TOP CORPORATE NEWS- 27 Apr 2016

Alembic Pharma Q4: Cons Net Profit +29.6% at Rs91.2 Cr

Alembic Pharma Q4: Cons Net Profit +29.6% At Rs.91.2 Cr Vs Rs.70.3 Cr (YoY)

Cons Total Income +24.6% At Rs.626.6 Cr Vs Rs.503 Cr (YoY)

Cons EBITDA At Rs.143.3 Cr Vs Rs.98 Cr (YoY)

Cons EBITDA +46.3% At Rs.143.3 Cr Vs Rs.98 Cr (YoY)

India Generic Biz Revenue -46% At 17.4 Cr Vs Rs.32.1 Cr (YoY)

India Branded Biz Revenue +12% At 259.6 Cr Vs Rs.232.1 Cr (YoY)

Intl Biz Revenue +20% At 190.2 Cr Vs Rs.158.3 Cr (YoY)

Axis Bank drops post Q4FY16 results

Shares of Axis Bank dropped 3.4% to Rs464 on NSE post Q4FY16 result update where business growth remained healthy; Asset quality stable; PT revised to Rs590.

NII up 19.8%; Margins expand: Axis bank reported a strong 19.8% growth in Net interest for Q4FY16 owing to 20.5% jump in the advances and expansion in Net Interest Margins (up 16 BPS Yo and 18 BPS QoQ). Non-interest income growth was flat as treasury profit declined by 65.4% YoY, however retail fee income showed a growth of 15.1% YoY. Provisions for Q4FY16 surged by 64.6% YoY owing to Rs300 crore contingent provisions made during the quarter.

Yes Bank reports robust operating performance; Asset quality deteriorates

Yes Bank has announced the following audited Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

The Bank has posted a net profit of Rs702.11 crore Vs Rs550.99 crore (YoY).

Total Income increased to Rs4331.11 crore Vs Rs3678.83 crore (YoY).

M&M launches bigger variant of Bolero pick-up truck

M&M launches bigger variant of the Bolero pick-up truck; to further consolidate leadership in pick up category,M&M launched the new “Big Bolero” pick-up truck in two variants on with 1,250 Kg payload and the other with 1,500 Kg payload.

The pick-up is powered by the proven MDI Turbo charged engine. The vehicle is priced at Rs6.15 lakh (BS3 ex showroom Pune) and Rs6.3 lakh (BS4 ex-showroom Pune).

Aurobindo Pharma receives USFDA approval for Oxymorphone Tablets

Aurobindo Pharma receives USFDA Approval for Oxymorphone Hydrochloride Tablets – Positive for Aurobindo.

Aurobindo gets final approval from USFDA to manufacture and market Oxymorphone Hydrochloride Tablets, used to help relieve moderate to severe acute pain where the use of an opioid is appropriate.

The approved product has an estimated market size of US$ 55.5 million for the twelve months ending February 2016 according to IMS.

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TOP CORPORATE NEWS- 26 Apr 2016

Maruti Suzuki Q4 net profit down 12% to Rs1134 cr (YoY)

Maruti Suzuki India has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (Unaudited)

Net Profit falls by 11.72% to Rs1133.60 crore Vs Rs1284.20 crore (YoY).

Total Income increased by 10.62% to Rs15426.90 crore Vs Rs13944.70 crore (YoY).

M&M launches Scorpio Adventure at Rs13.07 lakh

M&M has launched the Scorpio Adventure Limited Edition utility vehicle at a price of Rs13.07 lakh (Ex-showroom pre-Octroi, Navi Mumbai) and is based on the top-of-the-line S10 variant of the existing Scorpio.

While the vehicle's interior remains unchanged, it looks slightly different from outside with Mist Silver and White dual-tone with adventure-themed decals, gun metal-finished alloy wheels and red brake callipers.

BPCL receives green nod for Rs694 crore project

BPCL has received green nod for its Rs694 crore project of developing LPG 1 mmpta import terminal as well as storage, bottling and bulk distribution facilities at Haldia Dock Complex in West Bengal.

Sun Pharma, Govt in PPP for malaria eradication

Sun Pharmaceuticals has entered into a public private partnership (PPP) with the Union and Madhya Pradesh governments for a campaign to ensure a malaria-free India.

In this partnership, the three stakeholders will establish a phased malaria eradication project for most endemic districts of Madhya Pradesh.

Moreover, the company and the Indian Council of Medical Research (ICMR) may enter a joint drug development programme to manufacture new patented drugs.

Hindalco up after Aditya to accept improved Metals X bid

Hindalco Industries has announced that it has communicated to Aditya Birla Minerals ( ABML) its intention to accept the improved offer by Metal X to acquire shares of ABML subject to receiving the approval of the Reserve Bank of India ( RBI) and no bona fide superior proposal being announced by a third party within 5 business days of Metals X announcing its intention to make the offer.

Metal X, a listed company in Australia has made an announcement regarding its intention to improve its ongoing takeover offer for acquiring shares of ABML under the relevant laws of Australia. ABML is a subsidiary of Hindalco Industries and listed on Australian Stock Exchange.

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Maruti Suzuki’s Baleno receives 3-star rating in NCAP test

Aurobindo Pharma gets USFDA nod for gNexium

Aurobindo gets approval from the USFDA to manufacture and market gNexium, used to treat gastric ulcers. The launch of the product will be based on settlement terms/litigation outcome with Astrazeneca.This is the 70th ANDA (including 15 tentative approvals) to be approved from Unit 7 formulation facility.

HDFC Bank Q4 profit in line with estimates

HDFC Bank has announced the following audited results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016

Net Profit rose by 20.21% to Rs3374.22 crore Vs Rs2806.91 crore (YoY).

Total Income increased by 21.14% to Rs18862.61 crore Vs Rs15570.13 crore (YoY).

Dewan Housing rises on talks to buy Andromeda

Shares of Dewan Housing rose 2% to Rs208 on NSE in an otherwise weak market on reports that the company is in talks to buy Andromeda for up to Rs250 crore – Positive as enhanced distribution network would support loan growth.Dewan Housing Finance Ltd is in talks to acquire Andromeda Sales and Distribution Pvt. Ltd, one of the largest distributors of loans, mortgage, financing and financial instruments in India.

Maruti Suzuki’s Baleno receives 3-star rating in NCAP test

Leading Auto giant, Maruti Suzuki’s premium hatchback Baleno has received a 3-star rating out of 5-star in a crash test with standard equipment by automobile safety agency Euro NCAP (New Car Assessment Programme).The Japanese-Indian auto-maker’s global model Baleno is manufactured only in India. The model received a four star rating in Safety pack.

Emami's FY16 results on May 05, 2016

Emami Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 05, 2016, inter alia, to consider Audited Annual Accounts of the Company for the Financial Year ended March 31, 2016 and to consider, if thought fit, to recommend the Dividend for the Financial Year 2015-16.

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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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