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Tuesday 31 May 2016

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TOP CORPORATE NEWS- 31 May 2016

Equity Tips
Sun Pharma drops on lower than expected Q4FY16 profit
Shares of Sun Pharma dropped 6% to Rs760 on NSE as the Q4FY16 profit was lower than expectation due to forex loss (in Taro); Buyback expectations could support valuations in the near term.
India sales at Rs1, 807 crores, up by 17% over Q4 last year.
US finished dosage sales at US$ 580 million up by 19% over Q4 last year. US sales include the benefit of the 180-day exclusivity for gGleevec which commenced from 01-Feb-2016.
Emerging Markets sales at US$ 124 million. Rest of World sales at US$ 79 million.
R&D investments at Rs711 crore, 9.6% of net sales
EBITDA at Rs2, 300 crore, resulting EBITDA margin of 31%.
Net profit for the quarter was at Rs1, 714 crore.

Bata India Q4: Net Profit -52.2% at Rs27.9 Cr
Bata India Q4: Net Profit -52.2% at Rs 27.9 Cr Vs Rs 58.4 Cr (YoY)
Total Income +10.9% at Rs 545.7 Cr Vs Rs 491.3 Cr
EBITDA +17.9% At Rs 55.3 Cr vs Rs 46.9 Cr (YoY)
EBITDA Margin At 10.2% Vs 9.5% (YoY)

L&T's arm enters into agreement with Parsons
Leading Engineering & Construction Company, L&T Hydrocarbon Engineering (LTHE) has announced that it has entered into a teaming agreement with Parsons to provide engineering and design solutions for onshore and offshore projects across the hydrocarbon, fertilizer, chemicals, and modular plant sectors.
LTHEs' broad range of offerings across the hydrocarbon spectrum coupled with Parsons' strong program management capabilities in the Americas will provide a compelling value proposition to our customers.

SAIL Q4: Net Loss at Rs1, 230.9 Cr Vs Profit of Rs334.2 Cr (YoY)
SAIL Q4: Net Loss at Rs1, 230.9 Cr Vs Profit of Rs334.2 Cr (YoY)
EBITDA Loss at Rs 1,123.4 Cr Vs EBITDA Profit Of Rs 10,914 Cr (YoY)
Total Income -1.9% at Rs 11,371.7 Cr Vs Rs 11,590.6 Cr (YoY)

GAIL starts drilling 2nd exploratory well at Cambay basin
GAIL (India) Ltd has said that it has started drilling its second exploratory well as an operator in its New Exploration Licensing Policy – IX block at the Cambay Basin.
The well is situated in the Nabhoi village in Tarapur Tehsil of Anand District in Gujarat. The ‘spudding’ operations started on May 27.
The first well was spud in this block on March 27. Drilling of a target depth of 2,200 meters of this well is scheduled to be completed in 30 to 35 days.

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Friday 27 May 2016

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TOP CORPORATE NEWS - 27 May 2016

Nifty Futures Tips
IOC Q4 Net Profit comes at Rs1,236 Cr
IOC Q4 Net Profit comes at Rs1, 236 Cr
Total Income at Rs.80, 449.7 Cr
EBITDA at Rs.10, 044 Cr
EBITDA Margin At 5%
GRM At $3/bbl Vs $6/bbl (QoQ)

Canara Bank Q4: Net Loss at Rs3,905 Cr
Canara Bank Q4: Net Loss at Rs3, 905 Cr
Gross NPA At 9.4% Vs 5.84% (QoQ)
Gross NPA +59.7% at Rs.31, 638 Cr Vs Rs.19, 813 Cr (QoQ)
Net NPA At 6.42% Vs 3.90% (QoQ)
Tax Write-back At Rs.779.5 Cr Vs Expense of Rs.110 Cr (YoY)
Provisions at Rs.6, 331 Cr Vs Rs.1, 429 Cr (QoQ)
NII -4.5% at Rs.2, 374 Cr Vs Rs.2, 486 Cr (YoY)

SBI Q4FY16: Mixed Bag performance, Asset quality worsens
State Bank of India Q4FY16 results first cut: Mixed Bag performance
SBI Q4: Net Profit -66.2% At Rs.1,264 Cr Vs Rs.3,742 Cr (YoY)
Gross NPA +34.9% At Rs.98,172 Cr Vs Rs.72,791 Cr (QoQ)
Gross NPA At 6.5% Vs 5.1% (QoQ)
Net NPA At 3.81% Vs 2.89% (QoQ)
Net NPA +38.7% At Rs.55,807 Cr Vs Rs.40,249 Cr (QoQ)
Slippages At Rs.30,312 Cr Vs Rs.20,692 Cr (QoQ)
Provisions For NPA At Rs.12,139.2 Cr Vs Rs.7,644.6 Cr (QoQ)

Lupin gains on receiving EIR for Mandideep facility
Shares of Lupin gained 3% to Rs1507 on NSE on back of reports that the company has got Establishment Inspection Report (EIR) for its Mandideep facility.
This is sentimentally positive for Lupin; stock is up by 3%; USFDA clearance for Goa plant will be key to watch for going forward.

Torrent Pharma in talks to buy Glochem Industries for Rs300 crore
Torrent Pharma in talks to buy Glochem Industries for Rs300 crore – Long term positive for Torrent if deal goes thru
Torrent Pharma is in advanced talks to buy bulk drugs supplier Glochem Industries for about Rs300 crore.
Glochem is a medium-sized company that makes bulk drugs, or active ingredients, which are used as raw material for medicines and has USFDA approved sites in Hyderabad and Vizag where oral bulk actives are manufactured.

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Thursday 26 May 2016

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TOP CORPORATE NEWS- 26 May 2016

Nifty Futures Tips
L&T rallies on stellar Q4FY16 result, ahead of estimate
Shares of Larsen & Toubro rallied around 15% to Rs1480 on NSE post Q4FY16 results which came ahead of estimate and encouraging guidance; PT revised to Rs1,550
Beats the Street with healthy execution and margin expansion:
For Q4FY2016, Larsen & Toubro (L&T) reported a very healthy performance, much ahead of our as well as Street estimate.
The consolidated earnings grew by 22% YoY to Rs2, 405 crore, (14% better than our estimate), backed by a revenue growth of 18% and 178BPS margin expansion YoY.
A very healthy revenue growth was mainly driven by strong growth in infrastructure (up 19%) despite higher base, ~50% growth in power and developmental projects segments each.
Further, with the benefit of lower commodity prices, better execution and favorable job mix the operating profit margin (OPM) expanded by 178BPS YoY to 14.7%.

Engineers India Q4 net profit at Rs70 cr
Engineers India 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 Rs69.91 crore Vs Rs108.86 crore.
Total Income decreased to Rs352.70 crore Vs Rs568.45 crore.

YES Bank gets Cabinet nod to increase FII limit
YES Bank has received Cabinet nod to increase foreign investment limit – Positive for Yes Bank
The Cabinet Committee on Economic Affairs (CCEA) has approved YES Bank’s proposal to increase foreign investment limit to 74.0%, from the existing foreign equity of 41.8%.
The Mode of investment include QIP, ADR, GDR, QFI, and FPI under the Portfolio Investment Scheme (PIS) by acquisition of permissible securities on stock.

Dr Reddy’s buys 6 OTC brands from Ducere Pharma
Dr Reddy’s Laboratories buys 6 OTC brands from Ducere Pharma – Long term Positive for Dr Reddy.
Dr Reddy’s Laboratories Limited (DRL), has entered the branded consumer health arena with the acquisition of six over-the-counter (OTC) brands from Ducere Pharma LLC, which manufactures, markets and distributes more than eight drugs in the US.
The brands, acquired for an undisclosed amount, include Doan’s, Bufferin, Nupercainal ointment, Cruex nail gel, comtrex and myoflex, which are indicated for the treatment of cough-and-cold, pain and dermatology issues.

India Cements Q4 net profit at Rs51 cr
India Cements has announced the following audited 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 Rs51.21 crore VS Rs36.60 crore.
Total Income is Rs1154.14 crore Vs Rs1043.10 crore.

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Wednesday 25 May 2016

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TOP CORPORATE NEWS- 25 May 2016

Nifty Futures Tips

Ashok Leyland Q4FY2016: Operating results in line with estimates
Ashok Leyland Q4FY2016 results: Operating results in line with estimates; dimunition in value of investments dents profits severely
Ashok Leyland 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 after tax of Rs77.02 crore Vs Rs229.97 crore.
Total Income has increased to Rs5987.23 crore Vs Rs4542.95 crore.

Cipla cracks on weak quarterly results
Shares of Cipla cracked 6% to Rs465 on weak results on account of one-offs; maintain Hold with unchanged PT of Rs581
Result synopsis: Sales for the quarter grew by 5.6% to Rs3, 266.5 crores; operating profit declined by 57% to Rs219 crore; operating profit margin (OPM) declined by 971BPS to 6.7% and profit for the quarter declined by 69% to Rs81 crore.
The domestic sales grew by 15.9% to Rs1, 258 crore; export formulation grew by 3% to Rs1, 744 crore and active pharmaceutical ingredient (API) exports remained flat at Rs204 crore.

Tech Mahindra rallies as Q4FY16 profit beats street
Shares of Tech Mahindra rallied 11% to Rs532 on NSE post Q4FY16 results led by in line performance, profit beat led by forex gain and lower tax rate.
Revenues for the quarter was up by 1.3% QoQ on CC term and 0.8% on a reported basis to $1,022.6 mn (in line with expectations).
The growth was led by enterprise side of business especially BFSI vertical, which was higher by 8.7% qoq on CC basis, while Telecom growth remain muted on sequential basis.

Bajaj Auto Q4FY2016 inline; lower other income lead to Net profit miss
Bajaj Auto Q4FY2016 results: Operationally inline; lower other income lead to Net profit miss
Bajaj Auto Ltd has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:
Standalone
For the Quarter ended March 31, 2016 (YoY)
Net Profit rose by 29.18% to Rs803.06 crore Vs Rs621.62 crore.
Total Income increased by 13.11% to Rs5535.56 crore Vs Rs4893.61 crore.

Cadila gets USFDA nod for Variconazole tablets
Cadila gets USFDA nod for Variconazole tablets; an anti-fungal drug; to be manufactured at Baddi facility – Sentimentally positive for Cadila.

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Monday 23 May 2016

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MCX rallies as RBI allows overseas investors to buy stake

Nifty Futures tips
Dish TV Q4 consolidated net profit at Rs483 cr
Dish TV India Ltd has announced the following audited 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 Rs116.42 crore Vs Rs35.01 crore.
Total Income is at Rs536.42 crore Vs Rs743.59 crore.

Britannia Industries slumps on mixed Q4FY2016 performance
Shares of Britannia Industries tanked over 8% to Rs2696 on NSE post Q4FY2016 consolidated results which saw mixed performance; revenue growth slide down to single digits but better operational efficiencies drove margins
Britannia Industries total revenues grew by 7.2% to Rs2211.4crore; volume growth must have slide down to high single digit.

ITC rallies as Cigarette business delivers better Q4 performance
Shares of FMCG major ITC rallied over 5% to Rs347 on NSE as Cigarette business delivered better performance; maintain Buy (TP – Rs375)
Better operating performance; higher tax rate restricted PAT growth:
For Q4FY2016, ITC’s net revenues grew by 10.7% YoY to Rs10, 168.7 crore. Its core cigarette business revenues grew by 10%, while non-cigarette FMCG business revenues grew by just 5.4% during the quarter.
The gross profit margin (GPM) improved by 72BPS YoY to 60.9% and the operating profit margin (OPM) improved by 210BPS YoY to 36.3% (better than our expectation).
The operating profit grew by 17.5% YoY to Rs3, 687.1 crore. However, higher incidence of tax led to 10% Y-o-Y growth in PAT to Rs2, 495.2 crore in Q4FY2016.

CESC becomes distributor for Kota and Bharatpur
CESC has been appointed by Jaipur Vidyut Vitaran Nigam Limited as distribution franchisees for the cities of Kota and Bharatpur, Rajasthan for distribution and supply of electricity for a term of twenty years each.

MCX rallies as RBI allows overseas investors to buy stake
Shares of MCX surged 4% to Rs916.95 on NSE in an otherwise weak market on reports that the RBI has allowed overseas investors to buy stake, removed from FII Investment caution limit.
The Reserve Bank has allowed overseas investors to buy equity shares in Multi Commodity Exchange (MCX) after foreign shareholding in the bourse fell below the prescribed threshold caution limit.

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Friday 20 May 2016

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TOP CORPORATE NEWS- 20 May 2016


IRB Infra Q4 consolidated net profit at Rs151 cr
IRB Infrastructure Developers 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 Rs94.37 crore Vs Rs12.33 crore (YoY).
Total Income increased to Rs972.66 crore Vs Rs529.96 crore (YoY).

Lupin cracks as FDA overhang continues
Shares of Lupin cracked 9% to Rs1505 on NSE despite strong outlook as the FDA overhang continues; retain Hold with PT revised to Rs1,850
Strong operating performance:
For Q4FY2016, Lupin’s sales grew by 35.8% to Rs4,181.2 crore; operating profit improved by 73.2% to Rs1,367.4 crore and profit grew of 47.5% to Rs807 crore.
The strong set of numbers was aided by two months’ exclusivity sales from gGlumetza coupled with price hikes in Fortamet.
Profit was affected (compared with growth in operating profit) due to higher tax rate of 33.6% in Q4FY2016 against 19.5% in Q4FY2015. Also, the interest cost has gone up due to increase in debt (taken for funding Gavis acquisition).

Pidilite Inds Q4 consolidated net profit up 89% (YoY)
Pidilite Industries Ltd has announced the Q4 & FY16 audited following 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 Rs115.04 crore Vs Rs77.22 crore.
Total Income increased to Rs1101.10 crore Vs Rs975.93 crore.

Allcargo Logistics rallies on plans to buy majority stake in CCI
Shares of Allcargo Logistics surged 5.4% to Rs153.10 on BSE on back of reports that the company has plans to buy majority stake in CCI for Rs130 crore – Positive for Allcargo Logistics.
The deal will lead to the formation of a new entity in which Allcargo will hold 62%, while the rest is held by CCI.

Force Motors to invest Rs300 cr in FY17 for expansion
Force motors has announced an expansion plan for FY17 with an investment of Rs300 Cr towards new facilities and product enhancement.
The company which supplies engines to marque luxury car maker like BMW and Mercedes is planning to set up a new plant in Chakan (Pune) for manufacturing engines for Mercedes Benz with the investment of Rs150 crore.

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Thursday 19 May 2016

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Castrol India drops as promoter divests 7% stake

Nifty Futures Tips
CESC Q4FY2016: In line numbers; earnings remain flat
CESC Q4FY2016 result first cut: In line numbers; earnings remained flat at Rs248 crore in this quarter
CESC reported flattish earnings in line with our estimate; PAT was at Rs 248 crore in Q4FY2016 Vs Rs244 Cr (YoY)
EBITDA Margin At 32.2%
Total Income At Rs.1,479 Cr
The revenue was up by 5% YoY; investor should take a note that this quarter result includes one off for period tariff adjustment like that of in Q4FY2015.

Lupin Q4 beats estimates
Lupin Ltd has announced the following audited 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 Rs924.93 crore Vs Rs407.70 crore.
Total Income has increased from Rs2198.12 crore Vs Rs3295.03 crore.

Castrol India drops as promoter divests 7% stake
Shares of Castrol India dropped over 3% to Rs373 on NSE on reports that the promoter (BP) is divesting 7% stake in the company viz 34.62 million shares with an upside option of 3.5% stake viz 17.31 million shares in the price range of Rs355-385.25 per share.
The lower price ranged it as a discount of about 8% to the closing price of Rs385.25. Stake sale by promoters is negative for the company.

Indiabulls Housing Finance to raise fund via debentures
Indiabulls Housing Finance said that it will raise Rs50 crore through issue of debentures on private placement basis.
The company proposes to issue 500 Secured Non-Convertible Redeemable Debentures with a face value of Rs10 lakh each aggregating to Rs50 crores plus Greenshoe Option, on Private Placement basis.
The issue will open on May 23 and will also close on the same day.

Torrent Power Q4 consolidated net profit down 85% (YoY)
Torrent Power 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 profit of Rs17.06 crore Vs Rs369.43 crore.
Total Income is Rs2513.70 crore Vs Rs2694.63 crore.

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