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Friday, 22 July 2016

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TOP CORPORATE NEWS - 22 JULY 2016

                       Bank Nifty Futures, equity tips, Free stock calls, Indian Stock market, share market tips, stock market live,
Federal Bank reports good Q1 Quarter; Asset Quality Stable
Federal Bank has announced the following Q1 Unaudited Standalone results for the quarter ended June 30, 2016 (YoY)
Net Profit rose by 18.33% to Rs167.31 crore Vs Rs141.39 (YoY).
Total Income increased by 6.82% to Rs2250.81 crore Vs Rs2107.09 crore (YoY).
Gross NPA at 2.92% Vs 2.84% (QoQ)
Gross NPA +4.8% at Rs1, 747 crore Vs Rs1, 668 crore (QoQ)
Net NPA +4.7% at Rs994.5 crore Vs Rs950 crore (QoQ)
NII +14.4% at Rs692.7 crore Vs Rs605.2 crore (YoY)
Provisions at Rs168.5 crore Vs Rs388.6 crore (QoQ); Vs Rs153.1 crore (YoY)

Power Grid after board approves investment proposals
Power Grid Corporation of India Ltd (PGCIL) gained over 3%, touching to Rs168.35, after the company's board of directors in a meeting held on July 20, 2016 accorded approval for eleven investment proposals aggregating Rs2734.94 crore.

Kotak Mahindra Bank to raise Rs5,000 cr via bonds
Private sector lender Kotak Mahindra Bank said that it will raise up to Rs5, 000 crore by issuing bonds.
The board of directors of the company at its meeting held on July 21 has approved the business for seeking consent of the shareholders.
For issuance of unsecured, redeemable, non-convertible debentures/bonds up to Rs5, 000 crore.Cons Net Profit at Rs.1, 067 Cr Vs Rs.516.6 Cr (YoY).

Biocon spurts on better than expected Q1FY2017 results
Shares of Biocon spurted over 17% to Rs825 on NSE in an otherwise subdued markets on back of better than expected Q1FY2017 results.
As per IndAS, Revenue reported a healthy growth of 21% at Rs 981 Cr led by all- round growth of all business verticals viz. Small Molecules, Biologics, Branded Formulations and Syngene (Contract Research Services). Profit grew by 33.4% to Rs 165.3 crores.
Gross R&D spends at Rs 92 Cr in Q1 FY17 reflect   the advancement of  Biosimilars, Generic Formulations and Novel programs. At a Net level, R&D spends were Rs 52 Cr.

Bharat Financial Q1 net profit at Rs236 crore
Bharat Financial Inclusion Ltd has announced the following Unaudited Standalone results for the quarter ended June 30, 2016:
Net Profit at Rs235.92 crore Vs Rs61.16 crore (YoY).
Total Income increased to Rs414.12 crore Vs Rs282.64 crore (YoY).
EBITDA 66.3% at Rs232.2 crore Vs Rs139.6 crore (YoY)
EBITDA Margin at 62.9% Vs 57.9% (YoY)
Tax Credit at Rs96.9 crore Vs Tax Expense of Rs18.3 crore (YoY)

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