Tata Power gains 2% post Q4 results

The company posted a net profit at Rs. 3602.50 million for the Quarter ended March 31, 2016 as compared to Rs. 1591.40 million for the Quarter ended March 31, 2015.

Tata Power Company Ltd stock was up by 2% at Rs. 208. The company posted a net profit at Rs. 3602.50 million for the Quarter ended March 31, 2016 as compared to Rs. 1591.40 million for the Quarter ended March 31, 2015.

The scrip opened at Rs. 72.5 and has touched a high and low of Rs. 72.7 and Rs. 71.3 respectively. So far 4657794(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 19121.73 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 76.95 on 02-Jun-2015 and a 52 week low of Rs. 55 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 71.5 and Rs. 68.1 respectively.

The promoters holding in the company stood at 33.02 % while Institutions and Non-Institutions held 50.7 % and 16.27 % respectively.

The stock is currently trading above its 50 DMA.

Tara Jewels Q4 cons net loss at Rs.5.88 crore

The company's sales increased by 8.68% to Rs.573.84 crore in the quarter ended March 2016 as against Rs.528.01 crore during the previous quarter ended March 2015.

Tara Jewels reported net loss at Rs.5.88 crore in the quarter ended March 2016 as against net profit of Rs.9.87 crore during the previous quarter ended March 2015.

The company's sales increased by 8.68% to Rs.573.84 crore in the quarter ended March 2016 as against Rs.528.01 crore during the previous quarter ended March 2015.

Stock price:

Tara Jewels Ltd is currently trading at Rs. 33.65, down by Rs. 3.45 or 9.3% from its previous closing of Rs. 37.1 on the BSE.

The scrip opened at Rs. 33.6 and has touched a high and low of Rs. 34.9 and Rs. 33.2 respectively. So far 243991(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 91.34 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.45 on 25-May-2015 and a 52 week low of Rs. 30.65 on 08-Sep-2015. Last one week high and low of the scrip stood at Rs. 40.45 and Rs. 36 respectively.

The promoters holding in the company stood at 60.11 % while Institutions and Non-Institutions held 0.91 % and 38.98 % respectively.

The stock is currently trading below its 200 DMA.

Sterlite Tech slips 1%; completes Elitecore Technologies merger

The merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies leading to stronger customer offerings as one-telecom entity.

Sterlite Tech also announced completion of Elitecore Technologies’ merger, which is a global provider of Operation Support Service (OSS) & Business Support Ser vice (BSS) solution. Its pre-integrated platform has the capability to monetise all IP networks including 3G/LTE, Wi-Fi, Cable, ADSL, FTTH. Sterlite Tech had acquired Elitecore Technologies in 2015.

The merger of Elitecore into Sterlite Tech will allow for seamless integration of two companies, leading to stronger customer offerings as one-telecom entity. Sterlite Tech has been in transformation phase for the last few years from a manufacturing play to a specialty business model, straddling the entire telecom value chain by significantly adding its presence into solutions, software and ser vices. This evolution of business model will substantially increase the company’s addressable market size and drive improved ROCEs.

Sterlite Technologies Ltd is currently trading at Rs. 88.2, down by Rs. 0.65 or 0.73% from its previous closing of Rs. 88.85 on the BSE.

The scrip opened at Rs. 90.2 and has touched a high and low of Rs. 90.6 and Rs. 87.5 respectively. So far 499282(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3511.25 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 109.9 on 04-Aug-2015 and a 52 week low of Rs. 63.5 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 91.45 and Rs. 86.5 respectively.

The promoters holding in the company stood at 54.71 % while Institutions and Non-Institutions held 16.03 % and 29.24 % respectively.

The stock is currently trading above its 50 DMA.

Rajesh Exports bags order worth Rs.1053 crore

The scrip opened at Rs. 557.5 and has touched a high and low of Rs. 565.2 and Rs. 549.1 respectively.

Rajesh Exports has announced that it has bagged Rs.1053 crores worth export order.

Rajesh Exports Ltd is currently trading at Rs. 558.15, down by Rs. 0.15 or 0.03% from its previous closing of Rs. 558.3 on the BSE.

The scrip opened at Rs. 557.5 and has touched a high and low of Rs. 565.2 and Rs. 549.1 respectively. So far 73540(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 16486.6 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 745.5 on 18-Feb-2016 and a 52 week low of Rs. 218.1 on 04-Jun-2015. Last one week high and low of the scrip stood at Rs. 577.65 and Rs. 545 respectively.

The promoters holding in the company stood at 53.91 % while Institutions and Non-Institutions held 20.96 % and 25.13 % respectively.

The stock is currently trading below its 200 DMA.

Monsanto India surges 5%

Bayer AG offered to acquire Monsanto Co. for about $62 billion to create the world’s biggest supplier of farm chemicals and genetically modified seeds.

Monsanto India Ltd stock was higher by 5% at Rs. 2183. Bayer AG offered to acquire Monsanto Co. for about $62 billion to create the world’s biggest supplier of farm chemicals and genetically modified seeds.

The company offered $122 per share in an all-cash bid, it said in a statement Monday. That’s a 20 percent premium to Monsanto’s last close in the US.

The scrip opened at Rs. 2140 and has touched a high and low of Rs. 2219.65 and Rs. 2140 respectively. So far 16052(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3586.34 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3376.55 on 24-Jul-2015 and a 52 week low of Rs. 1520 on 11-Apr-2016. Last one week high and low of the scrip stood at Rs. 2545 and Rs. 2059.45 respectively.

The promoters holding in the company stood at 72.14 % while Institutions and Non-Institutions held 7.04 % and 20.82 % respectively.

The stock is currently trading above its 200 DMA.

Tech Mahindra set to deliver improved growth qoq

Tech Mahindra, one of the largest IT firms in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 24.

Tech Mahindra, one of the largest IT firms in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 24.

As per IIFL’s forecast, the company is expected to register a net revenue of Rs.6,999 crore, growing at 4.4% yoy and 14.4% on qoq basis.

Operating profit margin of the company is likely to be at 15.9%, a rise of 77 bps yoy but a drop of 100 bps qoq.

IIFL estimates the company’s net profit to be at Rs.746 crore, which constitutes a rise of 58% yoy but a decline of 1.7% qoq.

According to IIFL, notwithstanding the transient challenges faced in Communication vertical, Tech Mahindra is estimated to deliver an improved growth of 1.5‐2% qoq aided by healthy performance in Enterprise segment.

IT will experience mixed results; divergence on account of client/sector specific issues, ability to capitalize on increasing digital spends, success in client mining/acquisition and execution progress on large deals in hand. The reported dollar revenue growth would also be impacted marginally from the adverse cross currency movements during the quarter.

Other key quarterly results on May 24 include Adlabs Entertainment, Amara Raja, Asahi India Glass, Bajaj Finance, Cipla, Colgate, Dhanuka agritech, Greenply, Gujarat State Fertilizers & Chemicals, Jammu & Kashmir Bank, J Kumar InfraProject, Jubilant Life Sciences, MOIL, NCC, NRB Bearings, Page Industries, Redington India, Setco Automotive, Tata Global Beverages, and Wonderla.

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.

Opening Bell - Sensex, Nifty flat

At 9:15 AM, the S&P BSE Sensex is trading at 25,221 down 9 points, while NSE Nifty is trading at 7,723 down mere eight points.

At 9:15 AM, the S&P BSE Sensex is trading at 25,221 down 9 points, while NSE Nifty is trading at 7,723 down mere eight points.

The Indian rupee opened lower by 17 paise at 67.66/$ against US Dollar on Tuesday as against the previous close of 67.49/$. In international markets, the greenback maintained firm tone against the basket of currencies, barring Japanese Yen. Yen regained lost ground after several ministers at G‐7 meeting echoed objections in respect with intervention by BOJ in the currency markets.  

Skymet Weather will have a briefing and provide update  on "Monsoon 2016-impact on agriculture & industry. The rupee could see slight weakness in early trade. Results to watch out for include Tech Mahindra, Cipla, Colgate-Palmolive, MOIL, Bharat Gears, Jubilant Life Sciences, J.Kumar Infraprojects,  Amara Raja Batteries, Bajaj Finance, Power Finance Corporation Page Industries and Subex.  Asian markets are trading lower. Japanese stocks are under pressure on the back of fresh strength in the yen against the dollar, with the benchmark Nikkei 225 down 0.68%. Wall Street ended lower on Monday. A bounce in Apple failed to offset concerns that the US Federal Reserve could raise interest rates sooner than later. The Dow Jones industrial average declined 0.05% to end at 17,492.93 points and the S&P 500 lost 0.21% to 2,048.04. The Nasdaq Composite dipped 0.08% to 4,765.78.

India’s  4Q FY16 gross market borrowing has been revised lower to Rs5.85tn.

India will sell Rs.150bn of four govt bonds on May 27, according to the RBI

LIC Housing Finance is expected to sell Rs. 7.85 bn 2-part bond

Cochin Shipyard is set to hold a pre-bid meet with bankers for IPO later this week.

India and Iran agreed to share intelligence in a bid to fight the menace that is “rife and rampant” in the region. The two countries also inked a dozen agreements, ranging from a contract to develop the strategic Chahabar port to an initial pact to set up an aluminium plant and one on laying a railway line to give India access to Afghanistan and Central Asia.

The public debt declined marginally to Rs.55.73 lakh crore at the end of March 2016, showing a quarter-on-quarter reduction of 0.04%.

L&T Infotech, an arm of engineering giant Larsen and Toubro (L&T), has received capital markets regulator SEBI's approval for its proposed initial public offering

Aban Offshore plans to raise around $400 mn

The Board of Directors has approved the plan to raise additional long-term resources through the issue of FCCBs, GDRs, ADRs, etc., not exceeding the amount equivalent to $400 million.

Aban Offshore is planning to raise around $400 mn through FCCBs, GDRs and another Rs. 2,500 crore through QIB (qualified institutional buyers).

The Board of Directors has approved the plan to raise additional long-term resources through the issue of FCCBs, GDRs, ADRs, etc., not exceeding the amount equivalent to $400 million.

The company has also received  to issue equity-related securities to qualified institutional buyers up to Rs. 2,500 crore.

The board has also re-appointed P Venkateswaran as Deputy Managing Director of the Company for a further period of five years from August 01, 2016 to July 31, 2021

Top 15 stocks in focus today: Tech Mahindra, Cipla, Sterlite Tech

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

Cipla: Cipla Ltd, one of the largest pharmaceutical companies in India, will announce its financial results today. As per IIFL’s forecast, the company’s net revenue for Q4 FY16 is expected to increase to Rs.3,554 crore, at a rate of 14.9% yoy and 14.4% qoq.  

Infosys: The IT Company has bagged a five-year contract from Commerzbank, the second largest bank in Germany. The contract will renew Commerzbank's landscape and remodel its architecture, as per reports.

Tech Mahindra: Tech Mahindra, one of the largest IT firms in the country, will announce its financial results today. As per IIFL’s forecast, the company is expected to register a net revenue of Rs.6,999 crore, growing at 4.4% yoy and 14.4% on qoq basis.     
     
Tata Power:Tata Power Company Ltd posted a net profit aftex tax, minority interest and Share of profit of Associates of Rs. 3602.50 million for the Quarter ended March 31, 2016 as compared to Rs. 1591.40 million for the Quarter ended March 31, 2015.

Sterlite Tech: Sterlite Technologies Ltd announced the demerger effective from the appointed date of April 1, 2015 of its Power Business into Sterlite Power Transmission Ltd. 

Suven Life Sciences: The company has been granted a patent each by Australia, Eurasia, Israel and the US for a drug used in treatment of neuro-degenerative diseases.

MEP Infrastructure: The company said its firm, a joint venture with Sanjose India Infrastructure & Construction, has won a highway project in Gujarat with a bid worth Rs. 624 crore.

Colgate: Colgate, one of the largest fast moving 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.1,110 crore, growing at 9.4% qoq and 7.9% yoy.

Emami Ltd: Emami has introduced a new variant of Navratna Oil. The product in the category named Navratna Almond Cool Oil is being positioned as a value-added ayurvedic oil.

Dish TV: DTH service provider Dish TV India reported nearly 14-fold jump in consolidated net profit at Rs. 482.77 crore for the March quarter on account of deferred tax expense of Rs. 402.90 crore.

TTK Prestige Ltd: The company net profit for fourth quarter of FY 2015-16 was higher by 121.51% at Rs. 21.62 crore compared with Rs. 9.76 crore during the same period last year.

Shanthi Gears: Shanthi Gears is planning to spend around Rs. 100 crore in the next four years for technology upgradation, expansion and sales promotion activities, as per media reports.

Torrent Pharmaceuticals: The company posted a 175% jump in net profit to Rs.357 crore for the March quarter.

Chennai Petroleum Corporation: The company on Monday reported a 27.14% decline in net profit at Rs.265.59 crore for the quarter ended March 31, 2016.


HSIL: The company reported its Q4 net profit stood at Rs. 38.1 crore.The total income was at Rs. 595.9 crore as against Rs. 558.9 crore (YoY). 

Jubilant Life Sciences: Jubilant Life Sciences Ltd, one of the leading drug manufacturers in India, will announce its Q4 results today.IIFL estimates the company’s net profit to skyrocket to Rs. 116 crore, at a rate of 172.5% yoy; however, the same is likely to dip 0.4% qoq.     

Novartis India Ltd: The company has announced that the Board will also consider a proposal for Buyback of the Company's equity shares, constitution of buyback committee, and appointment of intermediaries in accordance with all applicable provisions of laws.

VRL Logistics: VRL Logistics, largest pan-India surface logistics and parcel delivery service provider, reported standalone net profit of Rs.13.21 crore for the quarter ended March 31, 2016, registering decline of 31.8% yoy and 46.59% qoq.

Welspun Corp: The company posted a net profit of Rs.230.50 million for the quarter ended March 31, 2016 compared with Rs.1437.70 million for the quarter ended March 31, 2015.

Jyothy Labs: Jyothy Laboratories, fastest growing consumer goods provider in India, reported consolidated net profit of Rs.35.61 crore for the quarter ended March 31, 2016, registering growth of 31.6% yoy, but decline of 8.67% qoq. 

Axis Bank: Axis Bank, India’s third largest private bank, will raise at least $500 million through green bonds from the international market, according to the reports.

Aban Offshore: Aban Offshore is planning to raise around $400 mn through FCCBs, GDRs and another Rs. 2,500 crore through QIB (qualified institutional buyers).The Board of Directors has approved the plan to raise additional long-term resources through the issue of FCCBs, GDRs, ADRs, etc., not exceeding the amount equivalent to $400 million.The company’s consolidated revenue stood at Rs. 629.30 crore, down 36.52% yoy and 14.22% qoq

L&T: L&T Infotech, an arm of engineering giant Larsen and Toubro (L&T), has received capital markets regulator SEBI's approval for its proposed initial public offering.