Tuesday, 27 October 2015

Axis Bank Q2 net profit jumps 19% to Rs.1,915.6 cr

Total Income has increased from Rs. 105499.70 million for the quarter ended September 30, 2014 to Rs. 120010.10 million for the quarter ended September 30, 2015.


Axis Bank Ltd has announced the following Unaudited Standalone results for the quarter ended September 30, 2015

The Bank has posted a net profit of Rs. 19156.40 million for the quarter ended September 30, 2015 as compared to Rs. 16107.10 million for the quarter ended September 30, 2014. Total Income has increased from Rs. 105499.70 million for the quarter ended September 30, 2014 to Rs. 120010.10 million for the quarter ended September 30, 2015.

Maruti Suzuki Q2 net profit jumps 42% to Rs. 1,225.6 cr

Total Income has increased from Rs. 124970.30 million for the quarter ended September 30, 2014 to Rs. 140708.50 million for the quarter ended September 30, 2015


Maruti Suzuki India Ltd has announced the following Unaudited Standalone results for the quarter ended September 30, 2015

The Company has posted a net profit of Rs. 12255.60 million for the quarter ended September 30, 2015 as compared to Rs. 8625.40 million for the quarter ended September 30, 2014. Total Income has increased from Rs. 124970.30 million for the quarter ended September 30, 2014 to Rs. 140708.50 million for the quarter ended September 30, 2015.

Lupin Q2 net profit at Rs.409 crore

Total Income has increased from Rs. 32836.40 mn for the quarter ended September 30, 2014 to Rs. 33627.60 mn for the quarter ended September 30, 2015.


Lupin Ltd has posted a net profit after taxes & minority interest of Rs. 4088.40 million for the quarter ended September 30, 2015 as compared to Rs. 6300.40 mn for the quarter ended September 30, 2014. 

Total Income has increased from Rs. 32836.40 mn for the quarter ended September 30, 2014 to Rs. 33627.60 mn for the quarter ended September 30, 2015.

The company has announced that the Board of Directors of the Company at its meeting held on October 27, 2015,  has appointed Mr. Jean-Luc Belingard, as Independent Director, for a period of five years, effective October 27, 2015 and Mr. Ramesh Swaminathan, Chief Financial Officer, as Director for a period of five years, effective October 27, 2015.

Sensex Struggles As Global Rally Fades; SpiceJet Surges

BSE Sensex and Nifty struggled on Tuesday after a four-week global rally ran out of steam. The Sensex fell over 150 points at its day's low while Nifty slipped to 8,217. However, markets pared some losses in noon trade.

Here Are Top 10 Developments:

1) Selling pressure was seen in oil & gas and metal stocks after amid weak commodity prices. Global crude prices fell on Tuesday, extending losses into a third week.

2) ONGC fell over 3 per cent while Vedanta and Tata Steel declined nearly 2 per cent to be among major Nifty losers.

3) HDFC shares extended losses on Tuesday as its September quarter earnings failed to impress investors. The mortgage lender, which closed 2 per cent lower yesterday, traded 2.7 per cent down.

4) Lupin, which will report its earnings today, fell 2.5 per cent. Axis Bank and Maruti Suzuki however traded higher ahead of the announcement of their quarterly results later in the day.

5) Aviation stocks were in limelight after IndiGo's Rs 3,000 crore IPO opened today. SpiceJet surged 4 per cent while Jet Airways gained over 1 per cent. Analysts say that IndiGo's IPO could help re-rate the aviation sector.

6) Eros International Media rebounded today with shares surging nearly 5 per cent. The company's management issued clarification after an analyst raised questions about its business operations. The stock had plunged nearly 20 per cent yesterday.

7) Analysts say that if Nifty falls below the support levels of 8200-8250, the selling pressure could accelerate. And markets are likely to be volatile ahead of the derivatives contract expiry on Thursday.

8) Traders are also likely to be cautious ahead of the Federal Reserve's policy panel meet on October 27-28. Investors are pricing in no chance of a rate hike this week, but could react to how the Fed's statement interprets recent soft US economic data and events in global financial markets.

9) The rupee was flat today at 64.96 against the dollar.

10) Asian shares broadly swung lower on Tuesday but China markets recovered after falling nearly 2 per cent. European markets were broadly lower in early trade.        

Up, Up and Away! Indigo IPO takes off in style, oversubscribed 0.3x

Indigo Airlines, which launched one of the biggest IPOs in the industry since 2012, has been oversubscribed 0.3 times at 13.00 hrs. The QIB portion was subscribed by 1.20 times, while retail was subscribed by 0.01 times.


Indigo Airlines, which launched one of the biggest IPOs in the industry since 2012, has been oversubscribed 0.3 times at 13.00 hrs. The airlines, which has the unique distinction of being the only profitable company in its sector, has QIB portion being oversubscribed within 30 minutes.

The QIB portion was subscribed by 1.20 times, while retail was subscribed by 0.01 times.

InterGlobe Aviation Limited has finalized the allocation of 1,08,76,215 Equity Shares at Rs. 765 (upper end of the Price Band) per Equity Share aggregating to Rs. 832.03 crore to Anchor Investors.

The Price Band is fixed from Rs. 700 to Rs. 765 per Equity Share.  The minimum Bid Lot is for 15 Equity Shares and in multiples of 15 Equity Shares thereafter. The Bid/ Issue will close on 29th October, 2015 for Qualified Institutional Buyers (“QIBs”)* and on 29th October 2015 for non QIBs. (*The Company and the Selling Shareholders may, in consultation with the GCBRLMs and the BRLMs, decide to close the Bid/Issue Period for QIBs one Working Day prior to the Bid/Issue Closing Date.)

RIL signs the new listing agreement with BSE

BSE expects that all listed companies will strive to ensure that the new Listing Agreement is signed well within the timelines specified by SEBI.


RIL4
BSE has announced that the process of signing of the revised Listing Agreement as mandated under the newly introduced Listing Regulations notified by SEBI, has been initiated at the BSE, with Reliance Industries Ltd. having signed the new Listing Agreement today.

It is a matter of pride for both, that one of the top companies of the Indian corporate sector has become the first company to sign the new Listing Agreement with Asia’s oldest and the world’s fastest Stock Exchange - BSE.
It may be noted that SEBI had notified the new Listing Regulations from September 2, 2015 and the same are effective from December 1, 2015. As part of the Listing Regulations, SEBI has mandated all existing listed entities to execute a fresh and simplified Listing Agreement with the Stock Exchange where they are listed, within six months of the notification date of September 2, 2015.
BSE expects that all listed companies will strive to ensure that the new Listing Agreement is signed well within the timelines specified by SEBI. 

YES BANK operationalises IFSC Banking Unit in GIFT

Yes Bank has announced that pursuant to the approval received from the Reserve Bank of India, it has operationalised its IFSC Banking unit in the Gujarat International Finance Tec City.


Yes Bank has announced that pursuant to the approval received from the Reserve Bank of India, it has operationalised its IFSC Banking unit in the Gujarat International Finance Tec City.

The scrip opened at Rs. 745 and has touched a high and low of Rs. 752.55 and Rs. 742.2 respectively. So far 998444(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 31273.87 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 910 on 04-Mar-2015 and a 52 week low of Rs. 590 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 779.7 and Rs. 743.8 respectively.

The promoters holding in the company stood at 22 % while Institutions and Non-Institutions held 64.43 % and 13.57 % respectively.

The stock is currently trading below its 200 DMA.

Coal India slips 1% on delay in disinvestment

The Department of Disinvestment has put off the appointment of merchant bankers for CIL stake sale yet again. This will be the third disinvestment in CIL and the largest planned for FY16 in revenue terms.


Coal India
Shares of Coal India Ltd, India’s largest coal miner, are currently trading 0.86% lower at Rs. 330.35 on BSE.

The Department of Disinvestment has put off the appointment of merchant bankers for CIL stake sale yet again. This will be the third disinvestment in CIL and the largest planned for FY16 in revenue terms.

On Monday, Piyush Goyal, Union Minister of State (IC), Power, Coal & New Renewable expressed confidence that it would certainly achieve the targeted growth of 50 million tonnes (mt) in the annual production this year.

The scrip opened at Rs. 334 and has touched a high and low of Rs. 334.85 and Rs. 328.4 respectively. So far 1706966(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 210461.12 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 300.75 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 344.6 and Rs. 332.1 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.48 % and 2.87 % respectively.

The stock is currently trading above its 200 DMA.

Indigo IPO QIB portion oversubscribed

The QIB portion was subscribed by 1.14 times, while retail was subscribed by 0.01 times.


Indigo Airlines IPO QIB portion was oversubscribed within 30 minutes.,

The QIB portion was subscribed by 1.14 times, while retail was subscribed by 0.01 times.

InterGlobe Aviation Limited has finalized the allocation of 1,08,76,215 Equity Shares at Rs. 765 (upper end of the Price Band) per Equity Share aggregating to Rs. 832.03 crore to Anchor Investors.

The Company proposes to open on Tuesday, 27th October, 2015, a public issue of equity shares of face value Rs. 10 each (“Equity Shares”) for cash including a share premium consisting of a Fresh Issue aggregating up to Rs. 12,722 million (“Fresh Issue”) and offer for sale of up to 22,824,018 Equity Shares comprising of 3,290,419 Equity Shares by InterGlobe Enterprises Limited; 3,006,000 Equity Shares by Mr. Rahul Bhatia; 2,741,287 Equity Shares by Mr. Rakesh Gangwal; 601,200 Equity Shares by Mr. Anil Chanana; 149,900 Equity Shares by Dr. Asha Mukherjee, 300,600 Equity Shares by Mr. Kunal Chanana, 6,012,000 Equity Shares by Mr. Newton Bruce Ashby; 100,200 Equity Shares by Mr. Sanjay Kumar; 84,000 Equity Shares by Mr. Shakti Swarup Lumba; 1,169,142 Equity Shares by Ms. Shobha Gangwal; 1,442,000 Equity Shares by Mr. Steven Eugene Harfst; 1,503,000 Equity Shares by Paul Carl Schorr, Iv (Nominee of G5 Investments) and 2,424,270 Equity Shares by The Chinkerpoo Family Trust (Trustee: Ms. Shobha Gangwal & J. P. Morgan Trust Company of Delaware) (collectively referred to as the “Selling Shareholders”) (“Offer for Sale”). The Fresh Issue and the Offer for Sale are together referred to as the “Issue”.

The Price Band is fixed from Rs. 700 to Rs. 765 per Equity Share.  The minimum Bid Lot is for 15 Equity Shares and in multiples of 15 Equity Shares thereafter. The Bid/ Issue will close on 29th October, 2015 for Qualified Institutional Buyers (“QIBs”)* and on 29th October 2015 for non QIBs. (*The Company and the Selling Shareholders may, in consultation with the GCBRLMs and the BRLMs, decide to close the Bid/Issue Period for QIBs one Working Day prior to the Bid/Issue Closing Date.)

Alkem Labs receives Sebi nod for IPO

The company is expected to utilize the fund raised for expanding footprints in global markets.


IPO
The Securities and Exchange Board of India (Sebi) has given a go-ahead to Alkem Laboratories to raise an estimated Rs, 1,500 - 3,500 cr through an initial public offering (IPO).

They filed the draft red herring prospectus (DRHP) with Sebi on August 6 for a public issue of its equity shares. The company will come out with a public offer of up to 12,853,442 equity shares.

The company is expected to utilize the fund raised for expanding footprints in global markets. The issue is being managed by Nomura Financial Advisory and Securities (India), Axis Capital, J P Morgan India and Edelweiss Financial Services.

Sterlite Technologies down 2% on net loss

The company reported net loss for the quarter stands at Rs. 15.5 crore.The total income for Q2 is at Rs.1,139 crore.


Sterlite Technologies
Sterlite Technologies Ltd stock was down by 2% at Rs. 91. The company reported net loss for the quarter stands at Rs. 15.5 crore.The total income for Q2 is at Rs.1,139 crore.

The scrip opened at Rs. 93.5 and has touched a high and low of Rs. 93.5 and Rs. 90.9 respectively. So far 141597(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3677.74 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 109.9 on 04-Aug-2015 and a 52 week low of Rs. 48.45 on 27-Mar-2015. Last one week high and low of the scrip stood at Rs. 101.85 and Rs. 92.6 respectively.

The promoters holding in the company stood at 54.77 % while Institutions and Non-Institutions held 15.05 % and 30.16 % respectively.

The stock is currently trading below its 100 DMA.

IndiGo's Rs 3,000 Crore IPO Opens for Subscription Today: 10 Facts

IndiGo's Rs 3,000 Crore IPO Opens for Subscription Today: 10 Facts

InterGlobe Aviation, which operates the low-cost IndiGo airline, will hit the primary market on Tuesday with an aim to raise a little over Rs. 3,000 crore. India's biggest airline according to market share is aiming at a valuation of over $4 billion (Rs. 26,000 crore) through the initial public offer, being dubbed as India's biggest in three years.

Here are 10 things to know about IndiGo IPO:

1) IndiGo shares, with a face value of Rs. 10, can be bought in a price band of Rs. 700 to Rs. 765. Shares can be bought in multiples of 15. The IPO will close for subscription on October 29.

2) The IndiGo IPO comprises fresh issue of shares worth Rs. 1,270 crore. Promoters and non-promoters are selling shares worth about Rs. 1,750 crore. Together, the share sale can rake in up to Rs. 3,018 crore. Post issue, the promoter holding is expected to come down to 85 per cent from 93.4 per cent currently.

3) IndiGo has a net debt of Rs. 3,912 crore, all of which is related to aircraft purchases, according to President Aditya Ghosh. IndiGo plans to use the proceeds to retire Rs. 1,166 crore of debt, while the remaining amount will be used to fuel expansion, the company said.

4) InterGlobe's net worth (total assets minus total liabilities of a company) slipped to a negative Rs. 139 crore at the end of June 2015. The company, however, says that there is nothing to worry about. "In the first quarter we earned Rs. 7 crore a day net profit. We are now sitting three-and-a-months after that (June 30) and naturally the negative net worth becomes positive net worth," he noted.

5) IndiGo has been the only consistently profitable airline in the country for the last seven years, according to consultancy Centre for Aviation. In the latest June quarter, IndiGo posted a net profit of Rs. 640 crore on sales of Rs. 4,317 crore. For the year ended March 2015, IndiGo recorded a net profit of Rs. 1,296 crore on revenues of Rs. 14,309 crore.

6) IndiGo, which started flying in 2006, has risen rapidly to command almost 40 per cent of its home market - the biggest share of any airline. It also has one of the country's biggest fleets - 98 aircraft at present - allowing it to fly more frequently than other carriers.

7) According to Mr Ghosh, the average age of its fleet is around four years; a young fleet means less fuel is burnt, he added.

8) Shares in listed carriers have rallied sharply in the run-up to IndiGo's IPO. In last one month, SpiceJet shares have rallied 55 per cent while Jet Airways shares have surged over 20 per cent as compared to 5 per cent gain in the broader Nifty.

9) According to Angel Broking, IndiGo is a low-cost carrier (LCC) with an asset light business model which enables it to have lowest cost and highest profitability amongst Indian airline companies. The brokerage has a "subscribe" rating on IndiGo IPO. Anand Rathi brokerage also asked investors to "subscribe" to the IPO citing Indigo's market leadership, cost competitiveness, and low-cost carrier business model.

10) Some investors, however, said the pricing was on the high side. "Even though IndiGo is doing well and it is the country's most profitable airline, the pricing for this issue is a bit aggressive," said Neeraj Dewan, director at brokerage Quantum Securities.        

SpiceJet's Diwali Sale Dhamaka! More than 3,00,000 lakh seats on sale!

The all inclusive one-way fare applicable on direct flights encompasses all the metro cities and some of the most attractive tourist destinations in the country.


Festivities to continue at SpiceJet with a new fervor as the airline today announced another exciting discount sale offer with fares starting as low as Rs. 749/- base fare (excluding taxes) for the domestic and Rs. 3,999/- all in for the international sectors respectively. More than 3,00,000 lakh seats are available on this sale!
The all inclusive one-way fare applicable on direct flights encompasses all the metro cities and some of the most attractive tourist destinations in the country. Under this offer, tickets on routes like Delhi to Amristar, Ahmedabad to Mumbai all are priced at Rs. 749 base fare (taxes will be additional). While within the international sector, the sale offering has been geared up for hot spots like Chennai to Colombo at Rs. 3999 all-in among others.

SpiceJet’s current sale has been strategically sketched with a year-long travel period for the advantage of its flyers. The airline’s customers can therefore avail these very attractive domestic and global fares to plan their travel well in advance.

The three day feisty sale launched today will be open till midnight, October 29, 2015, whereas the travel period covered in this sale is 01st Feb – 29th October 2016.

“The attractive pricing clubbed with our robust network is expected to garner immense traction from customers across geographies and with advance purchase being a huge incentive to travellers, the year-long travel period under the current offering will provide SpiceJet customers with immense flexibility while enabling them to plan their travel well in advance.” said SpiceJet spokesperson.

Bookings for the new sale can be made across all channels, on www.spicejet.com, on online travel portals, and through travel agents. Customers booking through mobile app will be getting 3% extra discount on both domestic and international bookings.  Tickets under this offer are non-refundable (taxes and fees are refundable).

There is limited inventory under the offer, and seats will be available on First-Come-First-Served basis. The offer cannot be combined with any other offer and the sales fares are not applicable on group bookings. Fares vary from sector to sector depending on the travel distance and flight schedules and timings are subject to regulatory approvals and change(s).

20 Stocks in focus today

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


Stocks to watch
Bharti Airtel: The company has posted a net profit of Rs. 15,227 mn for the quarter ended September 30, 2014 as compared to Rs. 13,832 mn for the quarter ended September 30, 2015.

Aban Offshore Limited has informed the Exchange that the Company has received a letter of award from ONGC Ltd for deployment of jack-up rig Aban II for a period of 3 years. The total value of this firm order is approximately USD 50 Million (equivalent to Rs. 325 Crores). Contract is expected to commence during the first quarter of calender year 2016.

Maxwell Industries Ltd:The company has informed BSE that the Board of Directors of the Company at its meeting held on October 26, 2015, has approved the allotment of 30,00,000 equity shares to promoters and promoter group of the company pursuant to conversion of 30,00,000 warrants.

Axis Bank: Axis Bank is expected to report healthy growth in their domestic advances and asset quality within the guided band. However, earnings growth is likely to be marginally impacted by moderation in NIM and continuance of elevated credit cost.

Elder Pharmaceuticals Ltd: The pharma company reportedly plans to repay its creditors and fixed deposit investors by raising funds through a combination of debt, equity and asset sales.

Maruti Suzuki: Product mix is expected to have a big impact on the realizations for most companies under our coverage. For Maruti, while contribution of compact segment declined, contribution of Midsize (Ciaz) and Vans UV (launch of S-Cross) segment saw an increase. This would translate into better realizations for Maruti.

Steel Strips Wheels: The company has bagged an export order for supply of unassembled Steel wheels for supplies to Egypt market. The total order value would be about USD 2.8 mn for supplying approx 360,000 unassembled wheels in a period of 3 years.

Himachal Futuristic Communications Limited: The company reported Q2FY16 PAT is up by 4% to Rs.71.68 crore  as compared to Rs.68.94 crore in Q2FY15, while Profit After Tax for H1FY16 including exceptional item stood at Rs.184.07  crore, up by 33% as compared to Rs.138.41 crore in the corresponding first half of previous fiscal.

Blue Star: The company reported itd total Ooperating income of Rs. 716.66 crores for the quarter ended September 30, 2015, as compared to Rs. 642.24 crores in Q2FY15, representing an increase of 12%.

Navneet Education Ltd: The company reported its net profit at Rs.10.5 crore for the quarter ended September 30, 2015 as compared to Rs.98.4 crore for the same quarter in the previous year. The company’s total income has decreased by 20.5 per cent to Rs.117.4 crore for the quarter under review from Rs. 147.8 crore for the corresponding quarter of the previous year.

Den Networks: The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 74 per cent of the paid up capital of DEN Networks Limited under the Portfolio Investment Scheme (PIS).

State Bank Of Mysore Ltd: The net profit for the quarter stands at Rs. 132 crore. The gross NPA was at 4.19%.

NIIT Technologies Ltd: The company has announced that it has signed Long-term strategic agreement with FlyDubai.

REC: Rural Electrification Corporation plans to raise Rs. 700 crore through public issue of tax-free non-convertible bonds.


Lupin: Lupin Limited announced that its US subsidiary, Lupin Pharmaceuticals Inc. (collectively Lupin) has launched its Calcium Acetate Capsules, 667 mg (eq. 169 mg Calcium) having received final approval from the United States Food and Drug Administration (FDA).The pharma company has also announced the appointment of Martin Mercer as its President for Latin American business.

Wonderla Holidays Ltd: The net profit for the quarter stood at Rs.12 Crore. The total Income is at Rs.43.2 Crore.

Inox Wind Ltd: The company consolidated net profit has jumped by 63.48% to Rs. 89.13 crore for the second quarter ended September 30, 2015 as against Rs. 54.52 crore in the same period a year ago.

Sterling Holiday Resorts Limited: The company announced its signing of agreement to acquire ‘Nature Trails Resorts Private Limited’ - an adventure holiday company that operates resorts at four unique destinations in Maharashtra.

JSW Energy Ltd: The company has announced that JSW Energy Natural Resources South Africa Proprietary Limited, a step down subsidiary of the Company in South Africa which holds 67.27% in its subsidiary, South African Coal Mining Holdings Limited (SACMH) has intimated its firm intention in terms of Regulation 101 of the Companies Regulations, 2011 of the Companies Act, 2008 to the proposed delisting of SACMH on the Johannesburg Stock Exchange (JSE) and an offer to all remaining shareholders.

Housing Development Finance Corporation Ltd: The company has posted a net profit after tax attributable to the Corporation and its Subsidiaries of Rs. 21065.10 mn for the quarter ended September 30, 2015 as compared to Rs. 20643.60 mn for the quarter ended September 30, 2014.

Hester Biosciences Ltd: The company reported a 12 per cent growth in sales and 57 per cent in net profit in the second quarter of 2015-16, ended September 30, as compared to the corresponding period last fiscal.

Sterlite Technologies Ltd: The company reported net loss for the quarter stands at Rs. 15.5 crore.The total income for Q2 is at Rs.1,139 crore.