Piramal Enterprises Q4 net profit came in at Rs.180.24 crore

The exceptional gain of the company came in at Rs.72.4 crore as against Rs.4.3 crore yoy. Total income of the company stood at Rs.6852.35 crore for the year ended March 31, 2016.

Piramal Enterprises posted a net profit after taxes, minority interest and share of profit of associates of Rs.1802.40 mn for the quarter ended March 31, 2016 whereas the same was at Rs. 954 mn for the quarter ended March 31, 2015.

Total income is Rs.17726.90 mn for the quarter ended March 31, 2016 whereas the same was at Rs.13709.50 million for the quarter ended March 31, 2015.

The Group has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 9506 mn for the year ended March 31, 2016 whereas the same was at Rs. 28499.50 million for the year ended March 31, 2015. 

Total income of the company stood at Rs.68523.50 million for the year ended March 31, 2016 whereas the same was at Rs. 53768.00 million for the year ended March 31, 2015.

The exceptional gain stands at Rs.72.4 crore as against Rs.4.3 crore yoy.

The scrip opened at Rs. 1266.5 and has touched a high and low of Rs. 1292 and Rs. 1266.5 respectively. So far 67586(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21803.42 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1305 on 10-May-2016 and a 52 week low of Rs. 805 on 18-Sep-2015. Last one week high and low of the scrip stood at Rs. 1305 and Rs. 1194.8 respectively.

The promoters holding in the company stood at 51.58 % while Institutions and Non-Institutions held 30.47 % and 16.74 % respectively.

The stock is currently trading above its 50 DMA.

Symphony net profit likely to decline in Q4

Symphony, one of the leading consumer goods companies in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on on May 17.

Symphony, one of the leading consumer goods companies in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 17.

IIFL estimates the company’s net profit to be at Rs.34 crore, which constitutes a 28.1% drop qoq and 6.1% yoy.

As per IIFL’s forecast, the company is expected to register a net revenue of Rs.140 crore, declining at 22.9% qoq and 4.0% on yoy basis.

Operating profit margin of the company is likely to be at 30.0%, a fall of 496 bps yoy and 317 bps qoq.

According to IIFL, the past couple of quarters had witnessed lower commodity prices, which benefitted the consumer companies significantly from lower COGS (Cost of Goods Sold) inflation or deflation in some cases. Though raw‐material prices remain benign, headroom for further gross margin expansion in Q4FY16 seems limited compared to Q4FY15. The companies had utilized much of the gross margin expansion for higher brand investments and promotions.

Other key Q4 results on May 17 are Glaxosmithkline Consumer Healthcare, Mahindra Holidays & Resorts, Bharat Forge, MPS Ltd, MT Educare, OCL India, Motherson Sumi Systems, and Voltas Limited.

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.

Motherson Sumi likely to be soft in Q4 performance

Motherson Sumi Systems, one of the leading automobile component players in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 17.

Motherson Sumi Systems, one of the leading automobile component players in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 17.

As per IIFL’s forecast, the company is expected to register a net revenue of Rs.10,310 crore, growing at 4.6% qoq and 8.8% on yoy basis.

Operating profit margin of the company is likely to be at 10.0%, a rise of 44 bps yoy and 12 bps qoq.

IIFL estimates the company’s net profit to be at Rs.330 crore, which constitutes a 7.5% rise qoq, however a decline of 2.9% yoy.

Motherson is expected to be slightly soft in this quarter. According to IIFL estimates, autos are to register strong PAT growth (32.4% yoy) with most major players doing well. Auto volumes were robust across segments, except cars. OPM of most companies under coverage will rise on account of benign commodity prices and operating leverage.

Auto component players are expected to see another quarter of decent growth as revenues rise on the back of good OEM demand and margins expand as a result of benefits of operating leverage. Replacement demand in certain segments such as tyres has also started picking up.

Other key Q4 results on May 17 are Glaxosmithkline Consumer Healthcare, Mahindra Holidays & Resorts, Bharat Forge, MPS Ltd, MT Educare, OCL India, Symphony Limited and Voltas Limited.

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.

Reliance Defence gains 3%; Q4 net profit at Rs. 1024.40 mn

The company posted a net profit of Rs. 1024.40 mn for the quarter ended March 31, 2016 as compared to net loss of Rs.(1582.80) mn for the quarter ended March 31, 2015.

Reliance Defence and Engineering Ltd stock was up by 3% at Rs. 66. The company posted a net profit of Rs. 1024.40 mn for the quarter ended March 31, 2016 as compared to net loss of Rs.(1582.80) mn for the quarter ended March 31, 2015. 

The scrip opened at Rs. 67.45 and has touched a high and low of Rs. 67.45 and Rs. 66.2 respectively. So far 514815(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4785.37 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 114 on 28-Dec-2015 and a 52 week low of Rs. 51.45 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 67.35 and Rs. 64.8 respectively.

The promoters holding in the company stood at 29.9 % while Institutions and Non-Institutions held 14.22 % and 55.88 % respectively.

The stock is currently trading below its 100 DMA.

Central Bank plunges 4%; Q4 net loss at Rs.8980.40mn

Total income decreased from Rs.73215 mn for the quarter ended March 31, 2015 to Rs.67118.80 mn for the quarter ended March 31, 2016.

Central Bank Ltd was lower by 4% at Rs. 74. The bank has posted a net loss of Rs.8980.40 mn for the quarter ended March 31, 2016 compared with a net profit of Rs.1742.90 mn for the quarter ended March 31, 2015.

Total income decreased from Rs.73215 mn for the quarter ended March 31, 2015 to Rs. 67118.80 mn for the quarter ended March 31, 2016.

The scrip opened at Rs. 76.7 and has touched a high and low of Rs. 76.7 and Rs. 74.5 respectively. So far 13906(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 13188.22 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 113.9 on 21-May-2015 and a 52 week low of Rs. 48.2 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 82.95 and Rs. 77 respectively.

The promoters holding in the company stood at 79.94 % while Institutions and Non-Institutions held 15.26 % and 4.8 % respectively.

The stock is currently trading above its 200 DMA.

RIL receives green nod for exploratory drilling project in Tamil Nadu

The company has received nod for carrying out eight additional exploratory well drilling to ascertain reservoir capacity.

RIL has received green nod for exploratory drilling project in Tamil Nadu, according to reports.

Report says that the company has received nod for carrying out eight additional exploratory well drilling to ascertain reservoir capacity.

Reliance Industries has been awarded exploratory rights for hydrocarbons prospecting in the offshore block DY-III-D5 under the New Exploration Licensing Policy-III, says report. 

Report says that RIL has already been given the environment clearance to drill 11 exploratory wells in this block. 

Reliance Industries Ltd ended at Rs. 978, down by Rs. 13.05 or 1.32% from its previous closing of Rs. 991.05 on the BSE.

The scrip opened at Rs. 988 and touched a high and low of Rs. 990.9 and Rs. 975.5 respectively. A total of 3535226(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 316997.79 crore.

The BSE group 'A' stock of face value Rs. 10 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. 992.45 and Rs. 971 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 traded below its 50 DMA.

Aurobindo Pharma gets USFDA nod for Bupivacaine Hydrochloride Injection

The scrip opened at Rs. 785 and has touched a high and low of Rs. 799.1 and Rs. 785 respectively.

Aurobindo Pharma Ltd has received US FDA approval for Bupivacaine Hydrochloride Injection.

Aurobindo Pharma Ltd is currently trading at Rs. 793.5, up by Rs. 7.45 or 0.95% from its previous closing of Rs. 786.05 on the BSE.

The scrip opened at Rs. 785 and has touched a high and low of Rs. 799.1 and Rs. 785 respectively. So far 400661(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 45997.26 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 891.5 on 30-Dec-2015 and a 52 week low of Rs. 582 on 25-Feb-2016. Last one week high and low of the scrip stood at Rs. 823.55 and Rs. 781.75 respectively.

The promoters holding in the company stood at 53.79 % while Institutions and Non-Institutions held 34.67 % and 11.54 % respectively.

The stock is currently trading above its 200 DMA.

Bank of Baroda slumps 5% on Q4 results

The bank has posted a net loss of Rs.32301.40 mn for the quarter ended March 31, 2016 compared with a net profit of Rs.5983.50 mn for the quarter ended March 31, 2015.

Bank of Baroda Ltd stock was lower by 5% at Rs.147. The bank has posted a net loss of Rs.32301.40 mn for the quarter ended March 31, 2016 compared with a net profit of Rs.5983.50 mn for the quarter ended March 31, 2015. 

Total income increased from Rs.120573.90 mn for the quarter ended March 31, 2015 to Rs.127890.60 mn for the quarter ended March 31, 2016.

The scrip opened at Rs. 150.1 and has touched a high and low of Rs. 151.5 and Rs. 147.3 respectively. So far 287103(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 35702.95 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 216.25 on 18-Aug-2015 and a 52 week low of Rs. 109.45 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 160.15 and Rs. 150.9 respectively.

The promoters holding in the company stood at 59.24 % while Institutions and Non-Institutions held 33.8 % and 6.96 % respectively.

The stock is currently trading above its 200 DMA.

BHEL commissions 500 MW Thermal Power plant and other Top Corporate News

Check out the most important news stories, which captured the headlines at the corporate level in India and internationally.

The Centre's green panel has given its nod to Reliance Industries for carrying out eight additional exploratory well drilling to ascertain reservoir capacity and commercial viability of hydrocarbons in the block CY-III-D5 in Bay of Bengal off the coast of Tamil Nadu.

Raymond Ltd is in talks with overseas private equity (PE) funds KKR and Blackstone to sell a 20% stake in its branded apparel business to fund its expansion, reports a business daily.

Mother Dairy is aiming to surpass INR 10,000 crore turnover milestone in the next three years on rising demand for dairy products,  as well as fresh processed fruits & vegetables, reports a business daily.

SRF Ltd is planning to invest INR 3,500 crore over the next four years, 70% of which would go into its fast-growing chemicals business, to cater to rising global demand, MD Ashish Bharat Ram has been quoted as saying.

Coal India would tentatively offer over 79 mn tonnes of coal for e-auction for power producers and also for non-power sector consumers in the August to March period of the current fiscal. 

The Delhi government will soon issue fresh directions to the NTPC-run Badarpur thermal power plant to come up with an action plan for disposing of flyash, a major source of air pollution in summer. 

SAIL will spend around Rs60bn this fiscal on various modernisation and expansion programmes as well as on research and development (R&D) initiatives. 

Bharat Heavy Electricals said that it has commissioned a 660 Mw supercritical thermal unit in Maharashtra.

The government has declined Reliance Power's request to let it mortgage coal blocks attached to Sasan Ultra Mega Power Project (UMPP) in Madhya Pradesh to lenders of the plant that include banks from the US, China and Singapore.

Coal India’s consultancy arm CMPDI has invited applications from global firms for providing consultancy on formulating bid documents with regard to development of underground coal gasification projects.

Aditya Birla Fashion and Retail Ltd said it has signed an exclusive deal to bring London-based designer brand Simon Carter to India.

Sensex, Nifty to open flat with negative bias

WPI data and earnings will continue to be on investors’ radar this week. The results scheduled today are Piramal Enterprises, JK Tyre & Industries, Petronet LNG, Strides Shasun, NBCC, Gujarat Fluorochemicals, Tata Coffee and Mangalam Drugs & Organics.

As elections get underway today in Tamil Nadu, Kerala and Union Territory Puducherry, the BJP will hope to make some inroads in these mini-elections. Weak macroeconomic data dimmed hopes of rate cut next month and that kept market under pressure on Friday. Consumer price inflation, which RBI targets in setting interest rates, rose at a faster-than-expected rate to 5.39% last month in comparison to 4.83% in March. Also, apprehension over tax on capital gains made through P-Notes (Mauritius) has negatively impacted the market. Nifty managed to gain 1% last week to close above 7800 despite factory output clocking marginal 0.1% growth in March.

The outlook is a flat start with a negative bias in early trade. There could be jitters regarding the monsoon after the latest report of the India Meteorological Department indicated that there could be a likely delay in the onset of the Southwest monsoon over Kerala by a week. IMD expects rains to hit Kerala coast on June 7. The results of assembly polls in five states will be announced later this week. WPI data and earnings will continue to be on investors’ radar this week. The results scheduled today are Piramal Enterprises, JK Tyre & Industries, Petronet LNG, Strides Shasun, NBCC, Gujarat Fluorochemicals, Tata Coffee and Mangalam Drugs & Organics.

Finance Minister Arun Jaitley has said there was no ‘serious apprehension’ of investors shifting base to other tax havens and he sees no depletion in FDI flows due to amendments in the treaty with Mauritius, says a report. .

Union Labour Minister Bandaru Dattatreya has said the Employees Provident Fund Organisation ( EPFO ) may invest more than Rs 6,000 crore in equity market during the current financial year.  Last year, EPFO had invested about Rs 6,000 crore through SBI Mutual Fund's two index-linked ETFs (exchange-traded funds) -- one to BSE's Sensex and the other NSE's Nifty, says a report.

Top 20 stocks in focus today: Bank of Baroda, Piramal Enterprises, Raymond

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

Piramal Enterprises: Piramal Enterprises  will announce its Q4 numbers today. Piramal Enterprises’ Consumer Products Division has entered into an agreement to acquire four brands from Pfizer Limited for a consideration of Rs. 110 crores.
 
Bank of Baroda: The bank reported a net loss of Rs 3,230 crore for its fiscal fourth quarter to March 31 compared with a profit of Rs 598 crore a year earlier.

JK Tyre: JK Tyre, one of the leading automobile component players in the country, will announce its Q4 result today. As per IIFL’s forecast, the company is expected to register a net revenue of Rs.1,670 crore, a growth at 3.3% qoq, while a decline of 7.7% on yoy basis.

RIL: RIL has received green nod for exploratory drilling project in Tamil Nadu, according to reports. The company has received nod for carrying out eight additional exploratory well drilling to ascertain reservoir capacity. 

BHEL: BHEL has successfully commissioning a 660 MW supercritical thermal unit in Maharashtra. The unit has been commissioned at Mouda Super Thermal Power Station (STPS) at Mouda in Nagpur district of Maharashtra.

Reliance Defence: Reliance Defence and Engineering Ltd posted a net profit of Rs. 1024.40 mn for the quarter ended March 31, 2016 as compared to net loss of Rs.(1582.80) mn for the quarter ended March 31, 2015. 

United Breweries: The company posted a net profit of Rs. 514.40 mn for the quarter ended March 31, 2016 as compared to Rs. 481.30 mn for the quarter ended March 31, 2015. 

Cairn India: Cairn India Ltd has announced that Cairn India Holdings Limited (CIHL), an overseas subsidiary of Cairn India Limited, has decided to extend maturity of the loan of US$ 1.25 billion, which was given for a term of two years in May, 2014, to THL Zinc Limited (TZL), an overseas subsidiary of Vedanta Limited, for a further period of two years.
 
Glenmark Pharma: Glenmark Pharmaceuticals can sustain strong growth in the US market in FY17 and expects around 10-12 new product launches in the current financial year, reports a business daily.

Dena Bank: The bank has posted a net loss of Rs. 3263.80 million for the quarter ended March 31, 2016 as compared to net profit of Rs. 558.20 million for the quarter ended March 31, 2015. 

Srikalahasthi Pipes: Srikalahasthi Pipes Ltd has begun a project to expand as well as to build new facilities, at an investment of more than Rs. 150 crore, reports a business daily.

Sterlite Tech: Sterlite Technologies Ltd is in talks with telecom carriers to deploy smart networks, which will have a lifespan of up to 25 years as opposed to normal 7-8 years, a top executive has been quoted as saying by a business daily. 

SBI: State Bank of India attached the Kingfisher Villa in Goa, says report. The property has been attached by SBICAP Trustee Company Limited, as part of recovery proceedings for loans given by an SBI-led consortium.
 
Union Bank of India: The bank reported net profit fell to 961.2 million rupees on a standalone basis for the fiscal fourth quarter ending March 31, from 4.44 billion rupees a year earlier.
 
UCO Bank : UCO Bank reported a net loss of Rs 1,715.1 crore for the March quarter on account of surge in bad loans.
 
Cadila Healthcare: Cadila Healthcare reported a 10.93 per cent rise in net profit at Rs 388.7 crore for the fourth quarter ended March 31.
 
Allahabad Bank: The bank’s standalone NII stood at Rs. 1,273.70 crore, down 12.57% yoy and 10.06% qoq.

Raymond Ltd: Raymond Ltd is in talks with overseas private equity (PE) funds KKR and Blackstone to sell a 20% stake in its branded apparel business to fund its expansion, reports a business daily.

Ahluwalia Contracts India Ltd: The company has secured new projects worth of Rs. 492.65 Crores for construction of institutional and commercial building, including Electrical, Plumbing and Firefighting services.

Manappuram Finance: Manappuram Finance expects 20 per cent growth in the consolidated loan book, besides the topline and the bottomline in FY17, MD & CEO, V.P. Nandakumar has been quoted as saying.

GMR Infrastructure: GMR Rajahmundry Energy Ltd, a subsidiary of GMR Infrastructure has announced that considering the absence of long term Fuel Supply Agreement and long term Power Purchase Agreements (PPA), the consortium of lenders of GREL have adopted the Strategic Debt Restructuring Plan, as provided under the scheme permitted by the RBI.