Indiabulls Housing Finance Q1 cons net profit at Rs.630 crore

The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs.630 crore for the quarter ended June 30, 2016 as compared to Rs.511.3 crore for the quarter ended June 30, 2015.

Indiabulls Housing Finance Ltd has announced the following results for the quarter ended June 30, 2016:

The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs.630 crore for the quarter ended June 30, 2016 as compared to Rs.511.3 crore for the quarter ended June 30, 2015. Total Income has increased from Rs.2024.9 crore for the quarter ended June 30, 2015 to Rs.2597.4 crore for the quarter ended June 30, 2016.

The unaudited standalone results for the Quarter ended June 30, 2016

The company has posted a net profit of Rs.6264.758 million for the quarter ended June 30, 2016 as compared to Rs.4993.647 million for the quarter ended June 30, 2015. Total Income has increased from Rs.19470.789 million for the quarter ended June 30, 2015 to Rs.25277.930 million for the quarter ended June 30, 2016.

The Board of Directors of the Company has declared an Interim Dividend of Rs.9/- per equity share (on the face value of Rs.2 per share) for the financial year 2016-2017.

Lupin launches oral contraceptives and other top pharma news

Cipla has been asked by the Supreme Court to deposit Rs 175.07 crore with regard to cases pertaining to overcharging of certain drugs, the pharmaceuticals major said.

Drug firm Lupin has launched its generic oral contraceptive Norgestimate and ethinyl estradiol tablets in the American market after receiving nod from the US health regulator.

Cipla has been asked by the Supreme Court to deposit Rs 175.07 crore with regard to cases pertaining to overcharging of certain drugs, the pharmaceuticals major said. Writ petitions filed in the Bombay High Court that were pending before the Supreme Court have been re-transferred to the Bombay High Court for a final hearing, Cipla said citing an apex court order.

Hyderabad-based Aurobindo Pharmaceuticals is planning to raise funds via a share sale to fund the acquisition of Israel-based Teva Pharmaceutical’s European assets, if its bid is accepted by this month. The company is in a race with two other multinationals for the acquisition. Good profits and a near-doubling of its market value has given the company a confidence booster for the acquisition. Which could cost it as much as $1.3 billion (Rs 8,700 crore). For the promoters of Aurobindo, it might become a bit difficult to keep their characteristic low profile intact towards the end of this month if they win the race. 

Biocon Ltd., India’s biggest biotech company, reported a 17 per cent increase in first-quarter profit, helped by healthy demand for its biosimilar drugs. Consolidated net profit for the April-June period rose to Rs.147 crore from Rs.126 crore a year-earlier. The Bengaluru-based firm said the consolidated total revenue increased by 11 per cent year-on-year to Rs.952 crore for the first quarter from Rs.857 crore. “Our strong performance this quarter has been driven by an all-round growth of our business across small molecules, biologics, branded formulations and research services,” said Kiran Mazumdar-Shaw, chairperson and managing director at Biocon. The small molecules contributed Rs.357 crore and its research unit Syngene added Rs.263 crore to the total sales for the quarter. 

Drug firm Sanofi India on Friday reported a 33 per cent rise in standalone net profit at Rs 85.3 crore for the second quarter ended June 30. The company had posted a net profit of Rs 64.2 crore for the corresponding period of the previous financial year, Sanofi India said in a filing to BSE. Standalone total income from operations of the company rose to Rs 608 crore for the quarter as against Rs 550 crore for the year-ago period. It said the board of directors has declared an interim dividend of Rs 18 per equity share of Rs 10 each. 

Biocon said it plans to launch recombinant human (rh)-insulin and long-acting insulin glargine in Malaysia in the second half of this fiscal, as it received regulatory approval from the South East Asian nation.

Biocon’s contract research arm Syngene International ha's lined up $200 million (around 3:1,342 crore) capex to bolster its manufacturing capabilities over the next three years. The company plans to invest $100 million (around 3:665.27 crore) in a greenfield facility at Mangaluru, the first phase of which would be operationalised by the financial year.2018-19. Besides, it has also earmarked another $100 million to create additional infrastructure at its existing facility at Bengaluru. 

Syngene surges 1%; plans US$ 200 mn for capex

The company plans to invest $100 million (around Rs.665 crore) in a greenfield facility at Mangalore, the first phase of which would be operationalised by financial year 2018-19.

Biocon’s research arm Syngene International is currently trading 1% higher at Rs.430 on BSE. The company has lined up US$ 200 million for capital expenditure.

The company plans to invest $100 million (around Rs.665 crore) in a greenfield facility at Mangalore, the first phase of which would be operationalised by financial year 2018-19. Besides, it has also earmarked another $100 million to create additional infrastructure at its existing facility at Bangalore.

Syngene International Ltd is currently trading at Rs. 429.1, up by Rs. 3.95 or 0.93% from its previous closing of Rs. 425.15 on the BSE.

The scrip opened at Rs. 426.9 and has touched a high and low of Rs. 434.8 and Rs. 426 respectively. So far 70092(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8503 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 458 on 05-Jul-2016 and a 52 week low of Rs. 295 on 11-Aug-2015. Last one week high and low of the scrip stood at Rs. 438 and Rs. 408 respectively.

The promoters holding in the company stood at 74.55 % while Institutions and Non-Institutions held 15.71 % and 6.85 % respectively.

The stock is currently trading above its 50 DMA.

RBI imposes penalty of Rs.50 million on Bank of Baroda

The RBI carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms in respect of certain AML provisions such as monitoring of transactions, timely reporting to FIU, and assigning of UCIC to customers.

Bank of Baroda has informed BSE that pursuant power conferred under Banking Regulation Act, 1949, the Reserve Bank of India has imposed a penalty of Rs.50 million on Bank of Baroda.

Pursuant to the internal audit of the Bank of Baroda, the Reserve Bank of India and investigative agencies in October 2015 were advised by the Bank of certain irregularities observed.

The RBI carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms in respect of certain AML provisions such as monitoring of transactions, timely reporting to FIU, and assigning of UCIC to customers. The Bank fully cooperated with the RBI during the process, leading to the conclusion of its findings.

The Bank has implemented a comprehensive corrective action plan, to strengthen internal controls and to ensure that such incidents do not recur.

Stock view:

 Bank of Baroda is currently trading at Rs. 153.15, up by Rs. 2.25 or 1.49% from its previous closing of Rs. 150.9 on the BSE.

The scrip opened at Rs. 151 and has touched a high and low of Rs. 153.75 and Rs. 149.05 respectively. So far 2623636(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 34769.77 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 216.25 on 18-Aug-2015 and a 52 week low of Rs. 109.45 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 166.5 and Rs. 149.5 respectively.

The promoters holding in the company stood at 59.24 % while Institutions and Non-Institutions held 33.65 % and 7.11 % respectively.

The stock is currently trading above its 200 DMA.

Indiabulls Housing Finance to consider declaration of interim dividend

The company will announce its Q1 result today.

Indiabulls Housing Finance Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 25, 2016, inter alia, to consider and approve the unaudited financial results of the Company for the quarter ended June 30, 2016 and to consider declaration of interim dividend, if any, on the Equity shares of the Company for the financial year 2016-17.

Indiabulls Housing Finance Ltd is currently trading at Rs. 745.75, up by Rs. 10.7 or 1.46% from its previous closing of Rs. 735.05 on the BSE.

The scrip opened at Rs. 737.05 and has touched a high and low of Rs. 757 and Rs. 737.05 respectively. So far 813030(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 30972.92 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 820 on 10-Aug-2015 and a 52 week low of Rs. 551 on 24-Feb-2016. Last one week high and low of the scrip stood at Rs. 738.4 and Rs. 698.9 respectively.

The promoters holding in the company stood at 24.18 % while Institutions and Non-Institutions held 61.25 % and 13.78 % respectively.

The stock is currently trading above its 50 DMA.

Vivimed soars 3%; subsidiary to sell certain products for Rs.73 cr

Vivimed Labs announced that Klar Sehen Private Limited, a wholly owned subsidiary of Vivimed announces the sale of certain products along with associated trademarks Total consideration for the identified products and trademarks is Rs. 730 million.

Shares of Vivimed Labs are currently trading 3% higher at Rs.77 on BSE after it was reported that the company’s subsidiary will certain of its products.

Vivimed Labs announced that Klar Sehen Private Limited, a wholly owned subsidiary of Vivimed announces the sale of certain products along with associated trademarks Total consideration for the identified products and trademarks is Rs. 730 million.

The scrip opened at Rs. 76.5 and has touched a high and low of Rs. 80 and Rs. 76.35 respectively. So far 167595(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 605.21 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 97 on 12-Jan-2016 and a 52 week low of Rs. 46.94 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 78.05 and Rs. 73.6 respectively.

The promoters holding in the company stood at 36.79 % while Institutions and Non-Institutions held 2.62 % and 60.59 % respectively.

The stock is currently trading below its 200 DMA.

ITC appoints Sanjiv Puri as COO with immediate effect

The Board of Directors at the meeting held on July 22, 2016, redesignated Sanjiv Puri, Wholetime Director, also as Chief Operating Officer of the Company with immediate effect.

ITC Ltd has informed BSE that the Board of Directors at the meeting held on July 22, 2016, redesignated Sanjiv Puri, Wholetime Director, also as Chief Operating Officer of the Company with immediate effect.

Stock view:

ITC Ltd is currently trading at Rs. 250.5, up by Rs. 0.95 or 0.38% from its previous closing of Rs. 249.55 on the BSE.

The scrip opened at Rs. 249.9 and has touched a high and low of Rs. 251.75 and Rs. 249.2 respectively. So far 2633917(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 301455.68 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 258.85 on 01-Jul-2016 and a 52 week low of Rs. 178.67 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 256 and Rs. 245.8 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.52 % and 44.26 % respectively.

ITC gains 2% post Q1 results

The Company posted a net profit of Rs. 23846.70 million for the quarter ended June 30, 2016 as compared to Rs. 21660.90 million for the quarter ended June 30, 2015.

ITC Ltd stock was up by 2% at Rs.255.The Company posted a net profit of Rs. 23846.70 million for the quarter ended June 30, 2016 as compared to Rs. 21660.90 million for the quarter ended June 30, 2015.

 Total Income has increased from Rs. 125891.40 million for the quarter ended June 30, 2015 to Rs. 136735.80 million for the quarter ended June 30, 2016.

The scrip opened at Rs. 251.9 and has touched a high and low of Rs. 256 and Rs. 251.9 respectively. So far 177947(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 302784.48 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 258.85 on 01-Jul-2016 and a 52 week low of Rs. 178.67 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 254 and Rs. 245.8 respectively.

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

The stock is currently trading above its 50 DMA.

ONGC Videsh arm raises $1 bn

The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026.

ONGC Videsh Vankorneft, a subsidiary of ONGC Videsh Ltd has raised $1 billion through debt instruments issued in global markets.

The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026. The notes are guaranteed by ONGC and have been assigned a Baa2 rating by Moody’s and BBB- by S&P.

The transaction is the largest achieved by an Indian insurer in 2016 and the First Dual tranche insurance from India in 2016,” the company said in a statement.

Citigroup and Standard Chartered Bank acted as Joint Global Coordinators and Citigroup, Standard Chartered Bank, DBS Bank Ltd, Mizuho Securities, MUFG and SMBC Nikko acted as Joint Bookrunners and Joint Lead Managers for this issuance.

Top 23 stocks in focus: ITC, Axis Bank, Biocon

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

ITC Ltd: The company posted a net profit of Rs.23846.70 million for the quarter ended June 30, 2016 as compared to Rs.21660.90 million for the quarter ended June 30, 2015.

Axis Bank: Axis Bank will announce its Q1 numbers today.

Kalpataru Power Transmission Ltd: The company has sought shareholders' approval to raise Rs.300 crore through issuance of non-convertible redeemable debentures.

Biocon Ltd: The pharma company posted a net profit after taxes, minority interest and share of profit of associates of Rs.1666 mn for the quarter ended June 30, 2016 as compared to Rs.1239 mn for the quarter ended June 30, 2015.

Cairn India: Cairn India Ltd posted a net profit of Rs.3595.50 million for the quarter ended June 30, 2016 as compared to Rs.5012.70 million for the quarter ended June 30, 2015.

NHPC, BHEL: NHPC has signed a Memorandum of Understanding with Bharat Heavy Electricals Limited for undertaking of Hydro Power Projects in overseas markets. As per the MOU NHPC and BHEL will look after the civil and electro mechanical package respectively.

Hindalco Industries: Hindalco Industries posted a net profit of Rs.448.10 million for the year ended March 31, 2016 where as the same was at Rs.8542.10 million for the year ended March 31, 2015.

Raymond: The company has posted a net loss of Rs.166.10 million for the quarter ended June 30, 2016 as compared to net loss of Rs.144.70 million for the quarter ended June 30, 2015.

Welspun Corp: The company entered into a definitive agreement with an American midstream major to supply over 274 kilometers (@ 184K MTs) heavy wall, large diameter, 18 meters length, Longitudinal Saw line-pipe for a prestigious Gas Project in Americas.

Kotak Mahindra Bank: The company posted a profit after tax of Rs.10671 million for the quarter ended June 30, 2016 as compared to Rs.5165.70 million for the quarter ended June 30, 2015.

Gammon India: Gammon India reported consolidated net loss of Rs.502.51 crore for the 18-month period ended 31 March.

Suven Life: The company said in a notice to BSE that its Pashamylaram’s Unit Successfully completes US FDA Inspection.

JSW Energy: The company posted a net profit after taxes, minority interest and share of profit of Associates of Rs.3665.30 mn for the quarter ended June 30, 2016 whereas the same was at Rs.3088.50 million for the quarter ended June 30, 2015.

Wockhardt: The company announced that its three plants received FDA observation.

Kirloskar Brothers: Kirloskar Brothers Ltd reported its net loss at Rs.3.3 crore in the quarter ended June 2016 as against net profit of Rs.7.7 crore during the previous quarter ended June 2015.

UPL: High Court of Gujarat at Ahmedabad vide its order dated June 23, 2016 has sanctioned the scheme of amalgamation of Advanta and UPL.

Adf Foods Ltd: The Board of Directors of the Company is convened to be held on Wednesday, July 27, 2016 at Mumbai will consider declaration of interim dividend or buy back of equity shares of the Company or a combination thereof.

Syngene International: Syngene International reported 28.32% rise in standalone net profit to Rs.59.8 crore for the quarter ended on June 30, 2016.

Power Grid: Power Grid Corporation has approved investment of Rs.2,731 crore in various projects, including setting up of a transmission system for solar park at Bhadla in Rajasthan for Rs.1,429.38 crore.

Piramal Enterprises: The company said its board has approved raising up to Rs.1,000 crore through issue of non-convertible debentures.

ONGC: ONGC Videsh Ltd has raised $1 bn through a US dollar bonds issue to finance its acquisition of 15 per cent stake in Russia's second biggest oil field Vankor, says report.

Oriental Veneer Products: The company received orders worth Rs.12.9 crore from Indian Railways.