Birla Sun Life Mutual Fund launches FinGo

The launch of BSLMF FinGo follows the recent introduction of the 3-step eKYC from Birla Sun Life Mutual Fund, and is part of the company’s continued efforts to make the experience of mutual fund investing simpler, easier and more convenient for investors.

Birla Sun Life Asset Management Company Limited, a part of Aditya Birla Financial Services Group and investment manager for Birla Sun Life Mutual Fund (BSLMF), announced the launch of a user-friendly mobile application - FinGo offering users ease and convenience across a wide variety of services. Users can now use Birla Sun Life Mutual Fund FinGo to monitor their investments with Birla Sun Life Mutual Fund (BSLMF), perform seamless transactions on the go, post their queries, and service requests among a host of other conveniences. BSLMF FinGo is available for download on Google Play Store.

Speaking on the launch of BSLMF FinGo, A. Balasubramanian, Chief Executive Officer, Birla Sun Life Asset Management Company said, “Birla Sun Life Mutual Fund FinGo is our way to simplify mutual fund processes with digitization, to enhance its appeal across a wider set of users, and non-users across geographies. The app hosts smart, in-built features such as Quick Transact which allows users to save and repeat their favourite transactions. With its wide variety of services and utility, I am confident that BSLMF FinGo will add great value to our investors, as well as distribution partners.”

The launch of BSLMF FinGo follows the recent introduction of the 3-step eKYC from Birla Sun Life Mutual Fund, and is part of the company’s continued efforts to make the experience of mutual fund investing simpler, easier and more convenient for investors.

BSLMF FinGo is packed with functionalities ranging from Exploring investments, Investing and Transacting, Reviewing Investments, Calculators, Views and Updates and Services to name a few. Users can plan for their financial goals, browse through information of products from BSLMF, go through Fund Factsheets, invest, transact, review their investments, link folios, post queries, make service requests, and subscribe to notifications such as NFO, Dividend, or NAV updates. Users can also stay updated with views and information from BSLMF through Fund Manager Views, and Informative videos.

Free fall continuous in Wockhardt post poor Q3 results

Wockhardt posted a net profit after taxes, minority interest and share of profit of associates of Rs. 60.97 crore for the Q3FY16 as compared to Rs. 347.25 crore for the Q3FY15.

Shares of Wockhardt are currently trading 2.65% lower at Rs. 740.65 on BSE after the company last week posted poor Q3 results for the quarter ended December 31, 2015.

Wockhardt posted a net profit after taxes, minority interest and share of profit of associates of Rs. 60.97 crore for the Q3FY16 as compared to Rs. 347.25 crore for the Q3FY15. Total Income decreased from Rs. 1,376 crore for the quarter ended December 31, 2014 to Rs. 1,116.58 crore for the quarter ended December 31, 2015.

Sensex, Nifty consolidate gains

The INDIA VIX is down 9.59% at 22.3050. Out of 1,798 stocks traded on the NSE, 190 declined, 1,348 advanced and 260 remained unchanged today.

The Indian stock market rally on the back of firm global markets. Today, top gainers from NSE are Bank of Baroda, Vedanta, Tata Steel, Hindalco, Adani Ports, SBI, L&T, Axis Bank, Tata Motors and PNB.

The market continues to trade on a gung-ho note, on the back of strong gains in – metal, realty, capital goods, oil and gas, energy and auto shares.

At 1:27 PM, the S&P BSE Sensex is trading at 23,567 up 581 points, while NSE Nifty is trading at 7,167 up 186 points.

In broader market is out-performing the BSE headline index, the Midcap has gained over 3.49 percent at 9,950 and the Smallcap index has advanced 3.58 percent at 10,028.

Among Nifty gainers - Bank of Baroda and Vedanta have rallied over 10 percent each at Rs. 134 and Rs. 70.10. Tata Steel, Hindalco have jumped over 5 percent each at Rs.237.80 and Rs. 65.16, respectively.

Tata Steel, SBI, L&T, Coal India, Adani Ports and Tata Motors are among the gainers, whereas Bharti Airtel, HUL, Dr.Reddy's and Asian Paints are losing sheen on BSE.

The INDIA VIX is down 9.59% at 22.3050. Out of 1,798 stocks traded on the NSE, 190 declined, 1,348 advanced and 260 remained unchanged today.

A total of four stocks registered a fresh 52-week high in trades today, while 43 stocks touched a new 52-week low on the NSE.

Indian Rupee opened higher by 5 paise at 68.19/$ in early trade on Monday as against the previous close of 68.23/$. On Friday, Indian rupee scaled higher against the greenback, helped by modest recovery in the domestic equities. On macroeconomic side, US retail sales during January grew in line with the expectations at 0.2%, while core retail sales (excluding auto) were reported at.1%. In Europe, Eurozone Q4 GDP readings came in +.3% on q‐o‐q basis, while rising 1.5% on yoy basis. Germany's Q4 GDP rose by 0.3% on q‐o‐q and 2.1% on y‐o‐y basis. However, Eurozone industrial production numbers disappointed, falling 1% on mom basis.

Marksans Pharma slipped 7% to Rs.44.70 on BSE. The pharma company reported consolidated net profit of Rs.17.93 crore for the quarter ended December 31, 2015, registering decline of 35.29% yoy. The company’s revenue stood at Rs. 217.51 crore, up 1.97% yoy but down 14.88% qoq.

Bank of Baroda soared 11.5% to Rs.127.50 on BSE. The bank has posted a net loss of Rs. 3,342 crore for the quarter ended December 31, 2015 as compared to net profit of Rs. 333 crore for the quarter ended December 31, 2014.  The bank's Net Interest Income (NII) stood at  Rs. 2705.34 crore, registering decline of 17.67% yoy and 16.61% qoq.

NMDC surged 9.6% to Rs.85.80 on BSE. The company has fixed February 25, 2016 as the Record Date for the purpose of Payment of First Interim Dividend for the financial year 2015-16.  The company reported standalone net profit of Rs.655.04 crore for the quarter ended December 31, 2015, registering decline of 58.88% yoy.


Tata Motors jumped 2% to Rs.304.65 on BSE. The company is believed to be working on reducing the engine size for its diesel vehicles to circumvent the sales ban imposed by the Supreme Court in Delhi-NCR, reports a business daily. The Mumbai-based company is looking to downsize engines to below 2,000cc (2 litre) for its models, according to the financial newspaper.

ITC gained 1% to Rs.303.05 on BSE. The company is planning to invest Rs. 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state, ITC Chairman and Managing Director Y C Deveshwar reportedly said at Make in India event. The hotel property will come up in Bhubaneshwar, while the food processing park details are being worked out, report added.

IndoSpace to invest over $1 billion in India over next 5 years

The company has robust plans to fund and expand its 17 industrial real estate projects across the country to support manufacturing, consumer and 3PL (third-party logistics) companies operating in India’s rapidly growing economy.

IndoSpace, India’s leading developer of industrial & logistics parks, plans to invest $1 billion in the country in the next five years to take its total investment to $1.75 billion. This additional investment will increase its development pipeline from 20 million square feet to 50 million square feet.

“In addition to growth in consumption and e-commerce, we see India’s great manufacturing potential being unlocked by the government’s Make In India program. This requires world-class industrial and logistics real estate, and as pioneers and leaders in this asset class we will continue to invest aggressively,” said Rajesh Jaggi, Managing Partner – Everstone Real Estate,  and Co-CEO of IndoSpace.

Currently, IndoSpace, a joint venture between Everstone Group and Realterm, operates world-class industrial and logistics parks in Pune, the National Capital Region, Bengaluru and Chennai. The company has robust plans to fund and expand its 17 industrial real estate projects across the country  to support manufacturing, consumer and 3PL (third-party logistics) companies operating in India’s rapidly growing economy.

“It is critical that the enabling infrastructure such as land and facilities to manufacture and store goods are in place as India’s manufacturing engine gathers speed,” said Brian Oravec, CEO of IndoSpace, on the side-lines of Swedish Prime Minister Stefan Lofven’s visit to Pune on Sunday, where the premier reviewed Swedish company Ericsson’s site at IndoSpace Chakan I’s sprawling 1.7 million square foot industrial complex.

”Our aim as the leader in this space is to do our part to ensure that the required infrastructure is in place to make in India with ease,” added Oravec. 

IndoSpace Chakan I, which is located at Chakan, a prime industrial hub near Pune, houses Ericsson, as well as other leading global companies including Bosch, DHL, Leoni, Steelcase, Kubota and Delphi.

IndoSpace’s announcement comes as the high-profile ‘Make in India’ week is underway in Mumbai, where Lofven and other foreign heads of governments, as well as top Indian and international corporate leaders, are congregating.
 

Sun Pharma up 2%; may approach US FDA for re-inspection of Halol

The company expects to approach the US FDA for a re-inspection of its Halol site by the first quarter of financial year 2017, Sun Pharma management reportedly said on investor call.

Sun Pharmaceutical Ltd stock was up by 2% at Rs. 863. The company expects to approach the US FDA for a re-inspection of its Halol site by the first quarter of financial year 2017, Sun Pharma management reportedly said on investor call.

The scrip opened at Rs. 853 and has touched a high and low of Rs. 867.1 and Rs. 853 respectively. So far 1721919(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 204169.51 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1200.7 on 07-Apr-2015 and a 52 week low of Rs. 706.4 on 24-Nov-2015. Last one week high and low of the scrip stood at Rs. 884.25 and Rs. 803.55 respectively.

The promoters holding in the company stood at 54.97 % while Institutions and Non-Institutions held 35.25 % and 9.77 % respectively.

The stock is currently trading below its 200 DMA.

KNR Constructions Q3 net profit at Rs.32.80 crore

The company reported a 120% increase in standalone net profit at Rs.32.80 crore for the third quarter that ended on December 31, 2015.

KNR Constructions reported a 120% increase in standalone net profit at Rs.32.80 crore for the third quarter that ended on December 31, 2015.

During the quarter under review, operating profit stood at Rs. 46.55 crore for the quarter, clocked growth of 55.06% yoy. The company’s revenue stood at Rs. 218.55 crore, up 2.34%.

Stock commentary:

KNR Constructions Ltd is currently trading at Rs. 477, up by Rs. 30.8 or 6.9% from its previous closing of Rs. 446.2 on the BSE.

The scrip opened at Rs. 462.3 and has touched a high and low of Rs. 485 and Rs. 462.3 respectively. So far 2484(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1254.71 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 651.75 on 19-Nov-2015 and a 52 week low of Rs. 350 on 24-Feb-2015. Last one week high and low of the scrip stood at Rs. 501.3 and Rs. 408 respectively.

The promoters holding in the company stood at 60.75 % while Institutions and Non-Institutions held 27.2 % and 12.05 % respectively.

The stock is currently trading above its 200 DMA.

NMDC surges 9.6% after announcing dividend

The company reported standalone net profit of Rs.655.04 crore for the quarter ended December 31, 2015, registering decline of 58.88% yoy.

NMDC surged 9.6% to Rs.85.80 on BSE. The company has fixed February 25, 2016 as the Record Date for the purpose of Payment of First Interim Dividend for the financial year 2015-16.  The company reported standalone net profit of Rs.655.04 crore for the quarter ended December 31, 2015, registering decline of 58.88% yoy.

The scrip opened at Rs. 86.55 and has touched a high and low of Rs. 87 and Rs. 82.1 respectively. So far 2811555(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 31202.19 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 146.15 on 16-Feb-2015 and a 52 week low of Rs. 75.2 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 86.05 and Rs. 75.2 respectively.

The promoters holding in the company stood at 80 % while Institutions and Non-Institutions held 17.56 % and 2.43 % respectively.

The stock is currently trading above its 200 DMA.

Tata Steel zooms 10%

Tata Steel’s European boss will join thousands of steelworkers in a protest against “unfair” practices by Chinese firms, says report.

Tata Steel Ltd stock was up by 10% at Rs. 239.

Report says that Tata Steel’s European boss will join thousands of steelworkers in a protest against “unfair” practices by Chinese firms.

Tata Steel Ltd is currently trading at Rs. 239.35, up by Rs. 21.5 or 9.87% from its previous closing of Rs. 217.85 on the BSE.

The scrip opened at Rs. 220 and has touched a high and low of Rs. 242.5 and Rs. 220 respectively. So far 3426287(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21157.93 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 384.2 on 06-May-2015 and a 52 week low of Rs. 200 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 243.8 and Rs. 211.3 respectively.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 38.79 % and 29.86 % respectively.

The stock is currently trading above its 200 DMA.

HDIL gains 8% on Q3 results

The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 929.50 mn for the quarter ended December 31, 2015 where as the same was at Rs. 672.90 mn for the quarter ended December 31, 2014.

HDIL stock was up by 3% at Rs. 62.The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 929.50 mn for the quarter ended December 31, 2015 where as the same was at Rs. 672.90 mn for the quarter ended December 31, 2014. 

Total Income is Rs. 3290.90 million for the quarter ended December 31, 2015 where as the same was at Rs. 3594.80 million for the quarter ended December 31, 2014.

Housing Development & Infrastructure Ltd is currently trading at Rs. 62.1, up by Rs. 4.55 or 7.91% from its previous closing of Rs. 57.55 on the BSE.

The scrip opened at Rs. 59.4 and has touched a high and low of Rs. 62.45 and Rs. 58.95 respectively. So far 4023116(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2411.35 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 143 on 13-Apr-2015 and a 52 week low of Rs. 54.25 on 04-Sep-2015. Last one week high and low of the scrip stood at Rs. 77.95 and Rs. 55.6 respectively.

The promoters holding in the company stood at 36.16 % while Institutions and Non-Institutions held 45.48 % and 18.36 % respectively.

The stock is currently trading above its 200 DMA.

RBI and Central Bank of UAE sign MoU to consider Currency Swap agreement

Terms and conditions of the Agreement will be firmed up through technical level discussions between the two central banks.

The Reserve Bank of India, in consultation with the Government of India, signed a Memorandum of Understanding (MoU) with the Central Bank of the United Arab Emirates to consider entering into a bilateral Currency Swap Agreement subject to the concurrence of the respective Governments.

Terms and conditions of the Agreement will be firmed up through technical level discussions between the two central banks.

The MoU to this effect was signed by Governor Dr. Raghuram G. Rajan on behalf of the Reserve Bank and Governor H.E. Mubarak Rashed Al Mansoori on behalf of the Central Bank of United Arab Emirates at the Reserve Bank headquarters in Mumbai.

The proposed agreement will further strengthen the close economic relationship and cooperation between India and the United Arab Emirates.

Sun Pharma, Tata Motors, Bank of Baroda, 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.

 Tata Motors: Tata Motors is believed to be working on reducing the engine size for its diesel vehicles to circumvent the sales ban imposed by the Supreme Court in Delhi-NCR, reports a business daily.

Sun Pharmaceuticals Industries: Sun Pharmaceuticals Industries , multinational pharmaceutical conglomerate, reported consolidated net profit of Rs. 1,416.60 crore for the quarter ended December 31, 2015, registering growth of 258.33% yoy.

Bank of Baroda: The bank has posted a net loss of Rs. 3,342 crore for the quarter ended December 31, 2015 as compared to net profit of Rs. 333 crore for the quarter ended December 31, 2014.

ITC: ITC is planning to invest Rs. 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state, ITC Chairman and Managing Director Y C Deveshwar reportedly said at Make in India event.

NMDC: NMDC, state-controlled mineral producer, reported standalone net profit of Rs.655.04 crore for the quarter ended December 31, 2015, registering decline of 58.88% yoy.

Nestle India: Nestle India Ltd, One of the largest food company in the world, reported standalone net profit of Rs.183.19 crore for the quarter ended December 31, 2015, registering decline of 43.87% yoy.

Suven Life Sciences: Suven Life Sciences , suppliers of bulk chemicals for life sciences companies, reported standalone net profit of Rs.17.71 crore for the quarter ended December 31, 2015, registering decline of 45.05% yoy.

CEAT: The company’s consolidated revenue stood at Rs. 1,380.13 crore, down 2.08% yoy and 2.08% qoq.

Sun TV Network: Sun TV Network, Tamil satellite television station, reported standalone net profit of Rs. 215.59 crore for the quarter ended December 31, 2015, registering growth of 0.68% yoy.

HDIL: Housing Development and Infrastructure Ltd posted a net profit of Rs. 929.50 mn for the quarter ended December 31, 2015 where as the same was at Rs. 672.90 mn for the quarter ended December 31, 2014.

IOC: The company’s standalone revenue stood at Rs. 83,461.89 crore, down by 22.05% yoy and 2.25% qoq.

Oil India: The company’s standalone revenue stood at Rs. 2,341.56 crore, up 6.69% yoy but down 7.5% qoq.

Dynamatic Technologies: Dynamatic Technologies reported net profit at Rs. 2.45 crore for the quarter ended December 31, 2015.

BPCL: The company’s standalone revenue stood at Rs. 46,666.62 crore, down  by 19.43% yoy but up by 0.42% qoq.

Balkrishna Industries: The company’s standalone revenue stood at Rs. 749.82 crore, down 21.92% yoy and 4.71% qoq.

Goodluck Steel Tubes: The company’s standalone revenue stood at Rs. 236.01 crore, down 9.79% yoy and 5.46% qoq.

Gayatri Projects: Gayatri Projects, specialty in infrastructure, power, hospitality, real estate and industry, reported standalone net profit of Rs. 12.16 crore for the quarter ended December 31, 2015, registering growth of 345.91% yoy and 66.87% qoq.

UCO Bank: UCO Bank posted a net loss of Rs. 14970.10 mn for the quarter ended December 31, 2015 as compared to net profit of Rs. 3035.90 million for the quarter ended December 31, 2014.

Future Retail: Future Retail Ltd posted a net profit of Rs. 146.80 mn for the quarter ended December 31, 2015 as compared to Rs. 53.20 million for the quarter ended December 31, 2014.

KNR Constructions: The company’s standalone revenue stood at Rs. 218.55 crore, up 2.34% yoy and 0.74% qoq.

Aditya Birla Fashion & Retail: Aditya Birla Fashion & Retail, Indian premium clothing retail chain, reported standalone net profit of Rs.7.43 crore for the quarter ended December 31, 2015, registering decline of 87.88% qoq.

Tilaknagar Industries: The company’s consolidated revenue stood at Rs. 125.04 crore, down 38.19% yoy but up 26.29% qoq.

Corporation Bank: Corporation Bank, public sector banking company headquartered in Mangalore,  reported standalone net loss of Rs. 388.37 crore for the quarter ended December 31, 2015, against net profit of Rs. 147.20 crore in the corresponding quarter of the previous year and Rs. 188.60 crore in the preceding quarter.

Rolta India: Rolta India has reported results for the quarter ended December 31, 2015:
The company recorded a fall of 38.7% in its net profit at Rs.46.9 crore for the quarter ended December 31, 2015 as compared to Rs.76.6 crore for the quarter ended December 31, 2014.

Ahluwalia Contracts (India): Ahluwalia Contracts (India), India's leading Civil Contractors, reported standalone net profit of Rs. 19.83 crore for the quarter ended December 31, 2015, registering growth of 46.08% yoy.

Godrej Industries: Godrej Industries Ltd posted a net profit of Rs. 1389.70 mn for the quarter ended December 31, 2015 where as the same was at Rs. 906.50 mn for the quarter ended December 31, 2014.

Punj Lloyd: The company’s standalone revenue stood at Rs. 1,007.84 crore, down 21.15% yoy and 0.1% qoq.

Monnet Ispat & Energy: Monnet Ispat & Energy's standalone net loss widened to Rs.479.17 crore for the quarter ended December 31, 2015 compared to Rs. 242.81 crore in the corresponding quarter of the previous year and Rs. 394.71 crore in the preceding quarter.

Kolte Patil Developers: The company’s consolidated revenue stood at Rs. 164.59 crore, down by 25.35% yoy but up by 6.17% qoq.

MBL Infrastructures: The company’s consolidated revenue stood at Rs. 691.80 crore, up by 27.62% yoy and 67.68% qoq.

Sensex rallies 300 points; Nifty above 7,050

The BSE Mid-cap Index is trading up 1.90% at 9,797, whereas BSE Small-cap Index is trading up 1.81% at 9,857.

At 9:18 AM, the S&P BSE Sensex is trading at 23,295 up 308 points, while NSE Nifty is trading at 7,072 up 101 points.

The BSE Mid-cap Index is trading up 1.90% at 9,797, whereas BSE Small-cap Index is trading up 1.81% at 9,857.

Global cues are supporting the cause with Asian markets mostly higher except for China which has lost weight as its market resumed after the week-long Lunar New Year holiday.  There is no basis for sustained yuan weakness thanks to China’s large current account surplus and China has no intention to boost net
exports through a large devaluation of yuan, Zhou Xiaochuan, the People’s Bank of China‘s long-time Governor told Chinese financial magazine Caixi.

Meanwhile, Foreign funds have offloaded shares worth around Rs. 3000 crore last week and even in the debt market they were net sellers. Results on tap are Opto Circuits (India), Valecha Engineering, Advanced Micronic Devices, Alang Industrial Gases, Aarey Drugs & Pharmaceuticals.

Mic Electronics and RKB Agro Industries will consider allotment of convertible equity shares today while   DCB Bank and Kesoram Industries will consider raising of funds.

The rupee could see some weakness but will attempt a recovery. RBI governor was quoted as saying that there is a case for some rupee fall till inflation eases.

The country’s top 10 most valued companies as it shaved off over Rs 1.83 lakh crore from their combined market valuation, says a report.

Finance minister Arun Jaitley reportedly said he will shortly announce a "series of banking reforms" without elaborating. Public sector banks have been declaring poor results as the central bank has been pressurizing them to clean up their books by setting aside money against bad loans.

Kumar Mangalam Birla and Anand Mahindra spoke about need to bring in new technology and digitization to the manufacturing sector

Radha Mohan Singh said that the country’s farmers can be benefitted only when the new agricultural technologies are utilized by them at the field level. Our Prime Minister clearly told that the country’s development is not possible until our village and farmers are not developed, he added.

Westlife Development Ltd. plans to more than double McDoland's outlets from 223 across 29 cities to nearly 500 over the next few years, reports a business daily.

The Maharashtra government and Japan have finalised an agreement whereby Japan will fund 80% of the INR 17,750 crore trans-harbour project connecting Mumbai and Navi Mumbai, reports a business daily.

Tata Steel India Managing Director TV Narendran stated that the first phase of Kalinganagar plant in Odisha is scheduled to start commercial production at the beginning of next financial year, says report.

AirAsia India CEO Mittu Chandilya is not quitting the airline, AirAsia Group chief Tony Fernandes reportedly said today as he announced that the 2-year old Indian carrier would “shortly” add two aircraft as part of its fleet expansion plans.

The Maharashtra government and Japan have finalised an agreement whereby Japan will fund 80% of the INR 17,750 crore trans-harbour project connecting Mumbai and Navi Mumbai, reports a business daily.

Chief Minister Devendra Fadnavis and Japan International Cooperation Agency (JICA) agreed at the Make-In-India event on Saturday that the project will add two rescue lanes and convert 4 km stretch of the project into steel-only structure instead of earlier plan of cement and concrete bridge, according to the financial newspaper.

The telecom ministry has proposed a 10-year tax holiday for mega projects in the sector as part of its recommendations for the upcoming Union Budget that are aimed at attracting fresh investments for the Make in India programme.