IndusInd Bank: Q4 numbers expected to be impressive

IIFL estimates the bank’s net revenues to soar to Rs.1,247 crore, growing at 35% yoy and 6% qoq.

IndusInd Bank, one of the leading private sector banks in India, will announce its financial results on April 21 for the fourth quarter ended March 31, 2016.

IIFL estimates the bank’s net revenues to soar to Rs.1,247 crore, growing at 35% yoy and 6% qoq.

As per IIFL’s forecast, the bank’s net profit for Q4 FY16 is expected to surge to Rs.653 crore, at a rate of 32% yoy and 12% qoq. 

Net Interest Margin is likely to be at 3.9%, with a yoy rise of 18 bps.

According to IIFL, Q4 FY16 will continue to reflect the disparity in loan growth between the private and public banks. Most of the large private banks are estimated to report impressive loan growth ranging between 20-30% yoy. An established and sizeable retail lending franchise, widening distribution, high capital base and prudent aggression is enabling private banks to outgrow the system thus garnering market share at fast clip. On the other hand, most PSU Banks are expected to report lack luster credit growth of <10% yoy due to their high reliance on corporate loans, weak capital position and a guarded approach underpinned by prevailing asset quality issues.

Our preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines.

Other key Q4 results on April 21 include Hindustan Zinc, Supreme Industries, and Cyient Ltd. 

RBI launches Quarterly Industrial Outlook Survey: April-June 2016

The Industrial Outlook Survey with a good size/industry representation gives an insight into the perception of the public and private limited companies engaged in manufacturing activities about their own performance and prospects. 

The Reserve Bank of India has launched the 74th round of the quarterly Industrial Outlook Survey (IOS) for reference period April-June 2016 (Q1:2016-17). M/s Centre for Research Planning and Action (CERPA), New Delhi has been authorised to conduct the survey for this quarter on behalf of the Reserve Bank of India.

The Industrial Outlook Survey with a good size/industry representation gives an insight into the perception of the public and private limited companies engaged in manufacturing activities about their own performance and prospects. The assessment of business sentiments for the current quarter and expectations for the ensuing quarter are based on qualitative responses to 23 major indicators covering overall business situation, financial situation, demand indicators, price and employment expectations, profit margins, etc. 

Top 15 stocks in focus today: TCS, HDFC, Suzlon Energy

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

TCS: TCS reported consolidated net profit of Rs. 6,413.12 crore for the quarter ended March 31, 2016, registering growth of 5.42% qoq and 72.74% yoy.

HDFC: HDFC Standard Life announced that the board of directors of the insurance major have approved to initiate IPO process wherein the parent HDFC Ltd would sell 10% stake.

Suzlon Energy: Suzlon Energy has announced that it has acquired the following companies, Gale Solarfarms Private Limited, Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited to implement various renewable energy projects across the country, including the recently won solar projects in Maharashtra of 70 MW.

Nestle India: Nestle India Ltd said that Maggi has now gained more than 50 per cent market share in the category, based on a Nielsen report.

SpiceJet: SpiceJet has upgraded its summer schedule with 4th additional frequency on Delhi – Chandigarh, 3rd additional frequency on Delhi – Dharamshala and 2nd additional frequency on Delhi – Amritsar.

Tata Communications: Tata Communications announced it will be expanding its partnership with Asian Television Network Canada, to bring the network’s content to Canadian viewers, with potential for further international expansion.

Mastek: The company registered consolidated net profit of Rs 5.9 crore in Q4 as compared to Rs. 0.8 crore. The consolidated annual net profit for FY16 stood at Rs. 13.74 crore as against Rs. 17.73 crore yoy.

Monte Carlo Fashions: Monte Carlo Fashions Ltd is investing Rs. 15 to 20 crore to open 20 exclusive brand stores in FY17, reports a business daily.

CRISIL: The company. has posted a net profit of Rs. 78.6 crore for the quarter ended March 31, 2016 as compared to Rs. 56.3 crore for the quarter ended March 31, 2015.

ARSS Infra: ARSS Infrastructure Projects has informed BSE that a work order amounting to Rs. 64.73 crores namely "Widening & Strengthening of Jamujhadi - Basudevpur - Dhamara Road (S.H) to 2 Lane without paved shoulder from 18/800 Km to 22/750Km & from 27/100Km to 60/470 km" is awarded in favour to the Company 'ARSS Infrastructure Projects Limited' by Office of the Executive Engineer Bhadrak (R&B) Division, Bhadrak on April 18, 2016.

BEML: BEML has signed a Memorandum of Understanding (MoU) with Dredging Corporation of India Ltd for indigenous design, development and manufacture of spares for dredgers.

DCB Bank: Development Credit Bank (DCB Bank) is confident of growing its loan book by 23-25 per cent per annum and double it in 36-48 months, CEO & MD Murali M Natrajan has been quoted as saying.

Ashok Leyland: Ashok Leyland Ltd surpassed industry sales in goods and passenger categories with a growth rate of nearly 49 per cent in each of the segments, reports a business daily.

Nalco: Nalco has declared an interim dividend of 25%, i.e. Rs.1.25 per share of Rs.5 each, amounting to Rs.322.16 crore for the financial year 2015-16, on the paid-up equity share capital of Rs.1288.62 crore.

Religare Enterprises: Religare Enterprises Ltd has entered into a definitive agreement to divest its stake in Northgate Capital LLC and Northgate Capital LP, US based affiliates, which are part of its alternatives focused global asset management business, and their subsidiaries ("Northgate”). REL holds its stake in Northgate through its step-down subsidiary, Religare Global Asset Management Inc., USA.

RIL: Reliance Industries Ltd has began test production of coal bed methane (CBM) gas from two of its blocks, according to reports.

TVS Motor: TVS Motor Company has announced the launch of an all-new version of its executive segment bike TVS Victor, says report.

CMI: CMI has received approval from Indian Railways to supply Hard Drawn Contact Wire and Catenery Wire used in Electric Traction of trains at 25 KV.

Tata Motors: Tata Motors has received over 1 lakh enquiries for new Tiago, according to reports.

Wipro Q4 earnings: Revenues likely to surge 11% yoy

IIFL estimates that the Azim Premji-led company’s net revenues are likely to soar to Rs. 13,530 crore, growing at 11.4% yoy and 5.2% qoq. 

Wipro Ltd, one of India’s largest information technology services providers, will announce its financial results on April 20 for the fourth quarter ended March 31, 2016.

IIFL estimates that the Azim Premji-led company’s net revenues are likely to soar to Rs. 13,530 crore, growing at 11.4% yoy and 5.2% qoq.

As per IIFL’s forecast, the company’s net profit for Q4 FY16 is expected to increase to Rs. 2,442 crore, at a rate of 7.5% yoy and 9.3% qoq. 

Operating Profit Margin is likely to be at 22%, with a yoy fall of 69 bps.

IIFL is of the view that Wipro, while being impacted the most from oil price fall owing to much higher exposure to Energy vertical, is estimated to deliver strong growth of 2.8% qoq in cc terms. This would be driven by acceleration in execution on some large deals won over the past 12‐18 months.

IIFL has an overall positive investment view on the IT sector. With valuation reasonable for most players, patchy trend in growth seems to be adequately captured. In our view, well‐placed companies should be able to deliver 14‐15% cc dollar revenue growth over the next couple of years. The impact of pricing pressure on margin is likely to be mitigated by focus on employee productivity and expected gradual rupee depreciation.

Other key Q4 results on April 20 include Jay Bharat Maruti and VST Industries. 

ICICI Bank hikes stake in IVRCL to 11.43%

ICICI Bank has hiked its stake in IVRCL Limited to 11.43% by acquiring 39.91 mn shares, according to reports. 

ICICI Bank has hiked its stake in IVRCL Limited to 11.43% by acquiring 39.91 mn shares, according to reports.

ICICI Bank Ltd is currently trading at Rs. 237.9, up by Rs. 1.15 or 0.49% from its previous closing of Rs. 236.75 on the BSE.

The scrip opened at Rs. 238.95 and has touched a high and low of Rs. 239.4 and Rs. 237.2 respectively. So far 945506(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 137667.58 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 337.35 on 06-May-2015 and a 52 week low of Rs. 180.8 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs. 244.1 and Rs. 224.1 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 62.68 % and 8.65 % respectively.

The stock is currently trading above its 200 DMA.

Dr. Reddy’s announced US availability of ZEMBRACE SymTouch

ZEMBRACE SymTouch is a prefilled, low-dose, ready-to-use, 2-step autoinjector containing 3 mg of sumatriptan, a selective 5-HT1B/ID receptor agonist. Because ZEMBRACE SymTouch is a subcutaneous injection, it may lead to rapid relief of migraine. 

Promius Pharma LLC, a subsidiary of Dr. Reddy’s Laboratories has announced that ZEMBRACE SymTouch is now commercially available in the U.S.

ZEMBRACE SymTouch is a prefilled, low-dose, ready-to-use, 2-step autoinjector containing 3 mg of sumatriptan, a selective 5-HT1B/ID receptor agonist. Because ZEMBRACE SymTouch is a subcutaneous injection, it may lead to rapid relief of migraine.

Migraineurs often have more than one kind of attack. Different types of medications can be used to treat different types of attacks. “ZEMBRACE SymTouch is a welcome addition to the toolkit for acute treatment of migraine” said Roger Cady, MD, Associate Executive Chairman of the National Headache Foundation.

“This 3-mg, easy to-use subcutaneous injection of sumatriptan may be desired by many migraine patients who need a medication that can rapidly treat migraine attacks. Also, the 3-mg dose allows for up to 4 doses of ZEMBRACE SymTouch in a 24-hour period, thus allowing dosing flexibility for patients,” added Cady. 

ZEMBRACE SymTouch is available as a box of 4 autoinjectors.