Cabinet approves a new power tariff policy that aims to promote clean energy.
Cabinet approves a new power tariff policy that aims to promote clean energy. This will enable better regulation of discoms and fastest rollout of investments.
Wednesday 20 January 2016
Cairn India down 4%
Cairn Energy reportedly said it will seek from India over $600 mn in damages for loss it suffered in value of its holding from a Rs 10,247-crore tax demand raised on its eight-year-old internal business recognition.
Cairn India Ltd is currently trading at Rs. 109.25, down by Rs. 5.3 or 4.63% from its previous closing of Rs. 114.55 on the BSE.
The scrip opened at Rs. 111.8 and has touched a high and low of Rs. 111.8 and Rs. 107.8 respectively. So far 2868125(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21476.55 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 262.5 on 16-Feb-2015 and a 52 week low of Rs. 106.6 on 19-Jan-2016. Last one week high and low of the scrip stood at Rs. 128.5 and Rs. 106.6 respectively.
The promoters holding in the company stood at 59.88 % while Institutions and Non-Institutions held 26.15 % and 13.97 % respectively.
The stock is currently trading above its 200 DMA.
Edelweiss Financial Services profit up 27.9%
Total Income has increased from Rs. 960.4 crore for the quarter ended December 31, 2014 to Rs. 1343.3 crore for the quarter ended December 31, 2015.
The Group has posted a net profit after at Rs. 106 crore for the quarter ended December 31, 2015 as compared to Rs. 82.9 crore for the quarter ended December 31, 2014. Total Income has increased from Rs. 960.4 crore for the quarter ended December 31, 2014 to Rs. 1343.3 crore for the quarter ended December 31, 2015.
On a standalone basis, the Company has posted a net profit after tax of Rs. 52.9 crore for the quarter ended December 31, 2015 as compared to Rs. 34.6 crore for the quarter ended December 31, 2014. Total Income has increased from Rs. 77.5.crore for the quarter ended December 31, 2014 to Rs. 107.7 crore for the quarter ended December 31, 2015.
The company has declared an interim dividend of Re. 1 per equity share of the face value of Re. 1/- each for the financial year 2015-16.
Stock Commentary:
Edelweiss Financial Services Ltd is currently trading at Rs. 50.8, down by Rs. 0.75 or 1.45% from its previous closing of Rs. 51.55 on the BSE.
The scrip opened at Rs. 55.95 and has touched a high and low of Rs. 55.95 and Rs. 50.1 respectively. So far 267542(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4192.11 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 82.25 on 27-Jan-2015 and a 52 week low of Rs. 49.55 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 54.85 and Rs. 49.55 respectively.
The promoters holding in the company stood at 37.89 % while Institutions and Non-Institutions held 19.53 % and 42.58 % respectively.
The stock is currently trading above its 200 DMA.
UltraTech Cement Q3 net profit jumps 36.5%; Operating Margin at 19.26%
The company's total income has increased by 7.54% at Rs.6,241 crore for the quarter against Rs.5978.3 crore in the corresponding quarter of the previous year.
The company recorded a rise of 36.5% in its net profit at Rs. 546 crore for the quarter ended December 31, 2015 as compared to Rs. 400 crore for the quarter ended December 31, 2014.
The company's total income has increased by 7.54% at Rs.6,241 crore for the quarter against Rs.5978.3 crore in the corresponding quarter of the previous year.
Net sales in third quarter stood at Rs.6,100 crore, up 4.7% from Rs. 5825 crore in the year-ago period.
During the quarter under review, Operating margin were at 19.26% compared with 17.1%.
Stock Commentary:
UltraTech Cement Ltd is currently trading at Rs. 2638.85, down by Rs. 5.65 or 0.21% from its previous closing of Rs. 2644.5 on the BSE.
The scrip opened at Rs. 2638.7 and has touched a high and low of Rs. 2677 and Rs. 2581.95 respectively. So far 262485(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 72571.2 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3399 on 04-Mar-2015 and a 52 week low of Rs. 2530.8 on 07-May-2015. Last one week high and low of the scrip stood at Rs. 2707.9 and Rs. 2581.15 respectively.
The promoters holding in the company stood at 61.69 % while Institutions and Non-Institutions held 25.53 % and 11.04 % respectively.
The stock is currently trading above its 200 DMA.
DHFL net profit jumps 16.3% to Rs.186 crore
Total Income has increased from Rs. 1,524 crore for the quarter ended December 31, 2014 to Rs. 1,885.3 crore for the quarter ended December 31, 2015.
The company reported a 16.3% increased in net profit at Rs. 186 crore for the quarter ended December 31, 2015 as compared to Rs. 160 crore for the quarter ended December 31, 2014. Total Income has increased from Rs. 1,524 crore for the quarter ended December 31, 2014 to Rs. 1,885.3 crore for the quarter ended December 31, 2015.
Stock Commentary:
Dewan Housing Finance Corporation Ltd is currently trading at Rs. 181.1, down by Rs. 11.7 or 6.07% from its previous closing of Rs. 192.8 on the BSE.
The scrip opened at Rs. 191.4 and has touched a high and low of Rs. 191.4 and Rs. 180.4 respectively. So far 1106549(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5625.52 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 284.85 on 04-Mar-2015 and a 52 week low of Rs. 181 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 219.2 and Rs. 186 respectively.
The promoters holding in the company stood at 34.9 % while Institutions and Non-Institutions held 27.66 % and 37.44 % respectively.
The stock is currently trading above its 200 DMA.
Global markets crack! Sensex plunges 500 points
The India VIX (Volatility) index is up 15.36% to 20.5000. A total of five stocks registered a fresh 52-week high in trades today, while 131 stocks touched a new 52-week low on the NSE.
At 2:09 PM, the S&P BSE Sensex is trading at 23,914 down 566 points, while NSE Nifty is trading at 7,263 down 171 points.
The BSE Mid-cap Index is trading down 2.90% at 9,941, whereas BSE Small-cap Index is trading down 2.67% at 10,245.
All sectors are showing weakness on BSE. Among sectors - the CNX Metal index has shed 3.7 percent at 160.95. The Media and Realty indices are down 2 percent each, while the Bank Nifty has declined 2.5 percent to 14,894.
Sun Pharma, Infosys, SJVN,Balkrishna Industries, Rajesh Exports and Vakrangee are among the gainers, whereas Tata Steel, RIL, SBI, L&T, Adani Ports, ONGC, ICICI Bank and Axis Bank are losing sheen on BSE.
The India VIX (Volatility) index is up 15.36% to 20.5000. A total of five stocks registered a fresh 52-week high in trades today, while 131 stocks touched a new 52-week low on the NSE.
The breadth too has turned negative - Out of 1,782 stocks traded on the NSE, 1,377 have declined and 165 advanced so far.
Indian Rupee opened at 66.77/$,down 12 paise in early trade on Wednesday as against the previous close of 66.65/$.The Indian Rupee slipped to lowest level since September 2015. On macroeconomic front, IMF has downwardly revised its growth forecasts for the third consecutive time in last 12 months and now projects the world economy to grow at 3.4% in 2016 and 3.6% in 2017, about 2% lower than previous estimates. China's growth is expected at 6.3% in 2016 and 6% next year. Growth outlook for the US has been lowered as well, weighed down by strong US dollar, ensuing weak exports and lower investments in energy sector. US economy is forecasted to grow at 2.6% for 2016 and 2017, down 0.2% from its October forecast. Europe is forecasted to expand by 1.7% this year.
Rallis India hit 52-week low at Rs.142.50 on BSE. The company posted a net profit after taxes and minority interest of Rs. 204.10 mn for the quarter ended December 31, 2015 as compared to Rs. 254.90 mn for the quarter ended December 31, 2014. Total Income has decreased from Rs. 3881.80 mn for the quarter ended December 31, 2014 to Rs. 3111.10 mn for the quarter ended December 31, 2015.Currently, the stock is trading down 3.2% at Rs.144.70.
Axis Bank slipped 2.7% to Rs.382.55 on BSE. The bank is scheduled to announce its December quarter earnings today. According to IIFL estimates, the bank will report net profit around Rs. 2243.9 crore at growth rate of 18.1 % on Y-o-Y basis and 17.1 % on Q-o-Q basis.
BASF India tumbled 4.8% to Rs.799.95 on BSE. The company reported net loss of Rs. 106.38 crore for the quarter ended December 31, 2015. The company’s revenue stood at Rs. 1131.7 crore registering growth of 15.77% yoy.
Titan Company has collaborated with HP, to launch JUXT, the India's most stylish smartwatch.
BASF India tumbles 4.8% after poor Q3 nos
The company reported net loss of Rs. 106.38 crore for the quarter ended December 31, 2015.
The scrip opened at Rs. 820 and has touched a high and low of Rs. 820 and Rs. 782.1 respectively. So far 30985(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3638.09 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1497.6 on 20-Jan-2015 and a 52 week low of Rs. 830 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 904.95 and Rs. 830 respectively.
The promoters holding in the company stood at 73.33 % while Institutions and Non-Institutions held 6.45 % and 20.22 % respectively.
The stock is currently trading above its 200 DMA.
Greenply Industries tumbles 3%
The company recorded a rise of 35% in its net profit at Rs. 35.3 crore for the quarter ended December 31, 2015 as compared to Rs. 26.1 crore for the quarter ended December 31, 2014.
The company's total income has increased by 7.29% at Rs.422 crore for the quarter against Rs.393.3 crore in the corresponding quarter of the previous year.
The scrip opened at Rs. 178 and has touched a high and low of Rs. 178.35 and Rs. 171.05 respectively. So far 19854(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2140.9 crore.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 225.9 on 25-May-2015 and a 52 week low of Rs. 152 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 195.5 and Rs. 152 respectively.
The promoters holding in the company stood at 55 % while Institutions and Non-Institutions held 23.29 % and 21.71 % respectively.
The stock is currently trading above its 200 DMA.
Global selloff! Sensex crashes below 24K
The India VIX (Volatility) index is up 11.23% to 20.5000. The breadth too has turned negative - Out of 1,799 stocks traded on the NSE, 1,327 have declined and 203 advanced so far.
At 12:25 PM, the S&P BSE Sensex is trading at 24,045 down 438 points, while NSE Nifty is trading at 7,301 down 134 points.
The BSE Mid-cap Index is trading down 2.14% at 10,020, whereas BSE Small-cap Index is trading down 1.96% at 10,319.
All sectors are showing weakness on BSE. Among sectors - the CNX Metal index has shed 3.7 percent at 160.95. The Media and Realty indices are down 2 percent each, while the Bank Nifty has declined 2.5 percent to 14,894.
Sun Pharma, Infosys, SJVN,Balkrishna Industries, Rajesh Exports and Vakrangee are among the gainers, whereas Tata Steel, RIL, SBI, L&T, Adani Ports, ONGC, ICICI Bank and Axis Bank are losing sheen on BSE.
The India VIX (Volatility) index is up 11.23% to 20.5000. A total of five stocks registered a fresh 52-week high in trades today, while 105 stocks touched a new 52-week low on the NSE.
The breadth too has turned negative - Out of 1,799 stocks traded on the NSE, 1,327 have declined and 203 advanced so far.
Indian Rupee opened at 66.77/$,down 12 paise in early trade on Wednesday as against the previous close of 66.65/$.The Indian Rupee slipped to lowest level since September 2015. On macroeconomic front, IMF has downwardly revised its growth forecasts for the third consecutive time in last 12 months and now projects the world economy to grow at 3.4% in 2016 and 3.6% in 2017, about 2% lower than previous estimates. China's growth is expected at 6.3% in 2016 and 6% next year. Growth outlook for the US has been lowered as well, weighed down by strong US dollar, ensuing weak exports and lower investments in energy sector. US economy is forecasted to grow at 2.6% for 2016 and 2017, down 0.2% from its October forecast. Europe is forecasted to expand by 1.7% this year.
Rallis India hit 52-week low at Rs.142.50 on BSE. The company posted a net profit after taxes and minority interest of Rs. 204.10 mn for the quarter ended December 31, 2015 as compared to Rs. 254.90 mn for the quarter ended December 31, 2014. Total Income has decreased from Rs. 3881.80 mn for the quarter ended December 31, 2014 to Rs. 3111.10 mn for the quarter ended December 31, 2015.Currently, the stock is trading down 3.2% at Rs.144.70.
Axis Bank slipped 2.7% to Rs.382.55 on BSE. The bank is scheduled to announce its December quarter earnings today. According to IIFL estimates, the bank will report net profit around Rs. 2243.9 crore at growth rate of 18.1 % on Y-o-Y basis and 17.1 % on Q-o-Q basis.
BASF India tumbled 4.8% to Rs.799.95 on BSE. The company reported net loss of Rs. 106.38 crore for the quarter ended December 31, 2015. The company’s revenue stood at Rs. 1131.7 crore registering growth of 15.77% yoy.
Axis Bank slips 2.7% ahead of Q3 nos
The bank is scheduled to announce its December quarter earnings today.
The scrip opened at Rs. 387 and has touched a high and low of Rs. 387 and Rs. 378.35 respectively. So far 2614146(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 93527.44 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 655.35 on 04-Mar-2015 and a 52 week low of Rs. 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 410.9 and Rs. 366.65 respectively.
The promoters holding in the company stood at 29.54 % while Institutions and Non-Institutions held 56.66 % and 9.93 % respectively.
The stock is currently trading above its 200 DMA.
Asian stocks bleed; MSCI Asia Pacific ex Japan Index at 15 year low
The panic selling in Asian stocks sparked off after the global energy watchdog warned of oversupply of crude to further intensify economic turmoil.
The panic selling in Asian stocks sparked off after the global energy watchdog warned of oversupply of crude to further intensify economic turmoil. Moreover, slowing down of Chinese GDP added to the misery of Asian stocks.
The Shanghai Composite Index is currently trading 1.38% lower at 2,966.66 points; while the CSI 300 Index is trading 1.64% lower at 3,170.33 points.
Among other Asian markets, Japan’s Nikkei 225 Index is trading 3% lower at 16,552.38 points, Hong Kong’s Heng Seng Index is currently trading 3.92% lower at 18,894.88, Singapore’s Straits Times at 2,570.77 points (-2.63%), Taiwan’s Weighted Index at 7,706.23 points (-1.93%), South Korea’s Kospi Index at 1,836.95 points (-2.87%), Thailand’s SET Composite Index at 1,254.93 points (-0.88%), Indonesia’s Jakarta Composite Index at 4,475.23 points (-0.37%) and Singapore Nifty, better know as SGX Nifty, is currently trading 1.90% lower at 7,298.50 points.
Meanwhile, in India, the S&P BSE Sensex and Nifty 50 index are currently trading 1.78% and 1.73% lower respectively.
Strides Shasun gets CCI nod & other Top Corporate News
Check out the most important news stories which captured the headlines at the corporate level in India and internationally.
Strides Shasun got competition watchdog CCI's approval to acquire seven brands from consumer healthcare firm Johnson and Johnson.
Zensar Tech reported consolidated net profit for Q3 is registered at Rs 71.5 crore vs Rs 91.3 crore QoQ, down by 21.4% while the consolidated Total Income was posted at Rs 762 crore vs Rs 758.6 crore QoQ.
IDFC Bank is in advanced talks to acquire Royal Bank of Scotland's (RBS) corporate banking portfolio in a deal worth up to INR 3,000 crore, reports a business daily.
Century Plyboards acquired 51% stake in a Singapore-registered trading company for Rs. 1.07 crore.
SBI informed Alok Industries that as decided by the Joint Lenders' Forum, Strategic Debt Restructuring has been invoked on the Company with the reference date being November 27, 2015. Further, at its meeting held on January 16, 2016, it has been further decided that the JLF will acquire up to 65% stake in the company by converting its debt into equity.
Ashok Leyland's electric vehicles (EV) arm Optare has taken up a project to increase the range of its MetroCity and Solo buses to 200 miles without intrusion into passenger space, as per media reports.
Atlanta has secured letter of award for four laning of end of Moran Bypass to Bogibeel Junction of NH-37 in the State of Assam under SARDP-NE Package (II).
Looking to add $1bn in revenues from inorganic growth to reach its target turnover of $5bn by 2018, Lupin says it is open to late stage specialty assets.
ITC's instant noodles brand Yippee is inching closer to become a Rs 10bn brand, making the most out of the controversy that hit rival Nestle's Maggi.
The Supreme Court restrained the government from going ahead with any further disinvestment of its stake in Hindustan Zinc Ltd, the management of which is under the control of a Vedanta subsidiary.
Indian Oil Corporation aims to operate its largest grassroot refinery at Paradip at the full 15MTPA capacity from next fiscal, a top company official said.
Godrej Properties said that it has entered into a joint development agreement with Pratap Sarnaik’s Vihang Group to develop 15 acres of land off Ghodbunder Road in Thane.
State Bank of Mysore has raised Rs 2bn by issuing Basel-III compliant bonds.
Precision Camshafts fixed the price band between Rs 180-186 per share for its initial public offer (IPO) which will hit the capital market on January 27.
Reserve Bank holds meeting with banks, NBFCS and ARCs
The meeting reviewed the functioning of the Joint Lenders' Forum (JLF) Mechanism, Flexible Restructuring of Long Term Project Loans, Strategic Debt Restructuring Scheme and regulations on sale of assets by banks to Asset Reconstruction Companies.
The meeting reviewed the functioning of the Joint Lenders' Forum (JLF) Mechanism, Flexible Restructuring of Long Term Project Loans, Strategic Debt Restructuring Scheme and regulations on sale of assets by banks to Asset Reconstruction Companies. The meeting took stock of the way these tools are being used by the banking system and the improvements needed to sharpen their efficacy and ease of use. Several suggestions were made by the participants on the way forward which will be examined.
Reliance Industries, Axis Bank, Zensar Tech among 25 Stocks in focus today
Check out the companies which will be in focus during trade today based on recent and latest news developments.
Zensar Tech: The company reported consolidated net profit for Q3 is registered at Rs 71.5 crore vs Rs 91.3 crore QoQ, down by 21.4% while the consolidated Total Income was posted at Rs 762 crore vs Rs 758.6 crore QoQ.
Axis Bank: The bank will annouce its Q3 result today. According to IIFL estimates, the Net Interest Margin (NIM) is expected to be at 3.8%, a 20.0 bps decrease Y-o-Y while a 10.0 bps decline Q-o-Q.
IDFC Bank:IDFC Bank is in advanced talks to acquire Royal Bank of Scotland's (RBS) corporate banking portfolio in a deal worth up to INR 3,000 crore, reports a business daily.
Indian Bank: The bank will raise Rs. 1,100 crore through Basel-III compliant tier-II bonds.
Century Plyboards: The company acquired 51% stake in a Singapore-registered trading company for Rs. 1.07 crore.
Dhanlaxmi Bank Ltd: The bank has informed BSE that a meeting of the Board of Directors of the Bank scheduled to be held on January 29, 2016, to inter- alia, consider the proposal for raising further equity shares on preferential allotment basis and seek shareholders' approval for the same.
BASF: The company reported net loss of Rs. 106.38 crore for the quarter ended December 31, 2015. The company’s revenue stood at Rs. 1131.7 crore registering growth of 15.77% yoy.
Alok Industries: SBI informed Alok Industries that as decided by the Joint Lenders' Forum, Strategic Debt Restructuring has been invoked on the Company with the reference date being November 27, 2015. Further, at its meeting held on January 16, 2016, it has been further decided that the JLF will acquire up to 65% stake in the company by converting its debt into equity.
Greenply Industries: The company recorded a rise of 35% in its net profit at Rs. 35.3 crore for the quarter ended December 31, 2015 as compared to Rs. 26.1 crore for the quarter ended December 31, 2014.
Ferro Alloys Corporation: The Central Empowered Committee (CEC) submitted a report which concluded that the mining operation in Boula Chromite Mines fell within the Hadgarh Wildlife Sactury. The mining operations are not permissible in that area, as per BSE data.
Ashok Leyland: Ashok Leyland's electric vehicles (EV) arm Optare has taken up a project to increase the range of its MetroCity and Solo buses to 200 miles without intrusion into passenger space, as per media reports.
Triveni Turbine: Triveni Turbine reported standalone net profit of Rs. 27.50 crore for the quarter, registering growth of 16.52% yoy. The Company’s standalone revenue stood at Rs. 197.67 crore, clocking growth of 30.78% yoy.
Reliance Power: Reliance Power Ltd posted a net profit after taxes, Minority Interest and Share of Profit/(Loss) of Associates of Rs. 3518.10 mn for the quarter ended December 31, 2015 as compared to Rs. 2544.40 mn for the quarter ended December 31, 2014.
Spicejet: The airline is set to place a big fleet order and is in talks with both Airbus and Boeing for the same, Chairman Ajay Singh told a Business TV channel in an interview on Monday.
Reliance Infra: The company will announce its Q3 results today. IIFL expects the company’s net profit to fall 4.5% to Rs. 432 crore yoy. The company’s Q3 net profit is likely to plunge 4.2% qoq.
Tata Sponge Iron: The company will announce its Q3 results today. IIFL expects net revenue to plummet 35.70% to Rs. 138 crore yoy. IIFL forecasts the company’s net profit for Q3 FY16 to nosedive to Rs. 5.9 crore, declining at a rate of 64.20% yoy; however, it sees a rise of 3.5% qoq.
KPIT Tech: The IT company will announce its Q3 results today.According to IIFL estimates, the company is expected to report net revenue of Rs. 840 crore at 7.7% growth rate on Y-o-Y basis.
IL&FS Engineering and Construction Company Ltd: The company informed BSE that a meeting of the Board of Directors of the Company will be held on January 23, 2016, inter alia, to consider additional fund raising options including issue of Preference Shares.
JSW Energy: JSW Energy Ltd, the Sajjan Jindal-led firm, will announce its financial results today. IIFL expects the company’s net profit to decline 18% to Rs. 319.60 crore yoy; Q3 net profit is expected to fall 37.2% qoq.
Autoline Industries: The company is eyeing for business with lndian Railways and Ministry of Defence and recently got Vendor Registration from Defence and Railway Authorities.
Atlanta: The company secured letter of award for four laning of end of Moran Bypass to Bogibeel Junction of NH-37 in the State of Assam under SARDP-NE Package (II).
Aegis Logistics: The company will expand gas supply operations in South India, as per media reports.
IOC, HPCL, BPCL: Petrol price in Delhi was increased by 96 paise per litre and diesel by 53 paise.
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