Check out the companies which will be in focus during trade today based on recent and latest news developments.
Tata Sponge Iron Ltd: The company is planning to enter the steel making business, with an investment of Rs. 2,200 crore. The company's Board has recently approved a proposal to go for forward integration of the sponge iron plant with facilities to manufacture 0.7 mtpa long products.
Cipla: The pharma company has posted a net profit after taxes, Minority Interest and Share of Profit/(Loss) of Associates of Rs. 431 crore for the quarter ended September 30, 2015 as compared to Rs. 298.7 crore for the quarter ended September 30, 2014.
Nila Infrastructures: The company has entered into an MOU with Department of Urban Development and Housing, Government of Rajasthan at Resurgent Rajasthan 2015 - Partnership Summit. Nila has signed the MOU of Rs. 400 Crore for construction of urban infrastructure projects including affordable houses under Affordable Housing Policy that allows private developers to get Transferable Development Rights (TDR).
Punjab National Bank: PNB wants to sell non-performing assets (NPA) to the asset reconstruction companies (ARCs) , as per media reports. The aim is to sell NPAs worth INR 1,000-1,500 crore in the third and fourth quarters of FY16, PNB ED Gauri Shankar told the newspaper on the sidelines of the State Level Bankers’ Committee Meeting in Chandigarh on Wednesday.
Tata Global Beverage: The company reported 24.77 per cent rise in consolidated net profit at Rs 77.92 crore for the second quarter ended September 30, 2015. Its net sales during the quarter under review stood at Rs 1,999.09 crore, up 1.76 per cent, compared to Rs 1,964.41 crore during the same period in the previous fiscal.
Polaris Consulting and Services Ltd: The company has entered into a definitive Share Purchase Agreement (SPA) with Virtusa Corporation whereby a subsidiary of Virtusa will acquire approximately 53% of the paid up share capital of Polaris from certain promoter entities led by Arun Jain and certain other shareholders, including OrbiTech Private Ltd (formerly known as Orbitech Limited)
Manpasand Beverages Ltd: The company plans to set up a new manufacturing plant at Ambala as part of the company’s expansion plans, as per media reports. The company currently has two manufacturing facilities at Vadodara in Gujarat, and one each at Varanasi in Uttar Pradesh and Dehradun in Uttarakhand.
GTL Infrastructure: The company reported net loss at Rs 167.83 crore for the quarter ended September 30, 2015. The company had reported a net loss of Rs 146.84 crore for the corresponding period last fiscal.The total income of the company also declined to Rs 156.81 crore for the reported period as compared to Rs 148.33 crore last year.
Torrent Pharmaceutical Ltd: The pharma company has announced the commencement of its 5th formulation plant in Dahej, Gujarat. This is company’s 2nd API plant. The facility is being set up in two phases and the company has invested over Rs. 650 crore for the first phase.
Trent: Tata group retail firm Trent Ltd reported a standalone net profit of Rs 13.43 crore for the quarter ended September 30, 2015.The company had posted a standalone net profit of Rs 11.43 crore in the July-September quarter last fiscal.
Ashok Leyland Ltd: The company has decided to write down Rs. 157 crore in its accounts as diminution in the value of investments made in the earthmoving equipment joint venture with John Deere.
Alembic: Alembic Ltd reported 43.2% rise in consolidated net profit at Rs.27.5 crore for the quarter ended September 30. The company's net profit in the corresponding quarter of the previous fiscal year was Rs.19.2 crore.
Cummins India: The company reported a 1.86 per cent decline in net profit at Rs 198.62 crore in the second quarter ended September 2015. The company had posted a net profit of Rs 202.40 crore in the same quarter last fiscal.Net sales during the period under review stood at Rs 1,166.86 crore as against Rs 1,117.13 crore in the year-ago period, up 4.45 per cent.
Mastek: The IT Commpany. posted a loss of Rs 0.6 crore for Q2 FY16 as against Rs. 1.5 crore net profit of Q1 FY16. Total income was Rs 188.8 crore during the quarter under review as compared to Rs 154.4 crore during the previous quarter, up 22.3 on Q-o-Q basis
Novartis India: The company said its net profit for the September quarter rose to Rs 103.82 crore as compared to Rs 14.04 crore a year ago.
Bajaj Electricals: The company reported its net profit of Rs. 11.26 crore for the quarter, against net loss of Rs. 14.21 crore for the same quarter in the previous year.
Future Retail: Future Retail reported a stand-alone net profit of Rs 13.66 crore for the second quarter ended September 30, 2015. The company had posted a net loss of Rs. 8.04 crore in the same quarter previous fiscal. Its net sales during the period under review stood at Rs 3,048.94 crore as against Rs 2,484.85 crore in the year-ago period, up 22.7 per cent.
Aban Offshore Ltd: The consolidated net profit stood at Rs.124.4 crore as compared to Rs.135.3 crore (qoq).
Kalpataru Power: The company reported 3.9 per cent drop in standalone net profit at Rs 41.02 crore for the quarter ended September 30, 2015.
Tata Motors, State Bank of India, Mahindra & Mahindra,RCOM, Bhel, Godrej Industries, ONGC, Aarti Drugs, Abbott India, Bank Of Baroda,Eicher Motors, Punjab National Bank, Essar Oil are some of companies which to announce their earnings today.
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