Hindustan Zinc Q3 net profit at Rs.1811 crore; EBITDA Margin at 43.1%

The total income for the quarter was at Rs.3430. 6 crore.

Hindustan Zinc Ltd posted results for the third quarter ended 31st December, 2015.

The net profit for the quarter stands at Rs. 1811 crore.

The total income for the quarter was at Rs.3430. 6 crore.

EBITDA for the quarter stands at Rs.1,478 crore. 

EBITDA Margin was at 43.1%

Hindustan Zinc Ltd is currently trading at Rs. 137.7, down by Rs. 1.2 or 0.86% from its previous closing of Rs. 138.9 on the BSE.

The scrip opened at Rs. 136.1 and has touched a high and low of Rs. 141.25 and Rs. 136.1 respectively. So far 713760(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 58689.42 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 190.4 on 19-Feb-2015 and a 52 week low of Rs. 117.2 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 142.5 and Rs. 135.8 respectively.

The promoters holding in the company stood at 64.92 % while Institutions and Non-Institutions held 33.13 % and 1.95 % respectively.

The stock is currently trading above its 200 DMA.

M&M Financial Q3 net profit at Rs. 67.2 crore

The total income for the quarter was at Rs.1,400 crore as against Rs.1,386 Cr (YoY).

M&M Financial Ltd posted results for the third quarter ended 31st December, 2015.

The net profit for the quarter stands at Rs. 67.2 crore.

The total income for the quarter was at Rs.1,400 crore as against Rs.1,386 Cr (YoY).

The standalone NII was at Rs.730.7 crore.

The scrip opened at Rs. 218.75 and has touched a high and low of Rs. 221.5 and Rs. 210.4 respectively. So far 2759623(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12512.5 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 294 on 07-Jul-2015 and a 52 week low of Rs. 214.7 on 20-Jan-2016. Last one week high and low of the scrip stood at Rs. 235.5 and Rs. 214.7 respectively.

The promoters holding in the company stood at 52 % while Institutions and Non-Institutions held 43.46 % and 4.54 % respectively.

The stock is currently trading above its 200 DMA.

Alembic Pharma Q3 net profit at Rs.269.5 crore; sales up 80.2%

The company's total income has increased by 80.6% at Rs. 924.5 crore for the quarter against Rs. 511.9 crore in the corresponding quarter of the previous year.

Alembic Pharmaceuticals Ltd reported a 281% increase in net profit at Rs.269.5 crore for the third quarter that ended on December 31, 2015.

The company had reported a net profit of Rs.70.7 crore for the corresponding quarter last year, it  said in a filing to the BSE.

Net sales in third quarter stood at Rs.921 crore, up 80.2% from Rs.511 crore in the year-ago period.

The company's total income has increased by 80.6% at Rs. 924.5 crore for the quarter against Rs. 511.9 crore in the corresponding quarter of the previous year.

On a standalone basis,the company has posted a net profit of Rs. 280.1 crore for the quarter ended December 31, 2015 as compared to Rs. 73.9 crore for the quarter ended December 31, 2014. Total Income has increased from Rs. 502.1 crore for the quarter ended December 31, 2014 to Rs. 900.5 crore for the quarter ended December 31, 2015.

Stock Commentary:

Alembic Pharmaceuticals Ltd is currently trading at Rs. 619, up by Rs. 31.45 or 5.35% from its previous closing of Rs. 587.55 on the BSE.

The scrip opened at Rs. 604 and has touched a high and low of Rs. 630.7 and Rs. 601.05 respectively. So far 393030(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11075.32 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 791.7 on 15-Jul-2015 and a 52 week low of Rs. 381.9 on 26-Feb-2015. Last one week high and low of the scrip stood at Rs. 671 and Rs. 573.55 respectively.

The promoters holding in the company stood at 74.13 % while Institutions and Non-Institutions held 12.6 % and 13.28 % respectively.

The stock is currently trading above its 100 DMA.

Sudan offers ONGC Videsh 3 more oil & gas blocks

Report says that Sudan invited Indian firms to set up a coastal refinery to boost fuel supplies to the African continent.

Sudan has offered ONGC Videsh Ltd three more oil and gas blocks for exploration and production, according to reports.

Report says that Sudan invited Indian firms to set up a coastal refinery to boost fuel supplies to the African continent. 

OVL, the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), already has a 25 per cent stake in Greater Nile Oil Project (GNOP) in Sudan.

Mahindra Holidays down 2%

The Holiday Club Resorts Oy, Finland, step-down subsidiary of the Company, has increased its stake in Saimaa Gardens Arena Oy, Finland, ( SGA ), from 24% to 100% and consequently SGA became wholly owned subsidiary of HCR and in turn of the Company w.e.f. January 19, 2016.

Mahindra Holidays and Resorts India Ltd was down by 2% at Rs. 350.  The Holiday Club Resorts Oy, Finland, step-down subsidiary of the Company, has increased its stake in Saimaa Gardens Arena Oy, Finland, ( SGA ), from 24% to 100% and consequently SGA became wholly owned subsidiary of HCR and in turn of the Company w.e.f. January 19, 2016.

The scrip opened at Rs. 360 and has touched a high and low of Rs. 366 and Rs. 348.05 respectively. So far 25590(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3161.9 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 474.95 on 23-Dec-2015 and a 52 week low of Rs. 231.7 on 04-Jun-2015. Last one week high and low of the scrip stood at Rs. 391.8 and Rs. 350 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 13.09 % and 11.91 % respectively.

The stock is currently trading above its 50 DMA.

Tata Steel signs agreement with Quebec govt to develop iron ore deposits

This undertaking should lead to a decision, before 31 March 2016, with respect to a government participation in the direct shipping ore project (DSO Project) in Schefferville area, in the North Shore region.

In the framework of the World Economic Forum in Davos, the Premier of Quebec, Philippe Couillard, accompanied by the Minister of the

Economy, Innovation and Exports, Jacques Daoust, announced the signing of an agreement-in-Principle between the Government of Quebec and TS Global Minerals Holdings, a Tata Steel group company.

This undertaking should lead to a decision, before 31 March 2016, with respect to a government participation in the direct shipping ore project (DSO Project) in Schefferville area, in the North Shore region. Parties also agreed to cooperate in creating favorable conditions in the transit activities of iron ore from Arnaud Junction to the multi-user dock of the Port of Sept-Iles.

“To date, Tata Steel Group has demonstrated its social responsibility by ensuring the participation of local communities in the execution of its project, and in particular, the participation of Aboriginal communities. It is in fact one of the key principles of the Plan Nord and one of the motivating factors for us to undertake discussions with a view tobecoming a key partner in the development of the Company’s deposits”, said the Premier Philippe Couillard.

Tata Steel through its subsidiary Tata Steel Minerals Canada is completing a direct shipping ore project in Schefferville, in which the company has invested more than C$1bn. The company plans to develop its DSO deposits in Quebec with the Government

of Quebec.

“Further to creating considerable economic benefits for Quebec, the DSO Project is contributing to the revival of the Town of Schefferville, with among others, significant investments in the community infrastructure. The mining company is also a partner in the construction of the multi-user dock of the Port of Sept-Iles and a strong ally in maintaining industrial activities in the North Shore Region”, emphasized Minister Jacques Daoust.

MMTC soars 2.2%; sells 10% stake in ICEX

MMTC has divested its 10% equity stake in its JV Company i.e. Indian Commodity Exchange Ltd. amounting to Rs. 10 crores face value at a sum of Rs. 20 crores to the two bidders who participated in the Global Tender Process floated by the Company earlier.

MMTC soared 2.2% to Rs.39.75 on BSE. MMTC has divested its 10% equity stake in its JV Company i.e. Indian Commodity Exchange Ltd. amounting to Rs. 10 crores face value at a sum of Rs. 20 crores to the two bidders who participated in the Global Tender Process floated by the Company earlier. The necessary transfer of shares to the bidders took place on January 19, 2016. The Company has a stake of 16% in ICEX as on date.

The scrip opened at Rs. 39.25 and has touched a high and low of Rs. 40.4 and Rs. 39.1 respectively. So far 252887(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3890 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 63 on 19-Feb-2015 and a 52 week low of Rs. 38 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 44 and Rs. 38.05 respectively.

The promoters holding in the company stood at 89.93 % while Institutions and Non-Institutions held 6.08 % and 4 % respectively.

The stock is currently trading above its 200 DMA.

Idea Cellular drops 2% ahead of Q3 results

The third largest telecom operator of the country will announce its financial results for the quarter ended December 2015 on Thursday, January 21.

Idea Cellular traded 2 % down at Rs. 115.10 ahead of Q3 FY16 results. The third largest telecom operator of the country will announce its financial results for the quarter ended December 2015 on Thursday, January 21.

Analyst speculate a drag in telecom performance with Idea Cellular putting up a poor show. The Net Profit is likely to see a decline of 5.2% Y-o-Y to Rs. 767.1 crore. 

The scrip opened at Rs. 118.05 and has touched a high and low of Rs. 119.95 and Rs. 114.7 respectively. So far 1191114(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 42286.22 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 203.9 on 17-Apr-2015 and a 52 week low of Rs. 109.6 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 122.5 and Rs. 109.6 respectively.

The promoters holding in the company stood at 42.25 % while Institutions and Non-Institutions held 29.18 % and 28.58 % respectively.

The stock is currently trading above its 200 DMA.

Axis Bank surges 4%; Q3 net profit up 15%

The bank recorded a rise of 15% in its net profit at Rs.2,175 crore for the quarter ended December 31, 2015 as compared to Rs.1,889.7 crore for the quarter ended December 31, 2014.

Axis Bank stock was higher by 4% at Rs. 404 after the company posted Q3 results.

The bank recorded a rise of 15% in its net profit at Rs.2,175 crore for the quarter ended December 31, 2015 as compared to Rs.1,889.7 crore for the quarter ended December 31, 2014.

The banks total income has increased by 14.6% at Rs.12,531.1 crore for the quarter against Rs.10,928.8 crore in the corresponding quarter of the previous year.

The scrip opened at Rs. 398.3 and has touched a high and low of Rs. 412.4 and Rs. 398.3 respectively. So far 7038062(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 92476.94 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. 399.5 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.

Rupee opens higher by 11 paise at 67.86 against US Dollar

On the global front, US dollar traded on a steady note against the Euro and British Pound, however surged higher against other emerging market currencies.

Indian Rupee opened at 67.86/$,up 11 paise in early trade on Thursday as against the previous close of 67.95/$. On Wednesday, Indian rupee tumbled against the greenback, with values moving well above 68 levels. Sharp sell‐off in domestic equities and concerns over persistent foreign capital outflows took a toll on Indian rupee.

On the global front, US dollar traded on a steady note against the Euro and British Pound, however surged higher against other emerging market currencies. In this respect, Russian ruble collapsed to a new low of 80, impacted by the descent in oil prices. Mexican peso also fell to a record low of 18.47, down by 6.5% on YTD basis. Brazilian real weakened further as the country's central bank stated that it may abandon plans to hike interest rates to combat inflation. Economists project that Brazil's recessionary conditions will aggravate and stability in the economy can be restored only once political concerns mitigate.

In China,PBOC injected more cash in the banking system through open‐market operations in order to soothe the liquidity crunch in light of persistent capital outflows and also increasing demand for cash ahead of the Lunar New Year holiday.

On Wednesday, the rupee ended at 67.95/$, weaker by 30 paise from its previous close of 67.65/$ on Wednesday. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.97 and for Euro stood at 74.48 on January 20, 2016. While, the RBI’s reference rate for the Yen stood at 58.24, the reference rate for the Great Britain Pound (GBP) stood at 96.2016.

Vedanta cuts value of bond buyback programme to US$227.4mn

Bonds that had been tendered at an offer price at or below the set purchase price (US$91) had been accepted in full, Vedanta said in a statement to the London Stock Exchange (LSE).

Vedanta Resources has cut the value of its bond repurchase programme to US$227.4 million from the US$500-million figure it had announced last week, reports a business daily.

The buy-back which began on 11th January ended on 18th January. It is set to be settled on Wednesday.

The repurchase was done via a Dutch auction.

The offer accounted for around three per cent of the company’s total outstanding debt.

Bonds that had been tendered at an offer price at or below the set purchase price (US$91) had been accepted in full, Vedanta said in a statement to the London Stock Exchange (LSE).

“While Vedanta Resources has not stated any intention on further buybacks, additional discounted note repurchases may be treated as distressed exchange when viewed in combination with the current proposed transaction,” senior Moody’s analyst Kaustubh Chubai wrote in an investor note.

In November last year, Moody’s downgraded Vedanta Resource’s corporate family rating to BA2 from Ba1, and its senior unsecured ratings to B1 from Ba3, with a negative outlook for both.

Idea Cellular, Axis Bank, UltraTech Cement among 20 Stocks in focus today

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

Idea Cellular: Idea Cellular will announce its Q3 results. The top telco’s Net Revenue is likely to touch Rs. 9,097 crore as per IIFL estimates recording a 13.5% growth Y-o-Y and a 4.7% rise Q-o-Q.

Axis Bank: The bank recorded a rise of 15% in its net profit at Rs.2,175 crore for the quarter ended December 31, 2015 as compared to Rs.1,889.7 crore for the quarter ended December 31, 2014.

Reliance Infrastructure: Reliance Infrastructure reported its Q3 net profit at Rs. 462.7 crore.The total income for the quarter stands at Rs. 3,932.5 crore as compared to Rs. 4,371.4 Cr (YoY).

UltraTech Cement: 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.

TVS Motor: TVS Motor is confident of gaining market share in the motorcycles segment with the launch of two new models targeting commuters and the youth, reports a financial newspaper. The company on Wednesday unveiled a new TVS Victor in the commuter segment and a TVS Apache RTR 200.

NCC,Gayatri Projects:  NCC Ltd, along with Gayatri Projects Ltd and its unit Gayatri Infra Ventures Ltd, has signed an agreement to sell 100% of their shareholding in Western UP Tollway Ltd to Cube Highways and Infrastructure Pte Ltd for Rs.575 crore.

Vedanta: Vedanta Resources has cut the value of its bond repurchase programme to US$227.4 million from the US$500-million figure it had announced last week, reports a business daily.

Titan Company: Titan Company, which on Wednesday forayed into the smartwatch segment, plans to launch a payment facility similar to Apple Pay, reports a business daily.

Chambal Fertilizers: The company will announce its Q3 results. According to IIFL, the fertilizer major’s net revenue is expected to rise 16.8% to Rs. 3,298 crore yoy; Q3 net revenue is expected to surge 19.8% qoq.

Exide Ind: The company will announce its Q3 results.  IIFL estimates that the company’s PAT is likely to surge 44.80% to Rs. 140.70 crore yoy; however, Q3 PAT is expected to decline 9.8% qoq.

GSFC: The company will announce its Q3 results. IIFL expects net revenue to soar 9% to Rs. 1,426 crore yoy; however, Q3 net revenue is expected to plunge 19.1% qoq.

Rcom: Reliance Communications (RCom) paid an aggregate amount of Rs. 5383.84 crore as liberalization fee to Department of Telecommunications (DoT).

DHFL: The company reported a 16.3% increase 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. 

JSW Energy: The net profit for the quarter was at Rs. 321 crore. The total income for the quarter stands at Rs. 2649 crore.
Hindustan Zinc:The company will announce its Q3 results.  IIFL expects net revenue to fall 10.8% to Rs. 3,435 crore yoy; Q3 net revenue is expected to plunge 14.8% qoq.

Gati Ltd: The company has posted a net profit of Rs. 7.7 crore for the quarter ended December 31, 2015 as compared to Rs. 11.4 crore for the quarter ended December 31, 2014. 

KPIT Technologies: KPIT Technologies reported a 13% increase in consolidated net profit at Rs.73.5 crore for the third quarter that ended on December 31, 2015.

Triveni Engineering:Triveni Engineering & Industries reported net profit at Rs.14.1 crore for the third quarter that ended on December 31, 2015.

Edelweiss Financial Services : The company 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. 

Tata Elxsi: Tata Elxsi reported a 39.5% increase in standalone net profit at Rs. 39.9 crore for the third quarter that ended on December 31, 2015.

South Indian Bank: The bank recorded a rise of 16% in its net profit at Rs. 102 crore for the quarter ended December 31, 2015 as compared to Rs. 87.9 crore for the quarter ended December 31, 2014.