PTC India Financial Q4 net profit at Rs.49.03 crore

The total income was at Rs.270 crore as against Rs. 220 crore.

PTC India Financial Q4 net profit stood at Rs. 49.03 crore.

The total income was at Rs.270 crore as against Rs. 220 crore.

PTC India Financial Services Ltd is currently trading at Rs. 40.55, up by Rs. 0.55 or 1.37% from its previous closing of Rs. 40 on the BSE.

The scrip opened at Rs. 41 and has touched a high and low of Rs. 41.2 and Rs. 40.1 respectively. So far 1936100(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2248.32 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 60.65 on 25-May-2015 and a 52 week low of Rs. 29.75 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 40.2 and Rs. 37.4 respectively.

The promoters holding in the company stood at 60 % while Institutions and Non-Institutions held 13.35 % and 26.65 % respectively.

The stock is currently trading above its 200 DMA.

UCO Bank Q4 net loss at Rs.1715 crore; stock plunges 6%

Total Income has decreased from Rs. 52633.60 mn for the quarter ended March 31, 2015 to Rs. 47454.80 million for the quarter ended March 31, 2016.

UCO Bank posted a net loss of Rs. (17151.60) mn for the quarter ended March 31, 2016 as compared to net profit of Rs. 2092.80 million for the quarter ended March 31, 2015. 

Total Income has decreased from Rs. 52633.60 mn for the quarter ended March 31, 2015 to Rs. 47454.80 million for the quarter ended March 31, 2016.

The Bank has posted a net loss of Rs. 

(27992.50) mn for the year ended March 31, 2016 as compared to net profit of Rs. 11378.00 million for the year ended March 31, 2015. 

Total Income has decreased from Rs. 213625.40 mn for the year ended March 31, 2015 to Rs. 201572.80 mn for the year ended March 31, 2016.

UCO Bank is currently trading at Rs. 34.05, down by Rs. 2.15 or 5.94% from its previous closing of Rs. 36.2 on the BSE.

The scrip opened at Rs. 35.5 and has touched a high and low of Rs. 36.7 and Rs. 33.55 respectively. So far 8723267(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4709.82 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 64.7 on 29-May-2015 and a 52 week low of Rs. 27.8 on 15-Feb-2016. Last one week high and low of the scrip stood at Rs. 39.2 and Rs. 35.8 respectively.

The promoters holding in the company stood at 72.83 % while Institutions and Non-Institutions held 17.52 % and 9.65 % respectively.

The stock is currently trading below its 200 DMA.

Eicher Motors promoters sell 4.2% stake at Rs. 2,100 crore

Following the sale, the promoter group will continue to hold 50.67% stake in EML.

Anita Lal,Mrs Rukmani Joshi and The Eicher Goodearth Trust, part of the promoter group of Eicher Motors limited ("EML" or "Company"), have informed the Company that they have sold 1,140,846 equity shares in EML, representing 4.2% of EML's equity shares, for an aggregate realization of "'Rs. 2,100 crores. This sale has been done to provide liquidity to the promoters, and the proceeds will be utilized for personal uses, such as portfolio and other investments, and for charitable purposes.

Following the sale, the promoter group will continue to hold 50.67% stake in EML. The promoters intend to maintain a majority share in EML, and do not plan to sell any further shares in the foreseeable future.

Mr. Siddhartha Lal,Managing Oirector and CEO, Eicher Motors limited, and also a part of the promoter group, said "EML is a standout success and we are immensely proud of our company's journey so far. We believe there is a huge growth potential for EML in its domestic and overseas markets. We have the right business strategy and management team to deliver our growth aspirations. I am excited to continue to steer EML's next phase of growth."

Crompton Greaves Consumer Electrical lists at Rs.126.20

The 12-month target price post listing could be around Rs.152. The company is expected to reduce its debt totally by FY18, while its net profit is estimated at around Rs.310 crore in FY17 and Rs.380 crore in FY18.

Crompton Greaves Consumer Electrical, the de-merged entity of Crompton Greaves, today got listed at Rs. 126.20 on BSE. Last year, the shareholders sold their entire stake at Rs. 93 per share.

The 12-month target price post listing could be around Rs.152. The company is expected to reduce its debt by FY18 completely, while its net profit is estimated to come in at Rs.310 crore in FY17 and Rs.380 crore in FY18.

Meanwhile, HSBC Securities and Capital Markets (India) Private Limited and Barclays Bank PLC have made an open offer to buy 26% stake in the company at Rs.104 per share.

Today, the scrip opened 18.58% lower at Rs.126.20 as against its offer price of Rs.155 per share.

Dr Reddys Q4 net dives 86% on Venezuelan write-off and other top pharma news

Pharmaceutical companies Wockhardt and Alembic have challenged in the Delhi High Court the National Pharmaceutical Pricing Authority’s recent moves related to fixation and revision of prices of medicines.

Pharma major Dr Reddy’s Laboratories consolidated net profit plunged 86 per cent at Rs 74.6 crore in the fourth quarter ended March 31, 2016, against Rs 519 crore earned in the corresponding quarter of the previous financial year. The revenue of the Hyderabadbased company declined 3 per cent to Rs 3,756 crore (Rs 3,870 crore).

Pharmaceutical companies Wockhardt and Alembic have challenged in the Delhi High Court the National Pharmaceutical Pricing Authority’s recent moves related to fixation and revision of prices of medicines. 

Six hundred tuberculosis (TB) patients will get access to Bedaquiline drug in India for the first time starting this month. The Union Health Ministry is introducing the drug for patients who have encountered earlier failures in treatment of the infection. Such patients have increasingly gone on to become resistant to basic first line and second line of anti-TB drugs. 

Sun Pharmaceutical Industries said it isn’t aware of any adverse findings related to the manufacturing plants of Ranbaxy Laboratories — which it acquired in 2014 — that are said to be part of an affidavit filed in the Supreme Court by the drug regulator.“ Based on our understanding of the matter, there is no truth to the assertions you are making,” a Sun spokesperson said in an email to ET. Affidavit was submitted by DCGI following a PIL filed by activist-lawyer ML Sharma.

Glenmark Pharma posted over 13-fold jump in consolidated net profit to Rs143.04 crore during January-March quarter, against Rs10.61 crore during the same period last year, on the back of robust sales across all markets, including the US, Europe and India. Consolidated revenue rose to Rs2,306.67 crore against Rs1,775.81 crore last year.

Drugmaker Sanofi has recalled four batches of painkiller medicine Combiflam due to delay in the disintegration time of the tablet. This qualifies as a class-III recall where consumption of the product is not likely to cause adverse health consequences, a company spokesperson said.

Bank of Maharashtra down 2%; bad loans rise

The bank posted a net loss of Rs.119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans.

Bank of Maharashtra stock was down by 2% at Rs.29. The bank posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans. Total income of the bank declined to Rs 3,566.68 crore in the January-March quarter, as against Rs 3,598.89 crore in the same period a year ago.

The scrip opened at Rs. 29 and has touched a high and low of Rs. 29.1 and Rs. 28.95 respectively. So far 8063(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3469.95 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.15 on 15-May-2015 and a 52 week low of Rs. 26.75 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 31.8 and Rs. 28.95 respectively.

The promoters holding in the company stood at 81.61 % while Institutions and Non-Institutions held 13.4 % and 4.99 % respectively.

The stock is currently trading below its 200 DMA.

RIL to rebrand some digital stores to boost Jio

The large format Reliance Digital stores will continue its existing format as multi-brand electronics store but will also sell Lyf handsets and connections among others.

Reliance Retail will rebrand its 1,500 small-format Reliance Digital Express and Digital Express Mini outlets as Reliance Jioin the ongoing build-up to the launch of its 4G services, reports a financial newspaper.

The outlets will be the company's front-end to sell both 4G connections and devices as it gears up for the Reliance Jio launch in October, says the business daily.

Reliance Retail is the country's largest consumer electronics retailer with 1,748 outlets in over 500 cities as of March 2016. 

The large format Reliance Digital stores will continue its existing format as multi-brand electronics store but will also sell Lyf handsets and connections among others.

The smaller rebranded Reliance Jio stores will sell 4G connections and smartphones, including partner models of other brands and will also have a customer service operation.

The retail push strategy comes amid slow sales of Reliance's Lyf handsets, two senior industry executives have been quoted as saying by the paper. 

Distributors and retailers say they are hoping sales will pick up after the much-awaited launch of 4G services, according to the daily.

Reliance Jio will bundle 10 GB of 4G data free for the first 3 months with Lyf handsets, reports the daily. 

Eventually, the telecom company will also have the largest number of brand stores among its peers on account of this rebranding exercise, says the paper.

Top 18 stocks in focus today: Crompton Greaves, Cairn India, Bank of Baroda

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

Crompton Greaves: Crompton Greaves de-merged entity Crompton Greaves Consumer Electrical, which deals in consumer products business, is going to list today.

Cairn India: Cairn India reportedly said it has extended by two years the repayment of a controversial $1.25 billion loan it had extended to its parent group firm. 

Bank of Baroda: Bank of Baroda, will announce its fourth quarter result today. IIFL estimates the bank’s net profit to go up to Rs.625 crore at a rate of 4% yoy and decline of 119% qoq.

Glenmark Pharma: Glenmark Pharmaceuticals Ltd posted a net profit after taxes, minority interest and share of profit of associates of Rs. 1714.86 mn for the Quarter ended March 31, 2016. 

Bharti Airtel: Bharti Airtel said that it would implement a benchmark of 1.5 per cent for call drops voluntarily, against the 2 per cent allowed under the Telecom Regulatory Authority of India's (TRAI) prescribed regulations for quality of services.

Dr.Reddys Lab: Dr Reddys Laboratories Ltd, Hyderabad's multinational pharmaceutical company, reported standalone net loss of Rs.5.70 crore for the quarter ended March 31, 2016. However, it had reported net profit of Rs.571.42 crore in the corresponding quarter of the previous year and Rs. 236.80 crore in the preceding quarter.

Bank of Maharashtra: The bank posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans. Total income of the bank declined to Rs 3,566.68 crore in the January-March quarter, as against Rs 3,598.89 crore in the year-ago period.

Alok Industries: Lenders to troubled textile company Alok Industries Ltd are now looking to engage Operations and Management (O&M) agency to look after affairs of the company, reports a financial newspaper.

Havells India: Havells India is looking at growing the business both through organic and inorganic opportunities, Chairman and MD Anil Rai Gupta has been quoted as saying by a business daily. 

Arvind: The company’s consolidated revenue stood at Rs. 2,319.56 crore, up 13.68% yoy and 7.51% qoq.

Reliance Power: The Government has declined Anil Ambani-led Reliance Power's request to let it mortgage coal blocks attached to Sasan Ultra Mega Power Project (UMPP) in Madhya Pradesh to lenders (including banks from the US, China and Singapore), reports a financial newspaper.

Nestle India: Nestle India reported standalone net profit of Rs.259 crore for the quarter ended March 31, 2014, registering decline of 19.13% yoy, but growth of 41.38% qoq.

Reliance Retail: Reliance Retail will rebrand its 1,500 small-format Reliance Digital Express and Digital Express Mini outlets as Reliance Jio in the ongoing build-up to the launch of its 4G services, reports a financial newspaper.

MRPL: The company’s standalone revenue stood at Rs. 9,292.91 crore, down 17.5% yoy but up 5.38% qoq.

TVS Srichakra: Madurai-based company two-wheeler and three-wheeler tyre maker TVS Srichakra plans a capex of Rs. 160 crore, reports a business daily. The capital will be used to expand its production capacity in view of favourable growth outlook in the domestic two-wheeler market, besides to boost exports, Director P. Vijayaraghavan told the daily.

Union Bank: Union Bank of India, one of the leading public sector banks in India, will announce its Q4 numbers today. IIFL estimates that the bank’s net profit is expected to plummet to Rs. 331 crore, at a rate of 25% yoy; however, the same is likely to increase 319% qoq.   
 
Future Group: Online fashion retail business will not work in India because the model of spending so much money to acquire a customer is not appealing, Future Group founder Kishore Biyani has been quoted as saying by a business daily.

United Breweries: United Breweries Ltd, one of the leading distilleries in India, will announce its Q4 result today. As per IIFL’s forecast, the company’s net revenue for Q4 FY16 is likely to soar to Rs. 1,217 crore, at a rate of 4.7% yoy and 5.1% qoq.       

Firstsource Solutions: The company’s consolidated revenue stood at Rs. 873.03 crore, up 6.75% qoq and 15.78% yoy.

Vijaya Bank: Vijaya Bank on Thursday reported a 26.5% decline in net profit to Rs.71.3 crore for the quarter ended 31 March.

Bharti Airtel announces Self Regulation on Quality Of Service

Gopal Vittal, MD & CEO (India & South Asia), Bharti Airtel said, "At Airtel, we are absolutely passionate about serving our customers and have deployed globally benchmarked technologies and processes. This self-regulation on Quality of Service further underlines our commitment to our customers despite the challenges of limited spectrum availability and acquisition of sites in urban areas."

Bharti Airtel, India's largest telecommunications services provider, today announced a 25% more stringent voluntary  benchmark of 1.5% for mobile call drops versus the current TRAI prescribed norm of 2% under the Quality of Service regulations.

Based on the calculation of the call drop rate during network busy hour on a monthly average, any amount calculated for exceeding the 1.5% voluntary benchmark, subject to a maximum of Rs. 100 crores per annum, will be contributed by Airtel towards the education of underprivileged children in rural areas.

This is yet another industry first from Airtel and underlines its commitment to serve its customers with world-class services by prescribing to stricter Quality of Service norms. The Company will report its Quality of Service data and the amount calculated on a quarterly/annual basis to ensure transparency.

Gopal Vittal, MD & CEO (India & South Asia), Bharti Airtel said, "At Airtel, we are absolutely passionate about serving our customers and have deployed globally  benchmarked  technologies and processes. This self-regulation on Quality of Service further underlines our commitment to our customers despite the challenges of limited spectrum availability and acquisition of sites in urban areas."

"We have already rolled out Project Leap, our pan-India network transformation program, under which we transparently report our site deployments and invite our customers to log their network issues and site requirements. During FY 16, Airtel invested over Rs.15,000 crores across India towards deployment of over 88,000 sites. This is the largest network deployment anywhere in the world outside of China and reinforces our sharp focus on building a future ready network." Gopal Vittal added.

As per the new benchmark, Airtel will contribute INR 1 lakh for every 0.01% increase in call drop rate beyond 1.5% every month in each circle of operation. Airtel has decided to apply this standard benchmark across the country despite the constraint of difficult operating conditions in some areas, in particular hilly regions such as Jammu & Kashmir, Himachal Pradesh and North East.

RIL gives 8-10% hike to 20,000 junior & mid-level managers

Letters were issued to these employees, while senior managers will receive theirs along with variable pay this week, says report.

Reliance Industries has given out increments and bonuses to its 20,000 employees with junior & middle managers, according to reports. The company has given 8-10% hike.

Letters were issued to these employees, while senior managers will receive theirs along with variable pay this week, says report.

RIL had reported a net profit of Rs 27,630 crore in the March quarter.

The scrip opened at Rs. 977 and has touched a high and low of Rs. 983.2 and Rs. 975.7 respectively. So far 667634(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 315976.79 crore.

The BSE group 'A' stock of face value Rs. 10 has 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. 986 and Rs. 967.5 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 is currently trading below its 50 DMA.