TOP CORPORATE NEWS - 23 JAN 2015

Nifty Futures Tips

·Dish TV jumps 8% on overall strong show in Q3
Shares of Dish TV surged over 8% to Rs81 on NSE led by strong show on all counts, management indicated at inflexion point to turn profitable. Dish TV has delivered strong set of numbers for Q3FY15, with EBITDA margins of 26.8%, improved by 246 bps QoQ. Revenues were up by 6% QoQ, while ARPU at Rs177 increase by 3% QoQ. Net loss for the quarter reduced to Rs2.9 crore and company made a free cash flow of Rs29.8 crore for the quarter.

·Kolte-Patil developers to invest over Rs3,000 cr in 13 new projects
Kolte Patil Developers is planning to invest Rs3,000 to 3,500 crore in 13 new projects in the city. It will develop over six to eight million square feet area in the next three years.
Around 80% of the funds will be raised through internal accruals while rest through construction financé and equity. Currently, the company has a total land bank of 50 million square feet in and around Pune.

·Atul Q3 net profit down 18% (YoY)
Atul has announced the following Unaudited Standalone results for the quarter ended December 31, 2014 (YoY):Net profit fell by 17.67% to Rs53.71 crore Vs Rs65.24 crore (YoY).Total Income increased by 3.12% to Rs630.98 crore Vs Rs611.86 crore (YoY)

.IT Dept orders FMCG MNC’s to pay higher taxes
Income Tax Department order FMCG MNC’s like HUL, P&G, L’Oreal & others like Maruti Suzuki and LG Electronics to pay taxes on advertising, marketing and sales promotion expenses higher than the industry average – negative for large FMCG MNCs.The income-tax department has ordered several MNCs, mostly FMCG companies, to pay taxes on advertising, marketing and sales promotion (AMP) expenses incurred over and above the industry average.

·Clean chit to Srinivasan; Meiyappan, Kundra found guilty
Clean chit to Srinivasan (Chairman of India cement); Meiyappan, Kundra found guilty: Positive for India Cement. Allegation on N Srinivasan for covering-up his son-in-law was not proved due to lack of evidence. However Supreme Court has came down hard on his vested interests in the Chennai Super Kings, which is owned by his company India Cements. As a consequence, Srinivasan may now be allowed to contest the BCCI presidential elections that are expected to be held shortly.

·Colgate Palmolive Q3 net profit surges by 16% (YoY)
Colgate Palmolive (India) has announced the following Unaudited Standalone results for the quarter ended December 31, 2014 (YoY):Net Profit rose by 15.97% to Rs130.86 crore Vs Rs112.83 crore (YoY). Total Income increased by 10.83% to Rs1005.67 crore Vs Rs907.35 crore (YoY).

·Bosch new gasoline systems facility in Tamil Nadu
Bosch new gasoline systems facility in Tamil Nadu; positive for the company.Leading component manufacturer, Bosch has inaugurated its new facility in Gangaikondan, Tamil Nadu.The company has invested Rs50 crore on this facility which will focus on gasoline systems for both automotive and two wheelers. The plant will help localise manufacturing and increase cost competitiveness.

.Rico Auto surges 4% on restructure plans
Shares of Rico Auto Industries surged 4% to Rs47.55 on NSE on board meeting to restructure holding in subsidiary companies .Rico Auto Industries (Rico) will be meeting on January 28, 2015 to consider transfer of investments held in subsidiary companies to a newly incorporated subsidiary formed as Core Investment Company (CIC).The board will also consider transfer of Ferrous Auto component business located at Gurgaon & Manesar and also Aluminum auto component business at Sanand to one of its subsidiary companies. Prima facie the move is positive; however further details are awaited.

Get free trading in equity tips, stock futures calls , intraday stock futures,  stock futures tips, free commodity tips, nifty tips, nifty futures tips, mcx tips, ncdex tips,  and share market tips etc. 
http://www.capitalstars.com

Comments