Check out the companies which will be in focus during trade today based on recent and latest news developments.
HCL Technologies: Two former Disney employees have filed separate lawsuits in a US court against Disney, HCL Tech and Cognizant, claiming that the companies replaced American employees with Indian workers, reports a business daily. HCL Technologies announced its acquisition of Point to Point Limited and Point to Point Products Limited (jointly referred as Point to Point or P2P).
Bharti Infratel: The company will announce its Q3 results today. According to IIFL estimates, the company’s net profit for Q3FY16 is likely be around Rs. 605.5 crore, a rise of 19.5 % on Y-o-Y basis and 4.5 % on Q-o-Q basis.
Bajaj Auto: Bajaj Auto is scheduled to launch a new motorcycle on 1st February that could be a new brand introduction by the Pune-based two-wheeler major, reports a business daily. The new brand could be called 'Bajaj V', according to a recent teaser video.
Reliance Power Ltd: Reliance Power Ltd. has written to the Andhra Pradesh government, seeking to exit the stalled 4,000 MW Ultra Mega Power Project (UMPP) in Krishnapatnam, reports a business daily.
Hinduja Foundries: Hinduja Foundries has announced that the Committee of Board of Directors at their meeting held on January 25, 2016 recommended to the Board of Directors to issue Global Depository Receipts (GDRs) to promoters, promoter group, group company(ies) and any other entity which is a subsidiary, associate of its parent, group companies or any other entity eligible to invest in GDR for an amount upto Rs.400 Crores.
Gujarat Fluorochemicals: The company has announced that Inox Wind Infrastructure Services Limited, a step down Subsidiary of Gujarat Fluorochemicals Limited, has acquired 100% of Equity Shares of Vinirrmaa Energy Generation Private Limited with effect from January 23.
IOC,BPCL,HPCL: Public sector oil firms IOC, BPCL, HPCL and EIL will invest Rs. 1.5 lakh crore in setting India's biggest refinery on the west coast, Oil Minister Dharmendra Pradhan reportedly said.
BEL: The company will announce its Q3 results today. IIFL expects net profit to plunge 7.4% to Rs. 252 crore yoy; however, Q3 net profit is expected to rise 21.7% qoq.
Persistent Systems Ltd: Persistent Systems Ltd. is targeting annual revenue of US$1 billion and will focus on acquisitions to achieve the same, reports a financial newspaper.
CONCOR: Container Corporation of India Ltd reported standalone net profit of Rs. 206.12 crore for the quarter ended December 31, 2015, registering decline of 31.53% yoy. The company’s standalone total income from operation of Rs. 1404.56 crore, declined by 3.25% yoy
United Spirits: United Spirits will announce its Q3 results today.According to IIFL estimates, the company’s net profit for Q3FY16 is likely be around Rs. 173.9 crore, a rise of 132.9 % on Y-o-Y basis while 81.3 % decline on Q-o-Q basis.
HDFC: Housing Development Finance Corporation Ltd will announce its Q3 results today.IIFL expects net profit to rise 15.4% to Rs.1,746.10 crore yoy and 8.8% qoq.
Tata Power: Tata Power announced termination of a share purchase agreement (SPA) with Ideal Energy Projects Limited (IEPL) for acquisition of 100% stake in a 270 MW coal based thermal power project in Maharashtra, extendable to 540 MW.
Kajaria Ceramics: The company will announce its Q3 results today.IIFL expects net profit to rise 63.8% to Rs. 74.70 crore yoy and 27.2% qoq.
RCOM: Reliance Communications has increased capital expenditure outlook by Rs. 1,000 crore to Rs. 4,000 crore for the financial year ending on March 31, according to reports.
Power Grid: Power Grid will announce its Q3 results today.IIFL forecasts the company’s net revenue for Q3 FY16 to rise to Rs. 5,195 crore, growing at a rate of 19.3% yoy and 5.6% qoq.
Reliance Capital: Reliance Capital Ltd announced that it has acquired more than 5% voting rights in Radiant Hues CRM Solutions.
Kirloskar Oil Engines: Kirloskar Oil Engines, leading auto parts and equipments company, will announce its Q3 results today. According to IIFL estimates, the company’s net profit for Q3FY16 is likely be around Rs. 29.8 crore, a decline of 12.6 % on Y-o-Y basis and 16.6 % on Q-o-Q basis.
HCL Infosystems: The net loss for the quarter stands at Rs. 65.7 crore as against loss of Rs.49.2 crore (YoY). The consolidated net sales stands at Rs. 1146.6 crore as against Rs. 1470.6 crore (YoY).
HT Media: HT Media, leading media and publishing company, will announce its financial results for the quarter ended December 2015 today. HT Media is likely to witness higher ad revenue growth backed by increase in corporate spending due to festive season. According to IIFL estimates, the company’s net profit for Q3FY16 is likely be around Rs. 53.0 crore, a decline of 28.3 % on Y-o-Y basis and 10.4 % rise on Q-o-Q basis.
Nilkamal: Nilkamal, home furniture manufacturer in India, reported standalone net profit of Rs. 20.19 crore for the quarter ended December 31, 2015, registering over two folds jump yoy but decline of 21.56% qoq. The company’s revenue stood at Rs. 428.42 crore, witnessing growth of 1.76% yoy.
Veto Switchgears:The company has bagged additional order worth Rs. 40 crore from dealers conference, Rajasthan.
Subros: Subros, manufacturer of air-conditioner systems and thermal products, reported standalone net profit of Rs. 6.01 crore, registering growth of 55.7% yoy but decline of 2.12% qoq.
Mcleod Russel India: Mcleod Russel India, world's largest tea planter, reported standalone net profit of Rs. 56.98 crore for the quarter ended December 31,2015, registering decline of 29.15% yoy and 73.67% qoq.
MRF: The net profit for the quarter stands at Rs. 388 crores.The company's EBITDA Margin at 22.6% as against 19.2% (YoY).
Kansai Nerolac Paints: The company's total income has increased by 8.7% at Rs. 965 crore for the quarter against Rs.887 crore in the corresponding quarter of the previous year.
HDFC Bank: The bank reported standalone net profit of Rs. 3,356.84 crore for the quarter ended December 31, 2015, registering growth of 20.12% yoy. The bank’s Net Interest Margin stood at 4.3% for the quarter.
Eveready Industries: The company recorded a rise of 10.8% in its net profit at Rs. 17 crore for the quarter ended December 31, 2015 as compared to Rs.15.3 crore for the quarter ended December 31, 2014.
Blue Star Limited: The company has announced the launch of a stylish range of airconditioners comprising a wide array of highly energy-efficient as well as eco-friendly split airconditioners for the residential and commercial segments.
Swaraj Engines: Swaraj Engines, Hi-tech engine components manufacturer, reported standalone net profit of Rs. 8.36 crore for the quarter ended December 31,2015, registering marginal growth of 0.96% yoy. The Company’s standalone revenue stood at Rs. 105.59 crore, witnessing growth of 3.48% yoy.
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