}

Monday, 31 July 2017

31 July 2017 - Views & News

MARKET UPDATE

The Nifty is likely to open on flat note followed by Asian markets. Climbing crude oil prices, economic data releases, geopolitical tensions and quarterly earnings numbers are all set to test Nifty50's newly-claimed 10,000 levels today. The resistance for Nifty is at 10200 level.

Nifty Spot Levels

Support 9963 – 9928 – 9838
Resistance  10050 – 10115 - 10200

GLOBAL MARKET

 • The S&P 500 slipped on Friday on negative reactions to earnings reports from high-profile names such as Amazon, Exxon and Starbucks and a drop in shares of tobacco companies.
• Investors were also digesting data showing the US economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment.
• The Dow Jones Industrial Average rose 33.76 points, or 0.15 percent, to 21,830.31.


Sgx Nifty  -20 pts Dow +33.76 pts ,Nsdq -7.51 pts , S&P -3.32 pts‎, Bovespa +219 pts , Ftse -74 pts , Dax -49 pts , Cac -55 pts , Nikkei  -15 pts now , Crude @ $49.95 brl (-0.24), Brent @ $52.22 brl (+0.00) , Gold @ 1269.41 (+1.01), Silver @ $16.768 (+0.07), Euro @ $1.1748, JPY @ $110.5600, INR @ $64.133

Today's Corporate Action 31st July  Ex Date

ADANIENT Dividend - Rs. - 0.4000
ADANIPORTS Dividend - Rs. - 1.3000
ASTRAL Final Dividend - Rs. - 0.3000
DHUNINV Dividend - Rs. - 1.5000
EICHERMOT Dividend - Rs. - 100.0000
GABRIEL Dividend - Rs. - 0.8500
INDOCO Final Dividend - Rs. - 1.6000
IRB Interim Dividend - Rs. - 2.5000
JCHAC Dividend - Rs. - 1.5000
MENONBE Interim Dividend - Rs. - 0.7500
NILKAMAL Final Dividend - Rs. - 7.0000
PANCARBON Dividend - Rs. - 10.0000
SANOFI Interim Dividend - Rs. - 18.0000
SIMPLXREA Dividend - Rs. - 0.8000
TATACHEM Dividend - Rs. - 11.0000

Today's Key Result 31st July

AGRITECH, APTECHT, BALRAMCHIN, BANCOINDIA, BASF, BEL, BHAGYANGR, CARBORUNIV, CONCOR, CONTROLPR, EASTSILK, ESSARSHPNG, GEPIL, GODREJCP, HEXAWARE, INDIGO, IVC, JKPAPER, JKPAPER, JPINFRATEC, JPPOWER, KINGFA, MAHABANK, MURUDCERA, MURUDCERA, NATHBIOGEN, PENINLAND, PINCON, RADIOCITY, RPOWER, SHREECEM, SIEMENS, SINTEX, SRTRANSFIN, SUNDRMFAST, SURANASOL, SURANAT&P, TECHIN, TECHM, TFCILTD, TORNTPHARM, TRENT, UNIENTER, UPL, VAKRANGEE, VGUARD, VGUARD, VLSFINANCE, ZODJRDMKJ

TOP NEWS

HDFC Ltd. will sell 9.57% stake in HDFC Life through an IPO in the coming months – Positive read thru for HDFC Ltd. as prima facie benefciary of value unlocking. However the move casts doubts over whether the HDFC Life and Max Life merger, which is yet to receive the regulator’s approval, will go through. The two companies have a standstill agreement till July 31 which prevents HDFC Life from filing a draft prospectus with the Securities and Exchange Board of India. Hence, sentimentally negative for Max Financial Services.

Lupin: As per media reports, Lupin’s Pithampur facility concluded USFDA audit (between 24th July to 28th July20 17) without any 483 observations – Positive for Lupin.

Passenger vehicle players have witnessed weak retail demand (double digit drop) in volumes in July 2017 due to prebuying in the month of June before the GST rollout. Also, weak demand from SME segment (forms 25-30% of demand) has been impacted by GST as traders adjust to the new tax regime. Weak retail nos in July will have impact on wholesales dispatches for the month of August 2017. Negative read thru for PV players such as Maruti. However , Maruti is likely to have limited impact given the orderbacklog on 35% of its product portfolio.
Maruti Suzuki massive order backlog of 1.5 Lakh units across 3 models; Plans 3 new launches in FY2018. Positive ….(details in Other news)

IRB Infrastructure, IRB InvIT: IRB InvIT announces Q1FY2018 results; distribution of Rs1.55 per unit (Return of 12.6% annualized) – Positive for both IRB InvIT and IRB Infrastructure
IRB InvIT reported Rs151 crores revenue for Q1FY2018 (period of 53 days) and an EBITDA of Rs123 crores. The company generated distributable cash flow of Rs96 crores of which it distributed Rs90 crores (94% of distributable cash flow). The trust announced Rs1.55 per unit distribution (Rs1.05 as interest and Rs0.5 in form of Return of Capital). This return is for 44 days which translates into annualized payout of 12.6%. Positive for IRB InvIT and IRB Infrastructure.

OTHER NEWS

ITC Ltd to soon foray into fruits, vegetables  - long term positive for ITC as the company is planning to enhance its non-cigarette portfolio’s to lower the dependence on the cigarette business
ITC Ltd plans to soon foray into fruits, vegetables and other perishable products with investment underway to create climate-controlled infrastructure for an efficient supply-chain. Investments have also been made in farming for aromatic and medicinal plants, keeping in mind ITC's focus on agri-based health and wellness products.  The non-cigarette segment now accounts for 58% of the net segment revenue. Currently, the non-cigarette businesses deploys 77% of the company's operating capital and 88% of the employee base.

ICICI Prudential: IRDA has approved the takeover of Sahara life by ICICI Prudential – neutral read thru since the portfolio being transferred is less than 1% of ICICI Prudential’s balance sheet size

Maruti Suzuki massive order backlog of 1.5 Lakh units across 3 models; Plans 3 new launches in FY2018. Positive
Maruti Suzuki currently has a order backlog of around 1.5 lakh units across its three models – Baleno, Vitara brezza and Dzire. The Baleno and Dzire have waiting period of around 16 weeks while the Brezza has a waiting period of 22 weeks. While the company is also planning to roll out new variant of S-Cross, a new Swift and a petrol version of Brezza in FY2018. The new car launches will help Maruti to sustain growth momentum and could also lead to market share gains.  

Reliance Communication, Aircel merger deal on risk, stock to be in focus
As per media news, the proposed merger of Reliance Communications wireless business and Aircel is clouded with more uncertainty with the Department of Telecommunications setting the Supreme Court's go-ahead a condition for it to approve the deal. The department, though, is close to clearing the merger of Sistema's Indian business with RCom, people aware of the process said. The SC had earlier this year threatened to cancel Aircel's licences if the top executives of its Malaysian parent, Maxis Berhad, continued to evade Indian courts over a case where they were accused of bribing politicians and officials. Cancellation of the licences could block the deal. DoT doesn't want to risk it clearing the merger and then the court making an adverse order.

Indian Hume Pipe has secured a work order of Rs 163.5 crore from Raipur Municipal Corporation, positive read-thru

Aviation sector: Aviation companies financials reporting may hit owing to proposed accounting norms from 2019- Indigo, Spice jet, Jet Airways to be in focus  
Domestic airlines will see "varying effects" on their profits in the coming years as they will be required to show all aircraft leases on their balance sheets under a new accounting standard, Leasing of aircraft rather than outright purchase is a common practice in the airlines industry worldwide. Once the new accounting standard is in place, the carriers would have to show all such leases on their respective balance sheets which would result in " substantial new assets and liabilities". The Indian Accounting Standard 116 (Ind AS 116),  which sets out the principles for recognition, presentation and disclosure of leases -- is proposed to be effective from April 2019.

Gayatri projects: Sembcorp Industries is looking to refinance long term debt worth Rs3000 crore of its 1320MW thermal power joint venture project with Gayatri Projects, Sembcorp Gayatri Power as per media reports. The development can help in lowering interest cost of the project thereby improving cash flows of the power project.

Technocraft-Shuts its unit in Thane to upgrade effluent treatment plant
The production at Textile plant of Technocraft Industries India Ltd, situated at Murbad, District Thane, has been stopped to enable the Company to upgrade its effluent treatment plant as desired by Pollution Control Authority. The management is taking all necessary steps for the same and the production is likely to re-start in few days.

Eros International: Promoter Eros Worldwide sold 5 lakh shares or 0.5%  stake at Rs 234.2 each. Had sold 0.5% stake on July 26th  as well, stock to be in focus

Government has invited bids for appointment of merchant bankers and legal consultant to manage sale of government's 51.11% stake in Hindustan Petroleum Corp (HPCL) to Oil and Natural Gas Corp (ONGC). Government  seeks to appoint two merchant bankers and one legal consultant for ONGC-HPCL transaction. 

Marico acquires a South African hair styling brand Isoplus for around Rs 36 crore – positive read through
Marico has acquired a South African hair styling brand Isoplus for around Rs 36 crore in an effort to complete its ethnic hair care portfolio in the country. The brand of styling products such as oil sheens and gels has an annual sales of Rs 30 crore and is the market leader in the styling products with about 27% share.  At present, Marico has brands such as Caivil, Black Chic and Hercules in South African aftercare maintenance, chemical treatments and hair colour segments. South Africa accounts for nearly 7% of its international business of Marico, which is currently reeling under the recessionary pressure. We believe the company has acquired the brand to enhance its presence in the South African market to achieve good growth in long run.

Infosys sees another senior-level exit – at least 10 executives have quit since March 2016, worryingly for Infosys while the industry is going through a tough phase
As per media report, a top executive at Infosys’s products and platforms unit EdgeVerve has quit. Anirban Dey, global head and chief business officer of the Edge line of products at EdgeVerve, resigned last week and is serving his notice period. This is the seven senior-level exit in last 4-5 months.

HPL Electric & Power Ltd to be in focus- EESL issues large tender 

OTHER NEWS

MCA to look at long-pending court cases related to SFIO
Infosys can be 10 times bigger than today: Venkatesan
Idea will soon launch own handset to counter JioPhone
New valuation pegs BSNL's prime land at Rs 65K cr
No steps taken for launching Sharia-compliant MFs: RBI
NSE case: Sebi may have to recast probe committee
RCom, Aircel merger deal on sticky ground
Hyundai readies to enter commercial vehicle market in India
Investing heavily in Europe, hiring locals: Infosys
ITC's budget cigarette brand sales to rise under GST regime
SC orders Ketan Parekh to pay up Rs 50 cr in 2 months or face detention
12 NHs to double up as emergency landing airstrips
RBI must cut interest rate by at least 25 basis points: Assocham
Oil Ministry’s ₹2.7-lakh-cr refinery remains on paper 
HPCL may shelve plans to buy stakes in Russian oilfields 
FPIs infuse $4.1 billion into capital markets this month
BSE asks brokers to submit info on clients' funds by Aug 1
Centre keen to set up NFRA, to regulate audit quality
 ‘Competitive bidding positive for wind industry in the long run’ 
Cables, batteries for solar power to be taxed at 5%
No extension in deadline for filing ITR: Income Tax dept
Turning around Tata Motors’ India business need of the hour: N. Chandrasekaran
Hutchison sells Hong Kong fixed-line business to I Squared for $1.9 billion
Insolvency and Bankruptcy Code an opportunity for ARCs: Arun Jaitley
Sebi allows banks, insurers to invest in arms of IFSC-based exchanges
Sahara group to challenge IRDAI order on life insurance business transfer to ICICI Prudential
Indian govt cuts down on US lobbying to lowest in 7 years
Morgan Stanley cuts CPI forecast on benign GST, monsoon impact
Not just Rs 975 crore, BSNL sitting on land worth whopping Rs 65,000 crore
Snapdeal to send Flipkart’s proposal to shareholders this week

STOCK IN NEWS

1. U.S. FDA clears Lupin’s Pithampur unit without any observations
2. IL&FS Transport bags contract for Zojila tunnel project in J&K
3. Indian Hume Pipe wins contract in Chhattisgarh
4. HDFC: To sell up to 19.12 crore shares or 9.57 percent stake in HDFC Standard Life through its IPO
5. NTPC: Shareholders approve raising funds via bonds and NCDs worth up to Rs 15,000 crore
6. Marico: Acquired South Africa-based leading hair styling brand ISOPLUS for 75 million rand
7. ONGC: Wins government nod to buy stake in GSPC worth Rs 7,738 crore (PTI)
8. HEG: Awarded patent for invention of a process for making high performance graphite nipple
9. Technocraft: Shuts its unit in Thane to upgrade effluent treatment plant
10. ITC: To enter into multi-speciality hospital business
11. Reliance Capital: Elevates Sunil Singhania as global head of equities at the company. Manish Gunwani to join Reliance Mutual Fund as chief investment officer
12. Inox Wind: NCLT closes insolvency proceedings against the company
13. Hexaware: NCLT approves scheme of amalgamation with Risk Technology International Ltd.
14. Reliance Industries: Clarifies that there is no demand from MMRDA for payment of any fine or an additional surcharge
15. ICICI Prudential: IRDAI orders on taking over policyholders' liabilities and corresponding assets of Sahara Life Insurance Co. Ltd.
16. Fortis Healthcare: Promoter transferred its complete shareholding in Hiranandani Healthcare Pvt. Ltd. to the company
17. Jyoti Structures: Circuit filter revised to 5 percent
18. Shree Renuka Sugars: Board Approves Terms Of Proposed Debt Recast Package To Be Submitted To JLF
19. IDFC infra fund to acquire first solar’s India portfolio
20. Syndicate bank, Union bank, PNB - Banks withdraw opposition to NSEL’s meger with parent
21. Reliance Communications Aircel deal on a sticky wicket
22. JBF Industries downgraded to D category by rating agencies

Friday, 28 July 2017

28 July 2017 - Views & News

TOP NEWS

ITC Q1FY2018 results came in-line with expectation; the core cigarette business and non-cigarette FMCG business performance was better than expectation (details in investment call) – positive read through for the stock

Director General of Hydrocarbon (DGH) have asked consortium partners in Panna Mukti Tapti (PMT) field (ONGC -40%, Reliance Industries -30% and BG Exploration and Production India – 30%) to pay $3.9billion for differential government of India (GoI) share of profit petroleum and royalty based on the decision by international tribunal related to arbitration case on PMT field between Reliance Industries, BG Exploration and Production India and GoI. We highlight here that ONGC has not made any provision for its share of $1.57billion in its Q1FY2018 results as the final decision on the matter is still pending by the international tribunal – negative for ONGC and Reliance Industries.   


Exide Industries launches a mass brand – Dynex to gain share from unorganized players post GST rollout; eyes foray into lithium ion batteries: Positive ….(details in other news)

OTHER NEWS

Nava Bharat Ventures 300 MW Power Plant of Maamba Collieries has achieved provisional acceptance under the EPC contract; sentimentally positive

Branded Apparel (Inner wear segment): Advent International buys significant stake in Dixcy Textiles – increased in competition for Rupa and Co. (brands like Macroman, Frontline and Euro brands); Lux Industries (brands like Lux Cozi) and Dollar Industries (brands like Bigboss and Club). However, Page Industries (Markets Jockey brand) and ABFRL (Van Heusen innerwear) would not be that impacted as they mainly target the premium segment and have better distribution reach
Global private equity fund Advent International has acquired a significant stake in leading innerwear company Dixcy Textiles (having brands like Dixcy Scott, Dixcy Scott Uno, Dixcy Josh and Dixcy Slimz) for an undisclosed sum. Although the financial terms of the transaction were not disclosed, reports say that Advent could be investing up to Rs 700-800 crore ($125 million) to professionalize the business and drive growth. Once fully invested, the fund will end up with a controlling stake in the company. Dixcy has a network of more than 1,000 distributors, and supplies its products to over 1,20,000 retail outlets across the country. The innerwear market in India is expected to grow at double-digit rates over the next five years, driven by an increased per capita spending and consumer demand for higher-quality products.

Axis bank: Shikha Sharma has been reappointed as MD & CEO of Axis bank for 3 years – Neutral read thru

Exide Industries launches a mass brand – Dynex to gain share from unorganized players post GST rollout; eyes foray into lithium ion batteries: Positive
Exide Industries has launched a mass battery brand ‘Dynex’, priced approximately 15% lower than the mother brand. Dynex is targeted at small businesses and other segments in the replacement market that prefer low-cost offerings over branded products and would be a key driver of Exide targeting market share gains from unorganised players post GST rollout (unorganised player account for 35% of replacement market). Also, the company is eyeing foray in the lithium ion batteries and signed a technology co-operation agreement for the design and manufacture of lithium ion family of products with Chawei Group, China. Also Exide has lined up a capex of Rs 1,100-crore for FY2018 including that of the Haldia unit, and another Rs 100 crore towards setting up of a smelter unit.

Mindtree announces elevation to Business Partner Status
Mindtree announced its advancement to Business Partner within the Adobe Solution Partner Program. This reflects Mindtree's specialization in Adobe Experience Manager, part of Adobe Experience Cloud, and its sustained focus to provide clients with comprehensive offerings, leveraging Adobe Experience Cloud for customer experience transformation.

Dish TV: National Company Law Tribunal approves Dish TV-Videocon D2h merger
The National Company Law Tribunal approved merger of satellite TV service providers Dish TV and Videocon D2h, paving the way for creation of country's largest direct-to-home service provider. The merged entity would have a subscriber base of over 27.2 million, creating the largest DTH service provider in the industry.

Tata Motors – (Land Rover) has launched the Range Rover SVAutobiography Dynamic priced at Rs 2.79 crore, ex-showroom, India. The vehicle is manufactured by JLR’s Special Vehicle Operations (SVO) team. The Range Rover SVAutobiography Dynamic is powered by an all-aluminium 2.01 litre V8 supercharged petrol engine, which produces 543 hp of maximum power. The new launch would expand Range Rover kitty in India. Positive read thru

Wednesday, 26 July 2017

26 July 2017 - Views & News

MARKET UPDATE

Markets are likely to open on flattish note. Yesterday Nifty opened above 10000 but witnessed some selling pressure at higher levels, it is at the upper end of the rising channel and the bulls are finding it difficult to push the index beyond it. The possibility of minor consolidation / sideways movement cannot be ruled out in the near term. On the way down, 9928 – 9838 will act as a support in the near term. On the way up, the benchmark index can rise higher towards our short term target of 10100.

Nifty Spot Levels

Support 9928 – 9838 – 9792
Resistance  10011 – 10100 - 10180

GLOBAL MARKET

US markets hit a fresh record high in overnight trade on Tuesday. The S&P 500 climbed to an all-time high led by gains in McDonald's and Caterpillar post quarterly results and gains for bank shares.
The Dow Jones Industrial Average rose 100.26 points, or 0.47 percent, to 21,613.43.
US consumer confidence jumped to a near 16-year high in July amid optimism over the labor market while house prices maintained their upward trend in May, which could boost consumer spending after recent sluggishness, said a Reuters report.
The Fed concludes a two-day meeting later on Wednesday, and is widely expected to keep interest rates unchanged.

Today's Key Result 26 July

HDFC,Yes Bank,Adlabs,Bharat Financial,Federal Bank,HCL Infosystems,IFB Agro,Inox Leisure,L&T Finance,Mphasis,Nestle India,Orient Cement,PNB Gilts,PVR,,Radico Khaitan,Shanti Gears,Siyarams

TOP NEWS

Alert: Maruti Suzuki: Industry experts believe the growth in the Indian automobile industry (passenger vehicle segment) to double to 15% from the currently ~8% once the uncertainties stemming from the nationwide implementation of the Goods and Services Tax (GST) settle. The growth projection of 15% is higher than our expectation of 8-10%. Positive for Passenger vehicle industry and Maruti Suzuki

Alert: Gabriel India has informed that CRISIL has revised its outlook on long term bank facility and fixed deposits of the company to “Positive” from “Stable” earlier. Positive for Gabriel

Alert: Construction companies: Most construction companies corrected in the past few weeks due to delay in tendering by NHAI. The change in chairman of NHAI and GST related uncertainties led to delay in the tendering process that was expected in last June and July. Industry sources expect the tendering of projects worth close to Rs5,000 crore in later part of next month. The new tenders plus decent quarterly performance should reignite the interest in construction stocks. Another concern has been the expected supply of state government bonds to fund the farm waiver which could put pressure on interest rates. However, given the benign inflation and weak industrial activity the RBI could reduce interest rate and turn more dovish in the policy review meet next month and assuage concerns on interest rates. View: We continue to remain positive on the road/rail construction space due to increased government spending, easing interest rates, alternate funding options like Infra Investment Funds (InvIT) and lower competitive intensity in the bidding for new orders. We prefer leading quality players like Sadbhav Engineering, KNR Construction and Ashok Buildcon. Our recommendation on MEP Infra (recommended at Rs73 on May 22, 2017 and now trades at Rs127; up by 74% within two months) has performed exceedingly well and we do not recommend fresh investment in the stock now.

Indraprastha Gas Limited (IGL) has increased CNG price by Rs1.11/kg to Rs38.76/kg and PNG price by Rs0.33/scm (standard cubic meter) to Rs25.19/scm in Delhi with effect from 26-July-2017 to offset the overall impact on its cost after transition to GST  – positive for IGL as the price increase would help it to sustain margins.

Reliance Industries (RIL): Reliance Jio (RJIO), subsidiary of RIL, has added 1.4 crore subscribers in Q1FY2018. This translates into strong growth of 13% in subscriber addition on sequential basis for RJIO – positive read through for RIL. 

Cipla launches Rectal Artesunate Suppositories for Severe Malaria in young children – Positive for Cipla

Alfanar Group of Saudi Arabia collaborates with Suzlon for its Renewable Energy foray into India; positive for Suzlon

 OTHER NEWS

ITC increases cigarette prices by 4-8% to pass on the impact of Cess hike – will have negative impact on the cigarette business sales volume; margins would be maintained
ITC increased cigarette prices by 4-8% a week after the GST Council imposed a cess to make up for lower tax incidence under the new regime on a class of goods tagged as sin products. A 20-cigarette pack of Classic and Gold Flake Kings will now cost Rs 300, compared with their earlier maximum retail price of Rs 278. The price of a 10-stick Navy Cut Filter pack has gone up to Rs 94 from Rs 89, while the Flake Special Filter will now cost Rs 2 extra at Rs 50 for a 10-cigarette pack.

Berger Paints – Labour union withdraws strike at Berger Paints Goa facility; the workers went on strike from 10th May 2017 affecting the operations at factory for almost 2 months – positive read through for the stock as management indicated of limited impact of strike on the production and financial performance

TD Power Systems receives order from European MNC worth Rs 750cr, for manufacturing & supply of certain components (product) of traction motors used in electric locomotives to be supplied to Indian Railways by the MNC. This order to be executed over 10 years starting from 2018. Positive

GCPL eyes 10% share of professional hair care market in next two and a half years – positive read thru
Godrej Consumer Products (GCPL) has forayed into the Rs 1,200 crore-professional hair care segment, through its acquired brand B Blunt, and aims to capture at least 10 per cent of market share in the next two and a half years. It will roll out to the top 10 cities and will extend this, next year, to the tier I and some tier II cities. By the end of the next year, GCPL will be reaching around 15,000-16,000 salons in India. The hair care segment contributes around 13-14 per cent of the company's revenues in India and with the entry in the professional space, the company expects it to be 20 per cent in the next three years.

Reliance Industries (RIL) plans to make its digital arm (Reliance Digital) a Rs40,000 crore entity by 2020 with target to increase its market share in electronics and mobile phone retailing to 12% from 4% currently as per the media reports - positive read through for RIL..

Airtel eyes 9mobile for consolidation
Bharti Airtel is looking to merge its Nigerian arm with 9mobile, which has just rebranded from Etisalat Nigeria following takeover as a result of financial problems. France’s Orange mobile and United Kingdom’s Vodafone had earlier emerged as potential bidders for the Nigerian fourth mobile network. Presently, Nigeria is Bharti’s largest African market, where it generates around 30% of its revenues.

Infosys EdgeVerve expands Blockchain integration to Sales Platform
EdgeVerve, a subsidiary of Infosys, is looking to integrate the tech into a global sales platform it operates. The company is in the process of incorporating blockchain into TradeEdge. TradeEdge network now with more than 2,000 partners, processes approximately 3 billion transactions per month.

Wipro, HPE partner to offer IT infrastructure solutions
Wipro and HPE have partnered to offer consumption-based IT infrastructure solutions or a pay-per-use business model for enterprises. Wipro will leverage HPE Flexible Capacity, which is an on-demand capacity service that delivers economics of public cloud.

Idea, Vodafone expect to complete merger deal in 2018
Idea Cellular and Vodafone expect proposed merger to get statutory approvals and anticipate completing the transaction during 2018. On July 24, India’s Antitrust Regulator clears Vodafone-Idea Merger.

Wipro and Compuware jointly launch a Mainframe Center of Excellence
Compuware Corporation announced the launch of a Mainframe Center of Excellence (CoE) in partnership with Wipro. The Mainframe CoE will be dedicated to helping large global enterprises better leverage their systems of record for competitive advantage in fast-moving digital markets.

STOCK IN NEWS

 • Tata Steel to consider take over of firms at NCLT
JSW Energy eyes solar rooftop, energy storage
PE firms eye GTL Infrastructure stake
Bhushan Steel's market share, big customers attractive bet for JSW Steel
Vedanta plans $2.4-billion capex over two years
Vodafone, Idea CEOs expect merger to be completed in 2018
TDSAT hearing on Reliance Jio free-offer case on August 18
Cipla's newly launched drug to cure severe malaria in young children
Wipro, Hewlett Packard announce partnership to offer IT infra solutions
Piramal Finance sanctions Rs 400-cr in emerging, mid-market biz

Tuesday, 25 July 2017

25 July 2017 - Views & News

NIFTY50 claims a new milestone.
10,000 and counting...

Post positive Opening, Index would get support around 9925-9930 & Till 9925 holds, Index would continue yesterday’s upmove upto 9995-10025 zone. 

Above 10025, Index will continue its upside upto 10060-10080. 
Incase 9925 is breached, profit booking upto 9870-9840 will be on the cards.  

MARKET UPDATE

Sgx Nifty  +6 pts Dow -66.90 pts ,Nsdq +23.05 pts , S&P -2.63 pts‎, Bovespa +415 pts , Ftse -75 pts , Dax -31 pts , Cac +10 pts , Nikkei  +19 pts now , Crude @ $46.39 brl (+0.05), Brent @ $48.63 brl (-0.06) , Gold @ 1253.74 (-0.56), Silver @ $16.442 (-0.00), Euro @ $1.1638, JPY @ $111.2200, INR @ $64.375

Today's Corporate Action 25h July  Ex Date

ACC Interim Dividend - Rs. - 11.0000
ADORFO Dividend - Rs. - 3.0000
AMFORG Buy Back of Shares 
BOMBCYC Dividend - Rs. - 4.0000
EIMCOELECO Dividend - Rs. - 5.0000
HAWKINCOOK Dividend - Rs. - 70.0000
HITECHCORP Dividend - Rs. - 0.9000
IGARASHI Dividend - Rs. - 6.6100
LAKSELEC Dividend - Rs. - 8.0000
MAFATIND Dividend - Rs. - 2.0000
MAGMA Dividend - Rs. - 0.8000
NATPEROX Dividend - Rs. - 34.0000
NAVNETEDUL Dividend - Rs. - 2.5000
PNBHOUSING Dividend - Rs. - 6.0000
PONNIERODE Dividend - Rs. - 2.5000
SUNTECK Stock  Split From Rs.2/- to Rs.1/-
TCIEXP Final Dividend - Rs. - 0.8000

Today's Key Result 25th July

Axis Bank ( 1259 Cr -19% Yoy Res-After Mkt) Asian Paint ( Cons 552 Cr Flat Res-After Mkt) Bharti Airtel ( Cons 410 Cr -72% Yoy Res-After Mkt) Hero Motor ( 913 Cr +3% Yoy Res-After Mkt)
Vedanta ( Cons 1600 Cr +160 % Yoy Res During Mkt) Gsk Pharma ( 86 Cr +20 % Yoy) L&T Tech (96 cr ) Pidilite (270 Cr -1% Yoy) Hind Motors,ICICI Pru,India Bulls Ventures, International Papers,Kpr Mills, Geojit Fin,Lakshmi Vilas Bank,Mahindra Life,Oriental Hotel,Raymond,Tata Metalik,Websol Energy


TOP NEWS

Ashok Leyland has received orders worth Rs 650 crore to supply 3019 busses to KSRTC, North West Karnataka Road Transport Corporation (NWKRTC), Bangalore Metropolitan Transport Corporation (BMTC) and North East Karnataka Road Transport Corporation (NEKRTC).  The order would be executed in FY2018. Positive

Idea: CCI gives unconditional approval to  Vodafone-Idea Merger, stock to be in focus

OPEC has asked Nigeria to implement OPEC production oil cuts as soon as Nigeria’s oil production recovers to pre-crisis level of 1.8mbpd (million barrels per day) as compared to no cap on oil production for Nigeria currently. Nigeria is currently producing 1.5mbpd of oil and capping/cut in oil production from Nigeria would help OPEC to balance oil supply in future – sentimentally positive for ONGC and Oil India.

Tyres: Government is planning to impose anti dumping duty on Chinese truck and bus tyres imports with a view to guard domestic rubber and tyre players; positive for domestic tyre players (MRF, Apollo Tyres, JK Tyres and Ceat)

UPL is exploring a bid of around $4 bn to acquire the agrochemicals business of Platform Specialty Products Corp (US based specialty Chemical and agro- chemical company) to expand its global footprint. UPL has cash position of Rs 2895 Cr, which could be utilized for the acquisition. Further it is in talks with New Mountain Capital LLC as well to team up for the offer. We await confirmation and other details from UPL on the possible deal. Positive, if the deal goes thru, as the acquisition could further strengthen the company’s presence in the global agrochemical markets.

Ratnamani Metals bagged two new orders of worth Rs339 crore – positive for the stock
Ratnamani Metals has secured two new orders for supply of HSAW Pipes aggregating to Rs.339.0 crores, for approx. Rs.214.0 crores and Rs.125.0 crores which will be completed by March 2018 and April 2018 respectively.

OTHER NEWS

Government has constituted a three member ministerial panel headed by finance minister to expedite the process of government's 51.11% stake sale in Hindustan Petroleum Corp (HPCL) to Oil and Natural Gas Corp (ONGC).

Banking Sector: Moody’s has affirmed ratings of nine banks, including Bank of India (BoI), Punjab National Bank (PNB) and Axis Bank, at Baa3/Prime-3, and downgraded the ratings of Indian Overseas Bank (IOB) and Central Bank of India (CBI) to Ba3 from Ba1- Negative read through for IOB, CBI 

JSW Energy & JP Associates in focus- JSW Energy has put its power equipment manufacturing JV with Toshiba on the backburner and is on the verge of calling off its Rs 2,700 crore deal to acquire Bina Power from Jaiprakash Power Ventures, as JSW Energy changes its strategy to face the challenges in the sector. While it is confident of completing acquisition of a 1,000 mw power plant in Chhattisgarh from Jindal Steel & Power by June 2018. We believe the cancelation of deal with JP Power would be negative given the debt reduction programme may be interrupted.   

M&M to launch 3 utility vehicles (new products/upgrades) in a bid to regain market share; Positive read thru
M&M has planned to launch three vehicles (including new products and upgrades) in a bid to regain its lost market share in the utility vehicle segment. As per the media reports, a MPV – codenamed U321 would be launched in 2017 and would be positioned below the XUV 5OO and compete with Tata Hexa and Toyota Innova. Secondly, a SUV based on Tivoli platform to take on the llikes of Toyota Fortuner and Ford Endeavour is also in the pipeline. Thirdly, M&M will launch a coupe version of the existing XUV 5OO.

Tata Elxsi may be merged with TCS soon
As per media report, Tata Elxsi is likely to be merged with Tata Consultancy Services very soon. The company has divisions like Embedded Product Design, Industrial Design, System Integration and Professional Services and Visual Computing Labs.

Infosys, Embassy to team up with govt for Metro Phase 2
Infosys and Embassy have reportedly come forward to partner with the government for the Metro rail second phase. The second phase of the Bengaluru Metro is currently in feasibility check phase and is expected to be complete sometime in the next 3 years.

MORE NEWS

·ITC increases prices of cigarette by 4-8% as a result of higher tax

·Amtek Auto says insolvency proceedings accepted by NCLT

·Reckitt Benckiser CEO Rakesh Kapoor says GST spurring volatility

·IL&FS' PE arm to raise $1 bn infrastructure fund from pension funds in Japan, South Korea

·Why rejig of financial year could upset your tax planning

·Subrata Roy seeks time from Irda to turnaround Sahara Life Insurance

·PwC cooked books, evaded tax and broke laws: Ex-CFO

·Banks may cut UPI charges for merchants

·Govt mulls LPG-like subsidy transfer for PDS foodgrain

·Banks lost Rs 88,553/hour to cybercrime in last 3 yrs

·Farm loans form 60 per cent of new NPAs: HDFC Bank

·Goldman to ramp up campus hiring of engineers by 30 per cent

·CCI gives unconditional nod to Vodafone-Idea merger

·Fashion and lifestyle brands want their share of GST gains from dept chains

·Bharti Airtel chairman Sunil Mittal urges Trai to veto 'bill & keep,' maintain IUC

·Nitin Gadkari says driverless cars won't be allowed in India, plans app to rival Ola, Uber

·Mahindra & Mahindra evinces interest in Punjab, may invest in electric vehicles

·Insolvency not the best solution to alleviate NPA pain: HDFC Bank's Aditya Puri

·mjunction to build platform for oil sector bidding

·JSW Energy may call off buying Bina Power, puts Toshiba, JV in cold storage

·GCPL eyes 10% share of professional hair care market in next two and a half years

·FSSAI mulling pictorial warning on liquor bottles

·Distribution companies want to rework pacts as solar tariffs hit new low

·UPL explores bid for Platform Specialty agrochem unit: Sources

·Roche, Emcure may end pact to make 2 blockbuster drugs

·Lupin receives US FDA approval for anti-inflammatory topical solution

·Strides Shasun gets USFDA nod for anti-allergy capsules

·Zee Entertainment completes acquisition of India Webportal

·Competition Commission of India clears Vodafone-Idea merger

·Air India seats available for 144 flyers, but airline books 194

·Govt panel for sops to ease financial stress in telecom sector

·GST: Reduced rates yet to bring cheer to retail car sales

·TCS' iON takes digital learning marketplace abroad

·HPCL to retain its brand identity post ONGC deal, says Pradhan

·Small shareholders demand seat at Alembic board

·ONGC, OIL push crude oil output up by 0.24%, natural gas by 4%

·Moody's downgrades IOB, Central Bank

·EIL's Rs 658.80-crore share buyback to open on July 25       

·Ashok Leyland wins Rs. 650-cr order from Karnataka RTC

·With Ducati, Bajaj Auto will reaffirm global goal in bikes

·Post-GST, hosiery majors gear up with higher ad spends

·After KKR deal, Radiant eyes hospital buys worth ₹1,500 cr

·'Ceramic tiles industry to witness nearly 9% demand growth this year'

·Lupin gets USFDA nod to market solution for skin conditions

·SIS India sets IPO band at Rs. 805-815 

·JioPhone may force Airtel, Vodafone, Idea to focus on bundled plans

·IMF keeps India GDP growth forecast unchanged at 7.2% for 2017-18

·Resolving Air India debt priority of aviation ministry

·Wipro Ventures invests in venture capital fund Work-Bench

·Do D-Mart results justify its stratospheric valuations?

·ABB India: Many a slip between the cup and the lip

·World oil demand could peak in 2024 on higher vehicle efficiency: Goldman Sachs report

Monday, 24 July 2017

24 July 2017 - Views & News

MARKET UPDATE

Sgx Nifty  -3 pts
Dow -31.31 pts ,Nsdq -2.25 pts , S&P -0.91 pts‎, Bovespa -253 pts , Ftse -34 pts , Dax -207 pts , Cac -81 pts , Nikkei  -162 pts now , Crude @ $45.72 brl (-0.05), Brent @ $47.88 brl (-1.42) , Gold @ 1256.41 (+1.51), Silver @ $16.501 (+0.04), Euro @ $1.1681, JPY @ $110.9400, INR @ $64.471

Today's Corporate Action 24h July  Ex Date


CARERATING Dividend - Rs. - 10.0000
CENTENKA Dividend - Rs. - 7.0000
EIHOTEL Dividend - Rs. - 0.9000
ITHL Dividend - Rs. - 4.2500
KSL Dividend - Rs. - 5.0000
LUPIN$ Dividend - Rs. - 7.5000
NICCOPAR Final Dividend - Rs. - 0.1500
PAUSHAKLTD Dividend - Rs. - 3.0000
SANGHVIMOV Dividend - Rs. - 4.0000
TAJGVK Dividend - Rs. - 0.4000
TCS Interim Dividend - Rs. - 7.0000
THOMASCOOK Dividend - Rs. - 0.3750
TITAN Dividend - Rs. - 2.6000
VSTIND Final Dividend - Rs. - 75.0000

Today's Key Result 24th July

Ambuja Cem (368 Cr -8% Yoy Res-After Mkt) Bharti Infratel ( Cons 674 Cr -11% Yoy Res-After Mkt) Hdfc Bank (3909 Cr +21% Yoy Res During Mkt) Zee Ent ( Cons 326 Cr +50 % Yoy Res During Mkt) Ibull Fin ( Cons 782 Cr +24% Yoy ) Irb Infra  (197 Cr +18% Yoy) M&M Fin ( 120 Cr +38% Yoy ) Delta Corp,Excel Crop,Gic House,Gulf Oil,Hudco,IG Petro,IB Real Est,Info Edge, Jm Fin,Just Dial,L&T Info,Patel Eng,Swaraj Eng,Tata Com,Texmaco Infra,Zee Learn 

TOP NEWS

Hindustan Petroleum Corp (HPCL) is likely to acquire Oil and Natural Corp's (ONGC) stake in Mangalore Refinery and Petrochemicals (MRPL) and ONGC Petroleum Additions (OPaL) before closure of ONGC-HPCL deal as per the media reports - positive read through for MRPL and HPCL.

Lupin’s Goa facility received zero observation from the USFDA, an inspection which was related to a specific products (hence form 483 received earlier continues to stay) – Neutral read thru.

Bajaj Auto to revamp its product portfolio; targets 26% market share by end of FY2018; Positive read thru……(details in other news)


OTHER NEWS

Bajaj Auto to revamp its product portfolio; targets 26% market share by end of FY2018; Positive read thru.
Bajaj Auto has planned to revamp 7 models in its portfolio in H2 FY2018 in bid to increase its markets share. The company has targeted to enhance its market share from 15% as of Q1FY18 to 26% by the end of FY2018. Bajaj Auto would launch new products under CT, Platina, Discover, V , Avenger, Pulsar, Dominar brands, by December 2017 which are likely to boost the sales volumes.

PSU Banks: As per media reports, the government is likely to infuse capital to only those public sector banks (PSBs) in FY18 which were capitalised in FY17. Last fiscal, the following banks SBI (Rs 7,575 crore), IoB (Rs 3,101 crore), PNB (Rs 2,816 crore), Bank of India (Rs 1,784 crore), Central Bank of India (Rs 1,729 crore), Syndicate Bank (Rs 1,034 crore), UCO Bank (Rs 1,033 crore), Canara Bank (Rs 997 crore), United Bank of India (Rs 810 crore), Union Bank of India (Rs 721 crore), Corporation Bank (Rs 677 crore), Dena Bank (Rs 594 crore) and Allahabad Bank (Rs 44 crore) received money from the Govt – Positive read thru for the abovementioned PSU banks

Ashok Leyland has managed to improve its market share in MHCV space to 32% from 25% over the last few years, despite difficult market conditions and increased competition. Ashok Leyland is well-prepared to face international competition as it has heavily invested in technology, quality and processes. Also, the innovative iEGR technology for BS-IV engines had been well accepted by customers and the company would focus on ramping up sales. Positive read thru

Coromandel international has received environmental clearance for its expansion project for raising production capacity of Phosphoric acid ( to be used to make phosphatic  fertilizers) from 700 tons per day to 1000 tons per day. The estimated project cost stands at Rs 225 crs and out of this the company plans to utilize Rs 26.42 Cr towards environment management projects. Positive read thru for the company. 

Fund RAISING: Bank of Baroda (Rs 3000 crores), Punjab National Bank (Rs 3000 crores) and Syndicate Bank (Rs 1000 crores) are raising capital through Tier-I bonds, which will bolster their Capital Adequacy Ratio (CAR) – Positive read thru

Reliance Industries (RIL) is likely to shut one of its two purified terephthalic acid (PTA) line in Dahej for a period of 15 days as per the media reports. The two PTA lines have a production capacity of 1.1mtpa – neutral for RIL.      

Reliance Industries (RIL) has paid price of $4.23/mmbtu in 1QFY2018 for purchase of coal bed methane (CBM) gas from its own CBM blocks at Sohagpur in Madhya Pradesh and is likely to pay price of $4.5/mmbtu in 2QFY2018 - Neutral for RIL as the production from its CBM blocks is very small currently. 

Friday, 21 July 2017

21 July 2017 - Views & News

MARKET UPDATE

Sgx Nifty  +5 pts Dow -28.97 pts ,Nsdq +4.96 pts , S&P -0.38 pts‎, Bovespa -241 pts , Ftse +56 pts , Dax -4 pts , Cac -16 pts , Nikkei  -28 pts now , Crude @ $46.98 brl (+0.07), Brent @ $49.30 brl (-0.02) , Gold @ 1243.31 (-2.19), Silver @ $16.286 (-0.05), Euro @ $1.1628, JPY @ $111.8600, INR @ $64.376

Today's Corporate Action 21st July  Ex Date

ATLANTA Dividend - Rs. - 0.3000
BIRLACORPN Dividend - Rs. - 6.5000
DCMSHRIRAM Dividend - Rs. - 0.8000
GATI Dividend - Rs. - 0.8000
GEPIL Dividend - Rs. - 3.0000
INDPRUD Dividend - Rs. - 25.0000
JENBURPH Dividend - Rs. - 8.1000
KIRLFER Dividend - Rs. - 1.7500
MONSANTO Final Dividend - Rs. - 15.0000
PEL Dividend - Rs. - 21.0000
POLYCHEM Dividend - Rs. - 2.5000
SHREECEM Final Dividend - Rs. - 24.0000
SMLT Dividend - Rs. - 0.5000
VGUARD Dividend - Rs. - 0.7000

Today's Key Result 21st July

Ashok Ley ( Net 132 Cr -55% Yoy) Indian Bank ( Net 337 Cr +10 % Yoy) Atul Ltd,Canfin Home,Dewan Housing , Hind Dorr,Mrpl,Tinplate,Uttam Steel Source-Cogencis


TOP NEWS

Hindustan Unilever: Parent Unilever stated that volume growth in India is a challenge in the wake of implementation of GST in the country – Sentimentally negative; indicates mgmt expectation of a delayed pick-up in consumer demand

Britannia files legal notices to Kerala distributors for seeking higher trade margins; Kerala is amongst top ten markets for Britannia – marginally negative for Britannia as it might take some time to resolve the issue in the state and like Kerala other states distributors might ask for higher trade margins…(details in other news)

Balalji Telefilms: RIL buys 24.9% stake, stock to be in focus (stock has already witnessed 85% run up in last 3 months)
Reliance Industries announced an investment of Rs 413 crore to purchase 24.9% stake in Balaji Telefilms. The investment will take place through a preferential issue of 2.52 crore shares at Rs 164 apiece. The proceeds from the transaction would be used to further speed up content development initiatives, especially for ALT (its digital content platform), thereby providing it with a strong ability to compete with other OTT service providers- both global and Indian.

As per LNG World News, India’s LNG imports have declined by 10% YoY in June 2017. This is a fall in India’s LNG imports for two consecutive months (May-2017 LNG imports was also down by 9.6% YoY). Although the decline LNG imports is sentimentally negative for PLNG but on fundamental basis we view it as neutral for PLNG given its share of contracted volume (long-term + tolling) has increased to 100% and thus removes volatility in volumes. 


OTHER NEWS

Trident Group textile brand turnover to exceed Rs 300 crore by 2020 as more Indians splurge on bed and bath linen, targeting 50% growth on year on year basis to reach there. Trident aspires to be amongst top three home textile brands in the country and offer affordable luxury and intends to make good inroads in next 3 years in domestic market and capture at least 15% share by 2020 – positive read thru

Bajaj Auto-KTM in race to acquire “Ducati”; Bajaj to gain access to premium super sports motorcycle portfolio; positive if the deal goes thru
Bajaj Auto- KTM are in race to acquire “Ducati” brand, which is on the selling block and the announcement is likely to be made in the next two weeks. Ducati is a premium sport motorcycle brand owned by Volkswagen with the product range spanning 800 cc-1300 cc sports motorcycles. Ducati sold 55,451 units in 2016 registering a turnover of Euro 731 million. As per sources, given the bidding, Ducati could be sold close to USD 1.4 billion (about 9,000 cr). Bajaj Auto currently has cash of about Rs 13,000 cr. If the acquisition goes thru, Bajaj Auto will gain access to premium sports motorcycle brand and would be a positive..  

Britannia files legal notices to Kerala distributors for seeking higher trade margins; Kerala is amongst top ten markets for Britannia – marginally negative for Britannia as it might take some time to resolve the issue in the state and like Kerala other states distributors might ask for higher trade margins
Britannia Industries has gone to court against its distributors in Kerala, accusing them of resorting to unfair trade practices to extract higher margins in the first such instance post the GST rollout. Kerala is among the top 10 markets for Britannia, especially in categories such as cookies and creams. The All Kerala Distributors Association (Akda) claimed an increase in their cost of business after the implementation of GST for demanding  a higher margin. Business has been disrupted by close to 70% distributors in the state. These distributors under their association unilaterally decided on up-charging — increasing their selling price to retailers — as a condition to resume billing. They are demanding a more than 1% increase in margins. The company felt that this would affect retailer margins, which would ultimately be detrimental to consumers. The distributors had stopped buying stocks from Britannia during June 20-30, ahead of the GST rollout on July 1. The biscuits maker, on its part, has now stopped supplies to these 70% of distributors who were seeking higher margins

Dabur India gears up for next growth wave with Buniyad project – positive read through
Dabur India has revamped its sales structure by splitting its front-end teams across portfolios and geographies for improving sales and growing its smaller brands. The company said despite tough times due to various factors, including demonetisation, its key brands such as Dabur Red Paste and Dabur Anmol Coconut Oil, besides the food business, performed well in 2016-17. Under this initiative, the front-end sales team across urban and rural markets was split into three categories — Home & Personal Care, Healthcare & Foods. With separate teams now handling individual portfolios, the focus is on improving sales while helping grow smaller brands across product categories

Tata Motors (JLR) commences engine plant in China to manufacture 2 litre four cylinder Ingenium engines. This will enhance localization and reduce costs; positive read thru

Eicher Motors (Royal Enfield) to enhance production capacity by 25% to 8.25 lakh units in FY2018; to enhance distribution network; positive read thru
Motorcycle maker Royal Enfield Motors, which is part of Eicher Motors, will increase its production capacity by 25% to 8.25 lakh units in FY2018. The additional capacity will be the result of a new plant near Chennai which will start commercial production in August 2017. For 2017-18, Royal Enfield intends to make investment of Rs 800 crore and plans to expand sales and service reach to over 800 dealers as against current network of 675.

Alstom & Siemens to be in focus- Three consortia led by Alstom, Siemens and Stadler Bussnang AG are in the race to set up an electric rail coach factory in West Bengal. The proposed rail coach factory that would produce coaches with aircraft-type interiors is expected to come up on railway land in Kanchrapara near Kolkata on a public-private partnership basis and will involve a total investment of Rs 2,000 crore. The government will own 26% in the joint venture. The final bidding will take place in December, 2017.

Tata Motors starts Nexon (compact UV) production, India launch ahead of the festive season; positive
Tata Motors will be introducing its first compact crossover, the Nexon before this year's festive season. The first batch of the production model has just been rolled out from the company's facility and will be available with a petrol as well as a diesel engine, both with class-leading power figures. The petrol engine is a 1.2-litre turbocharged Revotron unit that generates 108 hp of power at 3,750 rpm and 260 Nm of torque between 2,000 rpm to 4,000 rpm. The 1.5-litre turbocharged Revotorq diesel mill is an all-new engine developed in-house. Tata Nexon is expected to start from Rs 6.5 lakh and go up to Rs 8.5 lakh, ex-showroom and will go up against the likes of the Maruti Vitara Brezza, Honda WR-V and the Ford EcoSport.

Zee Media Corporation in advanced talks to buy BTVi – stock to remain in focus
As per media news, Zee Media is in advanced discussions to acquire Business Broadcast News, BTVi.  Zee Media could pay between Rs 80 crore and Rs 100 crore for the company. BTVi will add an English business channel to its portfolio and complement Zee Business (a Hindi channel).

MORE NEWS

'Power plants without registration no. can't sell to grid'
RIL picks up 25% in Balaji Telefilms for Rs 413 cr
Reliance Jio launches Rs 20,000 crore rights issue
lose to finalising a promising alliance: Bajaj Auto
NSE files application with Sebi on co-location issue
Cement demand growth likely to recover by 5%
PwC to acquire M&A tax team of BMR Advisors
RIL Q1 profit up 8.6% at Rs 8,196 cr; GRM at $11.9 per bbl
Volumes challenging in India due to GST, says Unilever
Videocon Telecom forays into eKYC business, eyes Rs 100 crore in 2 years
Sebi might cut listing time to 3 days from IPO, against 6 days at present
European Central Bank keeps easy money stance despite better growth
ONGC board yet to decide how to fund HPCL stake buy
ADB sees improved growth prospects for Developing Asia
Justdial board to take up share buyback next week
Royal Enfield to boost motorcycle capacity to 8.25 lakh units
Eros Worldwide sells 3.61% stake in Eros International
Rakesh Jhunjhunwala buys 1.3% stake in Jubilant Life Sci. 
Sugar rules flat on routine demand and supply
LIC may hike stock market investments to Rs4 tr in 2017-18
ABG Shipyard agrees to insolvency proceedings
JSW Group keen on acquiring troubled steel firms: P Jindal
Tata sounds out government on Air India disinvestment
Arun Jaitley to launch pension scheme with 8% fixed rate
RBL Bank Q1 net rises 45% to Rs141cr on interest income
IMF urges Mozambique to address debt audit concerns
Coal bearing states get Rs 3,653 crores from mines allocation
Rajya Sabha MPs concerned over anti-GST protests by textile industry
Trai in undue haste to decide on IUC: COAI
Airtel, Vodafone say rural telecom to suffer at nil IUC, Jio differs
Bajaj-KTM finalising deal to buy out Ducati
Govt to launch pension plan with 8% fixed rate
Wipro announces Rs 11,000-crore share buyback
Metals shine on rising Chinese demand