TOP CORPORATE NEWS : 3 May 2017

top corporate news

TOP Headlines :-

• DHFL Q4 net profit at Rs2217.7 cr
• Tata Motors (JLR US) retail sales grow robust 35% YoY
• TCS wins contract from Vattenfall for IT Services
• Reliance Infra revises issue size of planned Infrastructure Investment

 

• DHFL Q4 net profit at Rs2217.7 cr

Dewan Housing Finance Corporation Ltd (DHFL) reports Q4 net profit at Rs2217.7 crore
Exceptional Gain at Rs1969.4 crore on sale of stake in unit
NII up 31% at Rs627.9 crore Vs Rs479.3 crore (YoY)
Disbursements up 23.3% at Rs8699 crore Vs Rs7055 crore (QoQ)
AUM (GU)20.2% at Rs83560 crore Vs Rs69523.9 crore (YoY)
Sanctions up 68.1% at Rs13,149 crore Vs Rs7821 crore (YoY)
Gross NPA at 0.94% Vs 0.95% (QoQ)
• Tata Motors (JLR US) retail sales grow robust 35% YoY

Tata Motors ( JLR US) retail sales grow robust 35% yoy; best ever April sales in US; positive read thruJaguar sales almost trebled to 3,230 units during the month led by healthy demand for F-Pace SUV which sold 1,377 units Land Rover sales were flat at 5,211 units. Overall growth stood at a robust 35% yoy and were the best ever sales in the month of April for the US market.
• TCS wins contract from Vattenfall for IT Services

TCS has been selected by one of Europe’s largest utilities companies – Vattenfall – to provide IT services across multiple European operations including Sweden, Germany and the Netherlands.
The Managed Services agreement is a multi-year partnership in which TCS will be responsible for the development and maintenance of a large number of applications.

• Reliance Infra revises issue size of planned Infrastructure Investment

Reliance Infrastructure has revised issue size of its planned Infrastructure Investment trust to Rs2500 crore (comprising seven road projects) lower than earlier planned Rs3000 crore (ten road projects) as per media reports. The downward revision is on account of three of the ten road projects not completing two years of operation. Neutral read thru for the stock.

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