Induslnd Bank ties up with Reliance General Insurance

The scrip opened at Rs. 1060.1 and has touched a high and low of Rs. 1075.4 and Rs. 1060.1 respectively.

Induslnd Bank has announced that it has tied up with Reliance General Insurance for distribution of Insurance Products.

IndusInd Bank Ltd is currently trading at Rs. 1061.05, down by Rs. 10.4 or 0.97% from its previous closing of Rs. 1071.45 on the BSE.

The scrip opened at Rs. 1060.1 and has touched a high and low of Rs. 1075.4 and Rs. 1060.1 respectively. So far 349056(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 63772.1 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1098.7 on 17-May-2016 and a 52 week low of Rs. 784.45 on 12-Jun-2015. Last one week high and low of the scrip stood at Rs. 1098.7 and Rs. 1058.3 respectively.

The promoters holding in the company stood at 14.9 % while Institutions and Non-Institutions held 54.72 % and 19.51 % respectively.

The stock is currently trading above its 50 DMA.

Welspun Corp Q4: cons net profit crashes yoy to Rs.23.1 cr against Rs.143.8 crore

The company reported a consolidated net profit of Rs.23.1 crore, against Rs.143.8 crore in the same period last year. Net sales in the same period declined 19% to Rs.1,790 crore from Rs.2,220 crore in the year ago period.

Welspun Corp Ltd., diameter line pipe company, reported a consolidated net profit of Rs.23.1 crore, against Rs.143.8 crore in the same period last year. Net sales in the same period declined 19% to Rs.1,790 crore from Rs.2,220 crore in the year ago period.

The company has recommended a dividend at the rate of 10 % on 265,226,109 Equity Shares of Rs.5/- each fully paid-up.

During the quarter under review, total income was  at Rs.1,841 crore compared with Rs.2,331.4 crore.

Welspun Corp Ltd is currently trading at Rs. 93.7, down by Rs. 5.65 or 5.69% from its previous closing of Rs. 99.35 on the BSE.

The scrip opened at Rs. 100 and has touched a high and low of Rs. 101.5 and Rs. 93.05 respectively. So far 1335029(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2635.02 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 153.6 on 05-Aug-2015 and a 52 week low of Rs. 72.55 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 106.85 and Rs. 98.75 respectively.

The promoters holding in the company stood at 41 % while Institutions and Non-Institutions held 15.42 % and 34.9 % respectively.

The stock is currently trading below its 200 DMA.

Cox and Kings slumps 5% after Q4 net loss

The company posted a net profit/(loss) after tax of Rs. (3055.378) mn for the quarter ended March 31, 2016 as compared to net profit of Rs. 645.688 mn for the quarter ended March 31, 2015.

Cox and Kings Ltd stock was lower by 5% at Rs.165.The company posted a net profit/(loss) after tax of Rs. (3055.378) mn for the quarter ended March 31, 2016 as compared to net profit of Rs. 645.688 mn for the quarter ended March 31, 2015. 

Total Income has decreased from Rs. 5021.095 million for the quarter ended March 31, 2015 to Rs. 4827.165 mn for the quarter ended March 31, 2016.

The scrip opened at Rs. 170 and has touched a high and low of Rs. 171.95 and Rs. 160 respectively. So far 199746(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2948.62 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 317 on 05-Aug-2015 and a 52 week low of Rs. 140.5 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 186.4 and Rs. 172.1 respectively.

The promoters holding in the company stood at 49.06 % while Institutions and Non-Institutions held 35.2 % and 15.74 % respectively.

The stock is currently trading below its 200 DMA.

ITC rallies 6%

The company reported standalone net profit of Rs.2,495.20 crore for the quarter ended March 31, 2016, registering growth of 5.68% yoy, but decline of 5.94% qoq.

ITC Ltd stock was higher by 7% at Rs. 351.The company reported standalone net profit of Rs.2,495.20 crore for the quarter ended March 31, 2016, registering growth of 5.68% yoy, but decline of 5.94% qoq.

The scrip opened at Rs. 0 and touched a high and low of Rs. 0 and Rs. 0 respectively. A total of 13509419(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 265517.59 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 359.75 on 26-Oct-2015 and a 52 week low of Rs. 268 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 337.85 and Rs. 317 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.62 % and 44.16 % respectively.

The stock traded above its 50 DMA.

BPCL: Q4 numbers likely to disappoint

IIFL estimates the company’s net profit to plunge to Rs.2,337 crore, at a rate of 18.1% yoy; however, the same is expected to go up 57% qoq.

Bharat Petroleum Corporation Ltd (BPCL), one of the leading oil marketing companies (OMCs), will announce its financial results on May 23 for the fourth ended March 31, 2016.

IIFL estimates the company’s net profit to plunge to Rs.2,337 crore, at a rate of 18.1% yoy; however, the same is expected to go up 57% qoq.   
 
As per IIFL’s forecast, the company’s net revenue for Q4 FY16 is expected to slump to Rs. 44,150 crore, at a rate of 14% yoy and 5.4% qoq.             

Operating profit margin is estimated to be at 8.4%, with a yoy fall of 32 bps. 

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 quarterly results on May 23 include Other key quarterly results on May 23 are City Union Bank, Dish TV, Engineers India, HSIL, Jyothy Lab, Kewal Kiran, Sonata Software, TTK Prestige, Tata Power, VRL Logistics, and Welspun Corp.

Pfizer asked to withdraw Medrol and other top pharma news

Zika, the deadly virus that has been linked to neurological disorders including babies being born with small brains, has now reached beyond South America to Cabo Verde - northwest coast of Africa, said WHO.

The Delhi High Court has asked pharma major Pfizer to withdraw stocks of its already imported drug Medrol, which is used to treat a range of inflammatory, allergic and immune disorders.

Zika, the deadly virus that has been linked to neurological disorders including babies being born with small brains, has now reached beyond South America to Cabo Verde - northwest coast of Africa, said WHO.

Large capital requirements with blurred profitability prospects and increasing competition in the payments space may force a few more players to reconsider their launch plans. Of the 11 payments bank licencees, two players have already opted out so far. “I do believe a few of the players will choose to return their licences or will agree and consolidate in the next three to five years. At the end, we may have four-five payments banks. The viability of a payments bank will depend on the (transaction) volumes and consolidation will increase the volumes and the chances of viability,” Ashwin Parekh managing partner at Ashvin Parekh Advisory Services LLP told Financial Chronicle. Another experienced banking sector consultant told this newspaper, “Telecom companies are well positioned to become payments banks, as they already have a mobile money platforms. However, the non-telecom companies, for instance NBFCs, that are going to launch payments banks, would find the going tough since the proposition is not about branches, but about creating an ecosystem where the payments bank card can be accepted.”

Some people describe Darwinian evolution as “only a theory”. Try explaining that to the friends and relatives of the 700,000 people killed each year by drug-resistant infections. Resistance to antimicrobial medicines, such as antibiotics and antimalarials, is caused by the survival of the fittest. Unfortunately, fit microbes mean unfit human beings. Drug-resistance is not only one of the clearest examples of evolution in action, it is also the one with the biggest immediate human cost. And it is getting worse. Stretching today’s trends out to 2050, the 700,000 deaths could reach 10m.

World Bank's investment arm International Finance Corporation (IFC) is looking to invest US$68 million (about INR 460 crore) in Apollo Health & Lifestyle. Apollo Health runs the Apollo Hospital's small format centres.

With nearly one lakh employees in more than 100 countries, Sanofi is the world’s fourth largest pharmaceutical company and the biggest in Europe and emerging markets. Its vaccine division, Sanofi Pasteur, is arguably the world leader in human vaccine production. When it comes to organisational culture, Sanofi India, the Indian arm of the group, is recognised for its strong employee-friendly culture that is value-based, people centric and transparent, explains Gaurav Bahadur, senior director–human resources, India & South Asia, Sanofi.

Healthcare research institution, IIHMR University, Jaipur, has announced it will conduct online RuralMAT for its School of Rural Management on June 7 at select centres across the country, while offline RuralMAT will be conducted on June 10 in Jaipur. SD Gupta, president, IIHMR University, said,“RuralMAT is for those aspirants who don’t have scores of MAT, CM AT, CAT, ATMA, XAT, etc. The exam is both online and offline and there is no fee.” IIHMR will also hold PharmaMAT for its School of Pharmaceutical Management. Gupta added the Indian pharma market is expected to reach $55 billion by 2020.

Rupee opens at 67.30/$, higher 7 paise

The rupee opened higher by 7 paise at 67.30/$ against US Dollar on Monday as against the previous close of 67.37/$. The local unit had hit a high of 67.34 and a low of 67.38.

The Indian rupee opened higher by 7 paise at 67.30/$ against US Dollar on Monday as against the previous close of 67.37/$. On Friday, rupee extended the weakness, as various emerging market currencies remained on the defensive, weighed by the reinforced perception of a rate hike by US Fed in June.

In Japan, the government reported that the country’s exports during April contracted 10.1% on yoy basis, the seventh consecutive monthly decline. Recent appreciation in Yen (in addition to gloomy global economic landscape) also aggravated the weakness. This worsens Japanese regime’s efforts to revive a sagging economy. As a result, Japanese Yen is definitely going to remain under pressure, with the retest of 112‐113 levels not ruled out in the coming days.

In China, home prices during April posted their fastest rate of growth in two years. Average new home prices in 70 cities climbed 6.2% on yoy basis, up from March's 4.9% rise. Chinese Yuan is gradually losing ground, with values on the verge of breaching 6.55 levels in the offshore markets.

On Friday, the Indian currency ended lower by 8 paise at 67.37/$. The local unit had hit a high of 67.34 and a low of 67.38. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.40 and for Euro stood at 75.54. The RBI’s reference rate for the Yen stood at 61.17; reference rate for the Great Britain Pound (GBP) stood at 98.4555.

Top 15 stocks in focus today: BPCL, SpiceJet, Power Grid

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

BPCL: Bharat Petroleum Corporation Ltd (BPCL), one of the leading oil marketing companies (OMCs), will announce its Q4 numbers today. IIFL estimates the company’s net profit to plunge to Rs.2,337 crore, at a rate of 18.1% yoy; however, the same is expected to go up 57% qoq.  

SpiceJet: SpiceJet hopes to place an order for more than 100 narrow-body aircraft in the next 2-3 months, Chairman & MD Ajay Singh has been quoted as saying by a business daily.SpiceJet is planning to list its securities on the National Stock Exchange, according to reports.

BHEL, Power Grid: BSE Ltd said that it will replace Bharat Heavy Electricals Ltd in its benchmark S&P BSE Sensex with Power Grid Corp. Ltd from 20 June.

National Aluminium Company Ltd: The company has announced that a meeting of the Board of Directors of the Company to consider the proposal for alteration In Articles of Association of the Company and Buyback of the fully paid-up equity shares of the Company.

Britannia Industries: The company posted a net profit after taxes, minority interest and share of profit of associates of Rs.1902.30 mn for the quarter ended March 31, 2016 as compared to Rs.1672.50 mn for the quarter ended March 31, 2015.

Cox & Kings: The company reported net loss at Rs.305.54 crore in the quarter ended March 2016 as against net profit of Rs.64.57 crore during the previous quarter ended March 2015.

Timken India: The company reported its net profit at Rs.27.50 crore in the quarter ended March 2016 as against Rs.17.21 crore during the previous quarter ended March 2015.

Praj Industries:  Praj Industries reported its net profit declined 7.13% to Rs 34.00 crore in the quarter ended March 2016 as against Rs 36.61 crore during the previous quarter ended March 2015. 

Selan Explorations Technology: The company's net profit is declined by 73.23% to Rs.1.06 crore in the quarter ended March 2016 as against Rs.3.96 crore during the previous quarter ended March 2015.

IDBI Bank: IDBI Bank Ltd has posted a net loss of Rs. 17358.10 million for the quarter ended March 31, 2016 compared with Net Profit of Rs. 5459.40 million for the quarter ended March 31, 2015.

Patel Engineering: The company has bagged orders worth Rs.2376.85 crores.

Ugar Sugar Works: The company reported net profit rose 166.26% to Rs.61.64 crore in the quarter ended March 2016 as against Rs.23.15 crore during the previous quarter ended March 2015.

Pennar Industries: The company posted its net profit rose by 1.50% to Rs.16.26 crore in the quarter ended March 2016 as against Rs.16.02 crore during the previous quarter ended March 2015.

Auto stocks in focus: Auto stocks will be in focus after Union Transport Minister Nitin Gadkari said the new scrapping policy being mulled will help raise turnover in the industry to Rs 20 lakh crore from Rs 5 lakh crore at present.

SAIL: The company is targeting sales of 17 million tonnes (MT) in the current fiscal year with focus on deriving 70% of the total figure from the northern and eastern regions of the country, reports a business daily.

Infrastructure Leasing & Financial Services Ltd: The company has initiated the process of listing its wind energy assets that fall under IL&FS Energy Development Co Ltd (IEDCL) as an infrastructure investment trust (InvIT), reports a business daily.

Tata Power: The company will announce its Q4 numbers today. IIFL estimates the company’s net profit to spurt to Rs.263 crore, at a rate of 151% yoy and 1,532.9 qoq.

ITC: ITC, a diversified company and leader in Tobacco industry, reported standalone net profit of Rs.2,495.20 crore for the quarter ended March 31, 2016, registering growth of 5.68% yoy, but decline of 5.94% qoq.

NMDC: Five merchant bankers have been shortlisted for helping the Government to sell a 10% stake in National Mineral Development Corporation Ltd, reports a business daily.The five merchant bankers/selling brokers are ICICI Securities Ltd, Citibank NA and SBI Capital Markets Ltd, Edelweiss Financial Services Ltd and Deutsche Bank AG.

Aviation stocks in focus: The Directorate General of Civil Aviation (DGCA) expects more than 100 million domestic passengers to fly by the year end, reports a financial newspaper.The domestic air passenger traffic market grew by 21% in April from a year earlier on the back of lower fares, according to the Directorate General of Civil Aviation (DGCA) data.

Aditya Birla Retail Ltd: Aditya Birla Group Chairman Kumar Mangalam Birla and his family plan to invest Rs.500 crore in the group's food and grocery business and increase its authorised capital to Rs.750 crore, reports a financial newspaper.

VRL Logistics: The company will announce its Q4 numbers today.IIFL estimates the company’s net profit to rise to Rs.25 crore at 29.9% yoy and  2% qoq.

TTK Prestige: TTK Prestige, one of the leading consumer goods companies in the country, will announce its Q4 results today.  As per IIFL’s forecast, the company is expected to register a net revenue of Rs.333 crore, growing at 16.5% yoy but dropping 25.6% yoy.

Avanti Feeds: The company's Q4 net profit rises 43.1% at Rs.31.2 crore. The total income was up 22.9% at Rs 468.8 crore as against Rs. 381.4 Cr (YoY).

City Union Bank: The bank will announce its Q4 numbers today. IIFL estimates the bank’s net profit to soar to Rs.100 crore, at a rate of 26% yoy; however, the same is expected to sink 2% qoq.  

Kirloskar Electric: The company will increase the authorized capital of the Company from Rs. 90 crores to Rs. 115 crores; also, to increase the limit of holding by foreign entities in the Company from 24% to 49%.

Finolex Industries Ltd: The company posted a net profit of Rs. 784.784 million for the quarter ended March 31, 2016 as compared to Rs. 276.809 million for the quarter ended March 31, 2015.

Ramco Cements: The company’s consolidated revenue stood at Rs. 1,015.39 crore, up 1.79% yoy and 23.65% qoq.