Cummins India Q1 net profit at Rs 1811.80 mn

Total Income has decreased from Rs. 13695.70 mn for the quarter ended June 30, 2015 to Rs. 13005.80 million for the quarter ended June 30, 2016.

Cummins India Ltd posted a net profit of Rs. 1811.80 mn for the quarter ended June 30, 2016 as compared to Rs. 2113.50 mn for the quarter ended June 30, 2015.

 Total Income has decreased from Rs. 13695.70 mn for the quarter ended June 30, 2015 to Rs. 13005.80 million for the quarter ended June 30, 2016.

TCS platform helps Ampleon use cloud to drive business agility

Ampleon has selected TCS’ ERP on Cloud Platform to run its complex and critical business processes globally to benefit from scale, efficiency as well as optimize its capital investments.

Tata Consultancy Services announced that Ampleon, a leading RF power company and spinoff from NXP Semiconductors, has engaged TCS to increase business agility by moving its operations to the Cloud.

Ampleon has selected TCS’ ERP on Cloud Platform to run its complex and critical business processes globally to benefit from scale, efficiency as well as optimize its capital investments.  The TCS’ ERP on Cloud Platform enables Ampleon to standardize operations to increase efficiency across the enterprise including finance and accounting, sales and distribution, procurement, production planning, quality, projects and product life cycle management processes.

The Chief Executive Officer (CEO) of Ampleon, Mr. Reinier Beltman said, “Post our spinoff from NXP in December 2015, we needed an ERP system that would address the complex requirements of semiconductor industry and can be deployed rapidly with minimal investments. With TCS’ ERP on Cloud Platform we have found a perfect match that provides standardized best-in-class business processes, offers scalability and flexibility to adapt to changing business needs. Moreover, TCS provides single point of accountability thereby freeing up our resources to focus on core business, new product introduction and gaining market share.“

Speaking about the strategic importance of this partnership, Mr. V Rajanna, Vice President & Global Head of Technology Business Unit, TCS said, “We are delighted to partner with Ampleon as they embark upon their journey as an independent entity. TCS’ expertise in the Semiconductor industry coupled with its best in class ERP Cloud solution delivers immense business value to our customers. This partnership will enable Ampleon to significantly boost its business agility and ensure superior user experience. We look forward to work closely with Ampleon to deliver business benefits in-line with their strategic objectives.”

Raj Agrawal, Vice President & Global Head, TCS Platform Solutions, said, “Today cloud is emerging as the preferred deployment model for core enterprise functions by providing scalable, secure yet flexible platform. TCS is uniquely positioned to address this shift because of our ability to combine services with infrastructure and application while taking primary responsibility for both deployment and ongoing service delivery. Our expertise in ERP Transformation with large repository of assets, best practices and frameworks makes us the partner of choice to deliver significant business value to our customers”.

TCS ERP on Cloud Platform helps customers achieve unified, standardized and streamlined processes and operations on a proven and trusted technology platform. The platform is offered on a flexible pay-per-use pricing model that is aligned with customers changing business needs. The Platform helps customers improve business outcomes such as revenue performance, operating margins and customer satisfaction, it also helps them improve KPI’s like collection time for receivables, employee productivity, time to close financial books, inventory costs and planning cycle time.

Cadila Healthcare gains 5%

The company posted a net profit after taxes, minority interest and share of profit of associates and joint ventures of Rs. 3562 million for the quarter ended June 30, 2016 as compared to Rs. 4602 million for the quarter ended June 30, 2015.

Cadila Healthcare Ltd stock was higher by 5% at Rs.365.The company posted a net profit after taxes, minority interest and share of profit of associates and joint ventures of Rs. 3562 million for the quarter ended June 30, 2016 as compared to Rs. 4602 million for the quarter ended June 30, 2015. Total Income has decreased from Rs. 24066 million for the quarter ended June 30, 2015 to Rs. 23024 million for the quarter ended June 30, 2016.

The scrip opened at Rs. 349.8 and has touched a high and low of Rs. 366.8 and Rs. 349.8 respectively. So far 922386(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 35523.87 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 454.4 on 23-Oct-2015 and a 52 week low of Rs. 295.5 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 371.4 and Rs. 342 respectively.

The promoters holding in the company stood at 74.79 % while Institutions and Non-Institutions held 16.87 % and 8.33 % respectively.

The stock is currently trading above its 200 DMA.

Motherson Sumi Systems plans to raise Rs. 3,500 crore

The company will seek the resolution for preferential allotment of up to 17.80 million equity shares of issues of FCCB of an amount of upto Rs 562.5 crore to Sumitomo Wiring System, Japan.

Motherson Sumi Systems announced that the board is seeking shareholders approval to raise over Rs. 3,500 crore to enhance long term resources. 

"The board decided with an objective to enhance long term resources to support the growth potential and to have the ability to raise capital at an appropriate time that an enabling resolution would be sought from shareholders in the ensuing AGM to be held on August 31," the company said.

The company will seek the resolution for preferential allotment of up to 17.80 million equity shares of issues of FCCB of an amount of upto Rs 562.5 crore to Sumitomo Wiring System, Japan.

Further the resolution seeks to raise an amount up to Rs 3,000 crore via qualified institutional placement. 

Punj Llyod surges 7%

The company has announced that M/s Pt Engineering Limited, subsidiary of the Company has sold its entire shareholding in its wholly owned subsidiary registered in United Kingdom viz Simon Carves Engineering Limited to Engineers and Constructors International, Inc.

Punj Llyod stock was higher by 7% at Rs.21.The company has announced that M/s Pt Engineering Limited, subsidiary of the Company has sold its entire shareholding in its wholly owned subsidiary registered in United Kingdom viz Simon Carves Engineering Limited to Engineers and Constructors International, Inc.

The scrip opened at Rs. 0 and touched a high and low of Rs. 0 and Rs. 0 respectively. A total of 453958(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 654.24 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 35.8 on 06-Aug-2015 and a 52 week low of Rs. 17.65 on 07-Jun-2016. Last one week high and low of the scrip stood at Rs. 21.4 and Rs. 19.4 respectively.

The promoters holding in the company stood at 36.72 % while Institutions and Non-Institutions held 10.17 % and 53.1 % respectively.

The stock traded above its 200 DMA.

Top 16 stocks in focus: Dr Reddy’s Lab, Tata Power, Berger Paints

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

Dr Reddy’s Laboratories: The pharma company has successfully completed the $350 million (around Rs.2,300 crore) acquisition of eight abbreviated new drug applications (ANDAs) in the US from Teva Pharmaceutical Industries and an affiliate of Allergan Plc.

Logistics stocks in focus: Logistics stocks will be in focus after the Rajya Sabha approved the crucial 122nd Constitutional amendment to turn the GST bill into law.

Tata Power: The company will announce its Q1 numbers today. The company said it has raised Rs.3,500 crore through an issuance of unsecured, taxable, redeemable, non-cumulative, listed, rated and non-convertible debentures worth Rs.3,500 crore on a private placement basis.

Berger Paints: The company is looking to expand its Jejuri plant near Pune at an investment of Rs.100 crore by the next fiscal and also double revenue within five years.

Orient Cement: The company reported a net loss of Rs.7.6 crore for the quarter ended June 30 compared with Rs.28.8 crore reported in the year-ago period.

NBCC: NBCC (India) Ltd has announced that the Company had secured work for construction of 30 bedded ESIC Hospital at Baltikuri.

Infra Company in focus: Cabinet approved Highway Monetisation Scheme.

Carborundum Universal: The company has approved a proposal for setting up a 21 MW Hydel Power Plant at Keerithodu, Idukki district, Kerala at Rs.1,250 million.

Capital First: Capital First Limited reported a Profit after Tax of Rs.49.2 crore for Q1 FY17, an increase of 49% from Rs.33.1 crore in Q1 FY16. 

Infosys: Infosys Ltd has announced investing $4 million (Rs.27 crore) in Cloudyn, an Israeli corporation, providing software as a service (Saas) solutions for the management and optimization of hybrid, multi-cloud deployments.

GATI: The logistic company will announce its Q1 numbers today.

Siemens: Siemens Ltd has announced that it has received order worth approximately Rs. 217 crore for Power Grid Company of Bangladesh Limited project.

NTPC: Fitch has affirmed NTPC Ltd a long-term local-currency IDR (Issuer Default Rating) of ‘BBB-’ and assigned ‘BBB-(emr)’ to its masala bonds.

Cadila Healthcare: Cadila Healthcare posted a net profit after taxes, minority interest and share of profit of associates and joint ventures of Rs. 3562 million for the quarter ended June 30, 2016 as compared to Rs. 4602 million for the quarter ended June 30, 2015.

Titan: The company has posted a net profit of Rs. 1266.90 million for the quarter ended June 30, 2016 as compared to Rs. 1514.50 million for the quarter ended June 30, 2015.

HCL Technologies: The company posted a net profit after tax, minority interest and share of profit of associates of  Rs.20552 million for the quarter ended June 30, 2016. Total income is Rs.115595.90 mn for the quarter ended June 30, 2016.

Cummins India: The company will announce its Q1 numbers today.

Rajya Sabha passes GST statute bill

The changes to the Constitution (122nd Amendment) Bill, 2014, was cleared by the Rajya Sabha, will have to be ratified by the Lok Sabha.

Rajya Sabha passed GST statute bill on Wednesday.

The changes to the Constitution (122nd Amendment) Bill, 2014, was cleared by the Rajya Sabha, will have to be ratified by the Lok Sabha and subsequently get approval from 50% of state assemblies, says report.

Finance Minister Arun Jaitley reportdly said he's optimistic about getting it in place by April 1 next year. 

FM Jaitley said "I am giving you an assurance that the government has no intention of getting the Bill passed without discussion in the Rajya Sabha."

Sensex, Nifty to open on a positive note

Asian markets are trading mixed. The Nikkei 225 and Shanghai Composite trading lower by 0.4%. Hong Kong's Hang Seng is marginally up.

The indices are set to open on a positive note. Asian markets are trading mixed. The Nikkei 225 and Shanghai Composite trading lower by 0.4%. Hong Kong's Hang Seng is marginally up. Infosys too looks geared to implement the task of developing the GST portal. Of course the GST still has a few road-blocks which the government hopes to get through in the winter session of Parliament. State governments too have their share to do.

DHFL’s sale of retail inflation-linked bonds saw a record response on the first day.

US stocks closed slightly higher amid a sharp rebound in oil prices. The Dow Jones Industrial Average snapped a seven-day slide to close up 0.23% at 18,355 points. The S&P 500 gained 0.31% to 2,163.78 and the Nasdaq Composite added 0.43% to 5,159.74.Data showed the US private sector added 179,000 jobs in July, beating estimates of 170,000. The report comes ahead of the more comprehensive national payrolls report on Friday.

The Rajya Sabha approved the crucial 122nd Constitutional amendment to turn the bill into law. The Lok Sabha had already passed the key bill.

Government has imposed a penalty of Rs 2,313 crore on telecom operators for violating subscriber verification norms till May 31, telecom minister Manoj Sinha.

CCEA chaired by PM Narendra Modi has decided to extend the production subsidy to sugar mills to achieve expected performance in respect of export of sugar and supply of ethanol, as per media reports.

Among other stocks in focus:

Dr Reddy’s Laboratories: The pharma company has successfully completed the $350 million (around Rs.2,300 crore) acquisition of eight abbreviated new drug applications (ANDAs) in the US from Teva Pharmaceutical Industries and an affiliate of Allergan Plc.

Logistics stocks in focus: Logistics stocks will be in focus after the Rajya Sabha approved the crucial 122nd Constitutional amendment to turn the GST bill into law.

Tata Power: The company will announce its Q1 numbers today. The company said it has raised Rs.3,500 crore through an issuance of unsecured, taxable, redeemable, non-cumulative, listed, rated and non-convertible debentures worth Rs.3,500 crore on a private placement basis.

Berger Paints: The company is looking to expand its Jejuri plant near Pune at an investment of Rs.100 crore by the next fiscal and also double revenue within five years.

Orient Cement: The company reported a net loss of Rs.7.6 crore for the quarter ended June 30 compared with Rs.28.8 crore reported in the year-ago period.

NBCC: NBCC (India) Ltd has announced that the Company had secured work for construction of 30 bedded ESIC Hospital at Baltikuri.

Infra Company in focus: Cabinet approved Highway Monetisation Scheme.

Carborundum Universal: The company has approved a proposal for setting up a 21 MW Hydel Power Plant at Keerithodu, Idukki district, Kerala at Rs.1,250 million.

Capital First: Capital First Limited reported a Profit after Tax of Rs.49.2 crore for Q1 FY17, an increase of 49% from Rs.33.1 crore in Q1 FY16. 

Infosys: Infosys Ltd has announced investing $4 million (Rs.27 crore) in Cloudyn, an Israeli corporation, providing software as a service (Saas) solutions for the management and optimization of hybrid, multi-cloud deployments.

GATI: The logistic company will announce its Q1 numbers today.

Siemens: Siemens Ltd has announced that it has received order worth approximately Rs. 217 crore for Power Grid Company of Bangladesh Limited project.

NTPC: Fitch has affirmed NTPC Ltd a long-term local-currency IDR (Issuer Default Rating) of ‘BBB-’ and assigned ‘BBB-(emr)’ to its masala bonds.

Cadila Healthcare: Cadila Healthcare posted a net profit after taxes, minority interest and share of profit of associates and joint ventures of Rs. 3562 million for the quarter ended June 30, 2016 as compared to Rs. 4602 million for the quarter ended June 30, 2015.

Titan: The company has posted a net profit of Rs. 1266.90 million for the quarter ended June 30, 2016 as compared to Rs. 1514.50 million for the quarter ended June 30, 2015.

HCL Technologies: The company posted a net profit after tax, minority interest and share of profit of associates of  Rs.20552 million for the quarter ended June 30, 2016. Total income is Rs.115595.90 mn for the quarter ended June 30, 2016.

WABCO Holdings: The company has entered into a multi-year agreement to supply vacuum pumps across all Mahindra & Mahindra’s major engine platforms, with series production expected to begin in late 2017.

Astral Poly Technik: The company is setting up a new production facility at Rajasthan at an initial investment of about Rs.700 mn. The company will be manufacturing pipes and fitting materials at the Rajasthan plant.

BHEL: BHEL has commissioned the second 500Mw thermal unit at Marwa Thermal Power Station in Chhattisgarh.

Cummins India: The company will announce its Q1 numbers today.

Results: Tata Power, Fortis Healthcare, Gati, Arvind, Cummins India, Montaso and Thomas Cook.

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Trends in FII flows: The domestic institutional investors (DIIs) were net sellers of Rs.8.01 bn in the cash segment on Wednesday, while FIIs were net buyers of Rs.5.78 bn, as per the provisional figures released by the NSE.