Aurobindo Pharma may gain after good Q1 result

Aurobindo Pharma's consolidated net profit rose 23.81% to Rs 584.96 crore on 12.42% growth in total income to Rs 3741.79 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) margin expanded to 23.9% in Q1 June 2016 from 22% in Q1 June 2015. Formulations business rose 15.9% to Rs 3032 crore in Q1 June 2016 over Q1 June 2015. API business rose 1.6% growth to Rs 734.5 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 23 August 2016.

N. Govindarajan, Managing Director of the company said that with focus on execution and capability enhancements the company continues to progress on specialty generics for a sustained long term growth.

Shares of Idea Cellular will be in focus after the company termed reports which indicated that the company is exploring options for strategic deal with Vodafone for potential merger as absolutely untrue and preposterous. The clarification was made after market hours yesterday, 23 August 2016.

eClerx Services scheduled a board meeting on 29 August 2016, to consider a proposal of buyback of equity shares. The announcement was made after market hours yesterday, 23 August 2016.

Indo Count Industries said that its board approved 5-for-1 stock split. The announcement was made after market hours yesterday, 23 August 2016.

Manpasand Beverages said it has completed setting-up of its new manufacturing facility in Haryana. Located in Ambala, the new facility will contribute additional 45,000 to 50,000 cases per day to the company's existing capacity of 1.20 lakh-1.25 lakh cases per day. The total investment for this facility was around Rs 160 core and has been financed though the initial public offer (IPO) proceeds. In 2015, Manpasand had raised Rs 400 crore through an IPO and one of the primary objectives of this was setting-up a manufacturing facility at Ambala in Haryana. With the Ambala facility in near operational phase, Manpasand now has five manufacturing facilities located in various parts of India. It has two manufacturing facilities at Vadodara in Gujarat, one in Varanasi, UP, one in Dehradun and the new one at Ambala in Haryana. The company said it is also planning to set up a new plant in South India in future. The announcement was made after market hours yesterday, 23 August 2016.

Suzlon Energy announced that the securities issue committee of the board of directors of the company approved allotment of 38.95 lakh equity shares of Rs 2 each on conversion of 1,000, $546.916 step-up convertible bonds due in July 2019 of $1,000 each at a conversion price of Rs 15.46 per equity share. The allotment was pursuant to the conversion notice received from a bondholder. The announcement was made after market hours yesterday, 23 August 2016.

Trent said it has fixed 14 September 2016 as the record date for the proposed 10-for-1 stock split. The announcement was made after market hours yesterday, 23 August 2016.

The board of directors of 8K Miles Software Services will consider stock-split and issue of bonus shares.

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