TOP CORPORATE NEWS - 04 MAY 2016

Adani Ports slumps post Q4FY2016 earnings

Shares of Adani Ports and Special Economic Zone slumped 13% to Rs 206 on NSE after the company reported 38% YoY rise in consolidated PAT for Q4FY2016 to Rs914 crore (includes derivate gain of Rs139 crore vs Rs24 crore last year same period).

The consolidated total income and EBITDA increased by 18% YoY and 12% YoY respectively.

The company has given a guidance of 10-15% YoY cargo volume growth and corresponding 10-15% YoY growth in PAT for FY2017

JSW Energy to acquire JSPL’s 1000MW Raigarh plant

JSW Energy to acquire JSPL’s 1000MW Raigarh thermal power plant at Rs6500 crore– Positive for JSPL & JSW energy

JSW Energy is set to acquire 1000 MW Thermal Power project at Raigarh, Chattisgargh from JSPL.

The consideration to be paid by JSW energy is linked to an enterprise value of Rs 4000 crore plus net current assets.

Tata Motors weakens on disappointing JLR April sales

Shares of Indian auto major Tata Motors tanked 7% to Rs381 on NSE after its JLR US April 2016 retail sales declined marginally by 2% yoy; below estimates; negative

JLR retail sales in the US market for the month of April 2016 declined marginally 2% yoy to 6,275 units and were below estimates. JLR underperformed the US car industry which reported a 3% growth in the month of April 2016.

Jaguar sales at 1,087 units remained flat on yoy basis. In the corresponding month last year, Jaguar had retailed 1,079 units.

Adani Ent cracks on weak Q4 net profit

Shares of Adani Enterprises cracked 8% to Rs79 on NSE after its Q4 Consolidated Net Profit dropped by 14.8% at Rs166.8 Cr Vs Rs195.8 Cr (QoQ).

Total Income +5.2% at Rs.10, 950 Cr Vs Rs.10, 408 Cr (QoQ)

EBITDA + 10.3% at Rs.515.3 Cr VS Rs.467.3 Cr (QoQ)

EBITDA Margin At 4.7% Vs 4.5% (QoQ)

Exceptional Loss at Rs.75 Cr Vs Profit Of Rs.13 Cr (QoQ)

Tax Expense at Rs.8 Cr Vv Rs.55 Cr (QoQ)

To Raise Fund Via Issue Of Debt Instruments For Up To Rs.6,000 Cr

Alstom T&D tanks on weak Q4 earnings

Shares of Alstom T&D India tanked over 6% to Rs355 on NSE led by weak Q4FY2016 earnings.

Alstom T & D India Ltd announced the following results:

Unaudited Standalone for Quarter ended March 31, 2016

Net profit at Rs29.87 crore vs Rs54.03 crore (YoY)

Total Income at Rs977.93 crore vs Rs1368.35 crore (YoY)

Audited Standalone for Year ended March 31, 2016

Net profit at Rs77.51 crore vs Rs120.57 crore (YoY)

Total Income at Rs3450.31 crore vs Rs3722.10 crore (YoY)

                                   

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