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Pricol jumps after strong Q1 outcome
Aug 04,2016

The result was announced after market hours yesterday, 3 August 2016.

Meanwhile, the BSE Sensex was up 75.26 points, or 0.27%, to 27,772.77

On BSE, so far 7.48 lakh shares were traded in the counter, compared with average daily volume of 4.33 lakh shares in the past one quarter. The stock hit a high of Rs 118.85 and a low of Rs 113.95 so far during the day. The stock hit a record high of Rs 122.65 on 26 July 2016. The stock hit a 52-week low of Rs 28.55 on 8 September 2015. The stock had outperformed the market over the past one month till 3 August 2016, gaining 30.93% compared with 2.04% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 105.3% as against Sensexs 9.78% rise.

The small-cap company has an equity capital of Rs 9.48 crore. Face value per share is Re 1.

Vikram Mohan, Managing Director, Pricol said that the Q1 June 2016 results were better than expected, primarily due to sustained efforts to reduce costs, gain in market share and increased productivity.

Pricol manufactures automotive components for the global automotive market. It caters to two, three, four wheelers, commercial vehicles, tractors and construction and industrial tooling segments across the global market.

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Auto stocks in demand
Aug 04,2016

Tata Motors (up 3.78%), Bajaj Auto (up 1.96%), Hero MotoCorp (up 1.82%), Ashok Leyland (up 1.22%), Maruti Suzuki (India) (up 0.95%), TVS Motor Company (up 0.74%) and Escorts (up 0.66%), edged higher. Eicher Motors (down 0.24%) and Mahindra & Mahindra (down 0.54%), edged lower.

The S&P BSE Auto index was up 1.52% at 21,043.34. It outperformed the S&P BSE Sensex, which was up 0.28% at Rs 27,773.70.

The S&P BSE Auto index had outperformed the market over the past one month till 3 August 2016, rising 4.78% compared with 2.04% rise in the Sensex. The index had also outperformed the market in past one quarter, rising 12.43% as against Sensexs 9.78% rise.

The Rajya Sabha yesterday, 3 August 2016, passed the Goods and Services Tax (GST) Constitutional Amendment Bill, which the Lok Sabha had already approved last year. The exact rate of the tax will only be decided in the weeks or months ahead. GST is a uniform indirect tax levied on goods and services across a country. The measure would harmonize 11 state and central levies into a national sales tax, reducing business transaction costs. The passage of the constitutional amendment bill kicks off a legislative marathon in which both the Union and State parliaments will need to pass further laws setting the rate and scope of the GST.

According to reports, unified tax system could lower tax administration costs. On-road price of vehicles could drop by 8%. Lower prices can be construed as indirect stimulus to boost auto sales volumes.

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Auto stocks in demand after passage of GST bill in Rajya Sabha
Aug 04,2016

Tata Motors (up 3.78%), Bajaj Auto (up 1.96%), Hero MotoCorp (up 1.82%), Ashok Leyland (up 1.22%), Maruti Suzuki (India) (up 0.95%), TVS Motor Company (up 0.74%) and Escorts (up 0.66%), edged higher. Eicher Motors (down 0.24%) and Mahindra & Mahindra (down 0.54%), edged lower.

The S&P BSE Auto index was up 1.52% at 21,043.34. It outperformed the S&P BSE Sensex, which was up 0.28% at Rs 27,773.70.

The S&P BSE Auto index had outperformed the market over the past one month till 3 August 2016, rising 4.78% compared with 2.04% rise in the Sensex. The index had also outperformed the market in past one quarter, rising 12.43% as against Sensexs 9.78% rise.

According to reports, on-road price of vehicles could drop by 8% once a nationwide Goods and Services Tax (GST) kicks off. Lower prices can be construed as indirect stimulus to boost auto sales volumes. The Rajya Sabha yesterday, 3 August 2016, passed the Goods and Services Tax (GST) constitutional amendment bill that will help usher in a nationwide goods and services tax. Since the government made amendments to the GST constitutional amendment bill originally passed by the Lok Sabha, the bill will again go to Lok Sabha for its ratification. GST is a uniform indirect tax levied on goods and services across a country. The measure would harmonize 11 state and central levies into a national sales tax, reducing business transaction costs. The passage of the constitutional amendment bill kicks off a legislative marathon in which both the Union and State parliaments will need to pass further laws setting the rate and scope of the GST. The standard GST rate, which will apply to most goods and services under the GST regime, will be worked out by the GST Council, comprising representatives of the states and the Centre that will set up in due course.

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Siemens advances after new order win
Aug 04,2016

The announcement was made after market hours yesterday, 3 August 2016.

Meanwhile, the BSE Sensex was up 73.24 points, or 0.26%, to 27,770.75

On BSE, so far 14,412 shares were traded in the counter, compared with an average volume of 26,086 shares in the past one quarter. The stock hit a high of Rs 1,270 and a low of Rs 1,236.90 so far during the day. The stock hit a 52-week low of Rs 969 on 29 January 2016. The stock hit a record high of Rs 1,558 on 6 August 2015. The stock had underperformed the market over the past one month till 3 August 2016, sliding 4.28% compared with 2.04% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 8.41% as against Sensexs 9.78% rise.

The large-cap company has an equity capital of Rs 71.22 crore. Face value per share is Rs 2.

The latest order is for supply of 400 kilovolt (kV)/230 kV switch yard equipments, reactors, power transformers, fire fighting systems, air-conditioning systems, auxiliary power system, building management systems, illumination systems, AC control and protections, engineering for civil and plant for 500 megawatts (MW) high voltage direct current (HVDC) station. The project is a part of India Bangladesh agreement for power exchange as per South Asia Sub Regional Economic Co-operation (SASEC) by Asian Development Bank (ADB), Siemens said.

Siemens net profit rose 9.6% to Rs 177.42 crore on 4.5% increase in total income to Rs 2810.59 crore in Q2 March 2016 over Q2 March 2015.

Siemens focuses on the areas of electrification, automation and digitalization. Parent Siemens AG, Germany currently owns 75% stake in Siemens (as per the shareholding pattern as on 30 June 2016).

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Dr Reddys Labs gains after completing acquisition of product portfolio from Teva
Aug 04,2016

The announcement was made after market hours yesterday, 3 August 2016.

Meanwhile, the S&P BSE Sensex was up 92.54 points, or 0.33%, to 27,790.05

On BSE, so far 20,965 shares were traded in the counter, compared with average daily volume of 42,986 shares in the past one quarter. The stock hit a high of Rs 2,980 and a low of Rs 2,934 so far during the day. The stock hit a record high of Rs 4,382.95 on 20 October 2015. The stock hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past one month till 3 August 2016, sliding 15.39% compared with 2.04% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.89% as against the Sensexs 9.78% rise.

The large-cap company has an equity capital of Rs 85.35 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) announced that it has successfully completed the previously announced acquisition of eight Abbreviated New Drug Applications (ANDAs) in the US from Teva Pharmaceutical Industries (TEVA) and an affiliate of Allergan plc. The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergans generics business. The portfolio being acquired is a mix of six ANDAs pending approval, one approved ANDA and one ANDA with tentative approval and comprises complex generic products across diverse dosage forms. The branded versions of these 8 products clocked sales of approximately $3.5 billion in the US for twelve months ended June 2016, according to IMS Health data.

Dr Reddys Laboratories consolidated net profit fell 76.3% to Rs 153.50 crore on 14.1% decline in total income to Rs 3289.50 crore in Q1 June 2016 over Q1 June 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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Dr Reddys Lab gains after completing acquisition of product portfolio from Teva
Aug 04,2016

The announcement was made after market hours yesterday, 3 August 2016.

Meanwhile, the S&P BSE Sensex was up 92.54 points, or 0.33%, to 27,790.05

On BSE, so far 20,965 shares were traded in the counter, compared with average daily volume of 42,986 shares in the past one quarter. The stock hit a high of Rs 2,980 and a low of Rs 2,934 so far during the day. The stock hit a record high of Rs 4,382.95 on 20 October 2015. The stock hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past one month till 3 August 2016, sliding 15.39% compared with 2.04% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.89% as against the Sensexs 9.78% rise.

The large-cap company has an equity capital of Rs 85.35 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) announced that it has successfully completed the previously announced acquisition of eight Abbreviated New Drug Applications (ANDAs) in the US from Teva Pharmaceutical Industries (TEVA) and an affiliate of Allergan plc. The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergans generics business. The portfolio being acquired is a mix of six ANDAs pending approval, one approved ANDA and one ANDA with tentative approval and comprises complex generic products across diverse dosage forms. The branded versions of these 8 products clocked sales of approximately $3.5 billion in the US for twelve months ended June 2016, according to IMS Health data.

Dr Reddys Laboratories consolidated net profit fell 76.3% to Rs 153.50 crore on 14.1% decline in total income to Rs 3289.50 crore in Q1 June 2016 over Q1 June 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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Natco Pharma gains after receiving final approval for Tamiflu generic
Aug 04,2016

The announcement was made before trading hours today, 4 August 2016.

Meanwhile, the S&P BSE Sensex was up 74.28 points, or 0.27%, to 27,771.79.

On BSE, so far 96,000 shares were traded in the counter, compared with an average daily volume of 64,307 shares in the past one quarter. The stock hit a high of Rs 650.90 so far during the day, which is a record high for the counter. The stock hit a low of Rs 626.05 so far during the day. The stock hit a 52-week low of Rs 382.20 on 24 August 2015. The stock had outperformed the market over the past one month till 3 August 2016, rising 6.67% compared with 2.04% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 30.31% as against Sensexs 9.78% rise.

The large-cap company has an equity capital of Rs 34.83 crore. Face value per share is Rs 2.

Natco Pharma has received final approval for abbreviated new drug application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (USFDA) for generic versions of Tamiflu oral capsules, 30 mg, 45 mg and 75 mg. Natco and its marketing partner Alvogen are the first generic players to receive this approval. Tamiflu is Roches trade name for oseltamivir phosphate.

Earlier in December 2015, Natco and Alvogen settled a patent infringement with Gilead Sciences Inc., Hoffmann-La Roche Inc., F. Hoffmann-La Roche and Genentech Inc. Under the terms of the settlement, Natcos partner Alvogen will be able to market the oseltamivir phosphate capsules before the expiration of the pediatric exclusivity period for the drug, which is 23 February 2017.

Tamiflu oral capsules had US sales of approximately $403 million for twelve months ended December 2015, according to IMS Health data.

Natco Pharmas consolidated net profit rose 10.7% to Rs 60.24 crore on 103% growth in net sales to Rs 386.77 crore in Q4 March 2016 over Q4 March 2015. The company is scheduled to announce Q1 June 2016 results on 9 August 2016.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Cadila Healthcare jumps on bargain hunting
Aug 04,2016

Meanwhile, the S&P BSE Sensex was up 51.37 points, or 0.19%, to 27,748.88.

On BSE, so far 2 lakh shares were traded in the counter, compared with an average daily volume of 91,886 shares in the past one quarter. The stock hit a high of Rs 366.80 and a low of Rs 349.80 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past one month till 3 August 2016, rising 5.71% compared with 2.04% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.12% as against Sensexs 9.78% rise.

The large-cap company has an equity capital of Rs 102.37 crore. Face value per share is Re 1.

Shares of Cadila Healthcare witnessed selling ahead of Q1 results. The stock fell 5.20% to settle at Rs 347 yesterday, 3 August 2016, from its close of Rs 366.05 on 29 July 2016.

On a consolidated basis, Cadila Healthcares net profit fell 22.60% to Rs 356.20 crore on 4.33% decline in total income to Rs 2302.40 crore in Q1 June 2016 over Q1 June 2015.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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Cadila Healthcare shrugs off weak Q1 results
Aug 04,2016

Meanwhile, the S&P BSE Sensex was up 51.37 points, or 0.19%, to 27,748.88.

On BSE, so far 2 lakh shares were traded in the counter, compared with an average daily volume of 91,886 shares in the past one quarter. The stock hit a high of Rs 366.80 and a low of Rs 349.80 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past one month till 3 August 2016, rising 5.71% compared with 2.04% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.12% as against Sensexs 9.78% rise.

The large-cap company has an equity capital of Rs 102.37 crore. Face value per share is Re 1.

Shares of Cadila Healthcare dropped ahead of Q1 results. The stock fell 5.2% in three trading sessions to settle at Rs 347 yesterday, 3 August 2016, from its close of Rs 366.05 on 29 July 2016.

The decline in topline and bottom line in Q1 June 2016 was partly due to base effect. The companys top line in Q1 June 2015 was boosted by consideration of Rs 66.70 crore received by its wholly owned subsidiary Zydus Pharmaceuticals (USA) Inc. on sale and transfer of ownership interest in certain Abbreviated New Drug Applications for generic drug products.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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Punj Lloyd jumps after selling entire stake in Simon Carves Engineering
Aug 04,2016

The announcement was made after market hours yesterday, 3 August 2016.

Meanwhile, the S&P BSE Sensex was up 52.10 points, or 0.19%, to 27,749.61.

On BSE, so far 3.22 lakh shares were traded in the counter, compared with an average daily volume of 2.94 lakh shares in the past one quarter. The stock hit a high of Rs 21.20 and a low of Rs 20.55 so far during the day. The stock hit a 52-week high of Rs 35.80 on 6 August 2015. The stock hit a record low of Rs 17.65 on 7 June 2016. The stock had underperformed the market over the past one month till 3 August 2016, sliding 7.51% compared with 2.04% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 14.16% as against Sensexs 9.78% rise.

The small-cap company has an equity capital of Rs 66.42 crore. Face value per share is Rs 2.

Punj Lloyd announced that its subsidiary Pt Engineering has sold its entire shareholding in its wholly-owned subsidiary registered in United Kingdom viz. Simon Carves Engineering to Engineers and Constructors International, Inc, for a cash consideration of $2 million. Simon Carves Engineering contributed 1.73% of the total income of Punj Lloyd during the last financial year.

Engineers and Constructors International, Inc is a design and engineering company belonging to the Mitsui Group based out of Baton Rouge, Louisiana, US.

Punj Lloyd posted net loss of Rs 467.99 crore in Q4 March 2016, compared to net profit of Rs 268.53 crore for Q4 March 2015. The companys net sales decreased 44.9% to Rs 688.13 crore in Q4 March 2016 over Q4 March 2015. The company will announce Q1 results on 10 August 2016.

Punj Lloyd provides integrated design, engineering, procurement, construction and project management services in the energy and infrastructure sectors.

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Bata India slips after weak Q1 outcome
Aug 04,2016

The result was announced after market hours yesterday, 3 August 2016.

Meanwhile, the S&P BSE Sensex was down 49.22 points, or 0.18%, to 27,648.29.

On BSE, so far 59,000 shares were traded in the counter, compared with an average daily volume of 45,379 shares in the past one quarter. The stock hit a high of Rs 561.45 and a low of Rs 520.55 so far during the day. The stock hit a 52-week high of Rs 622.05 on 5 August 2015. The stock hit a 52-week low of Rs 438.05 on 21 January 2016. The stock had underperformed the market over the past one month till 3 August 2016, rising 0.75% compared with 2.04% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.88% as against Sensexs 9.78% rise.

The mid-cap company has equity capital of Rs 64.26 crore. Face value per share is Rs 5.

The Q1 June 2016 result was weak partly due to base effect. The companys bottom line in Q1 June 2015 was boosted by income from property development. The company said in a Q1 results press release that its profit before tax and exceptional items rose 7% to Rs 76.24 crore in Q1 June 2016 over Q1 June 2015. The company completed development of its surplus property in June 2015 and it is now focussed on footwear business. Bata India is a retailer and leading manufacturer of footwear in India. The company sells footwear under the Bata brand.

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NBCC (India) gains after winning new orders in July
Aug 04,2016

The announcement was made after market hours yesterday, 3 August 2016.

Meanwhile, the S&P BSE Sensex was up 84.26 points, or 0.30%, to 27,781.77.

On BSE, so far 36,000 shares were traded in the counter, compared with an average daily volume of 1.97 lakh shares in the past one quarter. The stock hit a high of Rs 248 and a low of Rs 243 so far during the day. The stock hit a record high of Rs 267 on 13 July 2016. The stock hit a 52-week low of Rs 162 on 12 February 2016. The stock had outperformed the market over the past one month till 3 August 2016, rising 23.93% compared with 2.04% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.70% as against Sensexs 9.78% rise.

The large-cap company has an equity capital of Rs 120 crore. Face value per share is Rs 2.

On a consolidated basis, net profit of NBCC (India) rose 5.9% to Rs 141.48 crore on 38.8% rise in net sales to Rs 2251.14 crore in Q4 March 2016 over Q4 March 2015.

NBCC is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 June 2016).

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Titan Company drops in volatile trade after declaring poor Q1 result
Aug 03,2016

The result was announced during market hours today, 3 August 2016.

Meanwhile, the S&P BSE Sensex was down 177.46 points, or 0.63%, to 27,804.25

On BSE, so far 3 lakh shares were traded in the counter, compared with average daily volume of 1.03 lakh shares in the past one quarter. The stock saw high intraday volatility after the company declared its Q1 result. The stock rose as much as 0.83% at the days high of Rs 426.85 so far during the day. The stock fell as much as 6.44% at the days low of Rs 396 so far during the day. The stock hit a 52-week high of Rs 434.95 on 15 July 2016. The stock hit a 52-week low of Rs 303 on 29 February 2016. The stock had outperformed the market over the past one month till 2 August 2016, rising 4.43% compared with 3.08% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.48% as against Sensexs 10% rise.

The large-cap company has an equity capital of Rs 88.78 crore. Face value per share is Re 1.

Titan Company said the Q1 June 2016 net profit was weighed by an exceptional item pertaining to expenditure of Rs 96.88 crore due to voluntary retirement scheme announced during the quarter. The companys profit before tax before extraordinary items rose 32.4% to Rs 270.64 crore in Q1 June 2016 over Q1 June 2015.

Titan Company said that the income from watches business rose 1.4% to Rs 491.72 crore in Q1 June 2016 over Q1 June 2015. The jewellery income rose 3.2% to Rs 2138.32 crore in Q1 June 2016 over Q1 June 2015. The companys eyewear business rose 2.7% to Rs 109.87 crore in Q1 June 2016 over Q1 June 2015. Other businesses of the company including precision engineering business rose 36.2% to Rs 63.92 crore in Q1 June 2016 over Q1 June 2015.

Titan Company said that the company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters. Retail expansion continued with a net addition of 11 stores across all its businesses in the Q1 June 2016, ending the period with a retail area of over 1.73 mn sq.ft nationally. The companys retail chain is 1293 stores strong, as on 30 June 2016 and is expanding with growth plans in place for all its retail businesses - watches, jewellery and eyewear, Titan Company said.

Bhaskar Bhat, Managing Director, Titan Company said that Q1 June 2016 has been good for the company from a bottom line perspective, the final number though, has been impacted adversely by an exceptional item, the benefits of which will accrue over the coming years. The wedding season in Q1 June 2016 was poor which impacted sales growth in both watches and jewellery, Bhaskar Bhat said. All the companys brands are working on plans to stimulate demand in the coming quarter, he added.

Titan Company is into eyewear, watches and jewellery making business.

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Titan Company drops in volatile trade after announcing Q1 results
Aug 03,2016

On BSE, so far 3 lakh shares were traded in the counter, compared with average daily volume of 1.03 lakh shares in the past one quarter. The stock saw high intraday volatility after the companys Q1 results hit the market in late trade. The stock rose as much as 0.83% at the days high of Rs 426.85 so far during the day. The stock fell as much as 6.44% at the days low of Rs 396 so far during the day. The stock hit a 52-week high of Rs 434.95 on 15 July 2016. The stock hit a 52-week low of Rs 303 on 29 February 2016. The stock had outperformed the market over the past one month till 2 August 2016, rising 4.43% compared with 3.08% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.48% as against Sensexs 10% rise.

The large-cap company has an equity capital of Rs 88.78 crore. Face value per share is Re 1.

Titan Companys bottom line in Q1 June 2016 was adversely impacted by a one-time exceptional expenditure of Rs 96.88 crore pertaining to voluntary retirement scheme for its employees announced during the quarter. The companys PBT (profit before tax) before extraordinary items rose 32.4% to Rs 270.64 crore in Q1 June 2016 over Q1 June 2015.

Titan Company said that the income from watches business rose 1.4% to Rs 491.72 crore in Q1 June 2016 over Q1 June 2015. Revenue from jewellery business rose 3.2% to Rs 2138.32 crore in Q1 June 2016 over Q1 June 2015. Revenue from the eyewear business rose 2.7% to Rs 109.87 crore in Q1 June 2016 over Q1 June 2015. Revenue from other businesses, including precision engineering business rose 36.2% to Rs 63.92 crore in Q1 June 2016 over Q1 June 2015.

Titan Company said that the company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters. The company further said in its Q1 June 2016 results press release that the expansion of retail stores continued with a net addition of 11 stores across all its businesses in Q1 June 2016.

Commenting on the first quarter results, Bhaskar Bhat, Managing Director, Titan Company said that the Q1 June 2016 results have been good for the company from a bottom line perspective. The final number though, has been impacted adversely by an exceptional item, the benefits of which will accrue over the coming years, Bhat said. The wedding season in Q1 June 2016 was poor which impacted sales growth in both watches and jewellery, Bhat said.

Titan Companys main business lines are watches, jewellery and eyewear.

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Bharat Financial Inclusion slides over 12% in two sessions
Aug 03,2016

The company made the announcement after market hours on Monday, 1 August 2016. The stock slumped 9.73% to Rs 822.20 yesterday, 2 August 2016. The stock has fallen 12.37% in two session from its close of Rs 910.80 on 1 August 2016.

Meanwhile, the S&P BSE Sensex was down 168.80 points, or 0.60%, to 27,812.91.

On BSE, so far 6.32 lakh shares were traded in the counter, compared with an average daily volume of 2.19 lakh shares in the past one quarter. The stock hit a high of Rs 849.75 and a low of Rs 778.15 so far during the day. The stock hit a 52-week high of Rs 938.75 on 29 July 2016. The stock hit a 52-week low of Rs 369.45 on 18 September 2015. The stock had outperformed the market over the past one month till 2 August 2016, rising 11.89% compared with 3.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.40% as against Sensexs 10% rise.

The large-cap company has an equity capital of Rs 127.59 crore. Face value per share is Rs 10.

Bharat Financial Inclusion, formerly known as SKS Microfinance, announced that its President S Dilli Raj was arrested by the Enforcement Directorate (ED) in connection to a complaint filed by IDBI Bank against First Leasing Company of India. S Dilli Raj previously worked in First Leasing Company of India.

Bharat Financial Inclusion clarified that the investigation does not in any way relate to the company. Dilli Raj had earlier issued a personal statement on 19 October 2015 stating that he had resigned from First Leasing Company of India on 22 November 2007 and was relieved on 18 January 2008. He had stated that all loans taken during his tenure have been repaid by First Leasing and that the complaint filed by IDBI Bank relates to loans sanctioned during the years 2012 and 2013, which was six years after he ceased to be an employee of First Leasing. Dilli Raj also had clarified that his role was confined to treasury operations and he did not authenticate or sign any financial statements of First Leasing.

Bharat Financial Inclusions net profit surged 285.7% to Rs 235.91 crore on 46.5% increase in total income to Rs 414.12 crore in Q1 June 2016 over Q1 June 2015.

Bharat Financial Inclusion formerly SKS Microfinance is among the largest microfinance companies in India.

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