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Kirloskar Pneumatic hits record high after strong Q3 results
Jan 20,2017

Meanwhile, the S&P BSE Sensex was down 118.31 points or 0.43% at 27,190.29.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 2,440 shares in the past one quarter. The stock had hit a high of Rs 1,028 so far during the day, which is also its record high. The stock hit a low of Rs 905 so far during the day.

The stock had hit a 52-week low of Rs 622 on 15 February 2016. The stock had outperformed the market over the past one month till 19 January 2017, advancing 22.26% compared with the Sensexs 3.54% rise. The scrip had also outperformed the market over the past one quarter declining 0.27% as against the Sensexs 2.41% fall.

The small-cap company has equity capital of Rs 12.84 crore. Face value per share is Rs 10.

Shares of Kirloskar Pneumatic Company have rallied 30.73% in two trading sessions from its close of Rs 732.80 on 18 January 2017, after the company during market hours yesterday, 19 January 2017 reported strong Q3 December 2016 results. The stock had surged 17.92% to settle at Rs 864.10 yesterday, 19 January 2017.

Kirloskar Pneumatic Companys net profit jumped 288.9% to Rs 20.03 crore on 21.4% rise in net sales to Rs 123.91 crore in Q3 December 2016 over Q3 December 2015.

Kirloskar Pneumatic Company started its operations with the manufacture of air compressors and pneumatic tools. New product lines were then added, including air conditioning and refrigeration systems, marine HVACR, process gas systems and hydraulic power transmission machinery.

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MEP Infrastructure Developers subsidiary gets project finance
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 84.25 points, or 0.31%, to 27,224.35

On the BSE, so far 36,000 shares were traded in the counter, compared with average daily volumes of 42,291 shares in the past one quarter. The stock had hit a high of Rs 43.60 and a low of Rs 41.75 so far during the day.

The stock hit a 52-week high of Rs 50 on 23 September 2016. The stock hit a 52-week low of Rs 34 on 10 November 2016.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that the companys subsidiary MEP SANJOSE Arawali Kante Road has achieved the financial closure as per the concession agreement executed with the Ministry of Road Transport and Highways dated 28 June 2016. This is for the rehabilitation and up-gradation of National Highway 66 to four lane with paved shoulder in Maharashtra under NHDP IV on hybrid annuity mode by tying up of project finance of Rs 266.84 crore.

On a consolidated basis, MEP Infrastructure Developers reported net profit of Rs 62.42 crore in Q2 September 2016 as compared with net loss of Rs 11.23 crore in Q2 September 2015. Total income rose 22.2% to Rs 570.13 crore in Q2 September 2016 over Q2 September 2015.

MEP Infrastructure Developers is one of the leading infrastructure operator and toll management company.

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MEP Infrastructure Developers gains as subsidiary gets project finance
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 84.25 points, or 0.31%, to 27,224.35

On the BSE, so far 36,000 shares were traded in the counter, compared with average daily volumes of 42,291 shares in the past one quarter. The stock had hit a high of Rs 43.60 and a low of Rs 41.75 so far during the day.

The stock hit a 52-week high of Rs 50 on 23 September 2016. The stock hit a 52-week low of Rs 34 on 10 November 2016.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that the companys subsidiary MEP SANJOSE Arawali Kante Road has achieved the financial closure as per the concession agreement executed with the Ministry of Road Transport and Highways dated 28 June 2016. This is for the rehabilitation and up-gradation of National Highway 66 to four lane with paved shoulder in Maharashtra under NHDP IV on hybrid annuity mode by tying up of project finance of Rs 266.84 crore.

On a consolidated basis, MEP Infrastructure Developers reported net profit of Rs 62.42 crore in Q2 September 2016 as compared with net loss of Rs 11.23 crore in Q2 September 2015. Total income rose 22.2% to Rs 570.13 crore in Q2 September 2016 over Q2 September 2015.

MEP Infrastructure Developers is one of the leading infrastructure operator and toll management company.

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Bharti Airtel gains as board to mull fund raising
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 94.81 points, or 0.35%, to 27,213.79.

On the BSE, so far 8,644 shares were traded in the counter, compared with average daily volumes of 1.45 lakh shares in the past one quarter. The stock had hit a high of Rs 320.25 and a low of Rs 315.60 so far during the day.

The stock hit a 52-week high of Rs 384.90 on 28 April 2016. The stock hit a 52-week low of Rs 282.30 on 29 January 2016. The stock had outperformed the market over the past 30 days till 19 January 2017, rising 4.77% compared with the 4.06% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.31% as against Sensexs 2.74% decline.

The large-cap company has equity capital of Rs 1,998.70 crore. Face value per share is Rs 5.

Meanwhile, media reports sugested that Bharti Airtel has entered final stages of discussion with Norwegian telecom operator Telenor to acquire its local unit. The deal will be finalised by the end of February 2017, and that Airtel is a stronger negotiating position. Telenor, on the other hand, has been scouting for a buyer for a long time, reports added.

On a consolidated basis, Bharti Airtels net profit declined 4.9% to Rs 1460.70 crore on 3.4% growth in net sales to Rs 24651.50 crore in Q2 September 2016 over Q2 September 2015.

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.

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Axis Bank tumbles after weak Q3 outcome
Jan 20,2017

The result was announced after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 59 points, or 0.22%, to 27,249.60

On BSE, so far 3.27 lakh shares were traded in the counter, compared with average daily volume of 5.41 lakh shares in the past one quarter. The stock hit a high of Rs 461 and a low of Rs 452.05 so far during the day.

The stock hit a 52-week high of Rs 638 on 7 September 2016. The stock hit a 52-week low of Rs 373.30 on 11 February 2016.

The large-cap private sector bank has equity capital of Rs 478.31 crore. Face value per share is Rs 2.

Axis Banks gross non-performing assets (NPA) stood at Rs 20466.82 crore as on 31 December 2016 as against Rs 16378.65 crore as on 30 September 2016 and Rs 5724.05 crore as on 31 December 2015.

The banks ratio of gross NPAs to gross advances stood at 5.22% as on 31 December 2016, as against 4.17% as on 30 September 2016 and 1.68% as on 31 December 2015.

The banks ratio of net NPAs to net advances stood at 2.18% as on 31 December 2016, compared with 2.02% as on 30 September 2016 and 0.75% as on 31 December 2015.

Axis Banks provisions and contingencies jumped 432.67% to Rs 3795.80 crore in Q3 December 2016 over Q3 December 2015.

On 13 January 2017, Axis Bank announced reduction in its lending rates based on marginal cost of funds based lending rate by 65 to 70 basis points across various tenors with effect from 18 January 2017.

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

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Yes Bank logs slim gains in choppy trade after good Q3 result
Jan 19,2017

The result was announced during market hours today, 19 January 2017.

Meanwhile, the S&P BSE Sensex was up 48.34 points or 0.18% at 27,305.98

On the BSE, 3.91 lakh shares were traded on the counter so far as against the average daily volumes of 2.26 lakh shares in the past one quarter. The stock turned volatile after declaring results. The stock had hit a high of Rs 1,356.45 and a low of Rs 1,332.10 so far during the day.

The stock had hit a record high of Rs 1,450 on 7 September 2016 and a 52-week low of Rs 632.25 on 20 January 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 17.28% compared with the 3.61% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 2.87% as against Sensexs 3.10% decline.

The large-cap private sector bank has equity capital of Rs 423.16 crore. Face value per share is Rs 10.

The banks gross non-performing assets (NPA) edged higher to Rs 1005.85 crore as on 31 December 2016 from Rs 916.68 crore as on 30 September 2016 and Rs 558.57 crore as on 31 December 2015.

The banks ratio of gross NPAs to gross advances rose to 0.85% as on 31 December 2016, from 0.83% as on 30 September 2016 and 0.66% as on 31 December 2015.

The banks ratio of net non-performing assets (NPAs) to net advances stood at 0.29% as on 31 December 2016, compared with 0.29% as on 30 September 2016 and 0.22% as on 31 December 2015.

Provisions and contingencies dropped 22.01% to Rs 115.38 crore in Q3 December 2016 over Q3 December 2015. The provisioning coverage ratio as on 31 December 2016 stood at 66%.

Current and Savings Account (CASA) ratio improved to 33.3% as at 31 December 2016 from 26.6% as at 31 December 2015.

Net Interest Income (NII) increased by 30.3% to Rs 1507.50 crore in Q3 December 2016 over Q3 December 2015, on account of growth in advances & CASA and expansion in net interest margin (NIM). NIM expanded to 3.5% in Q3 December 2016 from 3.4% in Q3 December 2015.

Non Interest Income increased by 33.8% to Rs 998.30 crore in Q3 December 2016 over Q3 December 2015.

The banks Capital Adequacy Ratio (CAR) as per Basel III norms stood at 15.6% as on 31 December 2016, compared with 14.1% as on 30 September 2016 and 14.9% as on 31 December 2015.

Commenting on the results and financial performance, Rana Kapoor, Managing Director & CEO, Yes Bank said that the bank has delivered another quarter of satisfactory performance across key financial parameters of growth and profitability, while maintaining healthy asset quality.

Yes Bank is Indias fifth largest private sector bank. The banks branch network stands at 964 branches as on 31 December 2016. Total ATM network stood at 1,757 as on 31 December 2016.

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Yes Bank gains in volatile trade after good Q3 result
Jan 19,2017

The result was announced during market hours today, 19 January 2017.

Meanwhile, the S&P BSE Sensex was up 55.29 points or 0.2% at 27,312.93

On the BSE, 2.89 lakh shares were traded on the counter so far as against the average daily volumes of 2.26 lakh shares in the past one quarter. The stock was volatile. The stock had hit a high of Rs 1,356.45 and a low of Rs 1,332.10 so far during the day.

The stock had hit a record high of Rs 1,450 on 7 September 2016 and a 52-week low of Rs 632.25 on 20 January 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 17.28% compared with the 3.61% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 2.87% as against Sensexs 3.10% decline.

The large-cap private sector bank has equity capital of Rs 423.16 crore. Face value per share is Rs 10.

Yes Bank is one of the leading private sector banks in India.

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United Spirits slips on profit booking
Jan 19,2017

Meanwhile, the BSE Sensex was up up 32.02 points, or 0.12%, to 27,289.66.

On the BSE, so far 1.03 lakh shares were traded in the counter, compared with average daily volumes of 31,081 shares in the past one quarter. The stock had hit a high of Rs 2,147.45 and a low of Rs 2,045.90 so far during the day.

The stock hit a 52-week high of Rs 2,864.75 on 25 January 2016. The stock hit a 52-week low of Rs 1,775.05 on 22 November 2016.

The large-cap company has equity capital of Rs 145.33 crore. Face value per share is Rs 10.

Shares of United Spirits rose 10.40% in the four trading sessions to settle at Rs 2109.60 yesterday, 18 January 2017, from its close of Rs 1910.75 on 12 January 2017.

Shares of United Spirits rose 1.43% to Rs 2,109.60 yesterday, 18 January 2017, after media reported that Diageo Plc is considering increasing its majority stake in Indian whiskey producer United Spirits. Diageo is reportedly planning an open offer to the other shareholders in United Spirits.

Relay B.V., an indirect wholly-owned subsidiary of Diageo Plc, holds 54.78% stake in United Spirits (as per the shareholding pattern as on 31 December 2016). Under Indian stock market regulations, Diageo could raise its stake to just under 75% without triggering a delisting offer.

Diageo gained complete control of the board of United Spirits post the exit of Dr Vijay Mallya from his position as chairman and non-executive director of United Spirits in February 2016.

Net profit of United Spirits rose 15.9% to Rs 82.54 crore on 7.7% rise in net sales to Rs 2037.70 crore in Q2 September 2016 over Q2 September 2015.

United Spirits makes alcoholic beverages. It is a subsidiary of British multinational Diageo plc.

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Idea Cellular gains after bulk deal
Jan 19,2017

Meanwhile, the S&P BSE Sensex was up 53.10 points or 0.19% at 27,310.74

Bulk deal boosted volume on the scrip. On BSE, so far 24.85 lakh shares were traded in the counter as against average daily volume of 6.67 lakh shares in the past one quarter. The stock hit a high of Rs 69.80 and a low of Rs 66.70 so far during the day.

The stock had hit a 52-week high of Rs 128.05 on 28 April 2016. The stock had hit a 52-week low of Rs 66 on 9 November 2016. The stock had underperformed the market over the past 30 days till 18 January 2017, sliding 7.85% compared with the 3.61% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 13.79% as against Sensexs 3.10% decline.

The large-cap company has equity capital of Rs 3601.03 crore. Face value per share is Rs 10.

Idea Cellulars consolidated net profit slumped 88% to Rs 91.46 crore on 8.05% rise in total income to Rs 9535.01 crore in Q2 September 2016 over Q2 September 2015.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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SBI gains after government OKs preferential issue of shares
Jan 19,2017

The announcement was made during trading hours today, 19 January 2017.

Meanwhile, the BSE Sensex was up 51.48 points, or 0.19%, to 27,309.12.

On the BSE, so far 7.28 lakh shares were traded in the counter, compared with average daily volumes of 18.44 lakh shares in the past one quarter. The stock had hit a high of Rs 261.80 and a low of Rs 256.65 so far during the day.

The stock hit a 52-week high of Rs 288.50 on 11 November 2016. The stock hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had underperformed the market over the past 30 days till 18 January 2017, rising 1.20% compared with the 3.61% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 0.90% as against Sensexs 3.10% decline.

The large-cap bank has equity capital of Rs 776.28 crore. Face value per share is Re 1.

In December 2016, State Bank of India (SBI) announced that its shareholders approved a preferential issue of shares for upto Rs 5681 crore to the Government of India. This is part of the governments capital infusion plan into the lender. Shareholders also gave an in-principle nod to additional fund raising by way of a public issue, should the bank need to tap the markets.

Separately, shareholders also approved fund raising upto a limit of Rs 15000 crore via a public issue. This fund raising could be in the form of a follow-on public offer (FPO) or private placement through a qualified institutional placement (QIP) or through other means such as American Depository Receipts (ADRs) or Global Depository Receipts (GDRs). Any such public fund raising would be subject to the condition that the governments shareholding in SBI does not fall below 52%. The announcement was made after market hours on 20 December 2016.

SBIs net profit fell 34.6% to Rs 2538.32 crore on 8.3% growth in operating income to Rs 50742.99 crore in Q2 September 2016 over Q2 September 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 31 December 2016).

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Volumes jump at Power Grid Corporation of India counter
Jan 19,2017

Power Grid Corporation of India clocked volume of 15.79 lakh shares by 12:50 IST on BSE, a 6.75-times surge over two-week average daily volume of 2.34 lakh shares. The stock rose 0.05% to Rs 198.55.

Idea Cellular notched up volume of 24.08 lakh shares, a 4.5-fold surge over two-week average daily volume of 5.35 lakh shares. The stock rose 2.52% to Rs 69.20.

Torrent Power saw volume of 2.71 lakh shares, a 3.4-fold surge over two-week average daily volume of 80,000 shares. The stock rose 4.03% to Rs 193.70.

Welspun India clocked volume of 7.10 lakh shares, a 2.76-fold surge over two-week average daily volume of 2.57 lakh shares. The stock rose 3.14% to Rs 78.75.

Jubilant FoodWorks saw volume of 97,000 shares, a 2.60-fold rise over two-week average daily volume of 37,000 shares. The stock shed 0.1% to Rs 881.80.

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Shipping Corporation of India leads gainers on BSEs A group
Jan 19,2017

Shipping Corporation of India rose 5.65% at Rs 69.15. The stock topped the gainers in A group. On the BSE, 2.99 lakh shares were traded on the counter so far as against the average daily volumes of 1.45 lakh shares in the past two weeks.

Great Eastern Shipping Company rose 4.73% at Rs 403. The stock was the second biggest gainer in A group. On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 5,671 shares in the past two weeks.

Gail (India) rose 4.62% at Rs 459.65. The stock was the third biggest gainer in A group. On the BSE, 6.12 lakh shares were traded on the counter so far as against the average daily volumes of 2.65 lakh shares in the past two weeks.

Hindustan Copper rose 4.84% at Rs 68.25. The stock was the fourth biggest gainer in A group. On the BSE, 5.35 lakh shares were traded on the counter so far as against the average daily volumes of 7.43 lakh shares in the past two weeks.

Torrent Power rose 4.70% at Rs 194.95. The stock was the fifth biggest gainer in A group. On the BSE, 2.61 lakh shares were traded on the counter so far as against the average daily volumes of 80,000 shares in the past two weeks.

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Diamond Power hits the roof on plan to convert debt into equity
Jan 19,2017

The announcement was made during trading hours today, 19 January 2017.

Meanwhile, the BSE Sensex was up 74.79 points, or 0.27%, to 27,332.43.

On the BSE, so far 3.86 lakh shares were traded in the counter, compared with average daily volumes of 2.15 lakh shares in the past one quarter. The stock had hit a high of Rs 37.25 and a low of Rs 35.70 so far during the day.

The stock hit a 52-week high of Rs 63.15 on 20 October 2016. The stock hit a 52-week low of Rs 22.05 on 29 March 2016.

The small-cap company has equity capital of Rs 69.03 crore. Face value per share is Rs 10.

Diamond Power Infrastructure had approached its lenders in March 2016 for a comprehensive restructuring plan which envisaged conversion of debt into equity and induction of a new investor in the company. After detailed deliberations, the joint lenders forum met yesterday, 18 January 2017 and approved a decision to convert companies debt aggregating to Rs 855 crore into equity shares at Rs 41.28 per share.

This step will bring down the companys debt by Rs 855 crore thereby correcting the capital structure of the company in a major way and reducing the interest burden substantially.

The companys committee of board of director will meet on 24 January 2017 for the allotment of shares to the various tenders in their agreed proportion.

On a consolidated basis, Diamond Power Infrastructure reported net loss of Rs 204.45 crore in Q2 September 2016 as against net loss of Rs 22.02 crore in Q2 September 2015. Net sales declined 31.62% to Rs 338.93 crore in Q2 September 2016 over Q2 September 2015.

Diamond Power Infrastructure is an integrated manufacturer of power transmission equipment and turnkey services provider (EPC).

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KPIT drops on profit booking after declaring good Q3 outcome
Jan 19,2017

Meanwhile, the S&P BSE Sensex was up 75.31 points or 0.28% at 27,332.95

On the BSE, 2.51 lakh shares were traded on the counter so far as against average daily volume of 97,339 shares in the past one quarter. The stock had hit a high of Rs 142.30 and a low of Rs 136 so far during the day.

The stock had hit a 52-week high of Rs 196.60 on 21 June 2016. The stock had hit a 52-week low of Rs 108.45 on 12 February 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 6% compared with the 3.61% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 2.37% as against Sensexs 3.10% decline.

The small-cap company has equity capital of Rs 39.50 crore. Face value per share is Rs 2.

KPIT Technologies consolidated net profit rose 30.97% to Rs 73.58 crore on 2.96% rise in total income to Rs 859.10 crore in Q3 December 2016 over Q2 September 2016. The Q3 December 2016 bottomline was boosted by an exceptional item of Rs 26.09 crore relating to the gain on sale of companys entire stake in KPIT Medini Technologies AG with effect from 1 November 2016. The result was announced after market hours yesterday, 18 January 2017.

KPIT Technologies said that the proceeds from sale of KPIT Medini Technologies in Germany were used towards a strategic partnership with a German engineering services company, Micro Fuzzy.

Consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) margin contracted 0.82% to 10.18% in Q3 December 2016 from 11% in Q2 September 2016. However, net profit margin expanded 2.1% to 8.86% in Q3 December 2016 from 6.76% in Q2 September 2016

Kishor Patil, KPIT Technologies co-founder CEO and MD said that the company will continue to focus on growth with effective account management and new technology solutions for focus verticals. The cash flow during Q3 December 2016 was encouraging and the company will continue to build further on the same, Kishor Patil said.

KPIT Technologies is a global technology company focused on providing technology solutions and expertise to automotive and transportation companies, government bodies, manufacturing, energy and utilities companies.

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Bodal Chemicals inches up as CARE upgrades rating of bank facilities
Jan 19,2017

The announcement was made after market hours yesterday, 18 January 2017.

Meanwhile, the S&P BSE Sensex was up 73.34 points or 0.27% at 27,330.98.

On the BSE, 48,000 shares were traded on the counter so far as against the average daily volumes of 1.57 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 1.76% at the days high of Rs 136 so far during the day. The stock rose 0.56% at the days low of Rs 134.40 so far during the day.

The stock had hit a record high of Rs 155 on 6 October 2016 and a 52-week low of Rs 44.65 on 20 January 2016. The stock had underperformed the market over the past one month till 18 January 2017, advancing 2.89% compared with the Sensexs 2.9% rise. The scrip had also underperformed the market over the past one quarter declining 4.47% as against the Sensexs 2.83% fall.

The small-cap company has equity capital of Rs 21.82 crore. Face value per share is Rs 2.

Bodal Chemicals announced that rating agency Credit Analysis & Research (CARE) has upgraded the credit rating for the long term bank facilities of the company to CARE A from CARE A-. The outlook is stable. Also, CARE upgraded the ratings for the short term bank facilities of the company to CARE A1 from CARE A2+.

The rating upgrade from CARE is on the basis of recent developments including operational and financial performance of the company for FY 2016 and also provisional performance for the first half of current financial year (FY 2017).

Bodal Chemicals net profit rose 45.6% to Rs 34.05 crore on 30.7% rise in net sales to Rs 327.70 crore in Q2 September 2016 over Q2 September 2015.

Bodal Chemicals is engaged in manufacturing of acid, direct and reactive dyestuffs and dye intermediates for textile, leather, plastics and papermaking applications.

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