TOP HEADLINES OF THE DAY :-
• Capital First falls on stake sale by Warburg Pincus
• Bajaj Finance Q4FY17: asset quality deteriorates marginally
• OFSS drops as Q4FY17 consolidated net profit declines 35.25% QoQ
• Tata Steel posts a steady Q4 show
• BHEL bags Rs233 cr order from RFCL
Capital First falls on stake sale by Warburg Pincus
Shares of Capital First dropped 5% to Rs729.65 on NSE after the media reports suggested that the Warburg Pincus has sold 20% (20 million shares; out of total 61% stake) of their holding in Capital First at average price of Rs740.
The 20% stake sale is higher than the street expectations of 10% stake sale and in that sense bit of an overhang for the stock.
Bajaj Finance Q4FY17: asset quality deteriorates marginally
Bajaj Finance Q4FY17 first cut: strong operating performance, asset quality deteriorates marginally
Bajaj Finance has posted mixed results with better than expected performance on the operating front however the asset quality deteriorates tad.
The net interest income was up by 48.3% YoY to Rs1477 crore while the non-interest income grew by 49.7% YoY to Rs212.2 crore.
AUM growth during the quarter picked up from the previous quarter to 36.1% YoY and was mainly driven by SME and Commercial segments.
The GNPA for the quarter moved up by 21BPS on a sequential basis to 1.68% and hence the provisions also jumped by 85.1% YoY.
OFSS drops as Q4FY17 consolidated net profit declines 35.25% QoQ
Oracle Financial Services Ltd. consolidated revenue for the quarter came in at Rs864.71 crore, registering 9.3% QoQ decline. This was primarily driven by decline in revenue from product license and related activities.
EBITDA for the quarter fell by 29.1% qoq to Rs. 276.91 crore with a corresponding margin contraction of 900 bps. EBITDA margin for the quarter stood at 32%.The margin contraction was aided by increase in other expenses by 2 times in Q4FY17.
The adjusted PAT for the quarter came in at Rs. 180.27 crore, qoq decline of 35.1%. This came after adjusting exceptional gains and losses in current and previous quarter.
Tata Steel posts a steady Q4 show
Net Loss at Rs1168 cr vs Rs3042 cr YoY
Total Income at Rs35305 cr vs Rs27071 cr YoY
EBITDA at Rs7025 cr vs Rs4400
EBITDA Margin at 20.7% vs 8.7%
Calculated India EBITDA/T Up 64% at Rs 13,470/T
Tata Steel has agreed to the settlement amount of £550 m to British Steel Pension Scheme & provision of a 33% equity stake in Tata Steel UK
Europe Deliveries At 2.85 mt; Calculated EBITDA/T Up 169% At Rs 6,919.
BHEL bags Rs233 cr order from RFCL
BHEL today said it has won Rs 233 crore order for a steam and power generation package from Ramagundam Fertilizers and Chemicals Ltd (RFCL).
The scope of the contract includes design, manufacture and commissioning of a 32.5 MW Gas Turbine, 125 TPH Heat Recovery Steam Generator, 85 TPH Utility Boiler and Balance of Plant (BoP) Package along with associated auxiliaries on Lumpsum Turnkey (LSTK) basis.
The equipment for this package will be supplied by the BHEL’s manufacturing units at Hyderabad, Vizag, Bhopal, Jhansi, Bengaluru, Trichy and Chennai.
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