New Fund Launches

Religare Invesco Mutual Fund launched an open-ended fund of funds scheme Religare Invesco Global Equity Fund. The new fund offer (NFO) closed for subscription on 28th April. It seeks to provide capital appreciation by investing in Invesco Global Equity Income Fund, a Luxembourg-domiciled fund that invests primarily in equities of companies worldwide.

L&T Emerging Businesses Fund is a  two-year closed-ended equity scheme with automatic conversion into an open-ended equity scheme on completion of two years from the date of allotment. As the name suggests, the scheme would invest in emerging businesses or, in other words, small-cap stocks. The scheme will invest at least 50% of the portfolio in small-cap stocks. Small-cap stocks means companies that are beyond top 200 companies based on the market capitalisation. The benchmark for the scheme is S&P BSE Small Cap
Index.

Birla Sun Life Emerging Leaders Fund - Series 1 will invest mainly in small- and mid-cap companies. With most small- and mid-cap schemes delivering double-digit returns over the past year, fund houses seem to be using this opportunity to attract investors. The scheme, which has a lock-in period of three years, would invest over 80% of it assets in equity of which, over 70% will be in small- and mid-cap stocks and the remaining would be other equities. The scheme would also have the flexibility to invest as much as 20% of its assets in debt and money-market instruments.

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Alembic Pharmaceuticals FY14 net profit surges 43% to Rs235.50 crore

For FY14 , Alembic Pharmaceuticals net profit surged to Rs235.50 crore on robust growth of its international generic business

Alembic Pharmaceuticals Ltd reported a 43% higher net profit during its full year results due to 99% growth in its international generic business.
 

For the 12 months to end-March, Alembic Pharmaceuticals said its net profit increased 43% to Rs235.50 crore from Rs165.23 crore while its total revenues, including sales, grew 22% to Rs1,868.4 crore from Rs1,526 crore a year ago period.
 

During FY14, Alembic Pharmaceuticals' international branded business grew 32% to Rs73.60 crore while, international generic formulations business grew 99% to Rs468.4.

Alembic Pharmaceuticals said in FY14, its India branded formulations business grew 14% to Rs850.6 crore, however its Indian generic business fell 4% to Rs120.71 crore.
 

In its quarter to end-March Alembic Pharmaceuticals said its net profit grew 40% to Rs61.3 crore from Rs43.7 crore while its total revenues, including sales, grew 23% to Rs465.2 crore from Rs378.4 crore a year ago period.
 

During FY14 Alembic Pharmaceuticals filed four abbreviated new drug application (ANDA) applications taking its cumulative ANDA filings to 61. It received 8 ANDA approvals during FY14 taking its cumulative to 32 ANDA approvals.
 

Alembic Pharmaceuticals declared a dividend of Rs3 per share.
 

At 2.33pm Tuesday, Alembic Pharmaceuticals was trading 2.8% up at Rs288 on the BSE, while the 30-share Sensex was flat at 22,522.

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Cholamandalam Finance FY14 net profit up 19% to Rs364 crore

For FY14, Cholamandalam Finance reported a net profit of Rs364 crore on higher interest income

Cholamandalam Investment and Finance Company Ltd, (Cholamandalam Finance), a non-banking finance company (NBFC)
reported a 19% higher net profit for FY2013-14 mainly on increased revenues, including interest income and growth in its disbursements in home loan segment.
 

For the 12 months to end-March, Cholamandalam Finance said its net profit increased 19% to Rs364 crore from Rs306.55 crore, while its total revenues, including interest income, grew 28% to Rs3,262.84 crore from Rs2,555.68 crore, a year ago period.

During FY14, Cholamandalam Finance said, its total loan disbursements increased 8% to Rs13,144.22 crore from Rs12,118.27 crore. Its home loan disbursements increased 30% to Rs2,810 crore from Rs2,161 crore. While its vehicle loan disbursements increased 2.49% to Rs10,128 crore from Rs9,882 crore a year ago period.
 

The sustained slowdown in the economy and reduction in the freight earning of the borrowers resulted in continued pressure on asset quality. We continue to follow a stringent credit selection approach which is reflected in disbursement growth being relatively lower as compared to the previous year especially in the vehicle finance business,” the lender said in a regulatory filing.
 

During 2013-14, Cholamandalam Finance made provisions of Rs122 crore, ensuring provision coverage of 60%.
 

As on 31 March 2014, its capital adequacy ratio (CAR) stood at 17.23%, gross non performing assets ratio (GNPAs) stood at 1.9%. Its net non-performing assets (NNPA) stood at 0.7%.
 

For the quarter to end-March, Cholamandalam Finance said its net profit grew 6% to Rs90.73 crore from Rs85.76 crore while its total revenues, including interest income, grew 17% to Rs847.95 crore from Rs725.95 crore, same period last year.
 

As on 31 March 2014, the total number of branches stood at 574 from 518 a year ago period.
 

Cholamandalam Finance declared a final dividend of Re1 per share.
 

At 2.29pm Tuesday, Cholamandalam Finance was trading 2.8% down at Rs292 on the BSE, while the 30-share Sensex was also marginally down at 22,513.
 

For more stock results, check out this page

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