Commodities Buzz: EIA Crude Inventories Witness Third Consecutive Drop

Crude oil inventories in the US continued their drop, the US Energy InformationAdministration said Wednesday. US commercial crude inventories decreased by 2.7 millionbarrels last week, maintaining a total US commercial crude inventory of 482.2 millionbarrels. This is the third consecutive drop in crude supplies though the inventories atthis time of the year remain at their highest in eight decades. US Gasoline stockpilesalso dropped 2.8 million barrels to 223.9 million barrels, the lowest in five months.Distillate stocks, which include heating oil and diesel fuel, slipped by 500,000 barrelsas well. For the past week, crude imports averaged 7.2 million barrels a day, up by318,000 barrels a day compared with the previous week. Refineries were running at 92.4% ofcapacity, with daily input of over 16.2 million barrels, about 245,000 barrels a day abovethe previous week’s average.

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ABG Shipyard stock slumps 18%

The company has clarified that they are working within the framework of Corporate Debt Restructuring (CDR) Scheme and our principal repayment of loans are yet to start.

Shares of ABG Shipyard were lower by 18% to Rs. 140.

The stock has hit a high of Rs. 173 and a low of Rs. 137.

The company has clarified that they are working within the framework of Corporate Debt Restructuring (CDR) Scheme and our principal repayment of loans are yet to start. Therefore, the news article in 'Economic Times’ may be their views.

The Exchange had sought clarification from ABG Shipyard Ltd with respect to news appearing in The Economic Times on May 15, 2015 titled "ABG Defaults on Restructured Loan."

Claris Lifesciences stock surges 9%

Cadila Healthcare is planning to acquire the generic sterile injectables business of Claris Lifesciences , says report.

Shares of Claris Lifesciences were higher by 9% to Rs 307 on reports that Cadila Healthcare is planning to acquire the generic sterile injectables business of the company.

The stock has hit a high of Rs. 331 and a low of Rs. 306.

A formal announcement is expected early next month, says report.

Sterlite Technologies zooms 4% backed on Q4 earnings

Revenues for the Q4, FY15 stood at Rs. 979 crores, an increase of 52% with respect to same period last year. Full year revenues stood at Rs. 3030 crores.

Shares of Sterlite Technologies Ltd ended higher by 4% at Rs. 66 post Q4 results.
The stock has hit a high of Rs. 69 and a low of Rs. 63.
The Board of Directors of the Company at its meeting held on May 18, 2015, has approved a Corporate Restructuring Plan.

Revenues for the Q4, FY15 stood at Rs. 979 crores, an increase of 52% with respect to same period last year. Full year revenues stood at Rs. 3030 crores.
Q4 2015 EBITDA at Rs. 131 crores continues to show sequential growth on a Quarter on Quarter basis.
On full year basis, the standalone EBITDA for FY15 stood at Rs. 386 crores against Rs. 271 crores.
 EBITDA margin improved from 10% last year to 13% this year.
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SBI to e-auction distressed properties every quarter

The first e-auction for distressed properties will take place in mid-June

State Bank of India on Thursday said it has decided to hold e-auctions of distressed properties in the middle of the last month of every quarter, according to a media report.

The first e-auction for distressed properties will take place in mid-June. The Bank has decided to conduct e-auction of distressed properties every quarter separately for retail properties.

SBI will hold these auctions in the middle of the last month of every quarter. Thus, mid-June will see a new auction.

These properties came to SBI as they were collaterals plegded by borrowers for housing or other business loans. But the borrowers defaulted on repayment, forcing the bank to take over them under the Security and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act.

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Capital First gains on Q4 earnings

Total income also jumped by 33.7 percent to Rs. 385 crore from Rs. 288 crore for the above mentioned period.

 

Capital First is trading on a positive note on recording a net profit of Rs. 36.5 crore in Q4FY15, as against Rs. 29.8 crore in a year ago period.

Total income also jumped by 33.7 percent to Rs. 385 crore from Rs. 288 crore for the above mentioned period.

The stock so far has jumped 3.3 percent to a high at Rs. 413 and is now up 1.2 percent at Rs. 405. On the BSE counter, so far, 30,000 shares are traded, against two-week daily average volume of 41,000 shares.

Meanwhile, the Sensex has shed 118 points at 27,133.

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Lupin plunges 3%, misses street estimates on Q4 earnings

The company’s Q4 standalone net profit declined by 28.7 percent to Rs. 407 crore as against Rs. 571.17 crore in the corresponding quarter a year ago.

Lupin reversed gains in late trades and plunged 3.5 percent to Rs. 1,687.

The company’s Q4 standalone net profit declined by 28.7 percent to Rs. 407 crore as against Rs. 571.17 crore in the corresponding quarter a year ago. 

Total income too was down 11.1 percent at Rs. 2,198 crore from Rs. 2,472 crore.

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Commodities Buzz: Japan Special Steel Output Expected At 4.68 Million Tonnes in Q 2

Japanese Ministry of Economy, Trade and Industry (METI) estimated that Japanese special steel output will be at 4.68 million tons in the second quarter of 2015, compared from 4.8 million tons in the first quarter of 2015.

Among them, Japanese steel mills are going to produce special steel products around 3.08 million tons for the domestic market and 1.59 million tons for exports.

Market participants said the demand has weakened due to shrining consumption from auto and energysectors.

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Den Networks dips 3% on poor Q4 results

The company has posted a net loss of Rs. 620.80 million for the quarter ended March 31, 2015 as compared to net profit of Rs. 100.50 million for the quarter ended March 31, 2014. 

Shares of Den Networks Ltd were trading lower 3% at Rs. 136 on BSE today. The company has posted a net loss of Rs. 620.80 million for the quarter ended March 31, 2015 as compared to net profit of Rs. 100.50 million for the quarter ended March 31, 2014.
Total Income has decreased from Rs. 3256.80 million for the quarter ended March 31, 2014 to Rs. 2931.60 million for the quarter ended March 31, 2015.
The stock opened at Rs. 134 as against the previous close of Rs. 140.10 on BSE. It has hit a high of Rs. 138 and a low of Rs. 133.10 on BSE today.
Total traded quantity on the counter stood at over 7,327 lk shares on BSE.Meanwhile, the BSE Sensex is down 335 points at 27,172. 

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Meanwhile, the BSE Sensex is down 335 points at 27,172. - See more at: http://www.indiainfoline.com/article/news-top-story/den-networks-dips-3-on-poor-q4-results-115051200240_1.html#sthash.gwqof8Zw.dpuf

Total traded quantity on the counter stood at over 7,327 lk shares on BSE.

Meanwhile, the BSE Sensex is down 335 points at 27,172. - See more at: http://www.indiainfoline.com/article/news-top-story/den-networks-dips-3-on-poor-q4-results-115051200240_1.html#sthash.gwqof8Zw.dpuf

The stock opened at Rs. 134 as against the previous close of Rs. 140.10 on BSE. It has hit a high of Rs. 138 and a low of Rs. 133.10 on BSE today.

Total traded quantity on the counter stood at over 7,327 lk shares on BSE.

Meanwhile, the BSE Sensex is down 335 points at 27,172. - See more at: http://www.indiainfoline.com/article/news-top-story/den-networks-dips-3-on-poor-q4-results-115051200240_1.html#sthash.gwqof8Zw.dpuf

Total Income has decreased from Rs. 3256.80 million for the quarter ended March 31, 2014 to Rs. 2931.60 million for the quarter ended March 31, 2015.

The stock opened at Rs. 134 as against the previous close of Rs. 140.10 on BSE. It has hit a high of Rs. 138 and a low of Rs. 133.10 on BSE today.

Total traded quantity on the counter stood at over 7,327 lk shares on BSE.

Meanwhile, the BSE Sensex is down 335 points at 27,172. - See more at: http://www.indiainfoline.com/article/news-top-story/den-networks-dips-3-on-poor-q4-results-115051200240_1.html#sthash.gwqof8Zw.dpuf

Shares of Den Networks Ltd were trading lower 3% at Rs. 136 on BSE today. The company has posted a net loss of Rs. 620.80 million for the quarter ended March 31, 2015 as compared to net profit of Rs. 100.50 million for the quarter ended March 31, 2014.

Total Income has decreased from Rs. 3256.80 million for the quarter ended March 31, 2014 to Rs. 2931.60 million for the quarter ended March 31, 2015.

The stock opened at Rs. 134 as against the previous close of Rs. 140.10 on BSE. It has hit a high of Rs. 138 and a low of Rs. 133.10 on BSE today.

Total traded quantity on the counter stood at over 7,327 lk shares on BSE.

Meanwhile, the BSE Sensex is down 335 points at 27,172. - See more at: http://www.indiainfoline.com/article/news-top-story/den-networks-dips-3-on-poor-q4-results-115051200240_1.html#sthash.gwqof8Zw.dpuf

Shares of Den Networks Ltd were trading lower 3% at Rs. 136 on BSE today. The company has posted a net loss of Rs. 620.80 million for the quarter ended March 31, 2015 as compared to net profit of Rs. 100.50 million for the quarter ended March 31, 2014.

Total Income has decreased from Rs. 3256.80 million for the quarter ended March 31, 2014 to Rs. 2931.60 million for the quarter ended March 31, 2015.

The stock opened at Rs. 134 as against the previous close of Rs. 140.10 on BSE. It has hit a high of Rs. 138 and a low of Rs. 133.10 on BSE today.

Total traded quantity on the counter stood at over 7,327 lk shares on BSE.

Meanwhile, the BSE Sensex is down 335 points at 27,172. - See more at: http://www.indiainfoline.com/article/news-top-story/den-networks-dips-3-on-poor-q4-results-115051200240_1.html#sthash.gwqof8Zw.dpuf

Tata Communications and China Telecom Global in pact for media, entertainment

This partnership leverages China Telecom Global’s regional expertise and leadership and Tata Communications’ Global Video Network to ensure a compelling service offering to their customers.

Tata Communications, a leading provider of A New World of Communications, today announces its brand new video network partnership with China Telecom Global to enable and manage media content for customers in China and globally. This partnership leverages China Telecom Global’s regional expertise and leadership and Tata Communications’ Global Video Network to ensure a compelling service offering to their customers. The partnership, which began with the successful delivery of the 2015 World Figure Skating Championship from Shanghai to Japan, enables China Telecom Global to leverage the global reach, quality and reliability of Tata Communications’ Global Video Network to offer unparalleled reach for all their live sporting events in China. Pengcheng Fan, Vice President, Product Development, China Telecom Global, says, “Mobile video consumption is growing at an exponential rate with a robust growth trajectory expected in the next five years. Through our new video network partnership, China Telecom Global can provide seamless connectivity for our media and entertainment customers across China. The partnership is defined by connectivity to key global destinations, premium quality and industry leading SLAs. We are excited about this partnership as it helps to further differentiate our service offerings in the market.” Reports state that Mobile Video will generate more than 69 percent of Mobile Data traffic by 20191. To ensure that its customers have the absolute in leading edge technology, Tata Communications recently launched the new Media Ecosystem which combines traditional video contribution services with IP-based connectivity. The ecosystem enables seamless management of content as a cloud-based managed service and supports global media distribution requirements, OTT and mobility applications. This platform provides customers with flexibility and intelligence, allowing customers to experiment with new formats and to launch new services and channels at the touch of a button. Brian Morris, Vice President & General Manager, Global Media & Entertainment services, Tata Communications says, “Tata Communications is dedicated to offering its media customers access to key media hotspots for the distribution of premium broadcast quality content across the globe. This partnership with China Telecom Global is a natural step in that direction and marks the expansion of Tata Communications’ Global Video Network reach into China. We are excited to leverage China Telecom Global’s video network in China and to offer our customers access to this key region, connecting broadcasters, media and entertainment providers, news bureaus and service providers ,across the globe.” Tata Communications delivers world-class connectivity backed by the company’s leading global fiber network. Its Video Network covers more than 300 media hotspots in 125 cities globally. Today, over 24% of the world’s Internet routes travel over Tata Communications’ network and the company is the only Tier-1 provider that is in the top five by routes in five continents. The network inter-connect between Tata Communications and China Telecom Global is located in Hong Kong.

Moksha Stocks

PNB Q4 disappoints, profit tanks 62%, asset quality weak

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article

 Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

 

Moneycontrol Bureau Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore. Higher provisions, flat operating profit and lower net interest income dented the bottomline that got support from other income and tax gains. Net interest income, the difference between interest earned and interest expended, fell by 5.3 percent to Rs 3,791 crore for the quarter ended March compared to Rs 4,002 crore in the year-ago period, impacted by lower credit growth and NPA. Profit was estimated at Rs 873 crore and net interest income at Rs 4,322 for the quarter, according to a CNBC-TV18 poll. Other income (non-interest income) surged 29.2 percent year-on-year to Rs 1,805.13 crore, aided by trading profit (of Rs 538 crore) and recoveries. Operating profit increased by 0.92 percent to Rs 3,202.7 crore in fourth quarter. Provisions for bad loans shot up 79.2 percent (up 161 percent sequentially) to Rs 3,834 crore during January-March quarter compared to Rs 2,139 crore in the year-ago period with provisioning coverage ratio at 58.21 percent as on March 31. Asset quality deteriorated during January-March quarter with the gross non-performing assets (NPA) climbing 6.55 percent compared to 5.97 percent in December quarter and 5.25 percent in corresponding quarter of last fiscal. Net NPA rose by 121 basis points year-on-year (up 24 basis points sequentially) to 4.06 percent in the quarter gone by. In absolute term, gross NPA climbed 36 percent Y-o-Y (up 15.7 percent Q-o-Q) to Rs 25,695 crore and net NPA jumped 55.2 percent year-on-year (up 11.7 percent quarter-on-quarter) to Rs 15,396 crore in the quarter ended March 2015. The public sector lender reported a tax gain of Rs 938 crore during January-March quarter against tax expenses of Rs 228.4 crore in the same quarter last year. At 13:02 hours IST, the scrip of Punjab National Bank was quoting at Rs 146.40, down Rs 9.75, or 6.24 percent on the BSE.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article

 Moneycontrol Bureau Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore. Higher provisions, flat operating profit and lower net interest income dented the bottomline that got support from other income and tax gains. Net interest income, the difference between interest earned and interest expended, fell by 5.3 percent to Rs 3,791 crore for the quarter ended March compared to Rs 4,002 crore in the year-ago period, impacted by lower credit growth and NPA. Profit was estimated at Rs 873 crore and net interest income at Rs 4,322 for the quarter, according to a CNBC-TV18 poll. Other income (non-interest income) surged 29.2 percent year-on-year to Rs 1,805.13 crore, aided by trading profit (of Rs 538 crore) and recoveries. Operating profit increased by 0.92 percent to Rs 3,202.7 crore in fourth quarter. Provisions for bad loans shot up 79.2 percent (up 161 percent sequentially) to Rs 3,834 crore during January-March quarter compared to Rs 2,139 crore in the year-ago period with provisioning coverage ratio at 58.21 percent as on March 31. Asset quality deteriorated during January-March quarter with the gross non-performing assets (NPA) climbing 6.55 percent compared to 5.97 percent in December quarter and 5.25 percent in corresponding quarter of last fiscal. Net NPA rose by 121 basis points year-on-year (up 24 basis points sequentially) to 4.06 percent in the quarter gone by. In absolute term, gross NPA climbed 36 percent Y-o-Y (up 15.7 percent Q-o-Q) to Rs 25,695 crore and net NPA jumped 55.2 percent year-on-year (up 11.7 percent quarter-on-quarter) to Rs 15,396 crore in the quarter ended March 2015. The public sector lender reported a tax gain of Rs 938 crore during January-March quarter against tax expenses of Rs 228.4 crore in the same quarter last year. At 13:02 hours IST, the scrip of Punjab National Bank was quoting at Rs 146.40, down Rs 9.75, or 6.24 percent on the BSE.
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Moneycontrol Bureau Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore. Higher provisions, flat operating profit and lower net interest income dented the bottomline that got support from other income and tax gains. Net interest income, the difference between interest earned and interest expended, fell by 5.3 percent to Rs 3,791 crore for the quarter ended March compared to Rs 4,002 crore in the year-ago period, impacted by lower credit growth and NPA. Profit was estimated at Rs 873 crore and net interest income at Rs 4,322 for the quarter, according to a CNBC-TV18 poll. Other income (non-interest income) surged 29.2 percent year-on-year to Rs 1,805.13 crore, aided by trading profit (of Rs 538 crore) and recoveries. Operating profit increased by 0.92 percent to Rs 3,202.7 crore in fourth quarter. Provisions for bad loans shot up 79.2 percent (up 161 percent sequentially) to Rs 3,834 crore during January-March quarter compared to Rs 2,139 crore in the year-ago period with provisioning coverage ratio at 58.21 percent as on March 31. Asset quality deteriorated during January-March quarter with the gross non-performing assets (NPA) climbing 6.55 percent compared to 5.97 percent in December quarter and 5.25 percent in corresponding quarter of last fiscal. Net NPA rose by 121 basis points year-on-year (up 24 basis points sequentially) to 4.06 percent in the quarter gone by. In absolute term, gross NPA climbed 36 percent Y-o-Y (up 15.7 percent Q-o-Q) to Rs 25,695 crore and net NPA jumped 55.2 percent year-on-year (up 11.7 percent quarter-on-quarter) to Rs 15,396 crore in the quarter ended March 2015. The public sector lender reported a tax gain of Rs 938 crore during January-March quarter against tax expenses of Rs 228.4 crore in the same quarter last year. At 13:02 hours IST, the scrip of Punjab National Bank was quoting at Rs 146.40, down Rs 9.75, or 6.24 percent on the BSE.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_articleMoksha Stocks

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_articlehfg

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article

Punjab National Bank (PNB) disappointed street on Friday with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest income.

Read more at: http://www.moneycontrol.com/news/results/pnb-q4-disappoints-profit-tanks-62-asset-quality-weak_1378879.html?utm_source=ref_article