TOP CORPORATE NEWS:- 08 Aug, 2017

Corporate News

TOP Headlines:- 08 Aug 2017

NCC Q1 net profit up 21% (YoY)
Airtel to sell stake in Infratel
Gabriel Q1 result beats estimates
Century Textiles Q1 net profit at Rs120 cr
McLeod Russel posts Q1 net loss at Rs1.6 cr

McLeod Russel posts Q1 net loss at Rs1.6 cr
McLeod Russel Q1 result for June 30, 2017
Net loss at Rs1.6 crore Vs loss of Rs17.3 crore (YoY)
Revenue up 8.1% at Rs193.4 crore (YoY)
EBITDA at Rs10.3 crore Vs EBITDA loss of Rs14.1 crore (YoY).

Century Textiles Q1 net profit at Rs120 cr
Century Textiles & Industries Q1 result for June 30, 2017
Net profit at Rs120 crore Vs Rs6.5 crore (YoY);
Revenue up 0.5% at Rs2319 crore (YoY)
EBITDA up 58.9% at Rs353.3 crore (YoY)
EBITDA margin at 15.2% vs 9.6% (YoY).

Airtel to sell stake in Infratel
Bharti Airtel will sell 3.7% in its telecom tower business (Bharti Infratel) to institutional investors. The share sale will happen at 0-5% discount to the last closing price (Rs398 per share). The shares will be sold in price range of Rs378-397.85 per share.
The 3.7% stake being sold at present, is from the portion that was parked with Nettle Infra. In March 2007, the company sold 10.3% stake in Bharti Infratel to a consortium of entities, including KKR and CPPIB, to raise Rs6,193.9 crore.

NCC Q1 net profit up 21% (YoY)
NCC Q1 Standalone result for June 30, 2017
Net profit up 21.2% at Rs63.4 crore Vs Rs52.3 crore (YoY)
EBITDA up 3.2% at Rs171 crore vs Rs165.7 crore (YoY);
EBITDA margin at 8.5% vs 8.7% (YoY)
Order book at Rs22, 009 crore, up 22% YoY
Revenue at Rs2, 014 crore vs Rs1, 901 crore (YoY)
Secured orders worth Rs6, 051 crore in Q1.

Gabriel Q1 result beats estimates
Gabriel reported a strong set of numbers for Q1FY2018 with the numbers coming in ahead of estimates on operating front, however a higher tax outgo dragged the PAT, which was in – line with estimates. The company has adopted to IND AS accounting standards effective April 01, 2017.
The top line for the quarter at Rs419 crores grew strongly by 13.7% YOY buoyed by an improved demand from the auto OEM’s and increased supplies to HMSI. The top line was ahead of our estimate.
The operating profit margins at 9.6% were flat on a YoY basis and was broadly in line. Gabriel managed to offset higher raw material costs with cost control measures and improved pricing. Tracking the healthy top line growth, the EBITDA at Rs40 crores was up 13.6% YoY and was ahead of our estimate of Rs36 crore.
Due to increased tax outgo for the quarter (tax / PBT – 32.4% V/S 25.9% for Q1FY17) dragged down the PAT growth to 2% YoY. The PAT at Rs20.4 crore came in-line with our estimates.

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