TCS drops as Q4FY2016 margins miss the mark

TCS drops as Q4FY2016 margins miss the mark

Shares of TCS dropped to Rs 2450 on NSE post Q4FY2016 results despite inline revenue performance as margins miss the mark.

Inline revenues, margins missed the mark: after six back to back quarter of revenues miss, TCS has delivered a inline revenues performance with 2.1% qoq growth on CC basis (1.5% on reported basis), volume growth was decent at 3.2%, while realization was down by 1.1% qoq.

Dr Reddys launches ZEMBRACE SymTouch

Dr Reddys Laboratories launches ZEMBRACE SymTouch ( sumatriptan injection) 3 mg, approved by the FDA in January 2016 for the acute treatment of migraine in the US – Positive for Dr Reddy.

CRISIL Q1 consolidated net profit up 40% (YoY)

CRISIL has announced the following Q1 results for the quarter ended March 31, 2016

Unaudited Standalone results for the Quarter ended March 31, 2016:

The Company has posted a net profit of Rs65.64 crore Vs Rs45.61 crore (YoY).

Total Income has increased to Rs267.23 crore Vs Rs227.30 crore (YoY).

TV18 Broadcast Q4 consolidated net profit down 14% (YoY)

TV18 Broadcast has announced the following Q4 results for the quarter & year ended March 31, 2016:

Standalone.For the Quarter ended March 31, 2016 (Unaudited)

The Company has posted a net profit of Rs58.67 crore Vs Rs60.90 crore (YoY).Total Income has increased to Rs203.15 crore Vs Rs183.77 crore (YoY).

HDFC rises after board approves stake sale

Housing Development Finance Corporation (HDFC) surged nearly 3%, touching to Rs1158.5, after the company announced that it has in-principle agreed to sell up to 10% of its stake in insurance arm HDFC Standard Life through offer for sale.

The board of directors of HDFC Standard Life Insurance Company Ltd (HDFC Life), a material non listed subsidiary of the Corporation, at its meeting held on April 18, 2016, approved taking steps to initiate the process for an initial public offer (IPO) by way of offer for sale by the Corporation, up to 10% of the paid-up and issued equity share capital of HDFC Life.

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Adani gains on authorisation for $21.7 billion coal project

LIC Housing Q4 net profit up 18% (YoY)

LIC Housing Finance Ltd has announced the following results for the quarter & year ended March 31, 2016:

Standalone:For the Quarter ended March 31, 2016 (Audited)

Net Profit surged by 18.46% to Rs448.02 crore Vs Rs378.18 crore (YoY).Total Income increased by 14.44% to Rs3273.94 crore Vs Rs2860.59 crore (YoY).

Alkem Labs slumps facing trial by German regulator

Shares of Alkem Labs dropped 5% to Rs1276 on NSE in an otherwise positive market as the company has been accused of fudging trial data by German regulator.

Alkem Laboratories has been accused by Germany`s health regulator of fudging data on clinical trials of an antibiotic and brain disorder drug, becoming the third Indian firm to be scrutinised since 2014 for suspected manipulation of trial data.

Reliance Industries plans to shut down unit of SEZ Refinery

Reliance Industries is planning to shut down one crude distillation unit of SEZ Refinery for routine Maintenance & Inspection activities from May 01, 2016, for about 3 weeks.

Adani gains on authorisation for $21.7 billion coal project

Adani Enterprises has got authorization by traditional land owners for its 21.7 billion dollar coal mine project in Australia.

The stock opened at Rs81.25 marking days low at Rs81.20 with an intraday high of Rs83.80 and is currently trading at Rs82.70 up by 2.54% on NSE so far.

Aditya Birla subsidiary to sell 15% stake in company

Media flash- Aditya Birla’s subsidiary My universe is looking to sell 15% stake in the company for $100 million, leading to a consideration of $670 million.This is sentimentally positive for the Company.

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TOP CORPORATE NEWS-13 APRIL 2016

SBI gains on improvement in IIP, Inflation data

Shares of State Bank of India (SBI) rose over 2% on the Bombay Stock Exchange (BSE) after the IIP numbers have given a positive surprise with a growth of 2% for the month of February 2016.

Retail inflation, measured by the Consumer Price Index (CPI), also eased to a six-month low of 4.83% in March from 5.26% in February, according to data released by the Central Statistics Office (CSO) on Tuesday after market hours.

Reliance Industries, BP, Niko start developing deep sea fields process

Reliance Industries and its partners BP, Niko have started the process of developing deep sea fields by inviting bids.

According to the new policy declared last month natural gas from difficult fields could avail price of $6.61 per unit as against $3.06 in regular gas fields with a condition that there should not be any arbitrations from the company.

The intention to develop deep sea fields signals to the fact that Reliance may withdraw arbitration and difficult fields price for natural gas. 

Bajaj Auto surges as Nepal partner plans to set up Assembly Unit

Shares of Bajaj Auto surged over 5% to Rs2585 on NSE on reports that its distribution partner in Nepal plans to set up Assembly Unit.

As per media sources, Bajaj Auto distribution partner in Nepal will set up an assembly plant to manufacture motorcycles.

The initial capacity would be to produce around 3,500 units per month and around 7000 units per month would be exported from the plant as well.

CPI inflation for March 2016 cools down to 4.83%

CPI inflation for March 2016 cooled down to 4.83% versus 5.26% (revised number for Feb 2016) MoM and against an expectation of 5.0%

CPI inflation in food category declined to 5.2% versus 5.3% MoM Core CPI inflation stood at 4.7% versus 4.9% MoM.

Mahindra & Mahindra on rising trend

Mahindra & Mahindra (M&M) surged over 7% to 1329.9, after India's weather department predicted above normal monsoon this year. After two consecutive droughts, the India Meteorological Department (IMD) on Tuesday said the monsoon this year is expected to be “above normal.

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TOP CORPORATE NEWS- 11 Apr 2016

Tata Motors surges on reporting good global wholesales

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in March 2016 rose 18% to 45,235 units in March 2016 over March 2015. Global wholesales of all passenger vehicles rose 8% to 73,515 units in March 2016 over March 2015. Global wholesales for Jaguar Land Rover were 64,579 vehicles including CJLR wholesales of 6,388 units in March 2016. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR. Jaguar wholesales for the month were 13,370 vehicles while Land Rover wholesales were 51,209 vehicles in March 2016.

JSW Energy is set to acquire 1,000 MW unit of Jindal Power

JSW Energy is set to acquire 1,000 MW unit of Jindal Power in a deal that involves the former taking over debt of Rs4,000 crore along with the asset.

The acquisition will help JSW Energy to expand its capacity which could be well supported by relatively healthy balance sheet.

Ashok Leyland explores new avenues in Defence Segment

Ashok Leyland is eyeing massive expansion of its defence business as it forays into manufacturing of Field Artillery Tractor (FAT) platforms for manufacturing battle guns, 4x4 armoured vehicles and ambulances for the Indian armed forces.

The company has recently bagged an order worth Rs800 crore from the Ministry of Defence to develop 455 units of 6x6 FAT’s, 825 high-tech army ambulances and other super stallions ranging from 6x6, 8x8 to 10x10 heavy military trucks and vehicles under the ‘Make In India’ program.

RIL, BP discuss with government to drop arbitration

RIL and its partner BP Plc. have initiated discussions with the government to drop the arbitration.

Further, RIL- BP JV has also signalled their intention to invest $10 billion over the next few years to recover about 2.5 trillion cubic feet (tcf) of gas from deep sea fields. Sentimentally positive for RIL.

Sun Pharma gets USFDA nod for BromSite

Drug major Sun Pharmaceutical Industries has received approval from the US health regulator for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.

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TOP CORPORATE NEWS- 8 Apr 2016

Reliance Communications to launch 4G on May 4

Leading telecom giant, Reliance Communications has announced that it will advance its estimated 5 million CDMA customers to a 4G network in segments from May 4. With this decision, the telecom giant joins bigger competitors like Bharti Airtel, Vodafone India and Idea Cellular in unveiling high-speed broadband services.

ITC, Starwood extend partnership, add 3 more properties

ITC Ltd and Starwood Hotels and Resorts today extended their existing partnership for 11 ITC Luxury Collection hotels and one hotel under the Sheraton brand.

Strengthening their partnership further, the two partners also announced three upcoming ITC hotels under Starwood's 'The Luxury Collection' brand in India.

The addition of ITC Kohinoor in Hyderabad, ITC Narmada in Ahmedabad and ITC Royal Bengal in Kolkata will take the inventory up to 15 hotels.

Lupin gains on launching first product from GAVIS pipeline

Lupin surged over 2%, touched to Rs1541.55, after the pharma major said that is US-based subsidiary Lupin Pharmaceuticals Inc., has launched the first product from its GAVIS pipeline. The subsidiary has launched Zolpidem Sublingual Tablets, 1.75mg & 3.5mg which has been approved by the USFDA and final clearance from the FTC with 180 days of exclusivity. Zolpidem Sublingual Tablets, 1.75mg and 3.5mg are AB-rated generic equivalent of Purdue Pharma L.P's Intermezzo Sublingual Tablets, 1.75mg and 3.5mg and is dispensed for the treatment of insomnia.

HUL completes acquistion of Indulekha brand oil.

Hindustan Unilever (HUL) announced that it has completed the acquisition of Masons Group flagship hair oil brand Indulekha.It may be recalled that in December 2015, HUL had announced signing an agreement with Masons Group for acquisition of its flagship Indulekha brand.

IOC to invest Rs20,000 cr in Gujarat refinery

The Indian Government has said that PSU major Indian Oil Corporation was going to devote Rs20,000 crore for brownfield expansion of its refinery in Gujarat.

Commenting on the issue, Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan after visiting the refinery said that Indian Oil Corporation’s Gujarat Refinery had been asked to jump directly from BS IV to the more strict BS VI norms for petrol and diesel, so that cleaner transport fuels became accessible sooner to bring down vehicular emissions.'

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TOP CORPORATE NEWS- 7 Apr 2016

BHEL gains on better than expected Q4FY16 performance

Shares of BHEL gained over 5% to on NSE in an otherwise weak market after announcing its provisional results which came better than expected performance in Q4FY16.BHEL reported Rs398 crore profit in Q4FY16 which was above our as well as street estimates while the turnover was in-line with our estimates.

Tata Motors JLR March 2016 retail sales grow 30% YoY

JLR global retail sales for March 2016 came in at a record high of 75,303 units up 29% YoY and were ahead of our estimates.Jaguar sales nos were up record 62% YoY on the back of sustained sales momentum for XE (6,521 vehicles) and the all-new XF (5,331 vehicles). Jaguar recorded significant year-on-year growth across all five of its key regions, with Europe excelling, up 151%. Growth.

Hindalco: Novelis in talks with banks on $5.3 billion refinancing

Hindalco: As per media news, Novelis said to be in talks with banks on $5.3 billion refinancing.The loans the Atlanta-based unit of Hindalco Industries is seeking to refinance are currently due by 2017. Hindalco Industries Ltd may initially seek to refinance as much as $3.5 billion of debt.

HDFC to make additional one-time provision of Rs450 crore in Q4

HDFC is set to make additional one-time provision of Rs450 crore in Q4 (Jan-Mar qtr); it also will account for Rs1, 705 crore on stake sa in its life insurance subsidiary, HDFC Standard Life.

Axis Bank takes over Jaypee's Nirman Sadan against Rs700 cr debt

Axis Bank takes over Jaypee's Nirman Sadan against Rs700 cr debt – Positive in terms of some recovery.Jaypee Group's headquarter in Noida - Nirman Sadan, has been taken over by Axis Bank against Rs700 crore owed by the company.

With this deal, Jaypee's exposure to Axis Bank, which stood at around Rs1500 crore, has been reduced to half.

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RBI cuts Repo Rate by 25 bps

RBI cuts Repo Rate by 25 bps

The Central Bank has cut the repo rate by 25 bps. RBI has also kept the CRR unchanged at 4%

RBI Cuts repo rate by 25 bps to 6.50%.

RBI Keeps CRR unchanged at 4%.

Liquidity conditions stressed by Govt's cash Accumulation.

Expect CPI Inflation to remain around 5% in 2016-17.

Expect economy to grow by 7.6% in FY17.

Petrol price hiked by Rs2.19 per litre, Diesel by 98 paise a litre

There is another hike in petrol price as now a litre costs Rs61.87 for a litre. The increase has been of Rs2.19. While diesel too has seen an upward movement in price by 98 paise to Rs49.31 for a litre (both prices in New Delhi). This has been a second consecutive hike in petrol and diesel prices in last 15 days. The total hike has been of Rs3.09 for petrol and Rs1.90 for diesel.

Aurobindo gets USFDA nod for anti-infective drug

Aurobindo Pharma has announced that the product is expected to be launched in Q2 September 2016. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Polymyxin B for Injection USP, 5 lakh units/vial of Eurohealth International Sarl.

Hero Motocorp March 2016 sales grow 14% YoY

Hero Motocorp March 2016 sales grow 14% yoy on low base; marginally ahead of estimates.Hero Motocorp sales in the month of March 2016 grew 14% yoy to 606,542 units on low base of the corresponding month last year. The sales were marginally ahead of our estimates of 580,000 units.

Adani receives Tamil Nadu Government nod to buy Kattupalli port

As per media reports, Adani Ports has received Tamil Nadu Government nod to buy Kattupalli port from L&T- Positive for L&T.

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ICICI Bank sells part stake in insurance firms for Rs2200 crore

ICICI Bank sells part stake in insurance firms for Rs2200 crore

ICICI Bank has sold 9% stake in its general insurance venture ICICI Lombard to Fairfax Financial Holdings for an estimated Rs1,550 crore, also the Bank has sold 2% stake in its life insurance subsidiary ICICI Prudential to Compassvale Investments for about Rs650.The deal had been announced earlier and was awaiting requisite approvals.

Geometric spurts after HCL Tech acquires IT services business

Shares of Geometric surged 19% to Rs232.90 on NSE in an otherwise flat markets on reports that HCL Technologies has acquired the Geometric Limited’s IT services business in an all-stock deal, neutral for HCL Tech, Positive for Geometric shareholders (each share valued at Rs260 as compare to CMP of Rs196).

Godrej Consumer gains on acquiring 100% stake in Strength of Nature

Shares of Godrej Consumer Products gained nearly 3% to Rs1421.70 on NSE in an otherwise flat markets on back of reports that the company has acquired 100% stake in Strength of Nature, LLC (OPM of 22% higher than GCPL consolidated OPM) thereby focusing on African Wet hair care market ($1bn).This is positive for GCPL as acquisition is expected to earning accretive from year one of consolidation.

Bajaj Auto March 2016 sales grow 22% YoY

Bajaj Auto March 2016 sales grow 22% yoy led by market share gains and low base of corresponding month; ahead of estimates.Bajaj Auto overall sales grew 22% yoy to 305,800 units in the month of March 2016 and were ahead of our estimates of 2.84 lakh units.

Hexaware drops as Baring Asia backs off from plans to sell stake

Shares of Hexaware dropped 5% to Rs258.10 on NSE as media flash stated that Baring Asia dropped complete stake sale plans in Hexaware (Holds 71% stake).However, hinted at selling around 20% stake and retaining controlling stake of 51% stake in the company.The news was sentimentally negative, as street was anticipating a complete stake sale of Baring.

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