TOP CORPORATE NEWS - 20 APR 2016

TCS drops as Q4FY2016 margins miss the mark

Shares of TCS dropped to Rs 2450 on NSE post Q4FY2016 results despite inline revenue performance as margins miss the mark.

Inline revenues, margins missed the mark: after six back to back quarter of revenues miss, TCS has delivered a inline revenues performance with 2.1% qoq growth on CC basis (1.5% on reported basis), volume growth was decent at 3.2%, while realization was down by 1.1% qoq.

Dr Reddys launches ZEMBRACE SymTouch

Dr Reddys Laboratories launches ZEMBRACE SymTouch ( sumatriptan injection) 3 mg, approved by the FDA in January 2016 for the acute treatment of migraine in the US – Positive for Dr Reddy.

CRISIL Q1 consolidated net profit up 40% (YoY)

CRISIL has announced the following Q1 results for the quarter ended March 31, 2016

Unaudited Standalone results for the Quarter ended March 31, 2016:

The Company has posted a net profit of Rs65.64 crore Vs Rs45.61 crore (YoY).

Total Income has increased to Rs267.23 crore Vs Rs227.30 crore (YoY).

TV18 Broadcast Q4 consolidated net profit down 14% (YoY)

TV18 Broadcast has announced the following Q4 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (Unaudited)

The Company has posted a net profit of Rs58.67 crore Vs Rs60.90 crore (YoY).

Total Income has increased to Rs203.15 crore Vs Rs183.77 crore (YoY).

HDFC rises after board approves stake sale

Housing Development Finance Corporation (HDFC) surged nearly 3%, touching to Rs1158.5, after the company announced that it has in-principle agreed to sell up to 10% of its stake in insurance arm HDFC Standard Life through offer for sale.

The board of directors of HDFC Standard Life Insurance Company Ltd (HDFC Life), a material non listed subsidiary of the Corporation, at its meeting held on April 18, 2016, approved taking steps to initiate the process for an initial public offer (IPO) by way of offer for sale by the Corporation, up to 10% of the paid-up and issued equity share capital of HDFC Life.

                              

Get real time advice for Intraday Trading Tips , Share Market Live  , Intraday Equity Tips , Stock Trading tips , Free Intraday Tips , Best Accurate Stock Tips , NSE Stock market Tips and all Maket Updates .