Edelweiss Financial Services Q2 net profit up 20.8% at Rs. 95.7 crore

The company’s total income has increased by 37% to Rs. 1,240 crore for the quarter under review from Rs. 905 crore for the corresponding quarter of the previous year.

Edelweiss Financial Services Ltd has announced the following results for the quarter ended September 30, 2015.

The company reported 20.8% rise in its net profit at Rs. 95.7 crore for the quarter ended September 30, 2015 as compared to Rs. 79.2 crore for the same quarter in the previous year.

The company’s total income has increased by 37% to Rs. 1,240 crore  for the quarter under review from Rs. 905 crore for the corresponding quarter of the previous year.

NIIT Tech Q2 net profit at Rs. 411.90 million

Total Income has increased from Rs. 3,204.50 million for the quarter ended September 30, 2014 to Rs. 3,754.30 million for the quarter ended September 30, 2015.

NIIT Tech has announced the following results for the quarter ended September 30, 2015.

The Company has posted a net profit of Rs. 411.90 million for the quarter ended September 30, 2015 as compared to Rs. 581.50 million for the quarter ended September 30, 2014. Total Income has increased from Rs. 3204.50 million for the quarter ended September 30, 2014 to Rs. 3754.30 million for the quarter ended September 30, 2015.

Godfrey Phillips zooms 13% on reports of cigarette price hike

Report says that the companies have raised prices in the wake of the recent VAT hike by Uttar Pradesh and Maharashtra governments.

Shares of cigarette makers surged up to 13% on reports that the companies have raised prices in the wake of the recent VAT hike by Uttar Pradesh and Maharashtra governments. 

Godfrey Phillips stock were higher by 14% at Rs. 804 on reports that company would raise cigarette prices by an average of Rs 12 per pack. 

While ITC stock were lower by 1% at Rs. 344. Report says that the company has hiked prices of all king-size cigarettes. 

TCS partners with Dutch Insurer VIVAT Verzekeringen

TCS will support the life insurance operations of VIVAT Verzekeringen, leveraging its extensive domain experience in servicing insurance companies across Europe, investments in technology tools and Business Process Services.

Tata Consultancy Services (TCS) announced that it has been selected by Dutch insurance firm VIVAT Verzekeringen to help the company deliver greater operational efficiency and enhance customer experience.

TCS will support the life insurance operations of VIVAT Verzekeringen, leveraging its extensive domain experience in servicing insurance companies across Europe, investments in technology tools and Business Process Services. This will enable VIVAT to deliver improved service quality, ensure quicker turnaround times and be better equipped to manage seasonal volume shifts.

Wendy de Ruiter-Lorx, Director - Life Business, Reaal commented: “At Reaal, one of the brands of VIVAT Verzekeringen, we understand that each customer is different; with unique requirements and expectations. We are dedicated to putting our customers at the centre of our business for which we need to be both flexible and robust. We are confident that our partnership with TCS will deliver the business agility and operational efficiency we need to deliver a great experience to all of our customers.”

Amit Kapur, Regional Director and Head, TCS Benelux commented: “Across the insurance sector, digital technologies such as mobile, social, cloud and big data are driving major changes in how customers engage with providers. There is a growing need for organizations to transform their business processes in order to deliver an enhanced customer experience and stay competitive in this new environment. We are pleased to be able to build on our partnership with VIVAT, by leveraging both TCS’ IT as well as Business Process services. This is a significant milestone for TCS in the Dutch life insurance market and we are delighted to be part of this journey.”

TCS has been present in the Netherlands and Benelux region since 1992 and has continuously invested in the market locally to deliver consistent results to its customers. The company was recently ranked first for customer satisfaction in a European-wide survey of service provider performance, conducted by Whitelane Research. TCS was also ranked as the number one Top Employer in the Netherlands in 2014 by the CRF Institute. Everest Group has also recognized TCS as a Leader in the Insurance BPO market.

Mindtree stock rises 3% post Q2 results

The company reported consolidated net profit of Rs. 158.20 crore for the quarter, registering growth of 14.47% qoq and 15.13% yoy. Company’s revenue grew at Rs. 1169.30 crore, registering growth of 19.12% qoq and 31.58% yoy.

Mindtree stock was higher by 3% at Rs. 1439.

The company reported consolidated net profit of Rs. 158.20 crore for the quarter, registering growth of 14.47% qoq and 15.13% yoy. Company’s revenue grew at Rs. 1169.30 crore, registering growth of 19.12% qoq and 31.58% yoy.

The scrip opened at Rs. 1460 and has touched a high and low of Rs. 1475 and Rs. 1415 respectively. So far 673971(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11764.23 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1605 on 24-Sep-2015 and a 52 week low of Rs. 967 on 17-Oct-2014. Last one week high and low of the scrip stood at Rs. 1483.8 and Rs. 1383.45 respectively.

The promoters holding in the company stood at 13.76 % while Institutions and Non-Institutions held 44.58 % and 41.67 % respectively.

The stock is currently trading below its 50 DMA.

VGuard Industries up 2% post Q2 results

The company reported standalone net profit of Rs. 23.06 crore for the quarter, registering growth of 20.35% yoy and (8.34%) qoq. Company’s revenue stood at Rs. 433.40 crore, witnessed growth of 0.49% yoy and (13.19%) qoq.

VGuard Industries stock was higher by 2% at Rs. 948 The company reported standalone net profit of Rs. 23.06 crore for the quarter, registering growth of 20.35% yoy and (8.34%) qoq.  Company’s revenue stood at Rs. 433.40 crore, witnessed growth of 0.49% yoy and (13.19%) qoq.

The scrip opened at Rs. 950 and has touched a high and low of Rs. 960.55 and Rs. 943 respectively. So far 11855(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2798.08 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1197 on 31-Dec-2014 and a 52 week low of Rs. 810 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 957.25 and Rs. 896.55 respectively.

The promoters holding in the company stood at 65.95 % while Institutions and Non-Institutions held 24.21 % and 9.84 % respectively.

The stock is currently trading below its 200 DMA.

V-Guard Inds gains after Q2 earnings

The company reported standalone net profit of Rs. 23.06 crore for the quarter, registering growth of 20.35% yoy and (8.34%) qoq.

Shares of V-Guard Industries were trading higher at Rs.950 on BSE. The company reported standalone net profit of Rs. 23.06 crore for the quarter, registering growth of 20.35% yoy and (8.34%) qoq. Company’s revenue stood at Rs. 433.40 crore, witnessed growth of 0.49% yoy and (13.19%) qoq.

The scrip opened at Rs. 950 and has touched a high and low of Rs. 960.55 and Rs. 943 respectively. So far 10482(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2798.08 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1197 on 31-Dec-2014 and a 52 week low of Rs. 810 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 957.25 and Rs. 896.55 respectively.

The promoters holding in the company stood at 65.95 % while Institutions and Non-Institutions held 24.21 % and 9.84 % respectively.

The stock is currently trading below its 200 DMA.

Reliance Inds up 1% ahead of results

The company is scheduled to announce its September quarter earnings today.

Shares of Reliance Industries were trading higher by 1% at Rs. 911.20 on BSE today. The company is scheduled to announce its September quarter earnings today. The scrip opened at Rs. 905 and has touched a high and low of Rs. 913.25 and Rs. 904 respectively. So far 662768(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 292790.12 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1067 on 23-Jul-2015 and a 52 week low of Rs. 796.75 on 30-Mar-2015. Last one week high and low of the scrip stood at Rs. 910.6 and Rs. 882.1 respectively.

The promoters holding in the company stood at 45.23 % while Institutions and Non-Institutions held 31.71 % and 19.82 % respectively.

The stock is currently trading below its 200 DMA.

IIFL expects Reliance Industries to report a GRM of US$8.8/bbl as compared to US$10.4/bbl reported in Q1 FY16. Petrochemical prices too have seen a correction in line with the crude oil prices but IIFL expects the spreads to remain flattish. Crude oil production from MA-1 field and gas production from KG-D6 field are likely to see flat trends during the quarter on a qoq basis, an IIFL preview note adds

Tata Chemicals forays into spices biz under 'Sampann' brand

The company is launching spices under a newly created umbrella brand Tata Sampann.

Tata Chemicals Ltd. on Thursday announced its entry into the spices business, as part of its strategy to treble revenues from the consumer products business to Rs. 5,000 crore in the next four years.

The company is launching spices under a newly created umbrella brand Tata Sampann.

Barring Tata Salt, all Tata Chemicals' existing products, such as I-Shakti besan (gram flour) and pulses, will now come under the Tata Sampann brand.

Besides 100-gram packs, Tata Sampann is launching single-use sachets of spices (five small sachets of 20gm each in a 100gm packet).

Initially, Tata Chemicals is launching chilli, turmeric and coriander powders and a few mixed spices.

Tata Chemicals has been selling pulses since 2010 under the I-Shakti brand through more than 70,000 retail outlets. The same network will be used for spices and future consumer products.

Rupee opens lower at Rs.64.94/$

The currency touched a high and low of 64.85/$ and 65.07/$ respectively.

Indian Rupee today opened at 64.94/$ lower by 8 paise in early trade on Friday. On macroeconomic side, the dollar fell lowest against the other major currencies, as the previous session's downbeat U.S. economic data continued to weigh on demand for the greenback.  Most Asian currencies closed higher after weak US economic data added to expectations that the Federal Reserve will delay hiking interest rates.  Yesterday, US Labor Department said consumer prices index slipped by 0.2 percent in September after edging down by 0.1 percent in August.

The rupee ended at 64.82/$, higher by 22 paise from its previous close of 65.04/$ on Wednesday. The currency touched a high and low of 64.85/$ and 65.07/$ respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.82 and for Euro stood at 74.50 on October 15, 2015. While, the RBI’s reference rate for the Yen stood at 54.61, the reference rate for the Great Britain Pound (GBP) stood at 100.4124.

Coffee Day Enterprises IPO subscribed 75% on the second day

The portion reserved for qualified institutional buyers (QIBs) was subscribed 1.98 times while the category for non-institutional investors saw 7% subscription, according to NSE data.

The initial public offer of Coffee Day Enterprises, was subscribed 75% on the second day of offer.

The IPO received bids for 1,93,74,885 shares against the total issue size of 2,58,14,198 shares, according to data available with the NSE till 1700 hours. 

The portion reserved for qualified institutional buyers (QIBs) was subscribed 1.98 times while the category for non-institutional investors saw 7% subscription, according to NSE data.

The company has raised over Rs 334 crore from anchor investors. 

The company plans to mop up Rs 1,150 crore through the IPO.

HDFC MF buys further 7.69% stake in MEP Infrastructure

HDFC MF picked up 90 lakh equity shares of MEP Infrastructure at BSE and another 35 lakh shares at the National Stock Exchange (NSE) through block deals, the fund house said in a statement.

HDFC Mutual Fund on Thursday acquired an additional 7.69% stake in toll management company MEP Infrastructure Developers Ltd. through open market transactions.

HDFC MF picked up 90 lakh equity shares of MEP Infrastructure at BSE and another 35 lakh shares at the National Stock Exchange (NSE) through block deals, the fund house said in a statement.

Currently, HDFC MF holds 4.25 per cent stake in MEP Infra.

Apart from HDFC MF, Reliance Mutual Fund and Birla Sunlife Mutual Fund Fund also hold stake in MEP Infra.

MEP Infra shares surged by 9.75 per cent to close at Rs. 56.30 on the BSE.

Rs. 7,000 cr urea subsidy announcement fails to lift fertilizer shares

Despite benchmark indices S&P BSE Sensex and CNX Nifty rose by 0.86% and 0.88% respectively some fertilizer shares dropped 1-4% in the day. However, shares of some fertilizers company gained 0.25-1.75%

The Cabinet Committee on Economic Affairs (CCA) chaired by the Prime Minister Narendra Modi, recently approved a Special Banking Arrangement (SBA) for a loan of Rs.7,000 cr to be given to the fertilizers company as urea subsidy. But, the announcement failed to attract investors as most of the fertilizers shares tumbled in the day.

Despite benchmark indices S&P BSE Sensex and CNX Nifty gaining by 0.86% and 0.88%  respectively some fertilizers shares dropped 0.93-4.69% in the day. However, shares of some fertilizers company gained 0.25-1.75%.

Shares of Dharamsi Morarji crashed by 4.69% to Rs. 63.05 on BSE. Shares of Shiva Global crashed by a whopping 5.7% and closed the day at Rs. 19.85, Bharat Agri closed 2.33% lower at Rs. 90.15, Madras Fertilizers dropped 2.25% to Rs. 13.01 and Coromandal International dipped by 2.09% to Rs. 190.15.

Among notable gainers today, Zuari Agro Chem rose by 1.75% to Rs. 162.80, JK Agri surged by 1.16% to Rs. 195.20 and Deepak Fertilizers soared by 1.10% to Rs. 132.80.

Is is to be noted that in past three and a half months, shares of 12 out of 19 fertilizers companies have crashed up to 6-36%, whereas shares of 7 companies have risen 4-122%.

Among the losers, Mangalore Chem (down 35.92%), Bharat Agri (down31%), Coromandal International (down 23.34%), Shiva Global (down 21%), Zuari Agro Chem (down 16.87%), Madras Fertilizers (down 12.78%) and Basant Agro is down by 12.69%.

Offering positive returns, Dharamsi Morarji is up 122%, Rama Phosphates (up 27.54%), Gloster Ltd (up 26.58%), National Fertilizers (up 3.65%), GSFC (up 3.58%), Chambal Fertilizers (up 3.15%) and shares of GNFC are up by 3.13% since June 30, 2015.

A consortium of Public Sector Banks led by State Bank of India (SBI) and Punjab National Bank (PNB) has been formed for settlement of outstanding indigenous urea subsidy bills to the tune of Rs. 7,000 cr to the fertilizer companies in 2014-15.

Results to watch out for: Reliance Industries, NIIT Tech

The results which are expected for today are Reliance Industries, NIIT Technologies, R.S. Software,Tata Metaliks.

The results which are expected for today are Reliance Industries, NIIT Technologies, R.S. Software,Tata Metaliks, Tata Sponge Iron, Edelweiss Financial Services, Amal, Ashirwad Steels & Industries, Agro Tech Foods, Danlaw Technologies India, International Combustion (India), Menon Bearings, Savant Infocomm, Swaraj Automotives, Swaraj Engines, Trinity League India.

20 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Mindtree: The IT Company reported consolidated net profit of Rs. 158.20 crore for the quarter, registering growth of 14.47% qoq and 15.13% yoy. Company’s revenue grew at Rs. 1169.30 crore, registering growth of 19.12% qoq and 31.58% yoy.

Karur Vysya Bank: The bank has announced it Q2 results on standalone basis, the bank’s net profit for the quarter stood at Rs. 142.22 crore, registering growth of 57.15% YoY. The bank’s Net Interest Income (NII) stood at Rs. 437.42 crore, up by 29.64% yoy.

Welspun India on Thursday announced foray into e-commerce with its new online retail store "Shopwelspun.in", and targets revenue of US$50 million by 2020.

Bank of Maharashtra: The bank has allotted over 10.52 crore equity shares to the government valued at Rs 393.99 crore in exchange of infusion of capital into the bank.

Parsvnath Developers Limited: The real-estate company launches “Parsvnath Aakanksha” (2/3 BHK Floors) in a fully functional, integrated township ‘Parsvnath City, Jodhpur’.

Jay Bharat Maruti: The company reported standalone net profit of Rs. 9.94 crore for the quarter, registering growth of (18.79%) yoy and 24.71% qoq. Company’s revenue stood at Rs. 329.47 crore, witnessed growth of (4.63%) yoy and 2.52% qoq.

VGuard Industries : The electrical appliances manufacturer reported standalone net profit of Rs. 23.06 crore for the quarter, registering growth of 20.35% yoy and (8.34%) qoq.  Company’s revenue stood at Rs. 433.40 crore, witnessed growth of 0.49% yoy and (13.19%) qoq.

IOC: The oil company has increased diesel prices by 0.95/lt. It stated that they will continue to monitor prices in International Oil Market.

CCL Products (India): The company reported consolidated net profit of Rs. 29.25 crore for the quarter, registering growth of (3.17%) yoy and 11.94% qoq. Company’s revenue stood at Rs. 235.04 crore, witnessed growth of (4.93%) yoy and 7.01% qoq.

Cyient: The company reported consolidated net profit of Rs. 98.52 crore for the quarter, registering growth of 31.65% qoq and 9.24% yoy. Company’s revenue grew at Rs. 771.64 crore, registering growth of 6.24% qoq and 14.76% yoy.

Jet Airways: The airline company will step up services on domestic routes with the introduction of four new city pairs and 19 additional frequencies as part of its winter schedule to meet the increased demand on key sectors.

LIC Housing Finance: The company reported standalone net profit of Rs. 411.73 crore for the quarter, registering growth of 20.61% yoy and 7.74% qoq

Punj Llyod: The company bagged Rs. 367 Crore Paradip Refinery EPCC Package from Indian Oil Corporation. The scope of work for the project involves the Residual Basic Engineering including HAZOP study, detailed engineering, procurement, construction and commissioning of the Coker LPG Treating Unit and offsite and utility facility.

NIIT: The company has been awarded a multi-year contract to provide managed training services to Citi in the Europe Middle East and Africa region. With this new partnership, NIIT’s Corporate Learning Group will source and manage third party training procured by Citi across EMEA.

Hathway Cable : The Board of Directors have given its in-principle approval to demerge, transfer and vest the Company’s entire broadband business into its wholly owned subsidiary, Hathway Broadband Private Limited, subject to requisite approvals from the Shareholders, Creditors, High Court(s), Department of Telecommunications, Stock Exchanges, Securities and Exchange Board of India and other applicable regulatory/ governmental authorities.

Hinduja Global Solutions Limited: HGS recently launched the “Technology Enabled Learning Program” (TELP) at the Ashok Leyland School in Hosur, Tamil Nadu. This initiative of HGS in partnership with the Ashok Leyland Trust is said to benefit over 1,600 students at the school by leveraging a technology integrated learning model to enhance their learning ability.

SpiceJet, : The airline company has announced its very first red-eye flights within the domestic network on the Delhi – Bangalore route along with a new flight on Delhi – Nanded route, both commencing its operations on 2nd November 2015.


Aurobindo Pharma: The company has announced that it has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Memantine Hydrochloride Tablets, 5mg and 10mg (ANDA 203175) for treatment of Alzheimer.

DB Corp: The company recorded net profit declined by 13% at Rs. 59.1 crore for the quarter under review as compared to Rs. 68.1 crore for the quarter ended September 30, 2014.

Tribhovandas Bhimji Zaveri : TBZ announced its e-marketplace venture with Snapdeal to sell its range of diamond jewellery and gold coins.

McNally Bharat Engineering Company Ltd : The company said that it recently formed a 50:50 special purpose vehicle with EMC Group in Oman. In a stock exchange filing McNally Bharat said the SPV received a contract for construction, detailed engineering, commissioning of bitumen refinery in the Sultanate for a value of $315 million (around Rs 2,048 crore). Sohar Bitumen LLC is setting up the facility at Sohar in Muscat.

OnMobile Global Limited announced that it has won additional markets from Airtel for Ringback Tones. This has increased its coverage in India from over 60 million to over 115 million subscribers.