds unchanged effective from 18 May 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.95%, the rate for one month will be 9.05% and for three months it will be 9.25%. The MCLR on 6-month loans will be 9.3% and for one-year loans the rate will be 9.35%, the bank said. MCLR on two-year loans will be 9.45% and for three-year loans the rate will be 9.5%. The announcement was made after market hours yesterday, 17 May 2016.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

Punjab National Bank is scheduled to announce its Q4 March 2016 results today, 18 May 2016.

United Bank of lndia reported net loss of Rs 413.04 crore in Q4 March 2016 compared with net profit of Rs 104.52 crore in Q4 March 2015. Total income fell 12.71% to Rs 2752.35 crore in Q4 March 2016 over Q4 March 2015. The banks gross non-performing assets (NPAs) stood at Rs 9471.01 crore as on 31 March 2016 as against Rs 6721.53 crore as on 31 December 2015 and Rs 6552.91 crore as on 31 March 2015. The ratio of gross NPAs to gross advances stood at 13.26% as on 31 March 2016 as against 9.57% as on 31 December 2015 and 9.49% as on 31 March 2015. The ratio of net NPAs to net advances stood at 9.04% as on 31 March 2016 as against 5.91% as on 31 December 2015 and 6.22% as on 31 March 2015. The banks provisions and contingencies (excluding tax provisions) rose 73.55% to Rs 1173.43 crore in Q4 March 2016 over Q4 March 2015. The provision coverage ratio stood at 53.36% as on 31 March 2016. The result was announced after market hours yesterday, 17 May 2016.

TCS announced after market hours yesterday, 17 May 2016, that IDBI Banks financial services arm IDBI Capital Market Services has gone operational with the securities trading and processing solution from TCS BaNCS for its online brokerage business.

GlaxoSmithkline Consumer Healthcares (GSK Consumer Healthcare) net profit fell 8.18% to Rs 180.68 crore on 8.51% decline in total income to Rs 1166.40 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 17 May 2016.

Vascon Engineers reported consolidated net profit of Rs 6.67 crore in Q4 March 2016 as against net loss of Rs 75.62 crore in Q4 March 2015. Net total income from operations rose 4.64% to Rs 180.56 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 17 May 2016.

Nestle India turns ex-dividend today, 18 May 2016 for final dividend of Rs 18.50 per share for the year ended 31 December 2015 (FY 2015). The stock also turns ex-dividend today, 18 May 2016 for interim dividend of Rs 12 per share for the year ending 31 December 2016 (FY 2016).

MIC Electronics said that the board of directors of the company at its meeting held yesterday, 17 May 2016, concluded issue and allotment of 1.08 crore equity shares by conversion of preferential convertible equity share warrants to the promoters and investors in 1:1 ratio. A total of 93.22 lakh shares were alloted to three promoters and a total of 15 lakh shares were alloted to five investors. The announcement was made after market hours yesterday, 17 May 2016.

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Wipro in focus after securing contract from Xactly Corporation
May 17,2016

Wipro announced a partnership with Xactly Corporation, a leading provider of enterprise-class, SaaS and cloud-based incentive solutions for employee and sales performance management. The partnership will offer sales performance management (SPM) solutions for customer organizations across industry sectors in a software as a service model. The announcement was made after market hours yesterday, 16 May 2016.

TCS said that Siemens, a leading global technology powerhouse and the company will leverage their longstanding partnership to expand and enhance the delivery of product performance intelligence through big data analytics to the global manufacturing industry. The announcement was made after market hours yesterday, 16 May 2016.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) yesterday, 16 May 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 16/17 May 2016. Petrol price was hiked by Rs 0.83 per litre and diesel price was raised by Rs 1.26 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 63.02 per litre and diesel costs Rs 51.67 a litre.

NTPC announced that it has entered into an agreement with Coal India for formation of a 50:50 joint venture company to take up the revival of fertilizer plants of Fertilizer Corporation of India (FCIL) at Sindri, Bihar and Gorakhpur, Uttar Pradesh by setting up an ammonia urea plant at each location. The announcement was made after market hours yesterday, 16 May 2016.

ITC announced that the scheme of amalgamation of BFIL Finance with Russell Credit became effective from 16 May 2016. BFIL Finance is a wholly owned subsidiary of Russell Credit, which in turn is a wholly owned subsidiary of ITC. Consequently, BFIL Finance has ceased to be a subsidiary of Russell Credit and that of ITC with effect from 16 May 2016. The announcement was made after market hours yesterday, 16 May 2016.

Petronet LNGs net profit fell 20.43% to Rs 239.27 crore on 15.39% decline in total income to Rs 6107.95 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 16 May 2016.

Solar Industries Indias consolidated net profit rose 20.24% to Rs 48.21 crore on 10.83% rise in net sales to Rs 428.84 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 16 May 2016.

Solar Industries India said that the board of directors of the company considered and approved 5 for 1 stock split.

Triveni Engineering & Industries reported consolidated net profit of Rs 44.14 crore in Q4 March 2016 compared with consolidated net loss of Rs 85.60 crore in Q4 March 2015. Consolidated net total income from operations rose 4.55% to Rs 468.05 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 16 May 2016.

Advani Hotels & Resorts (India)s net profit rose 79% to Rs 4.23 crore on 18% rise in operational income to Rs 17.14 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 16 May 2016.

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Bank of Baroda in focus after Q4 results
May 16,2016

Shares of Bank of Baroda (BoB) may edge lower after the bank reported net loss of Rs 3230.14 crore in Q4 March 2016 comapared with net profit of Rs 598.35 crore in Q4 March 2015. Total income rose 6.06% to Rs 12789.06 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 13 May 2016. The banks gross non-performing assets (NPA) stood at Rs 40521.04 crore as on 31 March 2016 compared with Rs 38934.11 crore as on 31 December 2015 and Rs 16261.45 crore as on 31 March 2015. The ratio of gross NPA to gross advances stood at 9.99% as on 31 March 2016 compared with 9.68% as on 31 December 2015 and 3.72% as on 31 March 2015. The ratio of net NPA to net advances stood at 5.06% as on 31 March 2016 compared with 5.67% as on 31 December 2015 and 1.89% as on 31 March 2015. BOBs provisions and contingencies jumped 277.31% to Rs 6857.66 crore in Q4 March 2016 over Q4 March 2015.

BOBs board of directors has not announced dividend for the financial year ended 31 March 2016 (FY 2016) as the bank reported net loss in FY 2016.

BoB said that its asset quality has stabilized and that the management expects the bank to return to black during the current financial year. The state-run bank posted a massive net loss of Rs 5395.55 crore in the year ended 31 March 2016 (FY 2016) as against a net profit of Rs 3398.43 crore in the year ended 31 March 2015 (FY 2015). The reason for the massive net loss was due to additional provisions that the state-run bank made with respect to certain loans in Q3 December 2015 and Q4 March 2016 as a part of an asset quality review (AQR) being carried out by the Reserve Bank of India for the banking sector as a whole. The provision coverage ratio (PCR) of the bank improved to 60.09% as on 31 March 2016 from 52.7% as on 31 December 2015. The total restructured standard assets of the bank dropped to Rs 13735 crore on 31 March 2016 from Rs 17135 crore as on 31 December 2015.

Union Bank of Indias (UBI) net profit fell 78.34% to Rs 96.12 crore on 5.32% decline in total income to Rs 8884.41 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 13 May 2016. The banks gross non-performing assets (NPA) stood at Rs 24170.89 crore as on 31 March 2016 compared with Rs 18495.16 crore as on 31 December 2015 and Rs 13030.87 crore as on 31 March 2015. The ratio of gross NPA to gross advances stood at 8.7% as on 31 March 2016 compared with 7.05% as on 31 December 2015 and 4.96% as on 31 March 2015. The ratio of net NPA to net advances stood at 5.25% as on 31 March 2016 compared with 4.07% as on 31 December 2015 and 2.71% as on 31 March 2015. UBIs provisions and contingencies rose 54.92% to Rs 1564.67 crore in Q4 March 2016 over Q4 March 2015. The banks provision coverage ratio stood at 50.98% as on 31 March 2016.

Among prominent results, Petronet LNG, Tata Coffee, Brigade Enterprises and JK Tyre & Industries are scheduled to announce their Q4 March 2016 results today, 16 May 2016.

Ahluwalia Contracts (India) announced that it has secured new orders aggregating to about Rs 492.65 crore. The companys unexecuted order book as on date stands at Rs 4507 crore, Ahluwalia Contracts (India) said. The announcement was made after market hours on Friday, 13 May 2016.

Bayer CropSciences net profit fell 61.98% to Rs 16.50 crore on 8.56% decline in total income to Rs 540.90 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 13 May 2016.

Piramal Enterprises announced after market hours on Friday, 13 May 2016, that its consumer products division has entered into an agreement to acquire four brands from Pfizer for a consideration of Rs 110 crore. The acquisition includes brands namely Ferradol, Neko, Sloans and Waterburys Compound. Additionally the agreement also includes the trademark rights for Ferradol and Waterburys Compound in Bangladesh and Sri Lanka. These brands hold a rich legacy and have a high consumer pull and are available in India for the past 30 plus years, Piramal said in a statement. These products currently operate in a market which is currently estimated at Rs 7000 crore, it added. Completion of the deal is subject to certain conditions including regulatory approvals, Piramal said.

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Nestle India in focus after Q1 results
May 13,2016

Nestle Indias net profit fell 19.13% to Rs 259 crore on 8.5% decline in total income from operations (net) to Rs 2302.46 crore in Q1 March 2016 over Q1 March 2015. The result hit the market after trading hours yesterday, 12 May 2016. The company said that the Maggi Noodles issue adversely impacted the financial performance in the first quarter. Nestle relaunched Maggi noodles in the market at the beginning of November 2015 after it withdrew the product from the market in June 2015 amid allegations that it contained high levels of lead.

Nestle Indias Chairman and Managing Director Suresh Narayanan said that Maggi noodles has already regained leadership with over 50% market share within 5 months of relaunch. He said that Nestle India is gearing up for volume growth with renewed focus and commitment on consumer relevant innovation and renovation. Narayanan said that the management is working on increasing penetration for all product categories of the company including milk & nutrition, chocolate & confectionary and coffee & beverages. Narayanan said that the companys Q1 March 2016 results show further improvement in sequential performance, both in sales and profit margins.

Shares of Crompton Greaves Consumer Electricals (CGCEL) gets listed on the stock exchanges today, 13 May 2016. Crompton Greaves demerged its consumer products business on a going concern basis into a wholly owned subsidiary CGCEL. As per the demerger scheme, CGCEL had issued and allotted one fully paid-up equity share of Rs 2 each for every one equity share of Rs 2 each held in Crompton Greaves.

Bank of Baroda is scheduled to announce its Q4 March 2016 results today, 13 May 2016.

Bank of Maharashtra reported net loss of Rs 119.84 crore in Q4 March 2016 compared with net profit of Rs 112.72 crore in Q4 March 2015. The result hit the market at the fag end of trading session yesterday, 12 May 2016. The banks gross non-performing assets (NPA) stood at Rs 10385.85 crore as on 31 March 2016, as against Rs 8301.62 crore as on 31 December 2015 and Rs 6402.06 crore as on 31 March 2015. The ratio of gross NPA to gross advances stood at 9.34% as on 31 March 2016, as against 7.97% as on 31 December 2015 and 6.33% as on 31 March 2015. The ratio of net NPA to net advances stood at 6.35% as on 31 March 2016 as against 5.52% as on 31 December 2015 and 4.19% as on 31 March 2015. The banks provisions and contingencies rose 57.32% to Rs 679.51 crore in Q4 March 2016 over Q4 March 2015.

Manappuram Finances consolidated net profit rose 86.63% to Rs 130.70 crore on 27.72% growth in total income to Rs 655.54 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 12 May 2016.

Kokuyo Camlins net profit declined 45.49% to Rs 2.36 crore on 8.63% growth in net total income from operations to Rs 177.14 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 12 May 2016.

Magma Fincorps consolidated net profit rose 25% to Rs 65.30 crore on 2.08% growth in net total income from operations to Rs 633 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 12 May 2016.

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