Abbott India Soars 4.8% Post Q2 FY17 Results

Abbott India  Q2 FY17 results

Abbott India Q2 FY17 results

Abbott India soared 4.8% on the BSE. The company reported 23% increase in standalone net profit at Rs 75 crore for the quarter ended September 30. The company’s net profit in the corresponding quarter of the previous fiscal year was Rs 61 crore.

The scrip opened at Rs 4700 and has touched a high and low of Rs 4950 and Rs 4675 respectively. So far 12800 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 9978.47 crore.

The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 6050 on 31-Dec-2015 and a 52 week low of Rs 4360 on 13-Jun-2016. Last one week high and low of the scrip stood at Rs 5035 and Rs 4471.2 respectively.

The promoters holding in the company stood at 74.99 % while Institutions and Non-Institutions held 8.66 % and 16.35 % respectively.

The stock is currently trading above its 50 DMA.

Abbott India Ltd
BSE 4,925.40 229.65 (4.89%)
NSE 4,939.55 246.70 (5.26%)

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Tata Chemicals Clocks 1.5% Gain on the Bourses

tata-chemicalsTata Chemicals Ltd is currently trading at Rs 473.1, up by Rs 8.05 or 1.73% from its previous closing of Rs 465.05 on the BSE.

The company has received an approval from the CCI for the proposed acquisition of its urea and customized fertilizers business by Norway’s Yara Fertilisers. Under the deal, Tata Chemicals will sell its urea plant in Babrala, Uttar Pradesh, which has an annual capacity of about 1.2 million tonnes for an estimated Rs 2,670 crore.

The scrip opened at Rs 470 and has touched a high and low of Rs 481 and Rs 467 respectively. So far 332448 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 11847.61 crore.

The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 585.1 on 24-Oct-2016 and a 52 week low of Rs 310.05 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs 468.05 and Rs 445.5 respectively.

The promoters holding in the company stood at 30.8 % while Institutions and Non-Institutions held 48.1 % and 21.1 % respectively.

The stock is currently trading below its 50 DMA.

Tata Chemicals Ltd
BSE 472.15 7.10 (1.53%)
NSE 471.80 5.90 (1.27%)

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Adani Enterprises Gets 100 MW Solar Generation Plant Order in Australia

adaniThe Whyalla City Council today formally reached agreement with the Adani Group for the Indian company to develop a $ 200 million solar generator north of the city.

The project will involve a 100 MW solar generation plant,with potential capacity of up to 150 MW which would make it one of the largest in Australia on one site.

Adani, the largest solar energy generator in India, is planning to have a number of solar projects in Australia with a total capacity of 1,000 MW within the next five years.

The solar projects are in addition to Adani’s $16.5 billion investment in the planned Carmichael coal mine in Queensland’s Galilee Basin as well as rail and port facilities.

Construction of the Whyalla project is due to start mid-2017 and be completed in approximately 12 months.

The workforce will peak at 350 employees, with full time operation staff to number up to five. A land purchase agreement has been signed with the council for the site which is in an industrial land estate.

The solar generated electricity will be fed into the main network which will boost reliability of supply in the region.

Adani currently has solar generation projects in India planned or operational totalling more than 1,400 MW, including one of the world’s largest solar plants at Tamil Nadu in southern India which has a capacity of almost 650 MW.

The solar projects are part of Adani’s global strategic balanced approach topower generation with coal-fired, solar and wind plants.

The company’s CEO of Australian operations, Jeyakumar Janakaraj, said solar opportunities in Australia were enormous because it had the highest solar radiation per square metre of any continent in the world.

Solar energy penetration in Australia – more than 2 million homes have solar PV and/or solar hot water systems – demonstrated acceptance of the renewable energy source.

“Coupled with the company’s $ 3.3 billion dollars of investment to date across its mine, rail and port projects in Queensland, Adani’s plans to pursue solar investment opportunities reflect the confidence the company has in the Australian market,” Janakaraj said.

Whyalla Mayor Lyn Breuer said Whyalla City Council was pleased to be working with Adani on its project, and looked forward to the economic benefits the project would bring.

“We have been working with Adani for quite some time now to reach this agreement, and we are very much looking forward to seeing the project come to fruition,” Breuer said. “Whyalla City Council strongly supports renewable projects, and we believe Adani’s solar generator project will bring major benefits to the City of Whyalla and the region as a whole.”

Member for Giles, Eddie Hughes, warmly welcomed Adani’s intent to build one of Australia’s largest solar farms in Whyalla.

“This is great news for Whyalla,” said Hughes. “For many years we have promoted Whyalla as a perfect location for solar energy production. We have sun, land, a skilled workforce and a supportive community. Those attributes have attracted the interest of Adani.”

“Construction of the plant will provide a boost to employment and it will provide one element in what is shaping up to be a much brighter future next year. I look forward to Adani becoming part of the Whyalla community and making a very positive contribution to the future of our city.”

 Adani Enterprises Ltd
BSE 63.65 1.75 (2.83%)
NSE 63.55 1.90 (3.08%)

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Zee Media Soars 3.5%

zee-mediaZee Media Corporation Ltd is currently trading at Rs 35.05, up by Rs 0.95 or 2.79% from its previous closing of Rs 34.1 on the BSE.The Board of Directors of the Company has approved in-principle, acquisition of Equity stake by the Company in the Radio Broadcasting business of Reliance Broadcast Network Limited (RBNL), to be transferred by RBNL to Vrushvik Entertainment Pvt Ltd and Azalia Media Services Pvt Ltd.

The scrip opened at Rs 35.7 and has touched a high and low of Rs 36.45 and Rs 34.8 respectively. So far 4267008 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1605.39 crore.

The BSE group ‘B’ stock of face value Rs 1 has touched a 52 week high of Rs 40.65 on 03-Nov-2016 and a 52 week low of Rs 17 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 35.35 and Rs 28.9 respectively.

The promoters holding in the company stood at 69.11 % while Institutions and Non-Institutions held 5.73 % and 25.16 % respectively.

The stock is currently trading above its 50 DMA.

Zee Media Corporation Ltd
BSE 34.95 0.85 (2.49%)
NSE 35.05 0.95 (2.79%)

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Oil India to Consider Issue of Bonus Share on November 28

oil-updates,- CapitalHeightOil India Ltd has informed BSE that the Board would inter alia consider “Issue of Bonus Shares” in the Board Meeting scheduled to be held on November 28, 2016.

The scrip opened at Rs 430.25 and has touched a high and low of Rs 430.7 and Rs 423.5 respectively. So far 337540 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 25737.64 crore.

The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 432 on 22-Nov-2016 and a 52 week low of Rs 300.5 on 01-Mar-2016. Last one week high and low of the scrip stood at Rs 432 and Rs 404.75 respectively.

The promoters holding in the company stood at 67.64 % while Institutions and Non-Institutions held 17.05 % and 15.3 % respectively.

The stock is currently trading above its 50 DMA.

Oil India Ltd
BSE 427.25 [0.90] ([0.21]%)
NSE 427.20 1.35 (0.32%)

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Sun Pharma Gains 2%; To Acquire Biosintez in Russia

sun-pharmaSun Pharmaceuticals Industries Ltd  ended at Rs 703.25, up by Rs 13.5 or 1.96% from its previous closing of Rs 689.75 on the BSE.

The company announced that the Company (including its subsidiaries and/or associate companies), has entered into an agreement to acquire 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and the CIS region.

The scrip opened at Rs 696 and has touched a high and low of Rs 704.95 and Rs 690.25 respectively. So far 3211368 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 166005.85 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 898 on 23-Feb-2016 and a 52 week low of Rs 572.4 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 698.95 and Rs 660.1 respectively.

The promoters holding in the company stood at 54.97 % while Institutions and Non-Institutions held 33.34 % and 11.68 % respectively.

The stock is currently trading below its 200 DMA.

Sun Pharmaceuticals Industries Ltd
BSE 701.05 11.30 (1.64%)
NSE 701.30 11.40 (1.65%)
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Allcargo Logistics Q2 FY17 PAT at Rs 64 crore, up 7% YoY

all-cargo-q2-capitalheightAllcargo Logistics Ltd. announced its unaudited financial results for the quarter ended September 30, 2016.

The performance highlights are:
Consolidated Results – Q2 FY17

  • Consolidated Profit and Loss statement of Q2 FY17 does not include the financials of Hindustan Cargo (HCL), Air Freight / Freight Forwarding and Contract Logistics (CL), as these businesses have been transferred to our new JV – ACCI; while Q2 FY16 and Q1 FY17 include the same
  • Total revenue from operations at Rs 1,410 crore for the quarter ended September 30, 2016, as compared to Rs 1,456 crore for the corresponding previous period, a decrease of 3%, mainly on account of lowering freight rates and exclusion of HCL’s and CL’s turnover due to JV accounting 85% of revenues are from the global MTO business
  • The Gross Profit for the quarter ended September 30, 2016 was Rs 452 crore, as against Rs 459 crore for the corresponding previous  period, year on year decrease of 2%, due to lower freight rates and ACCI JV accounting Gross Profit margin for the quarter improved by 50 bps to 32%, mainly on account of higher operating efficiencies
  • EBITDA for the quarter ended September 30, 2016 was Rs 127 crore as against Rs 135 crore during the corresponding previous period, a decrease of 6%, mainly on account of a conscious decision to move away from lower ROCE business viz. trailers, leading to sale of aged assets, slowdown in project logistics business and transfer of HCL and CL business from Allcargo to ACCI
  • PAT at Rs 64 crore for the quarter ended September 30, 2016, as against Rs 60 crore for the corresponding previous period, a increase of 7%, on account of lower interest costs and depreciation
  • EPS for the quarter ended September 30, 2016 was Rs 2.56, for a face value of Rs. 2 per share
Resources and Liquidity:
  • As on September 30, 2016, the Networth was Rs 1,868 crore and the Net Debt was Rs 263 crore.
  • The capital structure of the Company remains conservative with net debt to equity ratio of 0.14 as on September 30, 2016.
  • The Return on Capital (ROCE) stands at 16%.
Business Performance:
Allcargo operates primarily in three segments, viz., Multimodal Transport Operations, Container Freight Station Operations and Project & Engineering Solutions. These are consolidated business segments.Container Freight Stations (CFS):

  • This segment operations are involved in import / export cargo stuffing, de-stuffing, customs clearance and other related ancillary services to both, importers and exporters
  • The CFS facilities are located near JNPT, Chennai and Mundra ports
  • The business maintained total volumes at 69,260 TEUs for the quarter ended September 30, 2016 as against 69,296 TEUs for the corresponding previous period
  • The total revenue for the quarter ended September 30, 2016 was Rs 111 crore as against Rs 106 crore for the corresponding previous period, an increase of 5%, mainly on account of realizations from long standing container and ODC bond cargo
  • EBIT was Rs 40 crore for the quarter ended September 30, 2016, as against Rs 34 crore the corresponding previous period, a increase of 18%, mainly on account of higher operating efficiencies
  • The Return on Capital (ROCE) employed for this business stands at 35%
Allcargo Logistics Ltd
BSE 160.40 4.55 (2.92%)
NSE 160.00 4.45 (2.86%)

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Larsen & Toubro Rallies 3.4% After Q2 FY17 PAT Soars 84%

L&TLarsen & Toubro Ltd is currently trading at Rs 1374.3, up by Rs 45.1 or 3.39% from its previous closing of Rs 1329.2 on the BSE.

The company posted its net profit rose 84% to Rs 1,435 crore in the quarter ended September 2016 as against Rs 778 crore during the previous quarter ended September 2015.

Its sales rose 8.5% to Rs 24,924 crore in the quarter ended September 2016 as against Rs 22,975 crore during the previous quarter ended September 2015.

The scrip opened at Rs 1359.9 and has touched a high and low of Rs 1384.55 and Rs 1353 respectively. So far 2264505 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 123925.86 crore.

The Company continued the momentum of order intake during the second quarter ended September 2016. The consolidated order inflow at Rs 31,119 crore during the quarter registered a YoY increase of 11%.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 1615 on 27-Jul-2016 and a 52 week low of Rs 1016.6 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 1389 and Rs 1306.6 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.73 % and 42.17 % respectively.

The stock is currently trading below its 100 DMA.

Larsen & Toubro Ltd
BSE 1,374.80 45.60 (3.43%)
NSE 1,374.90 45.35 (3.41%)

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Sun Pharma to acquire Biosintez in Russia

sun-pharmaSun Pharma today announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region. The equity consideration for the 85.1% stake is US$ 24 million. Sun Pharma would also assume a debt of approximately US$ 36 million as part of this transaction.

Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately US$ 52 million for 2015. It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, APIs, etc.

According to Aalok Shanghvi, Head of Emerging Markets, Sun Pharma, “This acquisition is consistent with Sun Pharma’s philosophy to invest in strategic Emerging Markets. This transaction gives us access to local manufacturing capability across multiple dosage forms in Russia, enabling us to serve the Russia pharmaceutical market more effectively.”

“This is an important milestone for us” said Artur Valiev, Country Head – Sun Pharma, Russia. “The acquisition signifies Sun Pharma’s commitment to Russia and the Russian 2020 plan for localization.”

The transaction, expected to be completed by end of 2016, is subject to approval of the Russian Federal AntiMonopoly Service and other closing conditions.

As per IMS (MAT September 2016), the Russian pharmaceutical market recorded sales of approximately US$ 10 billion. The market recorded a growth of 7.4% in local currency terms as per IMS.

Sun Pharmaceuticals Industries Ltd
BSE 694.45 4.70 (0.68%)
NSE 692.00 2.10 (0.30%)

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Axis Bank to raise upto Rs 1,800 crore via debentures

axis-bank -CapitalHeightAxis Bank said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures (Basel- III compliant Tier II debentures) (Series – 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1,800 crore.

The board of directors of the bank will consider the proposal to issue and allot the above securities through circular resolution.

Axis Bank Ltd is currently trading at Rs 467.65, up by Rs 1.8 or 0.39% from its previous closing of Rs 465.85 on the BSE.

The scrip opened at Rs 469.9 and has touched a high and low of Rs 471 and Rs 465.25 respectively. So far 1444359 (NSE+BSE) shares were traded on the counter. The current market cap of the bank is Rs 111,376.83 crore.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs 503.45 and Rs 463.5 respectively.

The promoters holding in the company stood at 28.89 % while Institutions and Non-Institutions held 58.14 % and 8.78 % respectively.

The stock is currently trading below its 100 DMA.

Axis Bank Ltd
BSE 461.00 [4.85] ([1.04]%)
NSE 462.40 [3.30] ([0.71]%)
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