Kotak Mahindra Bank Q4 consolidated net profit at Rs1055 cr

Asian Paints Q4 profit In-Line with estimates

Asian Paints has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone (Audited)

For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net profit of Rs386.95 crore Vs Rs339.82 crore.

Total Income increased to Rs3262.67 crore Vs Rs2936.36 crore.

Cadila Healthcare gets USFDA approval for Glyburide tablets

Pharma major, Cadila Healthcare Ltd said that it has received final approval from the USFDA to market Glyburide Tablets USP in strengths of 1.25, 2.5 and 5 mg.

Glyburide, which is an anti-diabetic drug will be produced at the group’s formulations manufacturing facility at Baddi, the company said in a filing to the Bombay Stock Exchange.

Kotak Mahindra Bank Q4 consolidated net profit at Rs1055 cr

Kotak Mahindra Bank has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016

Standalone

For the Quarter ended March 31, 2016 (Audited)

The Bank has posted a net profit of Rs695.78 crore Vs Rs527.14 crore (YoY).

Total Income is Rs4947.32 crore Vs Rs3249.08 crore (YoY).

Havells Q4FY16 Result update: Largely in-line with street estimates

Havells Q4: Net Profit at Rs.366.5 Cr Vs Rs.122 Cr (YoY)

Total Income +9.3% at Rs.1, 475 Cr Vs Rs.1, 349 Cr (YoY)

Exceptional Gain at Rs.202.4 Cr

EBITDA +21.5% at Rs.220 Cr Vs Rs.181 Cr (YoY)

EBITDA Margin At 14.8% Vs 13.4% (YoY)

Havells Q4FY16 Result update: Largely in-line with street estimates.

Vakrangee Q4: Cons Net Profit at Rs110.8 cr

Vakrangee Q4: Cons Net Profit at Rs.110.8 Cr Vs Rs.102.8 Cr (QoQ)

Total Income at Rs.880 Cr Vs Rs.819 Cr (QoQ)

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TOP CORPORATE NEWS- 10 May 2016

Kaveri Seed Q4 consolidated net loss at Rs7 cr (YoY)

Kaveri Seed Company has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (Unaudited)

The Company has posted a net loss of Rs9.76 crore Vs net profit of Rs2.30 crore (YoY).

Total Income increased to Rs36.31 crore Vs Rs34.12 crore (YoY).

Crompton Greaves signs share purchase agreement with First Reserve

Crompton Greaves has signed a share purchase agreement with First Reserve to sell its international Transmission & Distribution business.

The transaction is expected to be complete by 31st October 2016, subject to shareholders and regulatory approvals. Earlier in March Company had announced that it has accepted the offer.

JSW Steel among 7 bidders short-listed for Tata Steel UK asset

JSW Steel fell over 2%, touching to Rs1292, on reports that the company is among seven bidders shortlisted for Tata Steel's UK assets.

Tata Steel has announced that it has accepted seven expressions of interest for the sale of its UK business. Tata Steel Europe has not disclosed details of bidders. On April 11, 2016, Tata Steel Europe announced that the company has commenced the formal process for the divestment of its entire holding in its British subsidiary Tata Steel UK. Tata Steel Europe has decided to sell its entire holding in Tata Steel UK due to the deteriorating financial performance of the UK subsidiary.

Arvind to raise fund via NCDs

Textiles to retail conglomerate Arvind said that it is planning to raise up to Rs500 crore through issuance of non-convertible debentures on a private placement basis.

The Board will consider the matter regarding fund raising options available to the Company by way of issue of non-convertible debentures up to Rs500 crore on a private placement basis subject to approval of shareholders.

Tata Motors drops on below than estimate JLR Sales

Shares of auto major Tata Motors dropped 4% to Rs389 on NSE as its Jaguar Land Rover Retail Sales grew 11% YoY in April 2016 which were below estimates. Negative for Tata Motors.

Jaguar Land Rover, reported April 2016 retail sales of 41,341 vehicles, up 11% YoY. The sales were below estimates (we had estimated growth of 17-18% on yoy basis). The company sold 200,154 vehicles in the first four months of 2016, which is up 24% YoY.

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TOP CORPORATE NEWS- 3 May 2016

TVS Motor slumps as Q4 earnings miss estimates

Shares of TVS Motor dropped over 12 % to Rs280 on NSE after its Q4 Net Profit rose 30.1% at Rs117.8 Cr Vs Rs90.5 Cr (YoY)

TVS Motors Q4FY16 results review: Operating performance misses estimates; Net Profit in line due to higher other income and lower taxation.

Total Income +15.2% at Rs.2, 815 Cr Vs Rs.2, 443 Cr (YoY)

EBITDA +19.4% at Rs.178.5 Cr Vs Rs.149.5 Cr (YoY)

EBITDA Margin At 6.3% Vs 6.1% (YoY)

Other Income at Rs.24.2 Cr Vs Rs.10 Cr (YoY).

MRF Q4 net profit up 13% (YoY)

MRF has announced the following Q4 & FY16 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 Rs375.90 crore Vs Rs332.62 crore (YoY).

Total Income increased to Rs3456.48 crore Vs Rs3332.77 crore (YoY).

Century Textiles Q4 net profit down 22% (YoY)

Century Textiles & Industries Ltd has announced the following Standalone Q4 & FY16 results for the quarter & year ended March 31, 2016:

The Company has posted a net profit of Rs9.16 crore Vs Rs11.81 crore (YoY).

Total Income decreased to Rs2059.28 crore Vs Rs2109.54 crore (YoY).

Maruti to launch LCV in H1FY17; eyes annual sales of 30k units

Maruti Suzuki is set to launch its light commercial vehicle (LCV) by August-September this year. The LCV project, codenamed Y9T, was first announced by the company in FY15 but put on indefinite hold due to design issues.

The new LCV is likely to have an 800 cc engine and compete with Tata Motors Ace and M&M’s Gio. Maruti, has reportedly shared its plan with top vendors in Thailand last week and is likely to be eyeing annual volumes of 30,000 units from this business.

Dr Reddy gets tentative approval for gAvandia tablets

Dr Reddy gets tentative approval for gAvandia tablets (rosiglitazone maleate), an antidiabetic drug – Positive for Dr Reddy.

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TOP CORPORATE NEWS- 2 May 2016

TVS Motor receives approval for Rs310 crore expansion plan

TVS Motor has received an approval from Karnataka Government for its proposed Rs310 crore expansion plan for its Mysore facility.

The approval comes in line with the company’s plans to expand its production capacities. Positive for TVS Motor Company.

HDFC Q4 profit boosted by sale of Investment

Housing Development Finance Corporation (HDFC) 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 rose by 39.98% to Rs2607.05 crore Vs Rs1862.43 crore (YoY).

Total Income increased by 23.72% to Rs9225.72 crore Vs Rs7456.43 crore.

Ujjivan IPO gets oversubscribed 1.22 times

The IPO of Ujjivan Financial Services has been oversubscribed 1.22 times during the morning trade on the last day of the offer today, as per report.

The Rs885-crore public issue received bids for 3, 61, 64,170 shares against the total issue size of 2, 96, 63,706 shares, data available with the NSE till 10:30 hrs showed.

Ujjivan's issue, which is scheduled to close today, comprises fresh issuance of shares worth Rs358.16 crore and an offer for sale of up to 24,968,332 shares by the existing shareholders, as per reports.

Price band for the offer has been fixed at Rs207-210.

Petrol Price hikes by Rs1.06/Ltr, Diesel by Rs2.94/Ltr

Petrol price was today hiked by Rs1.06 per litre and diesel by Rs2.94 a litre.

Petrol in Delhi will cost Rs62.19 per litre from midnight tonight as against Rs61.13 currently, said Indian Oil Corporation (IOC), the nation's largest fuel retailer.

Similarly, a litre of diesel will cost Rs50.95 compared to Rs48.01 at present.

RBI allows up to 60% Foreign Holding in Yes Bank

Reserve Bank of India (RBI) has allowed foreign investors to buy up to 60% stake in Yes Bank. The Bank passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.

Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 49% up to 60% of the paid up capital of the bank under the Portfolio Investment Scheme (PIS).

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Idea Cellular slumps post Q4FY16 earnings

Shriram Trans Q4: Net Profit at Rs144 Cr

Shriram Trans Q4: Net Profit at Rs144 Cr: Shriram Tran 927.75 -3.79% NII at Rs1,475 Cr

Total Income at Rs2918 Cr Vs Rs2312.33 Cr (YoY)

FY16 net profit at Rs1178.20 Cr vs Rs1237.81 Cr (YoY)

FY16 total income at Rs10245.26 Cr vs Rs8644.73 Cr (YoY)

ICICI Bank Q4FY16 results: Asset quality deteriorates

ICICI bank has reported deteriorated asset quality for Q4FY16 as G NPA rose by 110 BPS to 5.82% QoQ as accounts worth around Rs7000 crore slipped into NPA, however RBI’s AQR has been completely taken into account.

The Bank reported a modest 6.4% growth in Net interest income while the non interest income was up by 46.1% YoY. Provisions rose sharply by 147.4% YoY owing to Rs3600 crore additional contingent provisioning done during the quarter.

Profit during the quarter came in at Rs702 crore (down 76% YoY) owing to higher provisioning. We currently have a hold rating on the stock and would come out with detailed note post management interaction.

Lupin surges on re-introducing Methergine Oral Tablets

Lupin rose over 2%, touching to Rs1617.65, after the company announced that its US subsidiary has re-introduced Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage.

Lupin and its US subsidiary, Lupin Pharmaceuticals, Inc. have announced the re-introduction of Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage (PPH). Methergine is the only FDA-approved oral uterotonic and is a preferred oral agent in the management of PPH, according to guidelines issued by the American Congress of Obstetricians and Gynecologists (ACOG).

Idea Cellular slumps post Q4FY16 earnings

Shares of Idea Cellular slumped 6% to Rs119.35 on NSE post Q4FY16 earnings which beat estimates but share price fell as volume growth remained soft.

Idea cellular posted strong operational performance, its operating profit grew by 15.6% on a sequential basis, backed by pricing growth in voice (+4.7% qoq) as well as data(+2.7% qoq) segment, but the growth volume growth tapered for both the segments at 1.2% and 1.5% qoq).Higher depreciation & interest cost resulted in 24.7% qoq decline in net earnings.

Ajanta Pharma Q4 consolidated net profit up 43% (YoY)

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

Standalone (YoY)

For the Quarter ended March 31, 2016

The Company has posted a net profit of Rs135.71 crore Vs Rs84.31 crore.

Total Income increased to Rs443.26 crore Vs Rs371.68 crore.

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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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