Welspun India Q4 net profit at Rs.193 crore

The company's sales reported its Q4 net profit stood at Rs.1460 crore in Q4 as compared to Rs.1,540 crore in Q3 FY16. 

Welspun India Ltd, Asia's largest and the 2nd largest Terry Towel producers, reported its Q4 net profit stood at Rs.193 crore in Q4 as compared to Rs 71.5 crore in Q3 FY16. The company's sales reported its Q4 net profit stood at Rs.1460 crore in Q4 as compared to Rs.1,540 crore in Q3 FY16.

Stock view:
Welspun India Ltd is currently trading at Rs. 98.6, down by Rs. 0.9 or 0.9% from its previous closing of Rs. 99.5 on the BSE.

The scrip opened at Rs. 100 and has touched a high and low of Rs. 100.9 and Rs. 98.25 respectively. So far 737744(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 9997.02 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 111 on 23-Mar-2016 and a 52 week low of Rs. 35.8 on 27-Apr-2015. Last one week high and low of the scrip stood at Rs. 101 and Rs. 90 respectively.

The promoters holding in the company stood at 73.48 % while Institutions and Non-Institutions held 15.47 % and 11.05 % respectively.

The stock is currently trading above its 50 DMA. 

Reliance Industries buys Iranian oil

The company is looking at ramping up purchases to the earlier levels of about 5 million tonnes a year, says report.

Reliance Industries has acquired crude oil from Iran and is looking to strike long-term fixed quantity deal, according to reports.

Report says that the company is looking at ramping up purchases to the earlier levels of about 5 million tonnes a year.

“Re-established relationship with Iran, sourced crude oil post lifting of sanctions,” the company reportedly said in an investor presentation.

The scrip opened at Rs. 1042.7 and has touched a high and low of Rs. 1044.9 and Rs. 1012.75 respectively. So far 9518286(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 336594.09 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1089.5 on 15-Jan-2016 and a 52 week low of Rs. 819 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 1070 and Rs. 1030.5 respectively.

The promoters holding in the company stood at 45.15 % while Institutions and Non-Institutions held 32.38 % and 19.5 % respectively.

The stock is currently trading above its 50 DMA.

Reliance Inds slips 2%; Q4 cons PAT at Rs. 7398 crore

The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 73980 mn for the Quarter ended March 31, 2016 as compared to Rs. 63810 mn for the Quarter ended March 31, 2015 

Reliance Industries Ltd stock was lower by 2% at Rs. 1019 after the company posted Q4 results.The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 73980 mn for the Quarter ended March 31, 2016 as compared to Rs. 63810 million for the Quarter ended March 31, 2015. 

Total Income has decreased from Rs. 696420 million for the Quarter ended March 31, 2015 to Rs. 620100 mn for the Quarter ended March 31, 2016.

The scrip opened at Rs. 1042.7 and has touched a high and low of Rs. 1044.9 and Rs. 1016 respectively. So far 3609741(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 336594.09 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1089.5 on 15-Jan-2016 and a 52 week low of Rs. 819 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 1070 and Rs. 1030.5 respectively.

The promoters holding in the company stood at 45.15 % while Institutions and Non-Institutions held 32.38 % and 19.5 % respectively.

The stock is currently trading above its 50 DMA.

M&M Financial Services surges 4% on Q4 results

The Group has posted a net profit after taxes and minority interest of Rs. 4113.267 mn for the Quarter ended March 31, 2016 as compared to Rs. 3672.551 mn for the Quarter ended March 31, 2015. 

M&M Financial Services Ltd stock was higher by 5% at Rs.289 after the company posted Q4 results.The Group has posted a net profit after taxes and minority interest of Rs. 4113.267 mn for the Quarter ended March 31, 2016 as compared to Rs. 3672.551 mn for the Quarter ended March 31, 2015.

 Total Income has increased from Rs. 16801.017 mn for the Quarter ended March 31, 2015 to Rs. 19048.755 mn for the Quarter ended March 31, 2016.

The scrip opened at Rs. 289.5 and has touched a high and low of Rs. 293.65 and Rs. 282.25 respectively. So far 1867312(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 15671.91 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. 173.4 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 281.15 and Rs. 261.65 respectively.

The promoters holding in the company stood at 51.93 % while Institutions and Non-Institutions held 43.22 % and 4.85 % respectively.

The stock is currently trading above its 200 DMA.

Asia stocks down​, await Fed, BOJ meetings

The Bank of Japan’s policy meeting on Thursday and Wednesday’s interest rates decision from the Federal Reserve are key developments that will determine how the week will shape up. 

Asian stock market and the dollar edged lower on Monday. The Bank of Japan’s policy meeting on Thursday and Wednesday’s interest rates decision from the Federal Reserve are key developments that will determine how the week will shape up. Markets in Australia and New Zealand are closed for ANZAC day public holiday on Monday.

On the losing front, China’s Shanghai Composite is currently trading 0.66% lower at 3,014.20 points and Taiwan’s Taiex at 2,926.97 points (down 1.17%). 

Japan’s Nikkei 225 index is currently trading 0.76% lower at 17,439.62 points, Singapore’s Straits Times at 2,917.28 points (down 0.8%), Hong Kong’s Hang Seng at 21,369.13 points (down -0.46%), South Korea’s Kospi index at 2,013.86 points (down 0.12%), Thailand’s SET Composite at 1,412.04 points (up 0.09), Indonesia’s Jakarta Composite at 4,908.66 points (down 0.12%) and Singapore Nifty at 7,904 points (down 0.14).

Persistent Systems Q4 net profit at Rs. 808.07mn

Total Income has increased from Rs. 5157.81 mn for the Quarter ended March 31, 2015 to Rs. 7017.42 mn for the Quarter ended March 31, 2016. 

Persistent Systems Ltd posted a net profit after taxes, minority interest and share of profit of associates of Rs. 808.07 million for the Quarter ended March 31, 2016 as compared to Rs. 760.50 mn for the Quarter ended March 31, 2015. 

Total Income has increased from Rs. 5157.81 million for the Quarter ended March 31, 2015 to Rs. 7017.42 mn for the Quarter ended March 31, 2016.

The Group has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 2973.61 million for the year ended March 31, 2016 as compared to Rs. 2906.31 million for the year ended March 31, 2015. 

Total Income has increased from Rs. 19850.67 mn for the year ended March 31, 2015 to Rs. 23907.80 mn for the year ended March 31, 2016.

Live Stock Market Updates – Sensex, Nifty trade flat; telecom, realty gain

The BSE Mid-cap Index is trading up 0.15% at 11,026, whereas BSE Small-cap Index is trading up 0.17% at 11,096. Bharti Airtel, Adani Ports, L&T, Bajaj-Auto, TCS, Dr.Reddy's and Coal India are among the gainers, whereas NTPC, RIL, Tata Steel, HDFC, Lupin, Asian Paints and ONGC are losing sheen on BSE 

At 9:30 AM, the S&P BSE Sensex is trading at 25,847 up 10 points, while NSE Nifty is trading at 7,901 up mere two points.

The BSE Mid-cap Index is trading up 0.15% at 11,026, whereas BSE Small-cap Index is trading up 0.17% at 11,096.

Bharti Airtel, Adani Ports, L&T, Bajaj-Auto, TCS, Dr.Reddy's and Coal India are among the gainers, whereas NTPC, RIL, Tata Steel, HDFC, Lupin, Asian Paints and ONGC are losing sheen on BSE.

Some buying activity is seen in telecom, realty, capital goods and teck sector, while energy, FMCG, oil &gas, utilities and power are showing weakness on BSE.

The INDIA VIX is up 3.23% at 16.9100. Out of 1,782 stocks traded on the NSE, 537 declined, 805 advanced and 440 remained unchanged today.

A total of 10 stocks registered a fresh 52-week high in trades today, while seven stocks touched a new 52-week low on the NSE.

The Indian rupee opened lower by 17 paise at 66.65/$ against US Dollar on Monday as against the previous close of 66.48/$. Indian rupee is expected to lose ground, as weakness is setting in various Asian market currencies. Yen has moved back towards 111 compared with the level of 108 during last week. Chinese Yuan has also weakened, with values now above 7.5 levels in the offshore market. Indian rupee has also depreciated to 66.7 in the overseas NDF market. The domestic unit will remain under pressure due to month‐ end demand for the greenback from the importers.  

Coal mine auctions unlikely in Q1FY17

The Coal Ministry is unlikely to auction mines in the first quarter of FY17 and the strategy for the remaining quarters will depend on demand, reports a business daily. 

The Coal Ministry is unlikely to auction mines in the first quarter of FY17 and the strategy for the remaining quarters will depend on demand, reports a business daily.

It may be recalled that the fourth round of coal mine auctions had to be cancelled in December due to low bidding interests, says the financial newspaper.

There were almost no takers for the coal mines in the fourth round of auction, as supply exceeded demand and global prices too were not supportive.

Nine mines with 1.167 billion tonnes of reserves were on offer in the fourth round.

“Today, the situation has reversed - it is now a demand side problem rather than a supply side one,” Coal Secretary Anil Swarup told the paper.

Increased domestic availability of coal has also helped cut the country’s import bill by INR 28,000 crore through a 15 per cent reduction in volumes. 

Coal India Ltd’s (CIL) additional output in the last two financial years is about 73.98 million tonnes (MT).

In FY16, Coal India produced 42.28 MT more coal, hitting an output of 536.51 MT. 

In addition, Singareni Collieries Company Ltd produced 61 MT in FY16.

Following the Supreme Court’s September 2014 directive to de-allocate 204 coal mines, the Government has been conducting fresh auctions and allocation to the public sector.

Out of the 55 coal mines that were auctioned and allocated last year in three rounds, so far 10 coal mines are operational and have produced anywhere between 10 and 11 MT. 

In all, 28 coal mines were auctioned to the private sector and 27 coal mines allocated to central and state PSUs.

There are still 149 coal mines that can be auctioned to the private sector or allocated to state and central public sector units.

Top 20 stocks in focus today: Ultratech Cement, RIL, Jet Airways

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

Ultratech Cement Ltd: Ultratech Cement Ltd will announce its Q4 numbers today. IIFL estimates that the company’s net profit is expected to increase to Rs. 693 crore, growing at a rate of 12.8% yoy and 36.4% qoq.

RIL: Reliance Industries Ltd reported standalone net profit of Rs. 7,320 crore for the quarter ended March 31, 2016, registering growth of 17.25% yoy and 1.41% qoq. The company said that it was looking to buy more crude oil from Iran.

Cairn India: The company’s consolidated revenue stood at Rs. 1,716.86 crore, down 35.87% yoy and 15.82% qoq. Cairn India has slashed its capital expenditure for FY17 by one-third to US$100 million (~Rs. 660 crore), reports a business daily. In an investor presentation post announcing FY16 earnings, Cairn India said that for FY17, a capex of US$100 million is planned.

Persistent Systems Ltd: The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 808.07 million for the Quarter ended March 31, 2016 as compared to Rs. 760.50 mn for the Quarter ended March 31, 2015. 

Tata Power: Tata Power Ltd has decided to increase the share of its renewable energy output to 30-40% by 2025, up from its earlier target of 20%, MD & CEO Anil Sardana told a domestic news agency.

ONGC: ONGC planning to explore as many as 17 shale gas and oil wells in both east and west coasts with an estimated investment of around Rs. 700 crore, reports a business daily.

L&T: The Blackstone Group is set to buy a million square feet of retail space in L&T Realty Ltd’s Seawoods project in Navi Mumbai for Rs. 1,450 crore, reports a financial newspaper.

Sasken Communication Technologies: Sasken Communication Tech reported consolidated net profit of Rs. 174.63 crore for the quarter ended March 31, 2016, registering growth of 1451.71% qoq and 5866.18% yoy.

Zensar Technologies: Zensar Tech Profit After Tax (PAT) dropped to Rs 70.2 crore in Q4 as compared to Rs 71.5 crore in Q3 FY16. Net revenue of the company was registered at Rs. 746.38 crore in Q4 as against Rs. 756.81 crore in Q3.

Havells India: Havells India marked its entry into entry level modular switches with the launch of its innovative range of switches named “Reo Bliss”.

Bharti Airtel: The country's largest wireless telecom player in terms of subscribers, is considering a final dividend, or a share buyback, or a combination of both for FY16, the company said in a filing.

Jet Airways: The aviation company said it has received shareholders approval for the proposed merger of JetLite with itself. The board of Jet Airways had cleared the proposal to merge JetLite, the low-cost subsidiary with itself, in September last year. 

HDFC Bank: HDFC Bank reported standalone net profit of Rs. 3,374.22 crore for the quarter ended March 31, 2016, registering growth of 20.21% yoy and 0.52% qoq.

TCS: TCS has formed a long term strategic partnership with Vistara.  As per the agreement TCS will provide a broad range of IT services in the area of IT Management, application maintenance and application development to help Vistara achieve its goal in customer experience, operational excellence as well as cost leadership.

Tata Motors: Tata Motors is planning to raise Rs, 300 crore through issuance of non-convertible debentures (NCDs) to meet its expansion plan.

Mahindra & Mahindra Financial Services: The company reported standalone net profit of Rs. 370.27 crore for the quarter ended March 31, 2016, registering growth of 11.06% yoy and 451.27% qoq.

GVK Power: GVK Power & Infrastructure Ltd  handed over its phase I power plant to AP Discoms for a final terminal value of Rs.261.27 Crore.