TOP CORPORATE NEWS - 12 MAY 2016

Arvind posts a good show for Q4FY16

Arvind Ltd posted a good show for Q4FY16, whereby its consolidated topline grew by 13.7% yoy, driven by strong 31% yoy growth in the brands & retail vertical (led by like to like growth in the portfolio, coupled with addition of new brands and specialty retail in Q4FY16), while the textiles business grew at 4% yoy.

Arvind Ltd has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016.

Standalone For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net profit of Rs73.00 crore Vs Rs67.75 crore.

Total Income is Rs1439.26 crore Vs Rs1381.53 crore.

Rajesh Exports surges ahead of board meeting

Rajesh Exports rose over 3%, touching to Rs579.05, after the company scheduled a board meeting on June 13, 2016, to mull an acquisition in the Middle East.

The acquisition has been proposed to further expand the global footprint of the company in the same line of business after the successful acquisition of Valcambi, the Switzerland based world's largest gold refinery,

Dr Reddys Q4FY2016 result: Mixed bag performance

Dr Reddys Q4FY2016 result was mixed bag performance.

Dr Reddys Laboratories Ltd has announced the following audited Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net loss of Rs5.70 crore Vs net profit of Rs571.40 crore.

Total Income decreased to Rs2478.70 crore Vs Rs2776.00 crore.

Titan to complete Caratlane acquisition in a month

Titan Company said the all-cash acquisition of online jewellery portal Caratlane would be concluded within a month's time, as per report.

Currently, valuation exercise is on. We hope to conclude the transaction in a month's time. It will be an all-cash deal, Titan Managing Director Bhaskar Bhat as per reports.

Cairn India offers to pay 15% of principal amount in pending tax case

Cairn Energy plc of UK has offered to pay 15% of the Rs10,247 crore principal amount in return for government lifting freeze on the 9.8% shares it holds in its erstwhile subsidiary, Cairn India.

Cairn has written to the Finance Ministry saying it wants to avail of latest offer by CBDT of staying outstanding disputed demand on payment of 15% till such time that the case is disposed of.

                                 

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