TOP CORPORATE NEWS-16 FEB 2015

Nifty Futures Tips

·JSW Steel records crude steel production of 11.20 Lakh tonnes
JSW Steel has reported crude steel production for the month of January 2015 at 11.20 lakh tonnes compared to 11.09 lakh tonnes in January 2014, registering a growth of 1%.The production for flat rolled products stood at 9.07 lakh tonnes in January 2015 compared to 8.35 lakh tonnes in January 2014, registering a growth of 9%.The production of long rolled products increased by 4% to 1.76 lakh tonnes in January 2015 compared to 1.68 lakh tonnes in January 2014.

·Allcargo logistic gains as Q3FY2015 PAT grows significantly
Shares of Allcargo logistic gained 3% to Rs343.50 on NSE post Q3FY2015 results as PAT grew significantly.Net profit grew by 26% YoY to Rs71.8cr with net margin expansion of 120bps YoY. However, revenues declined by 5.6% YoY to Rs1443.3cr during the quarter.

·HDFC Q3 consolidated net profit at Rs2179 cr (YoY)
Housing Development Finance Corporation ( HDFC) has announced the following Q3 consolidated results for the quarter ended December 31, 2014 (YoY):The Group has posted a profit after taxes of Rs2179.01 crore Vs Rs1934.85 crore (YoY).Total Income has increased to Rs11952.48 crore Vs Rs10052.98 crore (YoY).

·Petrol and diesel prices hike by 82 and 61 paise per litre
Petrol and diesel prices hiked by 82 and 61 paise per litre respectively after many months of price cut, as global oil prices have shown some trend of bounce back and dollar appreciated recently.

·Global Offshore acquires a vessel
Global Offshore Services has taken a delivery of an Anchor Handling Tug cum Supply Vessel (AHTSV) with a DWT of 1600 Tons and a Bollard Pull of minimum 80 Tons with DP-2.The Vessel is presently headed to Singapore to work in the ' spot market'.

·Tata Coffee procures office space in Chennai
Tata Coffee has announced that the Company has invested in a commercial property consisting of four floors of office space in MRC Nagar in Chennai for a consideration of approximately Rs65 crore through public auction.

·TCS Portugal recognised as Specialized Partner of the Year
Tata Consultancy Services ( TCS) has been announced that it has been recognised for its leadership in using Oracle products and technology to create value for customers at 2014 Oracle Excellence Awards.
The Company was presented the '2014 Oracle Excellence Award for Specialized Partner of the Year - Portugal in Applications' for demonstrating excellence in selling, specialising and showcasing Oracle's MDM suite of apps to its global customers in many industries.

·ENIL to acquire TV Today's Oye FM
Entertainment Network India Limited ( ENIL) to acquire TV Today's Oye FM; positive read thru.TV Today's board approved the sale of its Radio segment- Oye FM. On 13 February, the Company had entered into a non-binding memorandum of understanding with ENIL, in relation to the proposed sale of seven radio stations to Entertainment Network (India) Limited subject to fulfillment of the contractual obligations.

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