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- 6 May 2016

Havells expects revenue of around Rs100 Cr by 2020

Havells entered a new product lines automation & smart solutions business.

The management expects of revenue of around Rs100 Cr from the automation & control by 2020.

Emami’s Dubai arm acquires 18.33% share in Fravin

Leading FMCG brand, Emami has said that its wholly owned subsidiary based in Dubai, Emami International FZE has further acquired 18.33% of the share Capital of its subsidiary Fravin Pty. Ltd, Australia.

Consequent to the above acquisition of shares, aggregate shareholding of Emami International FZE in its subsidiary company M/S. Fravin Pty Ltd has been increased from 66.67% to 85% share capital of Fravin Pty. Ltd.

Hero Motocorp Q4 profit in-line

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

Standalone

For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net profit of Rs814.16 crore Vs Rs476.53 crore.

Total Income increased to Rs7614.61 crore Vs Rs6886.75 crore.

Aurobindo receives USFDA approval for fenofibrate tablets

Aurobindo Pharma receives USFDA approval for fenofibrate tablets ( gTricor) – Positive for Aurobindo; Strong growth to sustain over next two years on the back of continuous product approvals being received.

Aurobindo has received final approval from the USFDA to manufacture and market Fenofibrate Tablets, used to treat high level of cholesterol and triglyceride in the blood. This product is expected to be launched in Q1 FY16-17.

Bharti Airtel plans for divestment of telecom towers

Bharti Airtel International (Netherlands) BV, and Helios Towers Africa (HTA), a leading independent telecoms towers company in Africa, announced an agreement for the divestment of approximately 950 telecoms towers in the Democratic Republic of Congo (DRC) from Bharti Airtel to HTA.

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TOP CORPORATE NEWS- 4 May 2016

Adani Ports slumps post Q4FY2016 earnings

Shares of Adani Ports and Special Economic Zone slumped 13% to Rs 206 on NSE after the company reported 38% YoY rise in consolidated PAT for Q4FY2016 to Rs914 crore (includes derivate gain of Rs139 crore vs Rs24 crore last year same period).

The consolidated total income and EBITDA increased by 18% YoY and 12% YoY respectively.

The company has given a guidance of 10-15% YoY cargo volume growth and corresponding 10-15% YoY growth in PAT for FY2017

JSW Energy to acquire JSPL’s 1000MW Raigarh plant

JSW Energy to acquire JSPL’s 1000MW Raigarh thermal power plant at Rs6500 crore– Positive for JSPL & JSW energy

JSW Energy is set to acquire 1000 MW Thermal Power project at Raigarh, Chattisgargh from JSPL.

The consideration to be paid by JSW energy is linked to an enterprise value of Rs 4000 crore plus net current assets.

Tata Motors weakens on disappointing JLR April sales

Shares of Indian auto major Tata Motors tanked 7% to Rs381 on NSE after its JLR US April 2016 retail sales declined marginally by 2% yoy; below estimates; negative

JLR retail sales in the US market for the month of April 2016 declined marginally 2% yoy to 6,275 units and were below estimates. JLR underperformed the US car industry which reported a 3% growth in the month of April 2016.

Jaguar sales at 1,087 units remained flat on yoy basis. In the corresponding month last year, Jaguar had retailed 1,079 units.

Adani Ent cracks on weak Q4 net profit

Shares of Adani Enterprises cracked 8% to Rs79 on NSE after its Q4 Consolidated Net Profit dropped by 14.8% at Rs166.8 Cr Vs Rs195.8 Cr (QoQ).

Total Income +5.2% at Rs.10, 950 Cr Vs Rs.10, 408 Cr (QoQ)

EBITDA + 10.3% at Rs.515.3 Cr VS Rs.467.3 Cr (QoQ)

EBITDA Margin At 4.7% Vs 4.5% (QoQ)

Exceptional Loss at Rs.75 Cr Vs Profit Of Rs.13 Cr (QoQ)

Tax Expense at Rs.8 Cr Vv Rs.55 Cr (QoQ)

To Raise Fund Via Issue Of Debt Instruments For Up To Rs.6,000 Cr

Alstom T&D tanks on weak Q4 earnings

Shares of Alstom T&D India tanked over 6% to Rs355 on NSE led by weak Q4FY2016 earnings.

Alstom T & D India Ltd announced the following results:

Unaudited Standalone for Quarter ended March 31, 2016

Net profit at Rs29.87 crore vs Rs54.03 crore (YoY)

Total Income at Rs977.93 crore vs Rs1368.35 crore (YoY)

Audited Standalone for Year ended March 31, 2016

Net profit at Rs77.51 crore vs Rs120.57 crore (YoY)

Total Income at Rs3450.31 crore vs Rs3722.10 crore (YoY)

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