TOP CORPORATE NEWS-29 MAY 2015

Nifty Futures Tips

• Government to award projects worth Rs3.5 lakh crore
Government to award projects worth Rs3.5 lakh crore in next six months – Positive for IRB Infrastructure, IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering, KNR Construction, MBL Infrastructure among others. In a press conference yesterday, Mr. Nitin Gadkari highlighted the development plans in the road sector.  The government has set an ambitious target of awarding highway projects worth Rs3.5 lakh crore in the  next six months.

• Amara Raja posts robust 30% growth in net profit
Battery manufacturer Amara Raja posted a strong 20.5% growth in sales for Q4FY15. Benefitting from weak raw material prices, the gross margins for the quarter expanded by 240bps which aided in an impressive 200bps EBITDA margin expansion to 17.5%. The adjusted net profit for the quarter was up 30.5% YoY to Rs109.5 crore.

• India Cements reports Rs36.60 cr net profit in Q4
As India Cements Ltd has announced the following results for the quarter & year ended March 31, 2015: The Company has posted a net profit of Rs36.60 crore Vs net loss of Rs157.12 crore (YoY).Total Income is at Rs1043.10 crore Vs Rs1124.71 crore (YoY). For the Year ended March 31, 2015: The Company has posted a net profit of Rs29.45 crore Vs net loss of Rs162.41 (YoY). Total Income is at Rs4454.40 crore Vs Rs4497.93 crore.The Audited Consolidated results for the Year ended March 31, 2015 .The Group has posted a net loss of Rs3.31 crore Vs net loss of Rs243.38 crore (YoY).Total Income is at Rs5082.85 crore Vs Rs5109.05 crore (YoY).

• United Breweries Q4 net profit at Rs48 crore
Net profit at Rs259.84 crore vs Rs226.02 crore (YoY).Total Income at Rs4729.88 crore vs Rs4250.63 crore (YoY). The Board of Directors recommended payment of Dividend of Re1 per equity share of Re1 for the Financial Year ended March 31, 2015 and has also approved payment of 3% Dividend on Cumulative Redeemable Preference Shares to Scottish & Newcastle India Limited.

• Lloyd Electric spurts on good results
 Shares of Lloyd Electric & Engineering surged 12% to Rs217 on NSE after the company reported good results – Positive .The company reported 21% yoy growth in Q4 standalone revenue mainly led by good offtake in OEM and consumer durables segment. Led by operating leverage, OPM improved to 16.4% which was the highest in at least last 8 quarters.

• Rattan India Power Q4 net loss widens to Rs129 crore
Consolidated :Quarter ended March 31, 2015 .Net loss at Rs223.58 crore vs net loss of Rs16.92 crore (YoY) .Total Income at Rs156.46 crore vs Rs149.73 crore (YoY). Year ended March 31, 2015 .Net loss at Rs663.98 crore vs net loss of Rs101.27 crore (YoY) .Total Income at Rs686.48 crore vs Rs397.61 crore (YoY)

• GMDC Q4 consolidated net profit at Rs235 cr
Consolidated. For the Quarter ended March 31, 2015 .The Group has posted a net profit of Rs234.95 crore Vs Rs191.77 crore (YoY). Total Income is at Rs446.48 crore Vs Rs484.25 crore (YoY).
For the Year ended March 31, 2015. The Group has posted a net profit of Rs500.32 crore Vs to Rs 439.08 crore (YoY). Total Income is at Rs1562.32 crore Vs Rs1427.04 crore (YoY). The Board of Directors of the Company at its meeting held on May 28, 2015, has recommended a dividend of Rs3 per share (150%) for the financial year 2014-15.
                                                                                                 
• REC Q4 net profit drops to Rs1097 crore
Net profit at Rs5344.42 crore vs Rs4741.25 crore (YoY).Total Income at Rs20549.86 crore vs Rs17228.94 crore (YoY).The Board of Directors recommended the Final Dividend of Rs2.70 per share (on the face Value of Rs10 each) for the Financial Year 2014-15, subject to approval of the Shareholders in the ensuing Annual General Meeting. This is in addition to the Interim Dividend of Rs8.00- per share already declared & paid in the month of February, 2015 for the Financial Year 2014-15 thereby making total dividend for the Financial Year 2014-15 to Rs10.70 per share (on the face Value of Rs10 each). The Final Dividend of Rs2.70 per share, if declared at the ensuing Annual General Meeting (AGM), would be paid to the Shareholders within 30 days from the date of AGM.

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