TOP CORPORATE NEWS - 21 APR 2016

IndusInd Bank Q4: Net Profit at Rs620 Cr Vs Rs495.3 Cr (YoY)

IndusInd Bank Q4: Net Profit at Rs620 Cr Vs Rs495.3 Cr (YoY)

Gross NPA At 0.87% Vs 0.82% (QoQ)

Net NPA At 0.36% Vs 0.33% (QoQ)

Gross NPA at Rs.776.8 Cr Vs Rs.681.1 Cr (QoQ)

Net NPA at Rs.321.7 Cr Vs Rs.273.3 Cr (QoQ)

Provisions at Rs.213.6 Cr Vs Rs.177 Cr (QoQ)

NII at Rs.1, 268.2 Cr Vs Rs.925.1 Cr (YoY)

Glenmark Pharma gets 483 form for Pithampur plant

Glenmark Pharma gets 483 form from USFDA for Pithampur plant.

Although the news is sentimentally negative for the company, according to the management clarification, Zetia (one of the key launch) has been filed from three facilities, hence it’s a breather for the stock.

Cyient Q4 consolidated net profit at Rs66 cr (YoY)

Cyient has announced the following audited results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016

The Company has posted a net profit of Rs24.92 crore Vs Rs72.48 crore (YoY).

Total Income has decreased to Rs302.86 crore Vs Rs352.22 crore (YoY).

Alembic Pharma spurts on JV with Orbicular Pharma

Shares of Alembic Pharmaceuticals Ltd (APL) spurted 7.53% to Rs615 on NSE after the company today said that it has entered into a joint venture with Orbicular Pharmaceutical Technologies and Dr M S Mohan to develop, manufacture and commercialise dermatology products for global markets.

APL and Orbicular will own 60 percent and 40 percent of the equity capital of Aleor when the transaction is completed. Total Income has increased to Rs203.15 crore Vs Rs183.77 crore (YoY).

RIL to expand its GenNext Venture, collaborates with Invest Ottawa

The Indian conglomerate, Reliance Industries Ltd (RIL) has announced to partner with Invest Ottawa, an economic development agency for the city of Ottawa. The partnership will help Reliance Industries GenNext Ventures and the Canadian startups to grow parallel exploiting markets for the best.

The two-year MOU was signed in Mumbai in the presence of eminent members of both sides. VP Rajan Luthra represented Reliance Industries where as Invest Ottawa was represented by its CEO, Bruce Lazenby. The meet also saw the presence of the Mayor of the City of Ottawa Jim Watson and Canadian Consul General in Mumbai Jordan Reeves.

                                        

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