BHEL gains on better than expected Q4FY16 performance
Shares of BHEL gained over 5% to on NSE in an otherwise weak market after announcing its provisional results which came better than expected performance in Q4FY16.
BHEL reported Rs398 crore profit in Q4FY16 which was above our as well as street estimates while the turnover was in-line with our estimates.
Tata Motors JLR March 2016 retail sales grow 30% YoY
JLR global retail sales for March 2016 came in at a record high of 75,303 units up 29% YoY and were ahead of our estimates.
Jaguar sales nos were up record 62% YoY on the back of sustained sales momentum for XE (6,521 vehicles) and the all-new XF (5,331 vehicles). Jaguar recorded significant year-on-year growth across all five of its key regions, with Europe excelling, up 151%. Growth.
Hindalco: Novelis in talks with banks on $5.3 billion refinancing
Hindalco: As per media news, Novelis said to be in talks with banks on $5.3 billion refinancing.
The loans the Atlanta-based unit of Hindalco Industries is seeking to refinance are currently due by 2017. Hindalco Industries Ltd may initially seek to refinance as much as $3.5 billion of debt.
HDFC to make additional one-time provision of Rs450 crore in Q4
HDFC is set to make additional one-time provision of Rs450 crore in Q4 (Jan-Mar qtr); it also will account for Rs1, 705 crore on stake sa in its life insurance subsidiary, HDFC Standard Life.
Axis Bank takes over Jaypee's Nirman Sadan against Rs700 cr debt
Axis Bank takes over Jaypee's Nirman Sadan against Rs700 cr debt – Positive in terms of some recovery.Jaypee Group's headquarter in Noida - Nirman Sadan, has been taken over by Axis Bank against Rs700 crore owed by the company.
With this deal, Jaypee's exposure to Axis Bank, which stood at around Rs1500 crore, has been reduced to half.
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