Diagnostic chain operator Thyrocare Technologies debuts on the secondary equity market today, 9 May 2016. The company had priced the initial public offer (IPO) at the top end of the Rs 420 to Rs 446 per share price band. The IPO ended on 29 April 2016. It received bids for a total of 55.31 crore shares and it was subscribed 73.55 times. The qualified institutional buyers (QIBs) category was subscribed 73.17 times. The non-institutional investors category was subscribed 225.03 times. The retail individual investors category was subscribed 8.72 times.
Net profit of Reliance Capital rose 1.97% to Rs 415 crore on 11.2% rise in total income to Rs 2828 crore in Q4 March 2016 over Q4 March 2015. Net profit rose 9.99% to Rs 1101 crore on 12% rise in total income to Rs 9998 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours on Friday, 6 May 2016.
Hindustan Unilever (HUL) will announce its Q4 results on today, 9 May 2016.
ITC announced on Sunday, 8 May 2016, that the cigarette factories are commencing production progressively. ITC had announced on 5 May 2016 that the company had to shut its cigarette factories from 4 May 2016 until it is in a position to comply with the interim requirements pending hearing in the Karnataka High Court after Supreme Court on 4 May 2016 passed an order transferring to the Karnataka High Court all writ petitions pending in various courts challenging the rules prescribing 85% pictorial warnings on packages of tobacco products. The Supreme Court observed that all parties should endeavour to follow the rules.
Metal stocks may decline as China's exports unexpectedly fell in April as weak demand continued to weigh on the world's second-largest economy. Exports declined 1.8% in April in dollar terms, reversing an increase of 11.5% the previous month, the General Administration of Customs said Sunday, 8 May 2016. Imports in April fell by a sharper-than-expected 10.9% from a year earlier, compared with a 7.6% drop in March. China's trade surplus widened more than expected last month to $45.56 billion from $29.86 billion in March. China is the world's largest consumer of steel, copper and aluminum.
Siemens' net profit rose 9.61% to Rs 177.42 crore on 4.76% increase in total income to Rs 2810.59 crore in Q2 March 2016 over Q2 March 2015. The result was announced after market hours on Friday, 6 May 2016.
Sun Pharma Advanced Research Company (SPARC) reported a net loss of Rs 9.58 crore in Q4 March 2016 compared with the net loss of Rs 9.40 crore in Q4 March 2015. Total income rose 0.83% to Rs 43.49 crore in Q4 March 2016 over Q4 March 2015.
SPARC reported a net loss of Rs 69.99 crore in the year ended March 2016 compared with the net loss of Rs 39.52 crore in the year ended March 2015. Total income rose 3.43% to Rs 164.22 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours on Friday, 6 May 2016.
Net profit of Titan Company declined 14.40% to Rs 184.11 crore on 1.51% decline in net sales to Rs 2437.15 crore in Q4 March 2016 over Q4 March 2015. Net profit declined 14.24% to Rs 705.85 crore on 5.21% decline in net sales to Rs 11176.90 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours on Friday, 6 May 2016.
Titan said in a statement that Q4 March 2016 and the year ended March 2016 was an extremely challenging one for the company. The challenges faced were both on account of weak market conditions for all businesses and new regulatory restrictions for the jewellery business. The performance came in the backdrop of an environment where the consumer sentiment did not pick up as expected. The strength of the company's brands was tested in an environment of subdued sales across all retail formats of the company as well as related categories. Weak consumer sentiment had an impact on retail sales across all businesses, the company said.
The watches business of the company recorded an income of Rs 1953.55 crore, a growth of 1.7%. This was achieved through planning and execution of various initiatives including new products and campaigns. The key highlight of the year was Titan's entry into the world of smart watches through launch of 'Titan Juxt'. The income from Jewellery segment saw a decline of 7.6% at Rs 8717.40 crore. The absence of revenues from the Golden Harvest scheme for the first eight months of the current fiscal and the disruption caused by the industry-wide strike in the last quarter contributed significantly to the decline in revenue. The year saw launch of many successful collections in jewellery as well as an effective wedding campaign. The income from Eyewear business was Rs 371.58 crore, recording a healthy growth of 11.8% on the bock of an aggressive network expansion strategy. Other businesses of the company comprising precision engineering business, accessories and fragrances recorded a sale of Rs 235.17 crore, a growth of 1.3%.
The year witnessed aggressive expansion of its retail network with a net addition of 82 stores by watches, jewellery and eyewear businesses. As on 31 March 2016, the company had 1283 stores, with over 1.7 million square feet of retail space delivering a retail turnover in excess of Rs 11,010 crore, the company added.
Meanwhile, Titan Company said that its board approved acquisition of majority stake in Chennai-based Carat Lane Trading, a leading online jewellery brand. It sells its products through its website Caratlane.com. The company has also developed omni-channel capabilities and has currently 13 stores across the country with plans to ramp up the retail stores significantly in the future. The financial details of the acquisition will be furnished after the conclusion of the accounting due diligence of the target. Acquisition is expected to be completed on or before mid June 2016. The proposed acquisition does not fall within related party transaction and the promoters of Titan Company have no interest in the entity proposed to be acquired. Mr. Bhaskar Bhat, Managing Director of the Company stated that for Titan, the acquisition brings significant capabilities in the e-commerce space along with a brand, a customer segment and an exciting business model.
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