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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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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