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Tuesday, February 09, 2016

Grey Market Premiums - Feb 9 2017

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Dr Reddy’s Lab, NTPC, Hindalco among 25 Stocks in focus today

NTPC: The Supreme Court on Monday asked the Madhya Pradesh government to defreeze NTPC’s bank accounts and withdraw its notice to cancel registration of its 4,760-megawatt (MW) Vindhyachal Super Thermal Power Plant in the state, reports a financial newspaper.

JK Tyre & Industries: JK Tyre & Industries , leading tyre manufacturers in India, reported consolidated net profit of Rs.110.64 crore for the quarter ended December 31, 2015, registering growth of 20.51% yoy.

NBCC: The company has bagged business worth Rs. 2,525.86 crore (approx) in the last month.

PFC, REC, NHPC: Rural Electrification Corporation (REC) and Power Finance Corp (PFC) may buy Government's shares in NHPC, according to reports. Report says that this move comes as the government had earlier said that it will come out with an alternative strategy to push PSU disinvestment.

Atul Auto: The company’s standalone revenue stood at Rs. 151.70 crore, clocking growth of 8.88% yoy.

Dr Reddy’s Lab: Dr. Reddy's announced that its US subsidiary, Promius Pharma, LLC, U.S.has received approval for Sernivo (betamethasone dipropionate) Spray, 0.05% from the U.S. Food and Drug Administration.

Suzlon Group: The company announced the completion of the Type Testing and Certification of its S111 turbine for 50 Hz and 60 Hz variants.

Wipro: Wipro announced that it has won an IT infrastructure transformation contract from the ASSA ABLOY Group, headquartered in Sweden. ASSA ABLOY is the global leader in door opening solutions.

SRF: The company's total income has decreased from Rs. 1,117.8 crore for the quarter ended December 31, 2014 to Rs. 1,106.6 crore for the quarter ended December 31, 2015.

United Bank of India: The bank received approval for raising Additional Tier - 1 capital under BASEL-III norms up to Rs. 1000 crore. through issuance of Perpetual Debt Instruments in the form of subordinated, non-convertible, non-cumulative, listed, Basel-Ill compliant Additional Tier1 Bonds in the form of Debenture/ Promissory Notes of the face value of Rs. 10 lacs each on private placement basis for inclusion in the Additional Tier1 Capital of the Bank for the purpose of ascertaining the capital adequacy ratios.

Strides Shasun: Strides Shasun, pharmaceutical industry major, reported consolidated net profit of Rs. 58.81 crore for the quarter ended December 31, 2015, registering growth of 112.23% qoq.

GlaxoSmithkline Consumer Healthcare: GlaxoSmithkline Consumer Healthcare, pharma major, reported standalone net profit of Rs.131.85 crore for the quarter ended December 31, 2015, registering growth of 36.76% yoy.

AIA Engineering: The company’s consolidated revenue stood at Rs. 493.07 crore, down 4.13% yoy but up 0.99% qoq.

Polaris Consulting: The Company’s consolidated revenue stood at Rs. 517.58 crore, witnessing marginal decline of 0.02% qoq but clocked growth of 9.02% yoy.

Bombay Dyeing: The company reported its Q3 net loss at Rs.78.1 crore for the quarter ended December 31, 2015 as compared to Rs.65.9 crore for the quarter ended December 31, 2014.

Inox Wind: INOX Wind reported a 2.4% increase in standalone net profit at Rs.103 crore for the third quarter that ended on December 31, 2015.

DB Realty: The company said that it allotted over 7.17 crore redeemable preference shares to three of its subsidiaries pursuant to scheme of amalgamation of Gokuldham Real Estate Development Company.

Monsanto India:Monsanto India Ltd posted a net profit of Rs. 407.60 mn for the quarter ended December 31, 2015 as compared to Rs. 483.40 million for the quarter ended December 31, 2014.

Balrampur Chini Mills: The company’s standalone revenue stood at Rs. 848.88 crore, up 0.85% yoy and 69.41% qoq.

VST Tillers Tractors: The company’s standalone revenue stood at Rs. 151.79 crore, up by 42.25% yoy and 0.56% qoq.

Piramal Enterprises: The company reported a 29% increase in net profit at Rs.322 crore for the third quarter that ended on December 31, 2015.

HCL Technologies: HCL Technologies announced the launch of an Internet of Things (IoT) Incubation Center in Redmond, Washington, USA, designed to leverage Microsoft Azure IoT Suite to accelerate enterprise IoT adoption.

T.V. Today Network: T.V. Today Network, one of India's leading English-Hindi news television networks, reported standalone net profit of Rs. 36.90 crore for the quarter ended December 31, 2015, registering growth of 40.09% yoy.

Phoenix Lamps: The company recorded a fall of 15.7% in its net profit at Rs. 7.42 crore for the quarter ended December 31, 2015 as compared to Rs.8.81 crore for the quarter ended December 31, 2014.

Gail(India): The Tamil Nadu government has asked the Centre to rescind the notification on GAIL gas pipeline passing through the state. Gail India Ltd will announce its financial results today. IIFL forecasts the company’s net revenue for Q3 FY16 to tumble to Rs. 14,080 crore, at a rate of 5.9% yoy and 0.6% qoq.IIFL expects net profit to plummet to Rs. 437.6 crore at 27.6% yoy and 0.7% qoq.

Dr Reddy’s Lab: Dr Reddy’s Laboratories Ltd, India’s second largest pharmaceutical company, will announce its financial results today. IIFL forecasts the company’s net revenue for Q3 FY16 to surge to Rs. 4,093 crore, growing at a rate of 6.5% yoy and 2.6% qoq. IIFL expects EBIDTA margin at 29.2%, with a yoy rise of 6 bps.

Ramco Cement: The company will announce its Q3 results today. IIFL forecasts the company’s net net profit for Q3 FY16 to spurt to Rs. 64.4 crore, growing at a rate of 180% yoy; however, it is expected to fall 53.6% qoq.

SAIL: IIFL forecasts the company’s net revenue for Q3 FY16 to decline to Rs. 9,180 crore, at a rate of 17.3% yoy and 0.8% qoq. IIFL expects EBIDTA margin at -7.6%, with a yoy fall of 18.5 bps.

Motherson Sumi: Motherson Sumi Systems Ltd, one of the leading auto parts and equipment manufacturers, will announce its Q3 results today. IIFL forecasts the company’s net profit for Q3 FY16 to fall to Rs. 312.80 crore, growing at a rate of 23.1% yoy and 9% qoq.IIFL expects net revenue to surge to Rs. 9,401 crore at 2.8% yoy and 2.2 qoq.

MOIL: MOIL Ltd, a mining firm, will announce its financial results today. IIFL forecasts the company’s net profit for Q3 FY16 to fall to Rs. 49 crore, at a rate of 54.6% yoy; however, it is likely to rise marginally.

Hindalco Industries: Hindalco Industries Ltd, one of the leading aluminium producers in India, will announce its financial results today. IIFL forecasts that the company is likely to report a loss of Rs. 159 crore for Q3 FY16. IIFL expects EBIDTA margin at 7%, with a yoy fall of 3.7 bps.

Apollo Tyres: IIFL forecasts the company’s net revenue for Q3 FY16 to decline to Rs. 2,890 crore, at a rate of 6.9% yoy and 3.5% qoq.

Bharat Forge: Bharat Forge Ltd will announce its financial results today. IIFL forecasts the company’s net revenue for Q3 FY16 to fall to Rs. 1,083 crore, at a rate of 9.6% yoy and 3.1% qoq.

Britannia Industries Ltd: Britannia Industries Ltd, one of the leading producers of packaged foods in India, will announce its Q3 results today. IIFL forecasts the company’s net revenue for Q3 FY16 will surge to Rs. 2,336 crore, growing at a rate of 14.9% yoy and 5.8% qoq.

Aurobindo Pharma: Aurobindo Pharmaceuticals, one of India’s leading drug makers, will announce its financial results today. IIFL forecasts the company’s net revenue for Q3 FY16 to rise to Rs. 3,553 crore, growing at a rate of 10.8% yoy and 5.3% qoq.

Govt curtails CIL mine expansion on pollution concerns

The Indian Government has said that it has given green clearance to a subsidiary of Coal India for phase one production expansion of Kusmunda mine in Chhattisgarh to only upto 26 million tonnes per annum (MTPA) instead of 50 MTPA sought earlier. As per reports, the Kusmunda open cast mine, which presently produces 18.75 MTPA of coal of power grade, is operated by South Eastern Coalfields Ltd (SECL) -- the country's largest coal producing company and the flagship entity of state-owned Coal India Ltd (CIL). As per reports, SECL had initially sought green clearance for production expansion upto 50 MTPA in two phases, entailing an investment of Rs 7,612.33 crore MTPA in two phases, entailing an investment of Rs 7,612.33 crore. Commenting on the issue, a senior Environment Ministry official told the media, "Based on the recommendations of the EAC, the ministry has given environment clearance (EC) for expansion of Kusmunda open cast coal mine from 18.75 MTPA to 26 MTPA in mining lease area of 1,449.86 hectare under phase one, subject to certain conditions." “Further, production expansion of the Kusmunda project, located in Korba district, would depend on effective pollution control measures adopted by the company,” he added.

E-Commerce ind likely to generate 2.5 lakh jobs in 2016

E-commerce industry is likely to generate nearly 2.5 lakhs jobs in the online retail in 2016 including temporary employees, supply chain, logistics, ancillary units etc, reveals the ASSOCHAM recent paper. As per the estimates, 2.5 million staff will be required to work within the e-commerce industry by 2016. The paper shows that majority of e-commerce departments and businesses have increased their turnover since last year and present a huge opportunity for the industry to develop further. According to the ASSOCHAM recent paper, nearly 3,50,000 staff working under e-commerce industry and are looking to bring in new staff over next 12 months. Increasing smartphone ownership and investment from retailers are fuelling the rapid growth of m-commerce in India. Releasing the ASSOCHAM paper, D S Rawat, Secretary General ASSOCHAM said, the popularity of smartphones and other emerging channels increase with consumers, more retailers are beginning to merge and combine multiple departments and operations for all of their customers. "The hiring activities are expected to grow by over 60-65 per cent in this sector and may help create between 5-8 lakh employment opportunities in two to three years," he added. The paper further suggests that a considerable amount of staff also work in areas supporting the e-commerce industry, including distribution and delivery, customer support and website development. While M-commerce currently represents only 20-25 percent of the India’s e-commerce market, this share is expected to grow as businesses, including those operating in the online to offline space such as taxis and restaurants, look to seize greater market share. It is also likely to be further accelerated by advancements in mobile technology and improvements in security and connectivity of shopping and payment platforms. The paper says that India's e-commerce market was worth about USD 3.8 billion in 2009, it went up to USD 17 billion in 2014 and to USD 23 billion in 2015 and is expected to touch whopping USD 38 billion mark by 2016.

27 PSBs write off 1.14 lakh-cr bad loans in 2012-15

Rs 1.14 lakh crore of bad loans have been written off by 27 public sector banks (PSBs) during FY 2012-15, with the last fiscal alone witnessing a steep 53 per cent rise in write-offs as part of the balance sheet clean-up, said the media reports.

For the fiscal ended March 2015, public sector banks have written off loans amounting to Rs 52,542 crore, an increase of 52.6 per cent over the previous fiscal, as per the RBI data.

About one-fifth of bad loans was written off in 2014-15 as the gross non-performing assets (NPAs) at the end of March 2015 rose to Rs 2,67,065 crore, reported PTI.

These 27 banks had written off Rs 34,409 crore in 2013-14 while Rs 27,231 crore in 2012-13. So in aggregate, a staggering Rs 1.14 lakh crore were written off in the last three fiscals.

For 2014-15, SBI topped the chart of PSBs by writing off Rs 21,313 crore followed by Punjab National Bank Rs 6,587 crore and Indian Overseas Bank Rs 3,131 crore.

Besides, Allahabad Bank's write-off figure stood at Rs 2,109 crore, Central Bank of India Rs 1,995 crore, IDBI Bank Rs 1609 crore, Bank of Baroda Rs 1,564 crore, Syndicate Bank Rs 1,527 crore, Canara Bank Rs 1,472 crore and Uco Bank Rs 1,401 crore.

PSU banks have been witnessing a continuous surge in bad loans. As on September 2015, the gross NPAs of PSBs have increased to Rs 3,00,743 crore as against Rs 2.67 lakh crore in March 2015.

Concerned over mounting bad loans, RBI in consultation with the government is working on methodologies to clean up balance sheet of state-owned banks by March 2017.

RBI Governor Raghuram Rajan recently announced a March 2017 deadline for banks to clean up their balance sheets which are plagued by high incidence of bad assets.

While Rajan had assured that enough capital is available for public sector banks, he cautioned that some of the banks may witness erosion of profitability in the short run due to cleaning of books.

"We believe enough capital is available. While the profitability of some banks may be impaired in the short run, the system, once cleaned, will be able to support economic growth in a sustainable and profitable way," he had said.

The Finance Minister has indicated he will support the public sector banks with capital infusions as needed.

The government last year announced a revamp plan, 'Indradhanush', to infuse Rs 70,000 crore in state-owned banks over four years, while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirements in line with global risk norms Basel III.

As per the capital infusion road map, PSU banks will get Rs 25,000 crore this fiscal and as well as the next fiscal and Rs 10,000 crore each in 2017-18 and 2018-19.

Out of Rs 25,000 crore set for the current fiscal, the government has infused about Rs 20,088 crore in 13 public sector banks.

Forex reserves rise for second straight week, up by $1.6bn

Marking a second straight gain, the country’s foreign exchange reserves jumped in the week ended January 29, 2016 probably driven by heavy dollar buying activity by the central bank, lifting the outlook for Asia’s third biggest economy amidst ongoing global headwinds that have resulted in high financial market volatility. India’s forex reserves climbed by USD 1.59 billion to USD 349.15 billion in the week ended January 29, 2016, the Reserve Bank of India (RBI) said. In the prior week, foreign exchange reserves had climbed by USD 355.10 million to USD 347.56 billion. Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 1.58 billion to USD 326.63 billion in the week ended January 29, 2016 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves. India's gold reserves stood unchanged at USD 17.240 billion in the week ended January 29, 2016 from the previous week, data showed. A robust forex reserves kitty will help the Indian economy overcome any possible volatility in foreign capital flows amidst heightened global economic uncertainty on account of a continued commodity slump and worries over a China slowdown.

Need new work culture of completing projects before time: Modi

Sharply criticising project delays of the past that lead to huge cost overruns, Prime Minister Narendra Modi said a new work culture of conceiving and completing projects before time is needed to boost economic growth, reported PTI. Rejecting opposition Congress' charge that projects he has been inaugurating in recent months were all started during their time, he said as Prime Minister he would have been happy if the projects were completed 15 years back and led to creation of jobs. Dedicating to the nation Indian Oil Corp's Rs 34,555-crore refinery here, Modi said the government is targeting reduction in oil import dependence by 10% by 2022 by creating policy environment that supports raising domestic output as well as by mixing bio-fuels like ethanol in auto fuels. "It is very natural that I am happy to inaugurate projects. But as Prime Minister of a country, I don't feel happy at all. I would have been happy if these works would have been completed 15 years back, when lakhs of people here would have got jobs," he said. He added that projects in the country face obstructions in the form of court proceedings, tender process and sometimes agitations, making them very costly. "For the development of the country, we all - citizens, bureaucracy, industry and policy makers, have to give birth to such a culture where projects start on time, progress within the scheduled time, and finish within the pre-decided time so that country gets the benefit, the benefit comes before scheduled time," he said. The government, he added, was "trying to bring in this change so that there is no serious loss to the exchequer because of delay." Initiatives have to be futuristic and completed before the designated time period. "Delays shouldn't occur," he said, adding that in the past, ideas originated 50 years back, would take 10 years to put them on paper and conceived, a similar number of years to lay foundation stone and many more years before it is completed.

India has over 15 lakh registered companies

The country has more than 15 lakh registered companies, but only 10.7 lakh of them were active at the end of 2015, according to the media report. Against the backdrop of the government working on ways to improve the ease of doing business, the total number of companies registered in the country went up to 15.19 lakh at the end of December last year. This is higher than 14.39 lakh companies registered at the end of December 2014, reported PTI. Latest data compiled by the Corporate Affairs Ministry show that there were over 15.19 lakh companies as on December 2015 but only 10.7 lakh were active. Among active companies, 10.63 lakh were limited by shares. Out of the total registered companies, more than 2.82 lakh have been shuttered while 1.39 lakh entities were inactive. As on December 2015, as many as 27,596 companies were in the process of being closed down. The Corporate Affairs Ministry is implementing the Companies Act, 2013 -- whose most provisions came into force in April 2014. After extensive consultations, a government-appointed high level panel earlier this month recommended a slew of amendments to the Act. The panel "endeavoured to reconcile the competing interests of the various stakeholders keeping in mind the difficulties and challenges expressed by them," the Ministry had said in a release. According to the release, the committee was also mindful of the government's objective of furthering ease of doing business, encouraging start-ups and the need for harmonising various laws.

FM urges states to step up social, infra spending: Reports

According to media reports, the country’s Finance Minister Arun Jaitley has called on state governments to bolster spending on key development areas such as infrastructure and poverty alleviation schemes. Jaitley said that with the 14th Finance Commission allocating higher funds to states, their development spending is expected to go up. The 14th Finance Commission had in 2015 recommended a record 10 per cent rise in the states’ share in the centre’s taxes to 42 per cent, a recommendation that has been accepted by the union government. “We expect that those states whose resources have been increased after the implementation of the 14th Finance Commission will spend further on infrastructure creation and anti-poverty programmes since their income have increased considerably”, Jaitley said, the PTI reported. Jaitley said that many states had asked him for higher allocation of funds in the upcoming Union Budget, during their pre-budget meeting with the Finance Minister, as they seek to implement Pay Commission recommendations and those under the centrally-sponsored schemes. “The states have discussed their own resources and each one of them is competing for higher resources, higher investment and they are all geared up to fight this environment of global slowdown so that India remains an economy which is on the move,” he said, the PTI added.

Tech Mahindra - All in One

Tech Mahindra - All in One

Rs 1 lakh cr disbursed under MUDRA Yojana: PM

Loans worth about Rs 1 lakh crore have been sanctioned to small entrepreneurs under the Pradhan Mantri MUDRA Yojana, Prime Minister Narendra Modi said, emphasising that the government wants youth to be job creators and not job seekers. Speaking at the inauguration of Indian Oil Corp's (IOC) Rs 34,555-crore Paradip Refinery, Modi said apart from public and private sector, there was a need for developing "personal sector" in which youth can become self sufficient, start businesses and generate new employment avenues. "We do not want youth of the country to become job seekers, we want that they become job creators so that they give employment to one, two or five people. "So, under MUDRA Yojana we are giving fund to the youth. We have disbursed about Rs 1 lakh crore. Within such less time, giving so much money to such people is not a small thing," Modi said. Under Pradhan Mantri MUDRA Yojana, which was launched in April last year, loans between Rs 50,000 and Rs 10 lakh are provided to small entrepreneurs. In India, about 65 per cent of the population is below the age of 35 years and for the progress of these youth, there was a need to boost entrepreneurship, Modi said. "We need to create employment opportunities for youth in the country. So, through MUDRA Yojana, we wanted to make the youth self sufficient," he said, adding that the government is moving ahead with the economic principle to make each individual and every family self sufficient. The Micro Units Development and Refinance Agency Ltd (MUDRA) focuses on the 5.75 crore self-employed who use funds totaling Rs 11 lakh crore and provide jobs to 12 crore people.

Implementation of flagship schemes "big test" for India: Kochhar

India must remain focussed on executing various ambitious programmes like Make in India and strengthen institutional framework, top banker Chanda Kochhar has said while underlining that the implementation of these campaigns is going to be a "big test" for the country. "There is a genuine effort and a genuine intent on the part of the government to make these changes happen. We are seeing a whole lot of focus on e-governance... I think what is stopping us from getting to the nine or 10 per cent growth rate is that we still have to do and execute the lot of the intent that we have laid out," said Kochhar, MD and CEO of ICICI Bank, in a keynote address to the India Conference 2016 of the Harvard University. Kochhar stressed on the need to remain focused on the path of development and fast growth charted out by the government, reported PTI. "We need to remain focused on executing all the intent that we have laid by ourselves. That is going to be the big test for India," the ICICI Bank head said at the Harvard Business School, which organised the conference in association with the Harvard Kennedy School. Kochhar, as per the media reports, also underscored the need to strengthen the institutional framework. "Whether it is the bankruptcy code, whether it is the speed at which our parliamentary system works, things like GST bill is yet to be passed, so we have to really improve our institutional framework," she said. "We also have to recognise the fact that when we talk of manufacturing or infrastructure, there are quite a few impediments as things are set up. When people have to get access to land, have to get access to natural resources, I think, projects get delayed beyond a point. "And that is something where during the implementation process, we have to bring about a lot more efficiency," the top Indian banker said. If India has to reap the benefits of the demographic dividends, India has to focus on some of the long-term things like education, skill development and health, she said. "Because only when we equip our youth with the education, with skills and make them employable, then only India would get the true demographic dividend," Kochhar said. India, she said, starts with huge set of advantages, including the demographic dividend. "It is really upon us; how do we take benefit of it. Similarly the dichotomy is infrastructure. We have invested very less in infrastructure which gives us huge potential to create investments and the multiplier factor. But if we do not land up doing that, we would create a bottleneck to our growth," she said.

NBCC secures biz worth Rs 2,525.86 cr in January

State-owned real estate developer National Buildings Construction Corporation Ltd (NBCC) on Monday said it has secured business amounting to Rs 2,525.86 crore (approx) in the month of January, 2016. The company has secured Project Management Consultancy work (PMC) amounting to Rs 2,458.88 crore out of total business in the month of January, NBCC said in a filing to the Bombay Stock Exchange on February 08, 2016. It has bagged another order worth Rs 66.98 crore for Engineering, Procurement & Construction work (EPC) in January, 2016, the company added. Meanwhile, shares of the company closed at Rs 949.45 apiece, up 0.79 per cent, from previous close on BSE.

Strides Shasun posts Rs 51.86 cr profit in Dec quarter

Bangalore-based pharma major Strides Shasun Ltd on Monday reported a consolidated net profit after taxes (PAT) of Rs 51.86 crore in the October-December quarter of FY 16. “The consolidated net profit of the company stood at Rs 19.04 crore during the same period a year ago,” said Strides Shasun Ltd in a filing to the Bombay Stock Exchange on February 08, 2016. Shasun Pharmaceuticals’ merger with the company became effective on November 19, 2015 with appointed date as April 01, 2015. In view of the merger of Shasun with the company, the figures for the various periods during the fiscal year 2015-16 are not comparable with the corresponding periods relating to the fiscal year 2014-15, the company said in a statement. The company’s consolidated total income stood at Rs 1,528.38 crore during Q3 2015-16. While it was Rs 329.1 crore in Q3 FY 15. Speaking on the performance, Strides Shasun Ltd, Executive Vice Chairman and MD, Arun Kumar said, “Considering the volatile external environment, we had a strong quarter with margins in line with guidance. We believe that we have laid a strong foundation for building the business of size and scale through organic and inorganic strategies”. The company reaffirms H2 FY16 guidance. Shasun Pharmaceuticals Ltd, Founder and Managing Director, Abhaya Kumar joined the board of Strides Shasun Ltd as an Executive Director. Meanwhile, shares of Strides Shasun closed at Rs 1,107.30 apiece, up 0.16 per cent, from previous close on BSE.

FDC | JK Lakshmi Cement | Lupin | PTC India | TAKE Solutions | Tata Power | Visaka Industries - Q3FY16 Result Update

FDC | JK Lakshmi Cement | Lupin | PTC India | TAKE Solutions | Tata Power | Visaka Industries - Q3FY16 Result Update