Maruti Suzuki Q2 net profit jumps 42% to Rs. 1,225.6 cr

Total Income has increased from Rs. 124970.30 million for the quarter ended September 30, 2014 to Rs. 140708.50 million for the quarter ended September 30, 2015

Maruti Suzuki India Ltd has announced the following Unaudited Standalone results for the quarter ended September 30, 2015

The Company has posted a net profit of Rs. 12255.60 million for the quarter ended September 30, 2015 as compared to Rs. 8625.40 million for the quarter ended September 30, 2014. Total Income has increased from Rs. 124970.30 million for the quarter ended September 30, 2014 to Rs. 140708.50 million for the quarter ended September 30, 2015.

Lupin Q2 net profit at Rs.409 crore

Total Income has increased from Rs. 32836.40 mn for the quarter ended September 30, 2014 to Rs. 33627.60 mn for the quarter ended September 30, 2015.

Lupin Ltd has posted a net profit after taxes & minority interest of Rs. 4088.40 million for the quarter ended September 30, 2015 as compared to Rs. 6300.40 mn for the quarter ended September 30, 2014. 

Total Income has increased from Rs. 32836.40 mn for the quarter ended September 30, 2014 to Rs. 33627.60 mn for the quarter ended September 30, 2015.

The company has announced that the Board of Directors of the Company at its meeting held on October 27, 2015,  has appointed Mr. Jean-Luc Belingard, as Independent Director, for a period of five years, effective October 27, 2015 and Mr. Ramesh Swaminathan, Chief Financial Officer, as Director for a period of five years, effective October 27, 2015.

Sensex Struggles As Global Rally Fades; SpiceJet Surges

BSE Sensex and Nifty struggled on Tuesday after a four-week global rally ran out of steam. The Sensex fell over 150 points at its day's low while Nifty slipped to 8,217. However, markets pared some losses in noon trade.

Here Are Top 10 Developments:

1) Selling pressure was seen in oil & gas and metal stocks after amid weak commodity prices. Global crude prices fell on Tuesday, extending losses into a third week.

2) ONGC fell over 3 per cent while Vedanta and Tata Steel declined nearly 2 per cent to be among major Nifty losers.

3) HDFC shares extended losses on Tuesday as its September quarter earnings failed to impress investors. The mortgage lender, which closed 2 per cent lower yesterday, traded 2.7 per cent down.

4) Lupin, which will report its earnings today, fell 2.5 per cent. Axis Bank and Maruti Suzuki however traded higher ahead of the announcement of their quarterly results later in the day.

5) Aviation stocks were in limelight after IndiGo's Rs 3,000 crore IPO opened today. SpiceJet surged 4 per cent while Jet Airways gained over 1 per cent. Analysts say that IndiGo's IPO could help re-rate the aviation sector.

6) Eros International Media rebounded today with shares surging nearly 5 per cent. The company's management issued clarification after an analyst raised questions about its business operations. The stock had plunged nearly 20 per cent yesterday.

7) Analysts say that if Nifty falls below the support levels of 8200-8250, the selling pressure could accelerate. And markets are likely to be volatile ahead of the derivatives contract expiry on Thursday.

8) Traders are also likely to be cautious ahead of the Federal Reserve's policy panel meet on October 27-28. Investors are pricing in no chance of a rate hike this week, but could react to how the Fed's statement interprets recent soft US economic data and events in global financial markets.

9) The rupee was flat today at 64.96 against the dollar.

10) Asian shares broadly swung lower on Tuesday but China markets recovered after falling nearly 2 per cent. European markets were broadly lower in early trade.        

Up, Up and Away! Indigo IPO takes off in style, oversubscribed 0.3x

Indigo Airlines, which launched one of the biggest IPOs in the industry since 2012, has been oversubscribed 0.3 times at 13.00 hrs. The QIB portion was subscribed by 1.20 times, while retail was subscribed by 0.01 times.

Indigo Airlines, which launched one of the biggest IPOs in the industry since 2012, has been oversubscribed 0.3 times at 13.00 hrs. The airlines, which has the unique distinction of being the only profitable company in its sector, has QIB portion being oversubscribed within 30 minutes.

The QIB portion was subscribed by 1.20 times, while retail was subscribed by 0.01 times.

InterGlobe Aviation Limited has finalized the allocation of 1,08,76,215 Equity Shares at Rs. 765 (upper end of the Price Band) per Equity Share aggregating to Rs. 832.03 crore to Anchor Investors.

The Price Band is fixed from Rs. 700 to Rs. 765 per Equity Share.  The minimum Bid Lot is for 15 Equity Shares and in multiples of 15 Equity Shares thereafter. The Bid/ Issue will close on 29th October, 2015 for Qualified Institutional Buyers (“QIBs”)* and on 29th October 2015 for non QIBs. (*The Company and the Selling Shareholders may, in consultation with the GCBRLMs and the BRLMs, decide to close the Bid/Issue Period for QIBs one Working Day prior to the Bid/Issue Closing Date.)

RIL signs the new listing agreement with BSE

BSE expects that all listed companies will strive to ensure that the new Listing Agreement is signed well within the timelines specified by SEBI.

BSE has announced that the process of signing of the revised Listing Agreement as mandated under the newly introduced Listing Regulations notified by SEBI, has been initiated at the BSE, with Reliance Industries Ltd. having signed the new Listing Agreement today.

It is a matter of pride for both, that one of the top companies of the Indian corporate sector has become the first company to sign the new Listing Agreement with Asia’s oldest and the world’s fastest Stock Exchange - BSE.

It may be noted that SEBI had notified the new Listing Regulations from September 2, 2015 and the same are effective from December 1, 2015. As part of the Listing Regulations, SEBI has mandated all existing listed entities to execute a fresh and simplified Listing Agreement with the Stock Exchange where they are listed, within six months of the notification date of September 2, 2015.

BSE expects that all listed companies will strive to ensure that the new Listing Agreement is signed well within the timelines specified by SEBI. 

YES BANK operationalises IFSC Banking Unit in GIFT

Yes Bank has announced that pursuant to the approval received from the Reserve Bank of India, it has operationalised its IFSC Banking unit in the Gujarat International Finance Tec City.

Yes Bank has announced that pursuant to the approval received from the Reserve Bank of India, it has operationalised its IFSC Banking unit in the Gujarat International Finance Tec City.

The scrip opened at Rs. 745 and has touched a high and low of Rs. 752.55 and Rs. 742.2 respectively. So far 998444(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 31273.87 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 910 on 04-Mar-2015 and a 52 week low of Rs. 590 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 779.7 and Rs. 743.8 respectively.

The promoters holding in the company stood at 22 % while Institutions and Non-Institutions held 64.43 % and 13.57 % respectively.

The stock is currently trading below its 200 DMA.

Coal India slips 1% on delay in disinvestment

The Department of Disinvestment has put off the appointment of merchant bankers for CIL stake sale yet again. This will be the third disinvestment in CIL and the largest planned for FY16 in revenue terms.

Shares of Coal India Ltd, India’s largest coal miner, are currently trading 0.86% lower at Rs. 330.35 on BSE.

The Department of Disinvestment has put off the appointment of merchant bankers for CIL stake sale yet again. This will be the third disinvestment in CIL and the largest planned for FY16 in revenue terms.

On Monday, Piyush Goyal, Union Minister of State (IC), Power, Coal & New Renewable expressed confidence that it would certainly achieve the targeted growth of 50 million tonnes (mt) in the annual production this year.

The scrip opened at Rs. 334 and has touched a high and low of Rs. 334.85 and Rs. 328.4 respectively. So far 1706966(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 210461.12 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 300.75 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 344.6 and Rs. 332.1 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.48 % and 2.87 % respectively.

The stock is currently trading above its 200 DMA.

Indigo IPO QIB portion oversubscribed

The QIB portion was subscribed by 1.14 times, while retail was subscribed by 0.01 times.

Indigo Airlines IPO QIB portion was oversubscribed within 30 minutes.,

The QIB portion was subscribed by 1.14 times, while retail was subscribed by 0.01 times.

InterGlobe Aviation Limited has finalized the allocation of 1,08,76,215 Equity Shares at Rs. 765 (upper end of the Price Band) per Equity Share aggregating to Rs. 832.03 crore to Anchor Investors.

The Company proposes to open on Tuesday, 27th October, 2015, a public issue of equity shares of face value Rs. 10 each (“Equity Shares”) for cash including a share premium consisting of a Fresh Issue aggregating up to Rs. 12,722 million (“Fresh Issue”) and offer for sale of up to 22,824,018 Equity Shares comprising of 3,290,419 Equity Shares by InterGlobe Enterprises Limited; 3,006,000 Equity Shares by Mr. Rahul Bhatia; 2,741,287 Equity Shares by Mr. Rakesh Gangwal; 601,200 Equity Shares by Mr. Anil Chanana; 149,900 Equity Shares by Dr. Asha Mukherjee, 300,600 Equity Shares by Mr. Kunal Chanana, 6,012,000 Equity Shares by Mr. Newton Bruce Ashby; 100,200 Equity Shares by Mr. Sanjay Kumar; 84,000 Equity Shares by Mr. Shakti Swarup Lumba; 1,169,142 Equity Shares by Ms. Shobha Gangwal; 1,442,000 Equity Shares by Mr. Steven Eugene Harfst; 1,503,000 Equity Shares by Paul Carl Schorr, Iv (Nominee of G5 Investments) and 2,424,270 Equity Shares by The Chinkerpoo Family Trust (Trustee: Ms. Shobha Gangwal & J. P. Morgan Trust Company of Delaware) (collectively referred to as the “Selling Shareholders”) (“Offer for Sale”). The Fresh Issue and the Offer for Sale are together referred to as the “Issue”.

The Price Band is fixed from Rs. 700 to Rs. 765 per Equity Share.  The minimum Bid Lot is for 15 Equity Shares and in multiples of 15 Equity Shares thereafter. The Bid/ Issue will close on 29th October, 2015 for Qualified Institutional Buyers (“QIBs”)* and on 29th October 2015 for non QIBs. (*The Company and the Selling Shareholders may, in consultation with the GCBRLMs and the BRLMs, decide to close the Bid/Issue Period for QIBs one Working Day prior to the Bid/Issue Closing Date.)

Alkem Labs receives Sebi nod for IPO

The company is expected to utilize the fund raised for expanding footprints in global markets.

The Securities and Exchange Board of India (Sebi) has given a go-ahead to Alkem Laboratories to raise an estimated Rs, 1,500 - 3,500 cr through an initial public offering (IPO).

They filed the draft red herring prospectus (DRHP) with Sebi on August 6 for a public issue of its equity shares. The company will come out with a public offer of up to 12,853,442 equity shares.

The company is expected to utilize the fund raised for expanding footprints in global markets. The issue is being managed by Nomura Financial Advisory and Securities (India), Axis Capital, J P Morgan India and Edelweiss Financial Services.

Sterlite Technologies down 2% on net loss

The company reported net loss for the quarter stands at Rs. 15.5 crore.The total income for Q2 is at Rs.1,139 crore.

Sterlite Technologies Ltd stock was down by 2% at Rs. 91. The company reported net loss for the quarter stands at Rs. 15.5 crore.The total income for Q2 is at Rs.1,139 crore.

The scrip opened at Rs. 93.5 and has touched a high and low of Rs. 93.5 and Rs. 90.9 respectively. So far 141597(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3677.74 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. 48.45 on 27-Mar-2015. Last one week high and low of the scrip stood at Rs. 101.85 and Rs. 92.6 respectively.

The promoters holding in the company stood at 54.77 % while Institutions and Non-Institutions held 15.05 % and 30.16 % respectively.

The stock is currently trading below its 100 DMA.