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-12 APRIL 2016

World Bank expects India to grow at 7.7% in FY17

The World Bank, India’s economic activity is expected to accelerate from 7.5% in FY2016 to 7.7% in FY2017 based on the expectation of strong private investment, a push in infrastructure spending, an improved investment climate, and improved corporate financials.

SKS Microfinance to cut lending rate

Leading microfinance company, SKS Microfinance has said that it is planning to cut lending rates which will enable micro loans to become cheaper. The company may decrease rate by around 15 basis points as it prepares to defend its position from the probable rise of small finance banks soon. Commenting on the issue, SKS Microfinance President Dilli Raj said that a 10-15 basis points rate cut was a certainty. They would do it within a month. Keeping lending rate low was their primary st rategy.'

L&T bags orders worth Rs2,456 crore from Oman

Larsen and Toubro ( L&T):  L&T Hydrocarbon Engineering (LTHE), a Wholly-owned subsidiary of Larson and Toubro bagged orders worth Rs2, 456 crore from Petroleum Development Oman. The company has already executed three projects for Petroleum Development Oman.

Hero MotorCorp gains on plans to begin production at Chittoor plant

Hero MotorCorp gained 3% to Rs3055 on NSE on reports that the company has plans to begin production at Chittoor plant by December 2018. Hero MotoCorp Ltd (HMCL) has submitted plans to begin production at its proposed plant in Chittoor in Andhra Pradesh. HMCL will commence production of 5 lakh units (per annum) in the first phase by December 2018 with an investment of Rs800 crore, It will add another 5 lakh units in the second phase by December 2020, and an additional 8 lakh units in the final stage by December 2023 with an additional investment of Rs800 cr.

Adani Ports raises Rs500 crore via NCDs

Adani Ports and Special Economic Zone has raised Rs500 crore on April 11, 2016 by allotment of 5,000 Rated, Listed, Secured, Taxable, Redeemable, Non-Convertible Debentures ( NCDs) of the face value of Rs10,00,000/- each on private placement basis. The said NCDs will be listed on the Wholesale Debt Market segment of BSE Limited.

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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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