TOP CORPORATE NEWS- 8 Apr 2016

Reliance Communications to launch 4G on May 4

Leading telecom giant, Reliance Communications has announced that it will advance its estimated 5 million CDMA customers to a 4G network in segments from May 4. With this decision, the telecom giant joins bigger competitors like Bharti Airtel, Vodafone India and Idea Cellular in unveiling high-speed broadband services.

ITC, Starwood extend partnership, add 3 more properties

ITC Ltd and Starwood Hotels and Resorts today extended their existing partnership for 11 ITC Luxury Collection hotels and one hotel under the Sheraton brand.

Strengthening their partnership further, the two partners also announced three upcoming ITC hotels under Starwood's 'The Luxury Collection' brand in India.

The addition of ITC Kohinoor in Hyderabad, ITC Narmada in Ahmedabad and ITC Royal Bengal in Kolkata will take the inventory up to 15 hotels.

Lupin gains on launching first product from GAVIS pipeline

Lupin surged over 2%, touched to Rs1541.55, after the pharma major said that is US-based subsidiary Lupin Pharmaceuticals Inc., has launched the first product from its GAVIS pipeline. The subsidiary has launched Zolpidem Sublingual Tablets, 1.75mg & 3.5mg which has been approved by the USFDA and final clearance from the FTC with 180 days of exclusivity. Zolpidem Sublingual Tablets, 1.75mg and 3.5mg are AB-rated generic equivalent of Purdue Pharma L.P's Intermezzo Sublingual Tablets, 1.75mg and 3.5mg and is dispensed for the treatment of insomnia.

HUL completes acquistion of Indulekha brand oil.

Hindustan Unilever (HUL) announced that it has completed the acquisition of Masons Group flagship hair oil brand Indulekha.It may be recalled that in December 2015, HUL had announced signing an agreement with Masons Group for acquisition of its flagship Indulekha brand.

IOC to invest Rs20,000 cr in Gujarat refinery

The Indian Government has said that PSU major Indian Oil Corporation was going to devote Rs20,000 crore for brownfield expansion of its refinery in Gujarat.

Commenting on the issue, Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan after visiting the refinery said that Indian Oil Corporation’s Gujarat Refinery had been asked to jump directly from BS IV to the more strict BS VI norms for petrol and diesel, so that cleaner transport fuels became accessible sooner to bring down vehicular emissions.'

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TOP CORPORATE NEWS- 7 Apr 2016

BHEL gains on better than expected Q4FY16 performance

Shares of BHEL gained over 5% to on NSE in an otherwise weak market after announcing its provisional results which came better than expected performance in Q4FY16.BHEL reported Rs398 crore profit in Q4FY16 which was above our as well as street estimates while the turnover was in-line with our estimates.

Tata Motors JLR March 2016 retail sales grow 30% YoY

JLR global retail sales for March 2016 came in at a record high of 75,303 units up 29% YoY and were ahead of our estimates.Jaguar sales nos were up record 62% YoY on the back of sustained sales momentum for XE (6,521 vehicles) and the all-new XF (5,331 vehicles). Jaguar recorded significant year-on-year growth across all five of its key regions, with Europe excelling, up 151%. Growth.

Hindalco: Novelis in talks with banks on $5.3 billion refinancing

Hindalco: As per media news, Novelis said to be in talks with banks on $5.3 billion refinancing.The loans the Atlanta-based unit of Hindalco Industries is seeking to refinance are currently due by 2017. Hindalco Industries Ltd may initially seek to refinance as much as $3.5 billion of debt.

HDFC to make additional one-time provision of Rs450 crore in Q4

HDFC is set to make additional one-time provision of Rs450 crore in Q4 (Jan-Mar qtr); it also will account for Rs1, 705 crore on stake sa in its life insurance subsidiary, HDFC Standard Life.

Axis Bank takes over Jaypee's Nirman Sadan against Rs700 cr debt

Axis Bank takes over Jaypee's Nirman Sadan against Rs700 cr debt – Positive in terms of some recovery.Jaypee Group's headquarter in Noida - Nirman Sadan, has been taken over by Axis Bank against Rs700 crore owed by the company.

With this deal, Jaypee's exposure to Axis Bank, which stood at around Rs1500 crore, has been reduced to half.

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TOP CORPORATE NEWS- 6 Apr 2016

Tata Motors launches Tiago hatchback, Positive for Company

India's leading automobile company Tata Motors launched the most anticipated hatchback, Tata Tiago for an aggressive base price of Rs 3.20 lakh (ex showroom, New Delhi).Tiago hatchback is likely to compete with Maruti Suzuki Celerio, Honda Brio, Chevrolet Beat and Hyundai Grand i10 in the market.

Blue Star enters water purifier biz; eyes 15% market share

After enjoying a huge market share in air-conditioning (AC) and refrigeration segment, Blue Star   has now forayed into water purifier business, says B Thiagarajan, Joint MD of the company. Company will offer residential water purifiers for the first 6 months, and eventually enter commercial water purifier.

Hindustan Zinc shares plunge 14%, trades ex-dividend

Board of directors of the company, on March 30, declared special golden jubilee dividend of Rs 24 per share for the financial year 2015-16. Vedanta Group Company had fixed April 07 as record date for payment of second interim dividend.Shares of Hindustan Zinc   fell 14 percent intraday Wednesday as the stock adjusted for special dividend.

LIC likely to e-auction Unitech's mortgaged land

Life Insurance Corporation (LIC) is all ready to auction Unitech   ’s mortgaged asset to recover outstanding dues of Rs 184 crore, sources tell CNBC-TV18. LIC will e-auction Unitech's 14 lakh square meter of land in Noida on May 6. The reserve price for the auction has been set at Rs 2,660 crore.

Ashoka Buildcon shares tank 20% on ED & I-T raid at head office

Ashoka Buildcon   shares are locked in 20 percent lower circuit at Rs 136 (a 52-week low) amid high volumes on Wednesday. Media reports indicated that Enforcement Directorate (ED) and Income Tax (I-T) department have conducted joint searches at the company's head office in Nashik, Maharashtra. There were pending sell orders of 81,818 shares, with no buyers available.

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RBI cuts Repo Rate by 25 bps

RBI cuts Repo Rate by 25 bps

The Central Bank has cut the repo rate by 25 bps. RBI has also kept the CRR unchanged at 4%

RBI Cuts repo rate by 25 bps to 6.50%.

RBI Keeps CRR unchanged at 4%.

Liquidity conditions stressed by Govt's cash Accumulation.

Expect CPI Inflation to remain around 5% in 2016-17.

Expect economy to grow by 7.6% in FY17.

Petrol price hiked by Rs2.19 per litre, Diesel by 98 paise a litre

There is another hike in petrol price as now a litre costs Rs61.87 for a litre. The increase has been of Rs2.19. While diesel too has seen an upward movement in price by 98 paise to Rs49.31 for a litre (both prices in New Delhi). This has been a second consecutive hike in petrol and diesel prices in last 15 days. The total hike has been of Rs3.09 for petrol and Rs1.90 for diesel.

Aurobindo gets USFDA nod for anti-infective drug

Aurobindo Pharma has announced that the product is expected to be launched in Q2 September 2016. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Polymyxin B for Injection USP, 5 lakh units/vial of Eurohealth International Sarl.

Hero Motocorp March 2016 sales grow 14% YoY

Hero Motocorp March 2016 sales grow 14% yoy on low base; marginally ahead of estimates.Hero Motocorp sales in the month of March 2016 grew 14% yoy to 606,542 units on low base of the corresponding month last year. The sales were marginally ahead of our estimates of 580,000 units.

Adani receives Tamil Nadu Government nod to buy Kattupalli port

As per media reports, Adani Ports has received Tamil Nadu Government nod to buy Kattupalli port from L&T- Positive for L&T.

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