TOP CORPORATE NEWS - 17 MAY 2016

   !   Axis Bank allots 2,23,985 equity shares

Private-sector lender, Axis Bank said that it has allotted 2, 23,985 equity shares pursuant to exercise of options under its ESOP Scheme. The Bank has allotted 2, 23,985 equity shares of Rs2 each on May 16, 2016, pursuant to exercise of options under its ESOP Scheme. Consequent to the allotment, the paid up share capital of the Bank will increase from Rs477,09,27,186 (238,54,63,593 equity shares of Rs2 each) to Rs477,13,75,156 (238,56,87,578 equity shares of Rs2 each).  Shares of the Bank were trading at Rs503.40 apiece, up 3.49% from the previous close on BSE.

   !   Voltas Q4 consolidated net profit up 49% (YoY)

M&M Voltas Ltd has announced the following results for the quarter & year ended March 31, 2016:For the Quarter ended March 31, 2016

Net Profit surged by 55.90% to Rs137.84 crore Vs Rs88.41 crore (YoY). Total Income increased by 6.23% to Rs1633.75 crore Vs Rs1537.93 crore (YoY).For the Year ended March 31, 2016 Net profit rose by 1.11% to Rs332.89 crore Vs Rs329.23 crore. Total Income increased by 0.64% to Rs5352.57 crore Vs Rs5318.06 crore.

   !   Sun TV rallies as exit polls suggest DMK-Congress set to win

Shares of Sun TV gained 10% to Rs432 on NSE on the back of Recent exit poll results, the DMK-Congress coalition is set to win 120 seats of a possible 234 seats, according to the poll of polls - an aggregate of exit polls aired on different channels after voting ended for state elections. Chief Minister Jayalalithaa could end up with 103 seats, sentimentally positive for Sun TV.

           Motherson Sumi Q4 consolidated net profit up 22%

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Motherson Sumi Systems Ltd has announced the following results for the quarter & year ended March 31, 2016: For the Quarter ended March 31, 2016 (Unaudited) Net Profit rose by 61.11% to Rs235.45 crore Vs Rs146.14 (YoY). Total Income increased by 15.90% to Rs1488.98 crore Vs Rs1284.61 (YoY).

For the Year ended March 31, 2016 (Audited) Net Profit rose by 38.25% to Rs711.85 crore Vs Rs514.88 crore.

   !   Bharat Forge Q4FY2016 results: Below estimates

Bharat Forge Q4FY2016 results: Below estimates given the continued weakness in export markets and adverse product mix. Bharat Forge Ltd has announced the following audited Q4 & FY16 results for the quarter & year ended March 31, 2016:

For the Quarter ended March 31, 2016 Net Profit fell by 19.02% to Rs164.52 crore Vs Rs203.18 crore. Total Income decreased by 17.15% to Rs1030.51 crore Vs Rs1243.92 crore.

                                        

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