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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TOP CORPORATE NEWS- 21 Apr 2016

IndusInd Bank Q4: Net Profit at Rs620 Cr Vs Rs495.3 Cr (YoY)

IndusInd Bank Q4: Net Profit at Rs620 Cr Vs Rs495.3 Cr (YoY)

Gross NPA At 0.87% Vs 0.82% (QoQ)

Net NPA At 0.36% Vs 0.33% (QoQ)

Gross NPA at Rs.776.8 Cr Vs Rs.681.1 Cr (QoQ)

Net NPA at Rs.321.7 Cr Vs Rs.273.3 Cr (QoQ)

Provisions at Rs.213.6 Cr Vs Rs.177 Cr (QoQ)

NII at Rs.1, 268.2 Cr Vs Rs.925.1 Cr (YoY)

Glenmark Pharma gets 483 form for Pithampur plant

Glenmark Pharma gets 483 form from USFDA for Pithampur plant.

Although the news is sentimentally negative for the company, according to the management clarification, Zetia (one of the key launch) has been filed from three facilities, hence it’s a breather for the stock.

Cyient Q4 consolidated net profit at Rs66 cr (YoY)

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

Standalone

For the Quarter ended March 31, 2016

The Company has posted a net profit of Rs24.92 crore Vs Rs72.48 crore (YoY).

Total Income has decreased to Rs302.86 crore Vs Rs352.22 crore (YoY).

Alembic Pharma spurts on JV with Orbicular Pharma

Shares of Alembic Pharmaceuticals Ltd (APL) spurted 7.53% to Rs615 on NSE after the company today said that it has entered into a joint venture with Orbicular Pharmaceutical Technologies and Dr M S Mohan to develop, manufacture and commercialise dermatology products for global markets.

APL and Orbicular will own 60 percent and 40 percent of the equity capital of Aleor when the transaction is completed. Total Income has increased to Rs203.15 crore Vs Rs183.77 crore (YoY).

RIL to expand its GenNext Venture, collaborates with Invest Ottawa.

The Indian conglomerate, Reliance Industries Ltd (RIL) has announced to partner with Invest Ottawa, an economic development agency for the city of Ottawa. The partnership will help Reliance Industries GenNext Ventures and the Canadian startups to grow parallel exploiting markets for the best.

The two-year MOU was signed in Mumbai in the presence of eminent members of both sides. VP Rajan Luthra represented Reliance Industries where as Invest Ottawa was represented by its CEO, Bruce Lazenby. The meet also saw the presence of the Mayor of the City of Ottawa Jim Watson and Canadian Consul General in Mumbai Jordan Reeves.

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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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