DHFL, NIIT IFBI and NIIT University enters into tripartite MoU

The program will offer graduates in Tier-II and Tier-III cities.

DHFL, NIIT IFBI and NIIT University enter into a tripartite MoU to offer one-year Post Graduate Program in Financial Services.

The program will offer graduates in Tier-II and Tier-III cities.

Shares of NIIT Ltd surged 5% at Rs. 39.

Havells India Q4 PAT at Rs. 122 crore; sales up 3.1%

Total Income has increased from Rs. 1,3240.50 million for the quarter ended March 31, 2014 to Rs. 1,3617.10 million for the quarter ended March 31, 2015. 

Havells India Ltd has announced the following results for the quarter & year ended March 31, 2015:

The Audited results for the Quarter ended March 31, 2015

The Company has posted a net profit of Rs. 1218.50 million for the quarter ended March 31, 2015 as compared to Rs. 1369.20 million for the quarter ended March 31, 2014. Total Income has increased from Rs. 13240.50 million for the quarter ended March 31, 2014 to Rs. 13617.10 million for the quarter ended March 31, 2015.

The Audited results for the Year ended March 31, 2015

The Company has posted a net profit of Rs. 4649.40 million for the year ended March 31, 2015 as compared to Rs. 4786.90 million for the year ended March 31, 2014. Total Income has increased from Rs. 47553.40 million for the year ended March 31, 2014 to Rs. 52829.50 million for the year ended March 31, 2015.

The Consolidated Results are as follows:

The Audited Consolidated results for the Year ended March 31, 2015

The Group has posted a net profit after taxes and minority interest of Rs. 3854.20 million for the year ended March 31, 2015 as compared to Rs. 4463.30 million for the year ended March 31, 2014. Total Income has increased from Rs. 82270.50 million for the year ended March 31, 2014 to Rs. 86198.90 million for the year ended March 31, 2015.

The company  has recommended a Final Dividend @ Rs. 3 per equity share of Re. 1/- each for the financial year 2014-15.

The Dividend, if approved by the shareholders in the forthcoming Annual General Meeting of the Company, shall be paid/ dispatched to the shareholders on or before 30 days of its declaration.

Cipla to decide on family agreement in 'due course': Reports

Cipla's major promoter had sought an 'informal guidance' from SEBI on whether the proposed voting agreement among his family members would trigger an open offer. 

After receiving approval from SEBI, promoters of Cipla will decide on their proposed family pact in "due course", wherein the entire Hamied family will vote as a single unit, according to a media report.

Cipla's major promoter Yusuf Hamied had sought an 'informal guidance' from SEBI on whether the proposed voting agreement among his family members would trigger an open offer.

The SEBI has opined that the agreement would qualify for exemption from open offer requirement under takeover norms. 

SEBI to explore social media to promote financial education

In the SMS space, SEBI is specially targeting the schemes where investors are promised doubling of their investments within a few months 

In order to spread financial education, Securities and Exchange Board of India (SEBI) has decided to track social media, internet and other mobile platforms, according to a media report.

The SEBI is already present on platforms such as TV, radio and print newspapers for investor education and awareness programmes.

The regulator has also carried out a number of campaigns in various languages including English, Hindi and regional languages spoken across India.

SEBI is now planning to explore various other mediums such as outdoor media, advertising and social media in the current fiscal 2015-16, to spread investor awareness.

In the SMS space, SEBI is specially targeting the schemes where investors are promised doubling of their investments within a few months, the media report added.

Besides, SEBI is continuing its investor education and awareness programmes through newspapers. 

Fedders Lloyd zooms on Q3 performance

The company recorded a net profit of Rs. 15.15 crore for Q3FY15, as against Rs. 13.43 crore in Q3FY14. 

Fedders Lloyd Corporation is trading on a gung-ho note on reporting 12.8 percent growth in Q3 net profit on year-on-year basis.

The company recorded a net profit of Rs. 15.15 crore for Q3FY15, as against Rs. 13.43 crore in Q3FY14. Total income also rose by 19.5 percent to Rs. 374 crore from Rs. 313 crore for the above mentioned period.

The stock so far has zoomed 15 percent to a high at Rs. 82 and is now up 11.2 percent at Rs. 79.35.

The BSE counter has seen 2.5-times jump in volume with trades of around 70,000 shares, when compared with its two-week daily average volume of 28,000 shares.

Meanwhile, the Sensex has soared 362 points at 27,467. 

Govt introduces Land Ordinance Bill in Lok Sabha

The Opposition Parties in the lower house opposed the introduction of Land Bill in Lok Sabha

The Modi government introduced the Land Ordinance Bill in Lok Sabha today, according to a report published on TV news-channel.

The Opposition Parties in the lower house opposed the introduction of Land Bill in Lok Sabha, the report added.

The Congress party in Lok Sabha highlighted that it won't support the Land Bill in current shape. 

Nifty reclaims 8,300

All the Sectoral indices are trading on a positive note. The CNX PSU Bank is the top gainer - up 3.4 percent mainly led by Bank of Baroda

The market has extended earlier gains and is now trading at day's high on the back of buoyant buying across all sectors - mainly PSU bank and metal sectors.

The BSE Sensex so far has hit a high at 27,487 and is now up 395 points at 27,501.

Similarly, the NSE Nifty has jumped to a high at 8,301 and is now up 113 points at 8,304.

All the Sectoral indices are trading on a positive note. The CNX PSU Bank is the top gainer - up 3.4 percent mainly led by Bank of Baroda.

Among public sector banks, Bank of Baroda has zoomed 9.5 percent at Rs. 159 on showing improvement in asset quality numbers. The bank's gross NPA's has improved to 3.72 percent from 3.85 percent (QoQ).

Oriental Bank of Commerce, Syndicate Bank, Bank of India and SBI have jumped over 3 percent each.

IDBI Bank, Canara Bank and Allahabad Bank have surged over 2.5 percent each.

The CNX Metal index has rallied over 2.5 percent on the back of hopes of rising demand after People Bank of China cut rates by 25 basis points for the third time since November 2014.

Among Metal space, Vedanta has soared 4.3 percent at Rs. 227. Hindalco and SAIL have spurted over 3 percent each at Rs. 144 and Rs. 69.75, respectively.

Coal India, Tata Sponge, Jindal Saw and Bhushan Steel have jumped over 2 percent each 

Metal stocks gain as China announces cut in interest rates

The BSE Metal India has gained 2.66% to 10,217 on expectations of rise in demand for commodities after China announced cut in interest rates 

The S&P BSE Metal Index is among the sectoral gainers in early trade on BSE.

At 10:40AM, the BSE Metal India has gained 2.66% to 10,217 on expectations of rise in demand for commodities after China announced cut in interest rates.

Hindalco (up 3.45%), JSW Steel (up 3.04%), Hindustan Copper (up 1.77%), Vedanta (up 3.92%) and SAIL (up 3.7%) were among the top index gainers.

The benchmark BSE Sensex is up 1.03% to 27,383.34.

The People’s Bank of China on Sunday has cut the benchmark lending and deposit rates by 0.25 percentage point. This is the third time in the past six months that China has cut interest rates.

The central bank said Sunday it would shave a quarter of a percentage point off benchmark lending and deposit rates, effective Monday.

The benchmark interest rate is cut by 25 basis points to 5.1%. The one-year deposit rate will be reduced by the same amount to 2.25%.

“Currently, the pace of economic restructuring is quickening and the fluctuation of external demand is relatively big,” the PBOC said in a statement. "China’s economy is still facing relatively big downward pressure.” 

APL Apollo Tubes board approves proposal for amalgamation of Lloyd Line Pipes

The board Accepted the resignation of Mr. Aniq Husain, an Independent Director.

APL Apollo Tubes Limited has announced that the Board of Directors in their meeting held on May 9, 2015, approved the proposal for Amalgamation of M/s Lloyd Line Pipes Limited with the Company, in terms of the provisions of Sections 391 to 394 and other applicable provisions of the Companies Act, 1956 (applicable as on date) or any corresponding provisions of the Companies Act, 2013. 

The Board had earlier in September 2013, approved the Merger of the said companies, however, due to technical difficulties the same could not be pursued. 

The board Accepted the resignation of Mr. Aniq Husain, an Independent Director.

Sensex, Nifty remain strong

The broader market is also trading on a firm note, the BSE Mid-cap and Small-cap indices have spurted a percent each at 10,340 and 10,935, respectively. The Bankex, IT, Capital Goods and Power indices are the other notable gainers. 

The key benchmark indices, the Sensex and the NSE Nifty have moved from strength-to-strength, on the back of strong rally in select index heavy-weights like - metal, realty, pharma, auto and bank.

The BSE 30-shares and the NSE 50-shares indices have rallied to a fresh intra-day high at 27,379 and 8,269, respectively.

The BSE Sensex is now quoted at 27,384 - up 278 points and the NSE Nifty is quoted at 8,268 - up 77 points.

The broader market is also trading on a firm note, the BSE Mid-cap and Small-cap indices have spurted a percent each at 10,340 and 10,935, respectively.

Among sectors, the BSE Metal index is the major gainer - up almost 2 percent at 10,145. The Auto, Healthcare and Realty indices have jumped over a percent each.

The Bankex, IT, Capital Goods and Power indices are the other notable gainers.

On the other hand, the Consumer Durables and FMCG indices have bucked the trend, the indices are down 0.2-0.3 percent each at 7,734 and 9,928, respectively.

The breadth remains solid on the BSE - out of 1,959 stocks traded 1,371 stocks are advancing, while only 506 stocks are declining.

All Metal shares are trading green - Vedanta is the top gainer - up almost 4 percent at Rs. 226. Hindalco and SAIL have surged over 3 percent each at Rs. 143 and Rs. 69.70, respectively.

Tata Steel and JSW Steel jumped nearly 3 percent each at Rs. 376 and Rs. 914, respectively.

Jindal Steel, Hindustan Zinc, Coal India and National Aluminium.

HDFC stands 7th on the list of world's 10 biggest consumer finance firms

HDFC is followed by CIT Group of US at eighth position, Taiwan's Hua Nan Financial at 9th and China's Franshion Properties is at the 10th place 

Mortgage lender HDFC is ranked seventh on the list of world's 10 biggest consumer financial services firms after American Express, Visa and Mastercard.

HDFC is ranked 7th on the list, compiled by business magazine Forbes, where American Express is placed on the top, followed by Capital One Financial, Visa, Discover Financial Services and Orix in the top-five. Mastercard is ranked sixth.

HDFC is followed by CIT Group of US at eighth position, Taiwan's Hua Nan Financial at 9th and China's Franshion Properties is at the 10th place.

The list is part of Forbes' annual compilation of 2,000 biggest and most powerful companies globally, which includes a total of 56 companies from India across various sectors.

In the overall list, HDFC is ranked 485th, while Mukesh Ambani-led Reliance Industries leads the pack of the Indian companies at 142nd overall position.

SAIL jumps on mega capex plans

According to media reports, the state-owned steel maker has planned an investment of Rs 1,50,000 crore till 2025 to ramp up steel production from 24 million tonnes to 50 million tonnes.

SAIL has surged 3.5 percent to Rs. 69.90 on the back of mega capacity expansion plans of the company

According to media reports, the state-owned steel maker has planned an investment of Rs 1,50,000 crore till 2025 to ramp up steel production from 24 million tonnes to 50 million tonnes.

The stock is now u over 2 percent at Rs. 68.95. The counter has seen trades of around 59,000 shares so far in early deals.

Meanwhile, the Sensex has surged 168 points to 27,273.

Canara Bank, Oriental Bank cut lending rates

OBC has revised downward its base rate to 10 per cent from 10.25 per cent from May 15 

Canara Bank and Oriental Bank of Commerce on Friday have cut base rates to 10 per cent.

"The bank has reduced the base rate or minimum lending by 0.20 per cent to 10 per cent for loans and advances with effect from May 11," Canara Bank said in a statement.

OBC has revised downward its base rate to 10 per cent from 10.25 per cent from May 15. 

OBC has also reduced the interest rate on fixed deposit by up to 0.25 per cent on select maturities.

Titan stock down 2%

S. Ravi Kant, currently CEO of the Eyewear Division will take over as the CEO of the Watches & Accessories Division from July 01, 2015.

Titan stock was down 2% at Rs. 348.

The stock has hit a high of Rs. 354 and a low of Rs. 347.

The company has announced that H.G. Raghunath, CEO of the Watches & Accessories Division retires from the services of the Company on June 30, 2015. Following the Company's philosophy of growing its own timber, his successor is from within the Company. Mr. S. Ravi Kant, currently CEO of the Eyewear Division will take over as the CEO of the Watches & Accessories Division from July 01, 2015. 

Mr. Ronnie Talati, currently Chief Marketing Officer of the Watches & Accessories Division will take over from Mr. Ravi Kant as CEO of the Eyewear Division from July 01, 2015.

Atul Auto Q4 net profit at Rs. 8.6 crore

The company's Total Income stood at Rs. 122.5 crore Vs Rs. 112.6 crore (YoY). 

Atul Auto Ltd has announced the following results for the quarter & year ended March 31, 2015.

The company reported net profit of Rs. 8.6 crore in Q4 FY15 against Rs. 8.4 crore.
During the period under review, the company's Total Income stood at Rs. 122.5 crore Vs Rs. 112.6 crore (YoY).

1. The Board has recommended, subject to approval of Members at the ensuing Annual General Meeting, final dividend of Rs. 2.50/- per equity share of Rs. 5/- each or whereby making total dividend for FY 2014-15 to Rs. 5/- per equity share of Rs. 5/- each (Excluding dividend distribution tax) i.e. 100% on paid-up share capital of the Company.

2. The Board has reappointed  N. J. Chandra as Whole-time Director of the Company and also decided to increase remuneration of Mr. J. J. Chandra, Chairman & Managing Director, Mr. M. J. Patel, Whole-time Director and CFO and Mr. N. J. Chandra, Whole-time Director, subject to approval of Members in the ensuing Annual General Meeting. 

Federal Bank to consider bonus issue

The issue of bonus shares is subject to the approval of the shareholders at the Annual General Meeting 

Federal Bank Ltd has informed BSE that a meeting of the Board of Directors of the Bank will be held on May 16, 2015, inter-alia, to consider the issue of Bonus shares to the shareholders of the Bank, subject to the approval of the shareholders at the Annual General Meeting.