IDFC may drop after weak Q4 results

IDFC's consolidated net profit declined 50.93% to Rs 257.94 crore on 0.05% growth in total income to Rs 2219.57 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Friday, 25 April 2014.

IDFC's consolidated net profit declined 1.82% to Rs 1802.68 crore on 7.87% growth in total income to Rs 8790 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

IDFC's board of directors at its meeting held on Friday, 25 April 2014, recommended dividend of Rs 2.60 per share for FY 2014.

FMCG major Hindustan Unilever will be in focus ahead of its Q4 results today, 28 April 2014.

Siemens' net profit jumped 195.31% to Rs 88.30 crore on 8.59% fall in sales to Rs 2657.70 crore in Q2 March 2014 over Q2 March 2013. The company registered new orders of Rs 2620.10 crore in Q2 March 2014 compared to Rs 2806.50 crore in Q2 March 2013. The company announced Q2 results after market hours on Friday, 25 April 2014.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens, said, The volumes are stable when viewed in the backdrop of the macro-economic fundamentals. The improved profitability is a clear indication that internal measures aimed at increasing competitiveness have begun to take effect.

With reference to the news item appearing in a financial daily on 23 April 2014 titled "L&T Fin in talks with Yes Bank on stake buy", Yes Bank after market hours on Friday, 25 April 2014, said that the bank does not comment on speculative news appearing in the media. Yes Bank further said that the bank keeps on evaluating capital raising alternatives, and has obtained approval of the board of directors to raise equivalent of $500 of fresh capital in the course of FY 2014-15. The investors/stock exchanges will be informed as and when capital raising plans are finalised in FY 2014-15, Yes Bank said.

Coromandel International after market hours on Friday, 25 April 2014 said it has entered into a JV alliance with the leading agri-machinery manufacturer, Yanmar & Co of Japan, for manufacturing and marketing of rice transplanters, and combine harvesters. A JV company is being formed which will include three partners -Coromandel (40% equity), Yanmar (40% equity) and Mitsui (20% equity) - and will focus on the manufacturing and marketing of these farm mechanization equipment.

State Bank of Tranvancore (SBT)'s net profit declined 70.73% to Rs 48.57 crore on 8.98% growth in total income to Rs 2773.37 crore in Q4 March 2014 over Q4 March 2013. The Q4 result was announced after market hours on Friday, 25 April 2014.

SBT's ratio of gross non-performing assets (NPAs) to gross advances stood at 4.35% as on 31 March 2014 as against 4.41% as on 31 December 2013 and 2.56% as on 31 March 2013. The ratio of net NPAs to net advances stood at 2.78% as on 31 March 2014 as against 2.73% as on 31 December 2013 and 1.46% as on 31 March 2013.

The bank's provisions and contingencies surged 68.45% to Rs 184.90 crore in Q4 March 2014 over Q4 March 2013.

SBT's Capital Adequacy Ratio (CAR) as per Basel III stood at 10.79% as on 31 March 2014 as against 10.03% as on 31 December 2013.

In terms of RBI Circular dated 23 August 2013, on Investments portfolio of banks - Classification, Valuation and Provisioning the bank has transferred SLR securities with face value of Rs 4246.40 crore (Book Value of Rs 4456.28 crore) held under AFS portfolio to HTM portfolio and the loss on such transfer amounting to Rs 50.63 crore has been recognized during the quarter.

Persistent Systems announced after market hours on Friday, 25 April 2014 that the company's board of directors at its meeting concluded on 19 April 2014, had finalized the appointment of Mr. Mritunjay Singh, Chief Operating Officer as the Executive Director of the company with immediate effect. However, the company clarified that in terms of Section 153 of the Companies Act, 2013, Mr. Singh does not have Director Identification Number (DIN) issued by the Ministry of Corporate Affairs (MCA). His DIN application is in process. In terms of Section 152(3) of the Companies Act, 2013, the appointment will be effective subject to the approval of his DIN by the MCA.

EID Parry (India) after market hours on Friday, 25 April 2014 said that as part of the growth strategy for the Nutraceuticals Business, EID Parry (India) has acquired 100% stake in Alimtec SA, Chile, part of the Bayer Group. The acquisition is by way of purchase of the stake from Bayer Finance and portfolio Management SA, and Nunhems Chile SA, subsidiaries of Bayer AG, EID Parry (India) said in a statement.

With this acquisition, EID Parry would ensure reliable sourcing of Astaxanthin for its subsidiary, US Nutraceuticals LLC (Valensa), the company said. With Valensa's strength in developing Astaxanthin based formulations, this acquisition will culminate in value creation for the Nutraceuticals business. The entire production of Alimtec will be used by Valensa for its Astaxanthin products catering to USA & Europe Markets, EID Parry (India) said in a statement.

Alimtec SA, a Chilean company forming part of the Bayer Group, is active in the business of producing Haematococcus pluvialis (H. pluvialis) biomass, a cultured micro-algae that is a rich natural source of Astaxanthin for human use.

Alstom T&D India after market hours on Friday, 25 April 2014 said in response to recent speculation in the economic press that Alstom is not informed of any potential public tender offer for the shares of the company. The Group constantly reviews the strategic options of its business, it said. Alstom plans to communicate as scheduled on May 7 its annual results and will use this opportunity to give an update on the prospects of its activities, the company said in a statement.

Opto Circuits (India) announced after market hours on Friday, 25 April 2014 that a meeting of the board of directors of the company will be held on 6 May 2014, inter alia to discuss various options like FCCB/GDR/preferential allotment/private placement/issue of convertible debentures offering and any other form of raising funds for Opto Circuits (India) and/or for its Indian/overseas subsidiaries for its future expansion, growth, joint ventures, acquisition of technologies and Research and development activities.

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