TOP CORPORATE NEWS- 16 May 2016

April WPI Positive after 17 months of decline

India’s wholesale prices was in positive after 17 consecutive months of shrinking, with the Wholesale Price Index (WPI)-based inflation rising at 0.34% in April as compared to -0.85% in the previous month of March. April WPI Inflation at 0.34% Vs -0.85% (MoM) Primary Articles Inflation at 2.34% Vs 2.13% (MoM) Food Articles Inflation at 4.23% Vs 3.73% (MoM) Vegetable Inflation at 2.21% Vs -2.26% (MoM) Pulses Inflation at 36.36% Vs 34.45% (MoM) Cereals Inflation at 2.64% Vs 2.47% (MoM) Fruits Inflation at -2.38% Vs -2.13% (MoM) Egg, Meat & Fish Inflation at 3.34% Vs 3.69% (MoM) Fuel Inflation at -4.83% Vs -8.3% (MoM) Manufactured Products Inflation at 0.71% Vs -0.13% (MoM) Primary Articles Index up 2.1% (MoM) Food Articles Index up 2% (MoM) Non-food Articles Index up 3% (MoM) All Commodities Index up 1.4% (MoM) Minerals Group Index up 0.6% (MoM) Fuel & Power Index up 1.7% (MoM). Manufactured Products Index up 0.8% (MoM). Food Products Index up 3.2% (MoM). Food Articles Inflation at 4.23% Vs 3.73% (MoM). Feb WPI Inflation Revised to -0.85% from -0.91%.

M&M enters Liquid Milk business in MP

M&M recently launched 'Saboro' brand liquid milk ouches in Madhya Pradesh to mark its entry in the sector. The company has a plan to expand its milk business and other dairy products on to other parts of the country as well, but in a phased manner. The road ahead would hinge on creating a large sourcing base and providing extraordinary quality. Currently the operations are based at Indore and in the coming years will expand to other locations. Further the management has mentioned that investments will depend on the arising opportunity and decisions will be taken on case to case..

Zee learn rallies post Q4FY16 results

Zee learn surged 19% to Rs33.05 on NSE after hitting an upper circuit, Of Rs33.50 post Q4FY16 results. Zee learn reported revenue growth of 18% YoY at Rs151.3 crore compared to Rs127.8 crore in Q3FY15. OPM for the quarter increased to 29% from 24% in Q3FY15. For Q4FY16

Strides Shasun Q4 consolidated net profit at Rs96 cr

Strides Shasun Ltd has announced the following audited Q4 & FY16 results for the quarter & year ended March 31, 2016:

For the Quarter ended March 31, 2016 (YoY). The Company has posted a net profit of Rs59.63 crore Vs Rs69.66 crore. Total Income at Rs680.95 crore Vs Rs290.11 crore .For the Year ended March 31, 2016 The Company has posted a net profit of Rs161.06 crore VS Rs532.32 crore. Total Income is Rs2345.22 crore Vs Rs1029.59 crore.

Reliance Defence reports Rs102 cr net profit in Q4

Reliance Defence and Engineering Ltd has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:The Company has posted a net profit of Rs102.44 crore Vs net loss of Rs158.28 crore (YoY). Total Income increased to Rs115.31 crore Vs Rs56.15 crore. For the Year ended March 31, 2016 (Audited).

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TOP CORPORATE NEWS- 13 May 2016

March IIP growth slows at 0.1%; April CPI Inflation spurs to 5.39%

March IIP growth slows at 0.1%; April CPI Inflation spurs to 5.39%

Manufacturing Sector Output At -1.2% Vs 0.7% (MoM)

Mining Sector Output At -0.1% Vs 5% (MoM)

Electricity Sector Output At 11.3% Vs 9.6% (MoM)

Basic Goods Output At 4% Vs 5.4% (MoM)

Capital Goods Output At -15.4% Vs -9.8% (MoM)

Intermediate Goods Output At 3.7% Vs 5.7% (MoM)

Consumer Goods Output At 0.4% Vs 0.8% (MoM)

Consumer Durables Output At 8.7% Vs 9.7% (MoM)

Consumer Non-durables Output At -4.4% Vs -4.2% (MoM)

April CPI Inflation At 5.39% Vs 4.83% (MoM)

Food Inflation At 6.32% Vs 5.21% (MoM)

Rural Inflation At 6.09% Vs 5.7% (MoM)

Urban Inflation At 4.68% Vs 3.95% (MoM)

Vegetable Price Inflation At 4.82% Vs 0.54% (MoM)

Combined Fuel & Light Inflation At 3.03% Vs 3.38% (MoM)

Clothing, Footwear Inflation At 5.56% Vs 5.50% (MoM)

Cereals & Products Inflation At 2.43% Vs 2.43% (MoM)

Milk & Products Inflation At 3.32% Vs 3.33% (MoM)

Pulses & Products Price Inflation At 34.13% Vs 34.15% (MoM)

Urban Consumer Housing Inflation At 5.37% Vs 5.31% (MoM)

Glenmark Pharma Q4 net profit at Rs508 cr (YoY)

Glenmark Pharmaceuticals Ltd has announced the following Q4 & FY16 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 Rs507.75 crore Vs Rs670.43 crore.

Total Income decreased to Rs1972.67 crore Vs Rs3157.79 crore.

Eicher Motors slumps as promoters sell 11.4 lakh shares

Shares of Eicher Motors dropped 4% to Rs18979 on NSE on reports that the promoters have sold 11.4 lakh shares representing 4.3% of the total share capital and 7.6% of their shareholding in the company.

The stake sale is for the amount of Rs 2,160 cr. Negative for the company.

Crompton Greaves slumps 5% on demerger

Shares of Crompton Greaves dropped 5% to Rs60.30 on NSE post the listing of de-merged consumer durable entity, Crompton Greaves Consumer Electricals today.

UCO Bank Q4 net loss at Rs1715 crore

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

For the Quarter ended March 31, 2016

The Bank has posted a net loss of Rs1715.16 crore Vs net profit of Rs209.28 crore.

Total Income decreased by 9.83% to Rs4745.48 crore Vs Rs5263.36 crore.

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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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