TOP CORPORATE NEWS - 03 AUG 2016

                                                                   
Titan Company Q1 net profit drops 16%

Titan Company has announced the following Q1 results for the quarter ended June 30, 2016

Net Profit falls 16.34% to Rs126.69 crore Vs Rs151.45 crore (YoY).

Total Income increased by 3.15% to Rs2812.16 crore Vs Rs2726.21 crore (YoY).

Union Bank plans to acquire stake in Union KBC AMC

Union Bank of India to acquire KBC Participations Renta S.A.'s entire 49% stake in Union KBC AMC

Union Bank of India will acquire KBC Participations Renta S.A.'s entire 49% stake in Union KBC Asset Management Co and Union KBC Trustee Co, and is to become the sole sponsor of Union KBC Mutual Fund.

The acquisition is subject to regulatory approvals. Union Bank, which currently holds 51% stake in the joint venture, will post the acquisition wholly own and control the asset management company.

Emami Q1FY2017 revenues grow 20%; operating margins improve

Emami Q1FY2017 consolidated results – revenues grew by 20%; operating margins improved by 450BPS yoy (ahead of expectation)

Emami has announced the following Q1 results for the quarter ended June 30, 2016:

Standalone (YoY)

Net Profit fell by 42.23% to Rs49.17 crore Vs Rs85.12 crore.

Total Income increased by 16.63% to Rs597.42 crore Vs Rs512.53 crore.

Berger Paints Q1 consolidated net profit up 54% (YoY)

Berger Paints India Ltd has announced the following results for the quarter ended June 30, 2016:

Standalone (YoY)

Net Profit rose by 37.18% to Rs114.23 crore Vs Rs83.27 crore.

Total Income increased by 9.68% to Rs1169.49 crore Vs Rs1065.98 crore.

Consolidated (YoY)

Net profit rose by 54.49% to Rs120.26 crore Vs Rs77.84 crore.

Total Income increased by 10.81% to Rs1256.12 crore Vs Rs1133.49 crore.

HCL Tech surges on strong Q1FY17 result, ahead of estimates

Shares of HCL Tech surged 5% to Rs840 on NSE in an otherwise weak markets post Q1FY17 results update: Strong result, ahead of estimates

For Q1FY17, HCL Tech revenues grew by 6.0% (above our expectations) on a constant currency (CC) basis, and 6.5% on a reported basis. IMS services were up by 16.5% qoq on a CC basis, above our estimates.

EBITDA margin remained flat during the quarter, while EBIT margins was down 20 bps qoq to 20.6%, ahead of our estimates.

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