TOP CORPORATE NEWS - 05 AUG 2016

Stock Futures Tips
Tata Chemicals Q1 margins above estimates
Tata Chemicals Ltd has announced the following Q1 audited results for the quarter ended June 30, 2016
Standalone (YoY)
Net Profit rose by 20.67% to Rs202.96 crore Vs Rs168.19 crore.
Total Income decreased by 16.16% to Rs2012.83 crore Vs Rs2401.02 crore.

Apollo Tyres eyes double-digit FY17 sales growth in India biz
Apollo Tyres eyes double-digit FY17 sales growth in India biz and expects government to impose anti-dumping duty on China imports –positive
Apollo Tyres management has stated the company is targeting double digit growth in FY2017 for the standalone business which is broadly in line with our expectations of 8%.

Bharat Forge Q1 Net Profit down 37.3% at Rs122 Cr
Bharat Forge Q1 Net Profit down 37.3% at Rs122 Cr Vs Rs196 Cr (YoY)
Total Income down 19.3% at Rs957 Cr Vs Rs1, 186 Cr (YoY)
EBITDA down 31.5% at Rs244.4 cr Vs Rs356.6 cr
Margin at 25.5% Vs 30%
Tax Expense at Rs57 cr Vs Rs94.4 cr.

Marico Q1 Consolidated net profti up 17% (YoY)
Marico has announced the following Q1 results for the quarter ended June 30, 2016 (YoY)
Standalone (YoY)
Net Profit rose by 28.96% to Rs234.88 crore Vs Rs182.12 crore.
Total Income has increased to Rs1476.71 crore Vs Rs1462.98 crore.

Tech Mahindra partners Telit for developing IoT solutions
Tech Mahindra has announced its collaboration with Telit on developing complete solutions for the Internet of Things (IoT).
Both companies are also jointly pursuing new business opportunities across industries, such as IoT horizontal and Industrial IoT.
Additionally, Telit has reached an agreement to outsource related engineering development and testing activities to Tech Mahindra.


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