Gujarat Pipavav Port Q4 net profit at Rs.49.8 crore

Total Income decreased from Rs. 1931.166 million for the quarter ended March 31, 2015 to Rs. 1674.620 mn for the quarter ended March 31, 2016.

Gujarat Pipavav Port Ltd posted a net profit of Rs. 498.316 mn for the quarter ended March 31, 2016 compared with Rs. 668.855 mn for the quarter ended March 31, 2015. Total Income decreased from Rs. 1931.166 million for the quarter ended March 31, 2015 to Rs. 1674.620 mn for the quarter ended March 31, 2016.

The Company posted a net profit of Rs. 2366.570 mn for the year ended March 31, 2016 compared with Rs. 3872.805 million for the year ended March 31, 2015. Total Income has decreased from Rs. 9070.804 mn for the year ended March 31, 2015 to Rs. 6847.590 million for the year ended March 31, 2016.

EBITDA margin of the company stood at 61.6%.

Gujarat Pipavav Port Ltd is currently trading at Rs. 161.95, down by Rs. 0.25 or 0.15% from its previous closing of Rs. 162.2 on the BSE.

The scrip opened at Rs. 161.65 and has touched a high and low of Rs. 164.25 and Rs. 160 respectively. So far 105570(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7841.4 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 242 on 16-Jul-2015 and a 52 week low of Rs. 136.6 on 30-Dec-2015. Last one week high and low of the scrip stood at Rs. 164.15 and Rs. 157.65 respectively.

The promoters holding in the company stood at 43.01 % while Institutions and Non-Institutions held 50.46 % and 6.54 % respectively.

The stock is currently trading below its 200 DMA.

Dishman Pharma Q4 cons net profit at Rs.50 crore

The total income of the company came in at Rs.422.1 crore as against Rs.423.7 crore yoy.

Dishman Pharma Q4 cons net profit stood at Rs.50 crore, whereas consolidated EBITDA margin stood at 24.8%.

The total income of the company stood at Rs.422.1 crore as against Rs.423.7 crore yoy.

Dishman Pharmaceuticals and Chemicals Ltd is currently trading at Rs. 169, up by Rs. 8.1 or 5.03% from its previous closing of Rs. 160.9 on the BSE.

The scrip opened at Rs. 161.8 and has touched a high and low of Rs. 169.95 and Rs. 161.8 respectively. So far 746945(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2596.83 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 209.85 on 04-Nov-2015 and a 52 week low of Rs. 63.03 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 168.05 and Rs. 155.35 respectively.

The promoters holding in the company stood at 61.4 % while Institutions and Non-Institutions held 25.21 % and 13.39 % respectively.

The stock is currently trading below its 50 DMA.

Lupin Q4 net profit at Rs.807 crore

Total Income is Rs.42065.90 mn for the quarter ended March 31, 2016 where as the same was at Rs.30953.50 million for the quarter ended March 31, 2015.

Lupin posted a net profit after taxes and minority interest of Rs. 8070.80 mn for the quarter ended March 31, 2016 where as the same was at Rs. 5470.10 mn for the quarter ended March 31, 2015. 

Total Income is Rs. 42065.90 mn for the quarter ended March 31, 2016 where as the same was at Rs. 30953.50 million for the quarter ended March 31, 2015.

The Group has posted a net profit after taxes and minority interest of Rs. 22706.90 million for the year ended March 31, 2016 where as the same was at Rs. 24032.40 mn for the year ended March 31, 2015. 

Total Income is Rs. 143961.70 mn for the year ended March 31, 2016 where as the same was at Rs. 130097.60 million for the year ended March 31, 2015.

 EBITDA margin of the pharma major stood at 32.7%.

The Board of Directors of the Company at its meeting held on May 19, 2016, recommended dividend @ 375% i.e. Rs. 7.50 per equity share of the face value of Rs. 2/- each for the year ended March 31, 2016, subject to approval of the members at the ensuing Annual General Meeting.

Lupin Ltd is currently trading at Rs. 1663.1, up by Rs. 30.65 or 1.88% from its previous closing of Rs. 1632.45 on the BSE.

The scrip opened at Rs. 1650 and has touched a high and low of Rs. 1679 and Rs. 1643.5 respectively. So far 1671001(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 73574 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2127 on 06-Oct-2015 and a 52 week low of Rs. 1294.05 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs. 1646 and Rs. 1572.6 respectively.

The promoters holding in the company stood at 46.52 % while Institutions and Non-Institutions held 42.27 % and 11.22 % respectively.

The stock is currently trading above its 200 DMA.

Ujjivan Financial to invest Rs.300cr in tech over 5 yrs

The micro-finance institution (MFI), Ujjivan Financial Service said in a disclosure to BSE that it will invest Rs.300 crore in technology over the next five years.

The micro-finance institution (MFI), Ujjivan Financial Service said in a disclosure to BSE that it will invest Rs.300 crore in technology over the next five years.

Ujjivan Financial Services Ltd is currently trading at Rs.263.9, up by Rs. 6.5 or 2.53% from its previous closing of Rs. 257.4 on the BSE.

The scrip opened at Rs. 258 and has touched a high and low of Rs. 265.2 and Rs. 256.75 respectively. So far 2670310(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3043.53 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 261 on 17-May-2016 and a 52 week low of Rs. 217.05 on 10-May-2016. Last one week high and low of the scrip stood at Rs. 261 and Rs. 234.55 respectively.

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

The stock is currently trading above its 200 DMA.

CESC Ltd net profit to plunge yoy

CESC Ltd, one of the leading electric utilities companies in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on on May 19.

CESC Ltd, one of the leading electric utilities companies in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on on May 19.

IIFL estimates the company’s net profit to be at Rs.136 crore, which constitutes a rise of 21.4% qoq but a drop of 44.3% yoy.

As per IIFL’s forecast, the company is expected to register a net revenue of Rs.1,375 crore, falling at 10.6% qoq and 2.9% on yoy basis.

Operating profit margin of the company is likely to be at 25.0%, a growth of 562 bps qoq, while a drop of 671 bps yoy.

Owing to weakness in power generation, revenues for most power generation companies would be depressed on qoq basis. Also the margins should be under pressure owing to increase in input costs. Prices of key commodities which are involved in the development and operation of power projects have witnessed marginal pick up during the quarter.

The availability of water and fuel, financial strength of State Electricity Boards and availing timely environmental clearances are the key challenges for the sector.

Other key quarterly results on May 19 include Action Construction, Hawkins, Dishman, ENIL, Esab India Ltd, Gujarat Pipavav Port, Igarashi Motors, ICRA, Indian Hume Pipe Company Ltd, IRB Infrastructure Developers Ltd, Lupin, Pidilite, Sobha Developers, Wabco India, and ZF Steering.

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.

YES Bank partners with BankBazaar.com for loan products

BankBazaar.com will be featuring YES BANK loan products including personal loans, home loans and car loans on its website.

YES Bank, India’s fifth-largest private bank, announced an agreement with BankBazaar.com, India’s leading financial marketplace, to showcase its Retail Assets products on the financial website. To begin with, BankBazaar.com will be featuring YES BANK loan products including personal loans, home loans and car loans on its website. All the products will be integrated over the next two weeks and are scheduled to go live by the end of this month.

“YES BANK is a bank that has shown such tremendous growth in a short span of 12 years. So we are very excited to partner with a bank that we believe has its finger on the pulse of the BFSI ecosystem. We are confident that this would be a mutually beneficial partnership for both the organizations”, said Adhil Shetty, BankBazaar.com co-founder and CEO. “In today’s world, it is impossible for any broad-based business to survive without a definitive online presence. BankBazaar.com gives banks the freedom to optimize their online presence and make their products available to a larger tech-savvy audience with the least amount of worry over technology and process integration. With BankBazaar.com doing all that, banks can concentrate on their core competencies and still receive all the technology advantages with much smaller investment in terms of both time and money.”

Speaking about the partnership, Pralay Mondal, Senior Group President, said, “The partnership with BankBazaar.com allows YES BANK to be present at a channel where our customers are present and comparing retail loan products. This presence will also allow YES BANK to showcase its best-in-class differentiated product suite and highlight our unique customer proposition in the retail assets segment.

YES BANK was established in 2004 and over the last 12 years, it has grown to become the fifth largest private bank in the country. This partnership will allow YES BANK to showcase its comprehensive product suite and best-in-class offerings for online customers. With this partnership with BankBazaar.com, the bank looks to expand its customer reach further by tying up with a financial marketplace that sees over 9 million visitors a month. 

This partnership takes the number of financial companies featured on BankBazaar.com to more than 85. These include the biggest names in the Indian BFSI sector, both public and private sector.

Wabco India net profit likely to surge yoy

Wabco India, 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 19.

Wabco India, 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 19.

As per IIFL’s forecast, the company is expected to register a net revenue of Rs.461 crore, growing at 20.3% yoy and 0.7% on qoq basis.

Operating profit margin of the company is likely to be at 17.2%, a rise of 249 bps yoy and 24 bps qoq.

IIFL estimates the company’s net profit to be at Rs.52 crore, which constitutes a rise of 0.8% qoq 70.8% yoy.

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 quarterly results on May 19 include Action Construction, CESC Ltd, Dishman, ENIL, Esab India Ltd, Gujarat Pipavav Port, Hawkins, ICRA, Indian Hume Pipe Company Ltd, IRB Infrastructure Developers Ltd, Lupin, Pidilite, Sobha Developers, Igarashi Motors India, and ZF Steering.

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.

Corporation Bank down 4%

The company has posted a net loss of Rs.511 crore for the quarter ended March 31, 2016 compared with net profit of Rs.45.1 crore for the quarter ended March 31, 2015.

Corporation Bank Ltd was lower by 4% at Rs.36. The company has posted a net loss of Rs.511 crore for the quarter ended March 31, 2016 compared with net profit of Rs.45.1 crore for the quarter ended March 31, 2015. 

The scrip opened at Rs. 37 and has touched a high and low of Rs. 37.2 and Rs. 35.95 respectively. So far 143058(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3875.22 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 59 on 19-May-2015 and a 52 week low of Rs. 30.75 on 25-Feb-2016. Last one week high and low of the scrip stood at Rs. 38.25 and Rs. 36.5 respectively.

The promoters holding in the company stood at 67.2 % while Institutions and Non-Institutions held 26.6 % and 6.19 % respectively.

The stock is currently trading below its 200 DMA.

Sun TV Network plunges 8%

Sun TV Network Ltd was lower by 8% at Rs.392. The stock traded higher yesterday, as most exit polls had predicted a DMK victory. However, as AIADMK is leading today, the stock has plunged on the bourses.

Sun TV Network Ltd was lower by 8% at Rs.392. The stock traded higher yesterday, as most exit polls had predicted a DMK victory. However, as AIADMK is leading today, the stock has plunged on the bourses.

The scrip opened at Rs. 438 and has touched a high and low of Rs. 438 and Rs. 384.8 respectively. So far 1770218(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 16848.89 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 436.35 on 17-May-2016 and a 52 week low of Rs. 256.05 on 22-Jul-2015. Last one week high and low of the scrip stood at Rs. 436.35 and Rs. 365.6 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 19.72 % and 5.28 % respectively.

The stock is currently trading above its 200 DMA.

Apple, Reliance to enter long-term relationship

These decisions were taken at a lunch meeting lasted for more than two hours at Mukesh Ambani's residence, says report.

Apple CEO Tim Cook and a team of top Reliance Industries executives agreed to forge a long-term relationship, according to reports.

Report says that this relationship includes supplying a couple of million VoLTE iPhones that will work on Reliance Jio upcoming 4G network as well as deploying an enterprise solution.

These decisions were taken at a lunch meeting lasted for more than two hours at Mukesh Ambani's residence, says report.

Report also added that RIL was represented by his son Akash Ambani, his close friend and confidant Manoj Modi as well as by Sanjay Mashruwala and Pankaj Pawar. 

Weak start! Rupee opens at 67.15/$

The rupee fell against US Dollar on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market.

The Indian rupee opened lower by 18 paise at 67.15/$ against US Dollar on Thursday as against the previous close of 66.97/$. The rupee breaches to 67-mark. The rupee fell against US Dollar on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market.

On Wednesday, the Indian currency ended lower by 10 paise at 66.97/$. The local unit had hit a high of 67.23 and a low of 67.28. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.91 and for Euro stood at 75.48. The RBI’s reference rate for the Yen stood at 61.25; reference rate for the Great Britain Pound (GBP) stood at 96.6091.

On the global front, Minutes from the Federal Reserve's last policy meeting indicated that a rate hike in June cannot be ruled out if the upcoming economic data is favourable.

“Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2% objective, then it likely would be appropriate for the Committee to increase the target range for the federal-funds rate in June,” the minutes said.

ONGC Videsh to set up oil trading desk abroad

The company, which is traditionally into the business of oil & gas exploration & production, proposes to set up this vertical once it has sizeable hydrocarbon volumes to sell, says the financial newspaper.

ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, is looking to set up a crude oil trading vertical soon, reports a business daily. OVL is in talks with international players to set up the desk overseas.

The company, which is traditionally into the business of oil & gas exploration & production, proposes to set up this vertical once it has sizeable hydrocarbon volumes to sell, says the financial newspaper.

"We aspire and aim to develop our own marketing capability to capture better value of our hydrocarbons and whatever we produce - actually a downward integration to capture better value for our produce,” OVL MD Narendra K Verma told the paper.

"This is a purely commercial decision for OVL. Right now, OVL sells its crude through a tendering process, which has its own problems. Having a trading desk will make the task easier," he added.

From its 14 producing assets OVL has produced 4.137 million tonnes of oil and 2.558 billion cubic metre of gas for the first nine months of FY16, which was close to the year-ago period (4.144 mt of oil and 2.419 bcm of gas).

Lupin, Spicejet results in focus

The key quarterly results on May 19 include are Action Construction, Spicejet, CESC Ltd, Dishman, ENIL, Esab India Ltd, Gujarat Pipavav Port, Hawkins, ICRA, Igarashi Motors India Ltd, Indian Hume Pipe Company Ltd, Lupin, Pidilite, Sobha Developers.

The key quarterly results on May 19 include Lupin, CESC, Cochin Minerals & Rutile, Twentyfirst Century Management Services, Action Construction Equipment, Ajmera Realty & Infra India, AGC Networks, Alstone Textiles, Asian Star, Cybertech Systems And Software, Deep Industries, Dishman Pharmaceuticals & Chemicals, Entertainment Network (INDIA) Ltd, Esab India, Future Consumer Enterprise, Ghcl, Gujarat Lease Financing, Galaxy Entertainment Corporation, Gujarat State Petronet.

Hawkins Cookers, Hindustan Fluorocarbons, Icra , Oxides & Specialities, Man Infraconstruction, Igarashi Motors India, Indian Hume Pipe, I-Power Solutions India, Infinite Computer Solutions, Irb Infrastructure Developers, Maharashtra Polybutenes, Pidilite Industries, Rane Engine Valve, Rico Auto Industries, Rodium Realty, Seamec, Sobha, Spicejet, Wabco India, Vindhya Telelinks, Vaibhav Global, Z.F.Steering Gearare.

Parag Milk Foods to list today

The company’s Rs.760 crore initial public offering (IPO), which was extended by three days, was oversubscribed 1.83 times on the final day of the offer which ended on May 11.

Parag Milk Foods is set to list today. The company’s Rs.760 crore initial public offering (IPO), which was extended by three days, was oversubscribed 1.83 times on the final day of the offer which ended on May 11.

The Public Issue comprised a fresh issue aggregating up to Rs. 3,000 million (“Fresh Issue”) and an offer for sale of up to 20,572,573 Equity Shares. (The “Issue”).The Issue included a reservation of 300,000 Equity Shares for subscription by Eligible Employees. The price band for the Issue was Rs. 215 to Rs. 227 per Equity Share with a Rs. 12 discount for Retail Investors and Eligible Employees.

As per preliminary data available on the stock exchanges, the Public Issue was subscribed to ~1.83 times on an overall basis. The QIB portion was subscribed ~1.15 times; the Non-Institutional portion was subscribed ~3.08 times; the Retail portion was subscribed ~2.12 times; and the Employees portion was subscribed ~1.02 times.

Devendra Shah, Chairman, Parag Milk Foods Ltd., said, “We are happy to announce that the Public Issue process has been successfully completed with oversubscription in all investor categories. The Anchor Book witnessed participation at the upper end of the Price Band – Rs. 227 per Equity Share - from marquee institutional investors. During the extended period up to May 11, 2016, the Public Issue witnessed additional participation from QIBs and investors in other categories who could not invest earlier due to regional holidays in Asia. We welcome new investors to the Parag Milk Foods family.”   

The equity shares of face value of Rs. 10 each (the “Equity Shares”) will be listed on BSE Limited and the National Stock Exchange of India Limited (collectively, the “Stock Exchanges”).

On May 3, 2016, the Company had finalized the allocation of 1,51,03,935 equity shares to anchor investors at a price of Rs. 227 per equity share aggregating to Rs. 342.86 crore to anchor investors.

Top 15 stocks in focus today: Lupin, Tata Comm, Parag Milk Foods

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

The Indian stock market to open on a flat note. Parag Milk Foods to list today. On the gobal front, US blue chip stock indices closed flat on Wednesday while the technology shares managed to post modest gains after minutes from the Federal Reserve's last policy meeting indicated that a rate hike in June cannot be ruled out.The Dow Jones Industrial Average declined 3.36 points to close at 17,526.62. The blue-chip gauge traded within a 218-point range during the day.

The S&P 500 index rose by 0.42 points at 2,047.63, with The index trading within a 26-point range on the day. Meanwhile, the Nasdaq Composite Index climbed 23.39 points, or 0.5%, to settle at 4,739.12. 

Among stocks to watch:

Lupin: Lupin Ltd, one of the leading pharmaceutical companies in India, will announce its Q4 number today. IIFL estimates the company’s net profit to propel to Rs.704 crore, at a rate of 28.7% yoy and 32.8% qoq. 

Reliance Industries: Reliance Industries Ltd (RIL), which is targeting to start production of coal bed methane (CBM) from its Sohagpur (West) block in Madhya Pradesh in FY17, has sought marketing and pricing freedom for the commodity, reports a financial newspaper. 

Parag Milk Foods: Parag Milk Foods to list today. The company’s Rs.760 crore initial public offering (IPO), which was extended by three days, was oversubscribed 1.83 times on the final day of the offer which ended on May 11.

Tata Communications: Singapore Technologies Telemedia (STT), owned by Temasek Holdings, will buy a 74% stake in the data centre unit of Tata Communications for ~US$500 million, or Rs.3,250 crore, reports a national daily.

Coal India: Coal India Ltd has been told to provide the full contracted quantity of coal to power generation companies under the fuel supply agreements (FSAs) signed in 2011, Power & Coal Minister Piyush Goyal has been quoted as saying by a financial newspaper.

ONGC: ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, is looking to set up a crude oil trading vertical soon, reports a business daily. OVL is in talks with international players to set up the desk overseas.

Indian Hotels Company: Indian Hotels Company Ltd, which owns the Taj Group of hotels, has decided to sell Taj Boston at a base price which is not lower than US$125 million (~INR 837 crore).

NTPC: NTPC has withdrawn the notice to Delhi-based BSES power distribution companies regarding regulation of power supply due to pending dues following an amicable settlement, reports a business daily.

Maruti Suzuki: Maruti Suzuki has launched the country's best selling Alto 800 with all new design and features, and fuel efficiency. The new Alto 800 now delivers a fuel efficiency of 24.7 Km/l of petrol, around 9 per cent improvement over the earlier version.

Pidilite Industries: Pidilite Industries Ltd., largest adhesive manufacturer, will announce its Q4 results today. IIFL estimates the company’s net profit to go up to Rs.129 crore, at a rate of 59.7% yoy and fall of 30.7 qoq.

Castrol India: BP, the promoter of the company, is looking to sell a stake worth up to $287 million in its Indian subsidiary though a block trade on Thursday, as per ET report.

Crompton Greaves Consumer Electrical: The company reported a standalone net profit of Rs 66.61 crore for the fourth quarter ended on March 31.

IFB Industries: The company net profit stood at Rs.5 crore while the total income of the company came in at Rs.368.5 crore as against Rs.326.9 crore yoy basis. 

Torrent Power: Torrent Power posted a net profit at Rs. 277.60 mn for the quarter ended March 31, 2016 where as the same was at Rs. 1816.10 mn for the quarter ended March 31, 2015. 

Telecom stocks in focus:  Idea Cellular subscribers dropped 0.22% to 174.69 million in April as compared with March 2016 subscribers. Bharti Airtel added maximum number of subscribers i.e. 0.98 million in the month of April reaching 252.22 million subscribers. MTNL remained flat at 3.57 million subscribers. Videocon emerged as the top loser with a decline of 21.48% to 5.15 million subscribers, as per COAI report.

Novartis: The company announced changes to focus its Pharmaceuticals Division by creating two business units reporting to the CEO: Novartis Pharmaceuticals and Novartis Oncology. 

Tata Motors: Life Insurance Corporation of India (LIC) has increased its shareholding in Tata Motors from 4.91 per cent to 7.01 per cent through purchase of shares between January 8, 2013, and May 17, 2016, Tata Motors said in a regulatory filing.

JK Lakshmi Cement: JK Lakshmi Cement Ltd posted a net profit of Rs.483.80 mn for the quarter ended March 31, 2016 compared with Rs.60.50 million for the quarter ended March 31, 2015. 

Corporation Bank: The bank has posted a net loss of Rs.511 crore for the quarter ended March 31, 2016 as compared to net profit of Rs. 45.1 crore for the quarter ended March 31, 2015. 

Dr Reddy's: Drug firm Dr Reddy's Laboratories is recalling over 50,000 bottles of Ondansetron tablets made at the company's Bachupally plant in India, on account of failed impurities/ degradation specifications.

Sobha Developers: The company will announce its financial results today. IIFL estimates the company’s net profit to drop to Rs.55 crore, at a rate of 10.6% yoy; however, the same is likely to spurt 71.3% qoq.