Wockhardt, Titan, Karnataka Bank among top 10 stocks in news


Wockhardt : US FDA inspection at Shendra completed. 9 observations
highlighted by US FDA at Shendra. Shendra not supplying to the US. Wockhardt concall at 10:30 am today. Facility in Goa was inspected by MHRA in November 2015. Facility inspection is still an open case. Facility in Goa still supplying to the UK currently. Chikalthana facility was inspected in October 2015. Waluj facility inspected by UK MHRA last in 2013. No planned inspection on Waluj currently.

Titan : Reports suggests that Titan company plans to introduce premium ethnic wear & accessories. Titan to offer saris under Tanishq brand. Retail contributes 90 percent of company’s Rs 12,000 crore business.

Aurobindo Pharma receives US FDA approval for Tranexamic Acid injection.
Company also got approval for Paricalcitol or Zemplar generic.

Natco Pharma gets approval for Lansoprazole or Prevacid generic. Lansoprazole
used to treat stomach & intestinal ulcers. Widely used antacid, over the counter drug.

Oberoi Realty reported more than two-fold jump in consolidated net profit at Rs
209.35 crore for the quarter ended December on higher sales. Its net profit stood at Rs 79.23 crore in the year-ago period.

Total income has increased to Rs 790.33 crore for the October-December quarter of 2015-16 fiscal from Rs 219.6 crore in the corresponding period of the previous year, Mumbai-based developer said in a filing to the BSE.

The company has developed about 40 projects at strategic locations across the Mumbai skyline aggregating about 9.18 million sq ft. Another 20.61 million sq ft is under construction.

LIC Housing Finance reported a 21.6 percent rise in net profit at Rs 418.90 crore
for the third quarter ended December 31.

The company had posted a net profit of Rs 344.34 crore in the corresponding quarter of the previous fiscal, LIC Housing Finance said in a statement.

During the period, the total income of the lender rose to Rs 3,156.70 crore as against Rs 2,735.78 crore during the same period last fiscal.

Karnataka Bank registered a decline of 9.4 percent in its net profit at Rs 96.91
crore for the third quarter ended December. The bank’s net profit stood at Rs 106.94 crore in the same quarter of 2014-15.

“Total income has increased to Rs 1,369.83 crore for the quarter ended December 31, 2015, from Rs 1,364.69 crore for the quarter ended December 31, 2014,” it said in a BSE filing.
On the asset quality front, the gross non-performing assets (NPAs) of the bank stood at 3.56 percent of gross advances as of December 31, 2015, slightly up from 3.44 percent a year ago.

However, the bank kept net NPAs in check, which stood at 2.41 percent of net advances during the reported quarter.

The Mangaluru-headquartered private lender made provisioning and contingencies of Rs 63.11 crore during the quarter under review, down from Rs 78.89 crore a year ago.

Pipavav Defence losses widen in standalone third quarter year on year. Revenue down by 80 percent at Rs 50.5 crore versus Rs 252 crore. EBITDA loss at Rs 127 crore versus profit of Rs 58 crore. Net loss at Rs 293.6 crore versus loss of Rs 70 crore. Cost estimated for revenue recognized at Rs 118 crore versus Rs 22 crore. Finance cost at Rs 117 crore versus Rs 113 crore.

Pipavav Defence board board to be held today. To consider appointment of Anil
Ambani as Chairman. To consider changing company’s name to Reliance Defence. To consider raising funds, including QIP issue. To consider proposal to exit corporate debt restructuring (CDR).