TOP CORPORATE NEWS - 16 JUN 2016

 !   Divi's Labs: Limited upside, downgrade to Hold

Strong Q4FY2016 performance: During Q4FY2016, Divis Laboratories Limited (Divis) reported a strong growth of 34% YoY to Rs1093 crore (spill-over effect from Q3FY2016 due to deferred sales). Operating profit grew by 19.5% YoY to Rs398 crore. Profit for the quarter grew by 23% YoY to Rs322 crore.FY2016 guidance achieved: FY2016 consolidated revenues stood at Rs3776 crore, up 21% YoY, while operating profit margin stood at 37.4%.

 !   Mahanagar Gas IPO to open on June 21 

Mahanagar Gas Ltd (MGL), India's second biggest CNG retailer, has fixed the price band of Rs380-421 for its initial public offer ( IPO) to raise around Rs1,040 crore. The company, promoted by GAIL and BG Asia Pacific Holdings Pte Ltd, is making an offer for sale of up to 24,694,500 equity shares of Rs10 each, as per reports.. The IPO will open on June 21 and close on June 23.The IPO is being managed by Kotak Investment Bank and Citigroup.

 !    V-Guard gains on launch of Verano

Shares of V-Guard Industries gained over 3% to Rs1353 on NSE on reports that the company has launched Verano, an intelligent water heater. It can be operated through an app on smartphone and can be controlled via Wi-Fi connection- Positive read thru. The stock opened at Rs1318.85 marking days low at Rs1315 with an intraday high of Rs1379 and is currently trading at Rs1354 up by 3.59% on NSE so far.

Hindustan Unilever: FY2016 Annual Report review

Hindustan Unilever (HUL) registered a mixed operating performance in FY2016, with revenue growing by just 4% YoY (largely hit by price deflation amid subdued demand environment) and operating profit growing by 13% YoY (on the back of weak raw material prices). The underlying volume growth in the domestic consumer business stood at 6% YoY in FY2016, which is broadly in line with 5% YoY volume growth attained in FY2015.Negative working capital; return ratios remain strong: HUL’s operating cash cycle continues to remain negative and stood at a negative 13 days in FY2016. The return ratios continue to be robust, with Return on Equity (RoE) and Return on Capital Employed (RoCE) at ~104% and 143.6%, respectively (as against 102.8% and 147.1%, respectively in FY2015).

 !   Tata Sponge bids for 24000 tonnes coal from Coal India

Tata Sponge Iron has successfully bid for 24000 tonnes per annum of Grade G 4 coal from Coal India Limited, in a recently held auction of coal linkages for the sponge iron industry. This tonnage constitutes less than 10% of the Company's annual coal requirement. This intimation is based on the information available on the website of MSTC E-Commerce.

                                            

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