News Headline Summary

PRE-MARKET INDIAN STOCK NEWS: Tata Consultancy beats on their Q4 net

- Co. reported Q3 net of INR 16.2bln vs. Exp. INR 15.4bln. (BBG)

Tata Consultancy (TCS IN)
- Co. reported 4Q net +51% y/y to INR 52.97bln vs. Exp. INR 52.4bln; sales +31% y/y to INR 215.5bln vs. Exp. INR 216.9bln. (BBG)

Bharti Airtel (BHARTI), Idea Cellular (IDEA), Reliance Communications (RCOM), Tata Teleservices (TTLS): Court to deliver verdict on government audit of telecoms today; KKR, Blackstone bid for 8% stake in Idea. (Business Standard)

Mindtree (MTCL IN)
- Co. reported 4Q net +24% y/y to INR 982mln vs. Exp. INR 950mln. (BBG)
- Co. is to give 1 free share for every 1 held. (BBG)
- Col is to pay INR 15 total dividend. (BBG)
- Co. has been raised to overweight vs neutral at HSBC; raised to outperform vs inline at Standard Chartered Bank.

Dhanuka Agritech (DAGRI IN)
- HDFC Midcap buys 899,200 shares at INR 231 per share. (BBG)

Oil India (OINL IN)
- Co. are said to plan bid for USD 2bln Murphy Malaysia Assets. (BBG)

Ashok Leyland (AL): Cut to sell vs buy at UBS; PT 20 rupees
Tata Global (TGBL): Rated new buy at Deutsche Bank

17 Apr 2014 - 04:34 - Equities - Source: RANsquawk

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