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Oil India Q1 net profit at Rs.494.4 crore

The company's total income has decreased from Rs.3164 crore for the quarter ended June 30, 2015 to Rs.2460.9 crore for the quarter ended June 30, 2016.

Oil  India Ltd. has announced the following Unaudited Standalone results for the quarter ended June 30, 2016:

The company has posted a net profit of Rs.494.4 crore for the quarter ended June 30, 2016 as compared to Rs.743.2 crore for the quarter ended June 30, 2015.

The company's total income has decreased from Rs.3164 crore for the quarter ended June 30, 2015 to Rs.2460.9 crore for the quarter ended June 30, 2016

Reliance Capital hits 52-week high

The announcement was made during market hours today, 6 September 2016.

Meanwhile, the S&P BSE Sensex was up 355.27 points or 1.25% at 28,887.38.

On BSE, so far 4.26 lakh shares were traded in the counter as against average daily volume of 4.89 lakh shares in the past one quarter. The stock hit a high of Rs 560.85 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 545.50 so far during the day. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 2 September 2016, surging 25.11% compared with Sensexs 1.97% rise. The scrip had also outperformed the market in past one quarter, jumping 34.6% as against Sensexs 6.29% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital announced completion of a fund raising exercise of Rs 2000 crore through private placement of secured redeemable non-convertible debentures (NCD) for a period of 5 years and 10 years respectively. The issue size offered was Rs 1000 crore ($150 million) with an option to retain oversubscription, by way of greenshoe option, of upto Rs 1000 crore. The issue was fully subscribed, including the greenshoe option, and will be listed on BSE. The secured redeemable NCDs offer an annual coupon rate of 8.9% for 5 years, and 9% for 10 years.

Sam Ghosh, ED and Group CEO of Reliance Capital said that the funds will be used to refinance the companys existing debt and also grow its lending businesses.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

Todays Market Nifty       8943.00 (+133.35) (+1.51%)

Sensex 28978.02 (+445.91) (+1.56%)
Kaveri Seed Company to hold board meeting
Kaveri Seed Company will hold a meeting of the Board of Directors of the Company on 14 September 2016, to consider amongst other items of Agenda the Un-Audited Financial Results of the Company for the First Quarter ended 30 June 2016 (Q1)
MindTree tumbles after weak outlook

The announcement was made after market hours on Friday, 2 September 2016.

Meanwhile, the BSE Sensex was up 404.93 points, or 1.42%, to 28,937.04.

On BSE, so far 2.53 lakh shares were traded in the counter, compared with average daily volume of 41,426 shares in the past one quarter. The stock hit a high of Rs 525 and a low of Rs 504.50 so far during the day. The stock hit a record high of Rs 803.50 on 4 March 2016. The stock hit a 52-week low of Rs 546.25 on 2 September 2016. The stock had underperformed the market over the past 30 days till 2 September 2016, sliding 8.88% compared with 2.95% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.28% as against Sensexs 6.29% rise.

The large-cap company has equity capital of Rs 167.94 crore. Face value per share is Rs 10.

MindTree said the decline in revenue is expected due to cross-currency movements, project cancellations and slower ramp-ups in a few large clients across different verticals and continued weakness in its UK-based subsidiary Bluefin.

Margins are going to be lower than planned with a decline in earnings before interest, taxes, depreciation and amortization (EBITDA) margins in Q2 September 2016 compared to Q1 June 2016. In light of its weak revenue outlook, the Bluefin business is expected to report an EBITDA loss for the quarter. MindTree has implemented a range of operational efficiency improvements and cost control measures. The savings derived from these initiatives may not be sufficient to offset the revenue slowdown in Q2 September 2016.

The company said it believes its business fundamentals, strategic direction and market positioning continue to look strong in the medium-term especially with its investments in Digital and Managed Services. Business pipeline from its core services and Magnet 360 is amongst the strongest in the last few years. The company said it is well-placed to win some of these opportunities, including some large ones to be awarded over the next few months. The uncertainties in the Bluefin business are likely to continue for a few more months giventhe volatile macroeconomic environment in Europe. The slower revenue momentum in the first half (H1) of the financial yar ending March 2017 (FY 2017) will delay the aspiration to grow EBITDA margins over the financial yar ended March 2016. The cost saving measures and other related initiatives will help the company deliver a higher margin in the second half (H2) of FY 2017 over H1 FY 2017. Even with this change in outlook, the company said it continues to expect its annual revenue growth to be higher than the NASSCOM industry average.

MindTrees consolidated net profit declined 7.2% to Rs 123.50 crore on 0.6% growth in revenue to Rs 1327.60 crore in Q1 June 2016 over Q4 March 2016.

MindTree is a global information technology consulting firm specializing in corporate IT services and solutions.

Todays Market Nifty 8809.65  (+35.00) (+0.40%)

Sensex  28532.11 (+108.63) (+0.38%)

Tata Motors sales jump 6% to 43,061 units in August

today reported a 6 per cent increase in total sales at 43,061 units in August. 

The company sold 40,679 units in the same month last year.

Domestic sales of Tata Motors' commercial and passenger vehicles grew 3 per cent to 36,466 units in August over the same month of the previous year. 

Sales of passenger vehicles in the domestic market grew 16 per cent to 13,002 units last month as against 11,163 in the year-ago period, Tata Motorssaid in a statement. 

Passenger car sales were up 17 per cent at 11,435 units in August compared with 9,814 in the year-ago period. 

In the commercial vehicles segment, the company's domestic sales were down 3 per cent at 23,464 units,Tata Motorssaid. 

Exportsduring the month were up 27 per cent at 6,595 units compared with 5,201 units sold in August 2015.

Todays Market Nifty   8,774.65 (-11.55) (-0.13%)

Sensex 28,423.48 (-28.69) (-0.10%)