Tag: stocks

Castrol India drops over 2 pct as promoter BP sells stake

Castrol India drops over 2 pct as promoter BP sells stake

19/05/2016 11:42

Shares of Castrol India fell over 2 per cent on Bombay Stock Exchange (BSE) after British Petroleum, the promoter of the company, sold 7 per cent stake in the company. The stake sale is worth Rs 2,000 crore or USD 287 million at Rs 355-Rs 385.5 a share.

The share sale took place on the bourses in six block deals with 7 per cent equity stake being sold for USD 191 million with BP holding the right to sell additional 3.5 per cent equity share for USD 96 million. Reacting to the news, shares of the company dropped 2.56 per cent to Rs 375.40 a piece on BSE. Shares of the company dipped 2.21 per cent to Rs 376.75 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 25,622.61, down 82 points, or 0.32 per cent at 11.30 hours.

Symphony standalone net profit rises 27 pct in Q3

Symphony standalone net profit rises 27 pct in Q3

17/05/2016 16:29

Symphony Ltd announced that it has posted an over 27 per cent growth in standalone net profit at Rs 46.52 crore in the third quarter ended March 2016 as against Rs 36.51 crore in the third quarter ended March 2015.

The company follows the July to June financial year.

The total standalone income from operations of the Ahmedabad-based air coolers manufacturer rose by 10.48 per cent to Rs 137 crore during the period under review as against Rs 124 crore in the corresponding quarter a year ago.

Moreover, the company’s standalone net profit stood at Rs 123 crore for the nine-month period, up by 30.85 per cent as against Rs 94 crore in the same period a year ago while the total standalone income stood at Rs 415 crore for the nine-month period, up by 17.90 per cent as against Rs 352 crore in the same period last year.

Meanwhile, the company said it has recommended considering payment of interim dividend for financial year 2015-16 of Rs 25 per share.

BSE SME platform expects 30 IPOs in 3 months

BSE SME platform expects 30 IPOs in 3 months

09/05/2016 01:36

Leading stock exchange BSE said that it is expecting 30 initial public offerings (IPOs) on its small and medium-sized enterprises (SME) platform in next three months, as per the media reports.

This is on top of 17 SMEs that already got listed in this year.

“The IPO pipeline is good, which shows that confidence among the companies. We are expecting 30 SME IPOs in the next three months,” BSE MD and CEO Ashishkumar Chauhan said, quoted PTI.

He was speaking on the sidelines of a seminar on ‘Is the corporate sector over-regulated?’, organised by an industry body.

Listing will help these companies enter and finally to graduate on to the mainboard.

These companies belong to a wide range of sectors, like logistics services, media, automotive components, infrastructure and hospitality, among others.

BSE had launched SME platforms in March 2012 to provide opportunity to such firms to raise capital for growth and expansion. Since then a total of 136 companies got listed on its SME segment and 18 of these firms have migrated to the main board platform.

8K Miles Software posts Q4 net at Rs 12.35 cr; scrip dips

8K Miles Software posts Q4 net at Rs 12.35 cr; scrip dips

10/05/2016 12:12

Cloud solutions provider 8K Miles Software Services Ltd has reported a jump of 97 per cent in its consolidated net profit after taxes (PAT) at Rs 12.35 crore for the January-March quarter of FY 16, helped by stellar performance in revenue.

“The consolidated net profit of the company stood at Rs 6.27 crore during the same period a year ago,” 8K Miles Software Services Ltd said in a filing to the Bombay Stock Exchange on May 10, 2016.

Moreover, the consolidated total income from operations of the company surged nearly 102.8 per cent at Rs 86.36 crore during Q4 2015-16, as compared to Rs 42.59 crore during the same period last year.

Commenting on the performance, 8K Miles Software Services Ltd, CMD, Suresh Venkatchari said, “We are starting to make an impact in the highly regulated industries such as Healthcare and Life Sciences with our thought leadership, CloudEzRx platform and drive towards enterprise wide cloud transformation.”

Undermining earnings, shares of the company were trading at Rs 1,996.90 apiece, down 4.86 per cent, from previous close on BSE at 12:10 hours.

Thyrocare sees blockbuster listing; shares zoom over 49 pct

Thyrocare sees blockbuster listing; shares zoom over 49 pct

09/05/2016 12:29

Shares of diagnostics company Thyrocare Technologies made a blockbuster debut at the bourses today, skyrocketing more than 49 per cent over the issue price of Rs 446.

The stock listed at Rs 662, reflecting a huge premium of 48.43 per cent over the issue price on BSE. At the trade progressed, the stock touched a high of Rs 665.40, soaring 49.19 per cent.

At NSE, it opened the day at Rs 665, surging 49.10 per cent as compared to the issue price.

The company’s market valuation now stands at Rs 3,299.43 crore.

The Rs 479.21-crore initial public offering (IPO) of Thyrocare was oversubscribed a whopping 73.55 times in a price band of Rs 420-446.

The issue was open for bidding from April 27-29.

The firm, which runs a diagnostics laboratory chain, has come out with a public issue of up to 10,744,708 shares.

JM Financial Institutional Securities, Edelweiss Financial Services and ICICI Securities managed the issue.

Thyrocare competes with diagnostics chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.

NDTV net profit surges by 170 pct in Q4 FY15-16

NDTV net profit surges by 170 pct in Q4 FY15-16

06/05/2016 10:30

Net consolidated profit for New Delhi Television Ltd rose by 170 per cent to Rs. 7.5 crore in the fourth quarter of FY 2015-16 as compared to the loss of Rs. 10.69 crore in the fourth quarter of FY 2014-15.

The consolidated net revenue also increased by 9.96 per cent to Rs. 13.23 crores in Q4 as compared to 12.03 crores in the same quarter last year. For the year ending on 31st March 2016, the company incurred a loss. The net loss stood at Rs. 21.82 crore compared with Rs. 25.58 crore loss in the previous year.

The expenses were evenly distributed with a comparatively higher value of depreciation. Earnings Per Share of the company stated a decrease and was at Rs. -3.35 for the year ended on 31st March 2016.

Meanwhile, New Delhi Television Ltd share price was up by 4.37 per cent at Rs 101.40, from the prior close on the Bombay Stock Exchange at 10:13 hours.

Nelco Limited net profit surges by 156 pct

Nelco Limited net profit surges by 156 pct

05/05/2016 11:01

Net consolidated profit for Nelco Limited rose by 156 per cent to Rs. 1.87 crore in the fourth quarter of FY 2015-16 as compared to the loss of Rs. 2.67 crore in the fourth quarter of FY 2014-15.

However, the consolidated net revenue marginally decreased by 3.8 per cent to Rs. 35.55 crores in Q4 as compared to 36.97 crores in the same quarter last year. For the period of eighteen months ending on 31st March 2016, the company reported a decrease in profit.

The net loss stood at Rs. 6.61 crore compared with Rs. 2.18 crore profit in the previous year twelve months’ period. The net sales for the eighteen months’ period were higher at Rs. 206.81 crore as compared to Rs. 134.31 crore in the previous year twelve months’ period.

The employee benefits expenses and purchase of stock in trade contributed to the majority of the expenditure undertaken by the company. Earnings Per Share of the company stated decreased and was at Rs. -2.71 for the period of eighteen months ending 31st March, 2016.

Meanwhile, Nelco Limited share price was up by 0.15 per cent at Rs 94.70, from the previous close on the Bombay Stock Exchange at 10:52 hours.

BASF India Q4 swings to profit at Rs 76.81 cr

BASF India Q4 swings to profit at Rs 76.81 cr

04/05/2016 16:14

BASF India Ltd, chemicals and specialty chemicals manufacturer, has reported that it swung to profit at Rs 76.81 crore in the March quarter of FY 16, supported by sale of non-core assets worth Rs 33 crore.

“The standalone net loss of the company stood at Rs 59.33 crore during the same quarter a year ago,” BASF India Ltd said in a filing to the BSE.

Further, the standalone total income from operations of the company grew by 7.4 per cent at Rs 1,152.12 crore in Q4 FY 16, as compared to Rs 1,072.33 crore during the same quarter a year ago.

During the quarter under review, it’s total expenses stood at Rs 1,088.39 crore, down 3 per cent, as against Rs 1,121.66 crore during Q4 FY 15.

The Board of Directors of the company has recommended a dividend of Rs 1 per equity share of Rs 10 each (i.e. 10 per cent) for the financial year ended March 31, 2016, subject to the approval of the shareholders at the forthcoming Annual General Meeting of the company to be held on Thursday, August 11, 2016.

Buoyed by earnings, shares of the company closed at Rs 961.25 apiece, up 3.91 per cent, from previous close on BSE.

Adani Ports Q4 net surges 38.3 pct at Rs 914.06 cr

Adani Ports Q4 net surges 38.3 pct at Rs 914.06 cr

04/05/2016 12:24

Adani Ports and Special Economic Zone Ltd reported a growth of 38.3 per cent in it’s consolidated net profit after taxes (PAT) at Rs 914.06 crore for the fourth quarter ended March 31, 2016, supported by rise in revenue from operations.

“The consolidated net profit of the Adani Group arm stood at Rs 660.73 crore during the same period a year ago,” Adani Ports and Special Economic Zone Ltd said in a filing to the BSE.

Further, the consolidated total income of the company increased 18 per cent at Rs 2,161.65 crore during Q4 FY 16, as compared to Rs 1,831.85 crore in the same quarter last year.

During the quarter under review, total expenditure of the India’s largest port developer, however, rose to Rs 977.88 crore, as against Rs 832.91 crore in Q4 FY 15.

Consolidated cargo for Q4 FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India, it said in a statement.

Commenting on the performance, Adani Group, Chairman, Gautam Adani said, “Our strategy continues to bear fruit, with total operating income for the first time exceeding the US$ 1 billion mark. With an expanded footprint at 10 locations along the Indian coastline, we aim to continue to drive growth within our ports business, as well as look to the further development of industrial clusters and full-service logistics, with the ultimate goal of building a fully integrated logistics player of significant scale.”

Speaking on the results, APSEZ, CEO, Karan Adani said, “Our guidance for the next year, cargo volumes likely to see 10 per cent to 15 per cent growth and corresponding 10 per cent to 15 per cent growth in profit after tax.”

For the full year, it has posted a net profit of Rs 2,867.36 crore for the year ended March 31, 2016 as compared to Rs 2,314.33 crore for the year ended March 31, 2015. It’s total income has increased from Rs 6,837.62 crore for the year ended March 31, 2015 to Rs 7,940.55 crore for the year ended March 31, 2016.

Despite earnings, shares of the company were trading at Rs 213 apiece, down 9.71 per cent, from previous close on BSE at 12:25 hours.

Limited supplies lift Mentha oil futures by 1.75 pct

02/05/2016 14:41

Mentha oil prices rose by 1.75 per cent on Monday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for May 2016 contract, at MCX, were trading at Rs. 878.50 per kg, up by 1.75 per cent after opening at Rs. 868.90 against the previous closing price of Rs. 863.40. It touched the intra-day high of Rs. 886.70 till the trading. (At 2.40 PM today).

Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.

About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.