Alembic Q2 net profit rises 43.2% to Rs.27.5 cr

The total income from operations of the company during the September quarter declined by 3% to Rs.38.2 crore, over Rs.39.5 crore in the year-ago period.

Alembic Ltd reported 43.2% rise in consolidated net profit at Rs.27.5 crore for the quarter ended September 30. The company's net profit in the corresponding quarter of the previous fiscal year was Rs.19.2 crore.

The total income from operations of the company during the September quarter declined by 3% at Rs.38.2 crore, over Rs.39.5 crore in the year-ago period.

The stock is currently trading at Rs. 42.95, down by Rs. 0.5 or 1.15% from its previous closing of Rs. 43.45 on the BSE.

The scrip opened at Rs. 43.4 and has touched a high and low of Rs. 43.9 and Rs. 42.05 respectively. So far 678282(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1160.12 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 54.95 on 20-Jan-2015 and a 52 week low of Rs. 29.3 on 04-Jun-2015. Last one week high and low of the scrip stood at Rs. 45.7 and Rs. 41.6 respectively.

The promoters holding in the company stood at 63.99 % while Institutions and Non-Institutions held 9.36 % and 26.65 % respectively.

The stock is currently trading below its 100 DMA.

Aban Offshore Q2 cons net profit dips 21%

For Q2, the total income stands at Rs. 990.1 crore.

Aban Offshore Ltd has posted results for the second quarter ended 30th September, 2015. 

The consolidated net profit stood at Rs.124.4 crore as compared to Rs.135.3 crore (qoq).

For Q2, the total income stands at Rs. 990.1 crore.

The scrip opened at Rs. 222.95 and has touched a high and low of Rs. 226.6 and Rs. 216.6 respectively. So far 624415(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1295.42 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 674.8 on 05-Nov-2014 and a 52 week low of Rs. 216 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 236.5 and Rs. 218 respectively.

The promoters holding in the company stood at 47.01 % while Institutions and Non-Institutions held 13.93 % and 39.06 % respectively.

The stock is currently trading above its 200 DMA.

Cipla slips into red ahead of the results

The scrip opened at Rs. 674.15 and has touched a high and low of Rs. 675 and Rs. 664.1 respectively.

Shares of Cipla were trading lower at Rs. 688.50 on BSE. The pharma company is scheduled to announce its September quarter earnings today.

Cipla is likely to report 9% qoq decline as most of the gNexium boost has been captured in Q1 FY16 and company had indicated that Q1 supplies have been lower (leading to lower PAT in Q2) which along with higher R&D spends would impact margin by ~400bps qoq to 23%; reported PAT likely to decline ~25% qoq, IIFL says.

The scrip opened at Rs. 674.15 and has touched a high and low of Rs. 675 and Rs. 664.1 respectively. So far 1,014,239 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 53880.3 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 752.45 on 10-Mar-2015 and a 52 week low of Rs. 572 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 704.75 and Rs. 668.55 respectively.

The promoters holding in the company stood at 36.79 % while Institutions and Non-Institutions held 34.24 % and 26.63 % respectively.

The stock is currently trading below its 200 DMA

Nifty cracks below 8,000 mark

The BSE Mid-cap Index is trading down 0.87% at 10,938, whereas BSE Small-cap Index is trading down 0.76% at 11,214.

At 10:20 AM, the S&P BSE Sensex is trading at 26,385 down 168 points, while NSE Nifty is trading at 7,988 down 51 points.

The BSE Mid-cap Index is trading down 0.87% at 10,938, whereas BSE Small-cap Index is trading down 0.76% at 11,214.

Some buying activity is seen in consumer durable, realty and power sectors, while banking, pharma, metal, auto and IT sectors are showing weakness on BSE.

NTPC, GAIL, BHEL, Tata Motors, Dr.Reddy's lab, Bajaj-Auto and Infosys are among the gainers, whereas Bharti Airtel, Sun Pharma, Tata Steel, Lupin, Axis Bank and ONGC are losing sheen on BSE.

Indian Rupee today opened lower by 12 paise at 65.60/$ in early trade on Thursday.On the global front, US dollar has strengthened against the basket of currencies, as markets are trying to reinforce the perception of US Federal Reserve hiking interest rates in December. In the latest, Fed chief Janet Yellen in her address to House Financial Services Committee conveyed that a rate hike in December is quite a possibility as US economy is performing well at the moment. Effectively, US dollar index has surged towards 98 levels, with Euro categorically losing ground against the greenback. Euro has now retreated to 1.08 levels. Market focus will now shift towards US employment report (scheduled on Friday) in order to gauge the prospects of a rate move in the world’s largest economy.

The currency touched a high and low of 65.84 and 65.92 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.56 and for Euro stood at 71.79 on November 04, 2015. While, the RBI’s reference rate for the Yen stood at 54.17, the reference rate for the Great Britain Pound (GBP) stood at 101.1255.

Neyveli Lignite Ltd has jumped 4% at Rs. 83.90 on BSE. The company has posted a net profit at Rs. 343.4 crore for the quarter ended September 30, 2015 as compared to net profit of Rs. 259.4 crore for the quarter ended September 30, 2014.  Total Income stood at Rs. 1715.9 crore for the quarter ended September 30, 2014.

Shares of Power Grid is trading higher 1% at Rs.132.30 on BSE today. Around 16.5 lakh shares were traded in a single block on the BSE. The company has reported its net profit at Rs. 1,448.04 crore for the quarter, registering increase of 20.54% yoy.

Shares of Larsen & Turbo is trading flat at Rs. 1,377 on BSE. The company has bagged an orders worth Rs. 2,048 crores across various business verticals in October 2015.

RCOM stock down 3%; company to invest US$80 mn in new data centres

The company is planning to invest US$80 mn in building two new data centres and expand two existing ones.

RCOM stock was down by 3% at Rs. 79. Report says that the company is planning to invest US$80 mn in building two new data centres and expand two existing ones. 

“We are looking at building two new data centres and expansion of two existing data centres. So the overall investments would be about US$80 million over the next 2-3 years,” CEO of RCOM's Enterprise and Global Cloud Xchange Bill Barney.

Reliance Communications Ltd is currently trading at Rs. 80, down by Rs. 1.95 or 2.38% from its previous closing of Rs. 81.95 on the BSE.

The scrip opened at Rs. 81.9 and has touched a high and low of Rs. 82.35 and Rs. 79.95 respectively. So far 2275511(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 20397.19 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 117.4 on 18-Nov-2014 and a 52 week low of Rs. 45.65 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 83.6 and Rs. 74.8 respectively.

The promoters holding in the company stood at 59.7 % while Institutions and Non-Institutions held 29.58 % and 10.3 % respectively.

The stock is currently trading below its 50 DMA.

October Orders, stock flat! L&T Construction bags orders worth Rs. 2,048 crore

The scrip opened at Rs. 1377 and has touched a high and low of Rs. 1,380.95 and Rs. 1,364.1 respectively.

Shares of Larsen & Turbo are trading flat at Rs. 1,377 on BSE. The company has bagged orders worth Rs. 2,048 crores across various business verticals in October 2015.

The scrip opened at Rs. 1377 and has touched a high and low of Rs. 1,380.95 and Rs. 1,364.1 respectively. So far 535,073 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 127622.98 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1892.95 on 04-Mar-2015 and a 52 week low of Rs. 1367 on 04-Nov-2015. Last one week high and low of the scrip stood at Rs. 1498.15 and Rs. 1367 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.28 % and 42.36 % respectively.

The stock is currently trading above its 200 DMA.

Innovating and Investing! Facebook Q3 revenues up 41%

The company posted 40.5 per cent jump in quarterly revenue. Revenue jumped to $4.50 bn in the third quarter ended Sept. 30, from $3.20 bn a year earlier.

Facebook, Inc reported financial results for the quarter ended September 30, 2015.

The company posted 40.5 per cent jump in quarterly revenue. Revenue jumped to $4.50 bn in the third quarter ended Sept. 30, from $3.20 bn a year earlier. 

"We had a good quarter and got a lot done," said Mark Zuckerberg, Facebook founder and CEO. "We're focused on innovating and investing for the long term to serve our community and connect the entire world."

Third Quarter 2015 Other Financial Highlights

Mobile advertising revenue - Mobile advertising revenue represented approximately 78% of advertising revenue for the third quarter of 2015, up from 66% of advertising revenue in the third quarter of 2014.

Capital expenditures - Capital expenditures for the third quarter of 2015 were $780 million.

Cash and cash equivalents and marketable securities - Cash and cash equivalents and marketable securities were $15.83 billion at the end of the third quarter of 2015.

Free cash flow - Free cash flow for the third quarter of 2015 was $1.41 billion.

Road to progress! Govt to spend Rs. 1 lakh crore on North-East roads

Rs. 25,000 crore would be spent for developing roads in Arunachal Pradesh, Gadkari said after laying the foundation stones of Akajan-Likabali and Likabali-Bame roads.

Prime Minister Narendra Modi has given top priority to the development of the North-East and therefore the Government has decided to build 10,000 km roads at Rs. 1 lakh crore in the region (including Arunachal Pradesh), Union Road Transport Minister Nitin Gadkari said on Wednesday.

Rs. 25,000 crore would be spent for developing roads in Arunachal Pradesh, Gadkari said after laying the foundation stones of Akajan-Likabali and Likabali-Bame roads.

“I am aware of your huge expectations from the Centre. If at the desire of former Prime Minister Atal Behari Vajpayee I could conceive and facilitate building of PMGSY roads at a cost of Rs. 60,000 crore to link 1,70,000 villages...roads in Arunachal will not be a difficult task,” he said.

“It is your money and every penny should be utilised for your benefit,” Gadkari said.

“Roads hold key to speed and progress and what could not be done in 50 years I commit to achieve it within next five years,” he said.

Valuation at Rs. 4800 crore! Mahanagar Gas plans IPO to offload stake

The company may file a draft prospectus with the Securities and Exchange Board of India seeking approval for promoters to sell 25% stake in the firm through an initial public offering (IPO).

Mahanagar Gas, jointly owned by GAIL and British Gas, is planning an Initial Public Offering.

The company may file a draft prospectus with the Securities and Exchange Board of India seeking approval for promoters to sell 25% stake in the firm through an initial public offering (IPO), a report stated.

The joint owners plan to sell 25% in Mahanagar Gas for Rs 1,200 crore, valuing firm at Rs 4,800 crore. 

Mahanagar Gas joins the list of other companies including RBL Bank and Alkem Laboratories that have filed the draft red herring prospectus with SEBI.

SC refuses to stay DLF plan to sell stake in rental assets

The order came on a fresh plea by market regulator SEBI to obtain a stay on transfer of shares by DLF’s subsidiaries to an overseas entity.

The Supreme Court refused to stay DLF’s plans to raise around Rs. 12,000 crore by selling stakes in its rental properties.

The order came on a fresh plea by market regulator SEBI to obtain a stay on transfer of shares by DLF’s subsidiaries to an overseas entity. 

While a bench headed by Justice J Chelameswar declined immediate relief to SEBI, it did not dismiss its fresh plea and posted it along with its main appeal, pending before the apex court.

In October, DLF had said that its Board had approved plans to sell 40% stake in the company’s rental business (DLF Cyber City Developers) to institutional investors to reduce its debt.

DLF promoters would re-invest a significant part of the amount realised from the proposed sale in the company, which in turn would utilise this fund to trim its debt.

“Post the completion of the proposed transaction, DLF to continue to hold 60 per cent equity interest in DCCDL on a fully diluted basis,” according to the latest DLF presentation.

DLF has appointed JP Morgan and Morgan Stanley as merchant bankers for proposed sale. 

The company has a rental portfolio of 30 million sq ft of area.

Ashok Leyland, Marico, Sadbhav Engineering among 22 Stocks in focus today

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

Ashok Leyland: The company has posted a net profit of Rs. 286.8 crore for the quarter as compared to Rs. 121 crore YoY, indicating a jump of 137%. Total Income has increased from Rs. 3248.9 crore for the quarter ended September 30, 2014 to Rs. 4966.2 crore for the quarter ended September 30, 2015.

Reliance Communications Ltd: RCOM  plans to invest US$80 million in building two new data centres and expand two existing one. “We are looking at building two new data centres and expansion of two existing data centres. So the overall investments would be about US$80 million over the next 2-3 years,” CEO of RCOM's Enterprise and Global Cloud Xchange Bill Barney.

Procter & Gamble Hygiene and Health Care Ltd: The company has posted a net profit of Rs. 697.80 mn for the quarter ended September 30, 2015 as compared to Rs. 615 mn for the quarter ended September 30, 2014.

DLF: DLF’s net debt has increased by Rs. 922 crore during the quarter ended September 30, 2015 to INR 22,520 crore from the preceding three months. In an analyst presentation, DLF said that its net debt stood at Rs. 22,520 crore as on September 30, 2015 compared to Rs. 21,598 crore at the end of the April-June quarter.

Bank of Maharashtra: The bank has reported 55.8% drop in consolidated net profit at Rs. 72 crore for the quarter ended September 30. The company's net profit in the corresponding quarter of the previous fiscal year was Rs.163 crore.

NMDC: As part of a policy framework for growth and expansion for the next decade, NMDC Ltd. has chalked out ‘Vision 2025’ that seeks to reorient its business model to retain its market leadership in the domestic market.

JK Lakshmi Cement Ltd: The company has posted a net loss of Rs. 149.50 mn for the quarter ended September 30, 2015 as compared to net profit of Rs. 306.10 mn for the quarter ended September 30, 2014. 

Magma Fincorp: The company announced the Q2 FY16 unaudited results that reflected a healthy increase of 96 bps YoY in Net Income Margin (“NIM”) to 6.83%,that drove a significant increase of 52% in profits before tax, from Rs. 47.9 crs during the prior year same quarter, to Rs. 73 crs. The PAT has increased by 15% to Rs. 48.7 crs due to higher tax outgo.

Essar Ports: The net profit for the quarter stands at Rs. 104.5 crore as compared to Rs. 96.1 crore. The total income for the quarter stands at Rs. 470.3 crore.

Marico: The net profit for the quarter stands at Rs. 150.7 crore. The total income for the quarter stands at Rs. 1485.4 crore.

Honeywell Automation India reported 38.6 per cent rise in its net profit at Rs. 41.3 crore for the quarter ended September 30, 2015 as compared to Rs. 29.8 crore for the same quarter in the previous year. The company’s sales has decreased by 0.6 per cent to Rs. 509 crore for the quarter under review from Rs. 512 crore for the corresponding quarter of the previous year.

Canara Bank: The bank reported 15.6% drop in consolidated net profit at Rs. 529 crore for the quarter ended September 30. The company's net profit in the corresponding quarter of the previous fiscal year was Rs.626.8 crore.

SpiceJet: SpiceJet announced new direct international flights to Bangkok from Chennai, flying 6 days a week. Flight services on this route will commence from December 10, 2015, and this will be SpiceJet’s second direct international flight from Chennai.

IDBI Bank Ltd: IDBI Bank recorded a rise of 0.84% in its net profit of Rs. 119.5 crore for the quarter ended September 30, 2015 as compared to Rs. 118.5 crore for the quarter ended September 30, 2014.

Sadbhav Engineering: The net profit for the quarter stands at Rs. 26.2 crore as compared to Rs. 10.1 crore.

SSWL: Steel Strips Wheels Ltd has bagged exports order for supply of Trailer/ Truck Steel wheels from Korean Aftermarket.

Jain Irrigation: The company bagged MSEDCL most awaited tender for supply and installation of 8,959 Solar Agri Pumps. The tender will be executed by projects division of the micro irrigation segment of the company and will also create additional sales opportunity for micro irrigation systems to individual farmers.

Prism Cement Ltd: The cement company has acquired a 50% equity stake in Coral Gold Tiles Private Limited, Morbi, a company in the business of manufacturing Ceramic Wall Tiles. Accordingly, Coral Gold Tiles Private Limited has become a joint venture of the Company with effect from November 04, 2015.

Minda Corp Ltd: The company has posted a net profit at Rs. 29 crore for the quarter ended September 30, 2015 as compared to net profit of Rs. 18.6 crore for the quarter ended September 30, 2014. 

Pricol Ltd: Pricol has posted a net profit of Rs. 2.8 crore for the quarter ended September 30, 2015 as compared to Rs. 9.6 crore for the quarter ended September 30, 2014. 

Chennai Petro: The company posted net loss at Rs. 452.4 Cr as compared to loss Of Rs. 233.1 Cr (YoY). The total income is at Rs. 5,982.4 crore.

Neyveli Lignite Ltd: The company has posted a net profit at Rs. 343.4 crore for the quarter ended September 30, 2015 as compared to net profit of Rs. 259.4 crore for the quarter ended September 30, 2014.

Tata Steel, Cipla, Aban Offshore, Bajaj Electricals, Allcargo Logistics, Alembic, Aarti Industries, Kalpataru Power, Kolte-Patil Developers, are some of companies which to announce their earnings today.

Sensex, Nifty to open on a weak note

Global cues are mixed. Though US indices were flat, Asian markets are all in the green. However, the SGX Nifty seems to be subdued for now.

Even as global cues were healthy on Wednesday, the Indian market seemed to be genuinely concerned about realities on the ground especially with reference to the Bihar elections. The mud-slinging campaigns have kept political observers and market nervous. The fifth and final round of voting for 57 seats across nine districts in the Bihar Assembly poll takes place today. As a result, indices which got off to a smart start pared all gains and continued with its losing ways. Globally, attention was drawn to Fed chair Janet Yellen’s testimony where said an improving economy has set the stage for a December interest-rate increase.  In testimony before the House Financial Services Committee in Washington, Yellen said, “At this point, I see the US economy as performing well. Domestic spending has been growing at a solid pace. If data continues to point to growth and firmer prices, a December rate hike would be a live possibility.”

The outlook is a flat to weak start. Global cues are mixed. Though US indices were flat, Asian markets are all in the green. However, the SGX Nifty seems to be subdued for now.

Among the results to watch out for include Tata Steel, Cipla, Bajaj Electricals, Allcargo Logistics,  Aarti Industries, Kalpataru Power, Arvind and Future Retail. 

Foreign portfolio investors pulled out some $2.5 billion from domestic equities during the September quarter of FY16, yet their ownership of BSE500 stocks reached a peak of 23.44 per cent during this period after dropping to 23.37 per cent in June quarter, says  a report in ET.

Mahanagar Gas, jointly owned by state-owned GAIL and British Gas, is planning to list on the domestic bourses. The natural gas distribution company may file a draft prospectus with the Securities and Exchange Board of India this month seeking approval for promoters to sell 25% stake in the firm through an initial public offering (IPO), says a report. 

India and the United States on Wednesday discussed potential policy measures that could deepen the former's capital markets and drive greater investment by domestic and foreign investors in Asia's third largest economy.

Finance Minister Arun Jaitley said introduction of the goods and services tax (GST), which will replace more than a dozen state levies, is only "a question of time" as obstruction to the reform measure will not stand parliamentary vote.

Reliance Communications and its subsidiary Global Cloud Xchange is planning to invest USD 80 mn (around Rs 500 crore) to set up four data centres in India over the next 12 months, says report.

DLF's net debt has increased by Rs. 922 crore during the quarter ended September to Rs 22,520 crore, says report.