YES Bank: The Reserve Bank of India notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 49 per cent up to 60 per cent of the paid up capital of Yes Bank under the Portfolio Investment Scheme (PIS).
BPCL, HPCL, IOC: Petrol price was hiked by Rs.1.06 per litre while diesel rate was increased by Rs.2.94 per litre.
Axis Bank: FIPB cleared Rs.13,030 crore worth of foreign direct investment proposals, including that of hiking foreign investment limit in Axis Bank.
Lupin: Lupin is looking to strengthen its branded and specialty business in the US by launching new products, brand acquisitions and even buyout of other specialty companies that compliment its therapy focus, reports a financial newspaper.
Tata Power: Tata Power is all set to acquire the renewable energy assets of the diversified Welspun Group, reports a financial newspaper.
HDFC: The company will announce its Q4 numbers today. IIFL estimates that the company’s net profit is likely to tumble to Rs. 1,755 crore, at a rate of 11% yoy; however, the same is expected to surge 15% qoq.
Suzlon: Suzlon Energy said its step-down subsidiary in the Netherlands, AE-Rotor Holding BV (AERH), had repaid $590.4 million to bondholders on 29 April and also arranged a credit facility of equivalent amount.
SBI: The Government will ask State Bank of India (SBI) to actively consider merging its five associate banks, reports a business daily. The Centre is looking to push consolidation among state-owned banks and has set up a committee to identify candidates for mergers and acquisitions (M&A), says the financial newspaper.
Atul: Atul reported standalone net profit of Rs. 62.61 crore for the quarter ended March 31, 2016, registering growth of 39.57% yoy and 2.74% qoq.
ITC Ltd: ITC will invest Rs. 345 crore in Andhra Pradesh's Guntur district, reports a business daily. The company is making Guntur the headquarters of its agribusiness division, which earns annual revenue of Rs. 8,000 crore, says the financial newspaper.
Federal Bank: Federal Bank, major commercial bank, reported standalone net profit of Rs.10.26 crore for the quarter ended March 31, 2016, registering decline of 96.34% yoy and 93.69% qoq.
Skipper Ltd: The company was favourably placed for contracts worth Rs.300 crore with Power Grid Corporation of India Ltd.Out of the above the Company has already secured contracts worth Rs. 135 crore and for the balance the company is expecting confirmation.
State Bank of Hyderabad: The bank reported a 43% drop in net profit at Rs.253 crore for the fourth quarter ended March 2016. Total income for the reporting quarter declined to Rs.3,907 crore, from Rs.4,145 crore in the year-ago period
Ultratech Cement ACC, Ambuja Cements: The country’s top three cement producers - Ultratech Cement ACC and Ambuja Cements - are expecting a revival in cement demand during the current financial year, reports a business daily.
TVS Motor, Ruchi Soya, Page Inds: The Karnataka government’s state-level single window clearance committee (SLSWCC) has cleared TVS Motor Company’s INR 310-crore proposal to expand its Mysuru facility, reports a business daily.
InterGlobe Aviation: Indigo Airlines posted a net profit of Rs. 579.3 crore for the fourth quarter ended 31st March, 2016.
Infosys: Infosys Foundation USA announced its CS for All community giving model, a new private-public-community collaboration that builds on partnerships with the National Science Foundation (NSF) and DonorsChoose.org to provide as many as 2,000 teachers with computer science professional development.
IDFC: IDFC posted a net profit of Rs. 48 mn for the quarter ended March 31, 2016 where as the same was at Rs. 3654.70 million for the quarter ended March 31, 2015
Wipro: India's largest mobile payments company Paytm has partnered with Wipro Ltd to create the requisite technology infrastructure for its upcoming payments bank business, reports a business daily.
Marico: The company’s consolidated revenue stood at Rs. 1,307.02 crore, up 6.59% yoy but down 16.02% qoq.
Gujarat Heavy Chemicals Ltd: Gujarat Heavy Chemicals Ltd (GHCL) plans to launch a slew of FMCG brands under the brand name of i-Flo, including a diabetic-friendly salt and table dispensers, reports a business daily.
BPCL, HPCL, IOC: Petrol price was hiked by Rs.1.06 per litre while diesel rate was increased by Rs.2.94 per litre.
Axis Bank: FIPB cleared Rs.13,030 crore worth of foreign direct investment proposals, including that of hiking foreign investment limit in Axis Bank.
Lupin: Lupin is looking to strengthen its branded and specialty business in the US by launching new products, brand acquisitions and even buyout of other specialty companies that compliment its therapy focus, reports a financial newspaper.
Tata Power: Tata Power is all set to acquire the renewable energy assets of the diversified Welspun Group, reports a financial newspaper.
HDFC: The company will announce its Q4 numbers today. IIFL estimates that the company’s net profit is likely to tumble to Rs. 1,755 crore, at a rate of 11% yoy; however, the same is expected to surge 15% qoq.
Suzlon: Suzlon Energy said its step-down subsidiary in the Netherlands, AE-Rotor Holding BV (AERH), had repaid $590.4 million to bondholders on 29 April and also arranged a credit facility of equivalent amount.
SBI: The Government will ask State Bank of India (SBI) to actively consider merging its five associate banks, reports a business daily. The Centre is looking to push consolidation among state-owned banks and has set up a committee to identify candidates for mergers and acquisitions (M&A), says the financial newspaper.
Atul: Atul reported standalone net profit of Rs. 62.61 crore for the quarter ended March 31, 2016, registering growth of 39.57% yoy and 2.74% qoq.
ITC Ltd: ITC will invest Rs. 345 crore in Andhra Pradesh's Guntur district, reports a business daily. The company is making Guntur the headquarters of its agribusiness division, which earns annual revenue of Rs. 8,000 crore, says the financial newspaper.
Federal Bank: Federal Bank, major commercial bank, reported standalone net profit of Rs.10.26 crore for the quarter ended March 31, 2016, registering decline of 96.34% yoy and 93.69% qoq.
Skipper Ltd: The company was favourably placed for contracts worth Rs.300 crore with Power Grid Corporation of India Ltd.Out of the above the Company has already secured contracts worth Rs. 135 crore and for the balance the company is expecting confirmation.
State Bank of Hyderabad: The bank reported a 43% drop in net profit at Rs.253 crore for the fourth quarter ended March 2016. Total income for the reporting quarter declined to Rs.3,907 crore, from Rs.4,145 crore in the year-ago period
Ultratech Cement ACC, Ambuja Cements: The country’s top three cement producers - Ultratech Cement ACC and Ambuja Cements - are expecting a revival in cement demand during the current financial year, reports a business daily.
TVS Motor, Ruchi Soya, Page Inds: The Karnataka government’s state-level single window clearance committee (SLSWCC) has cleared TVS Motor Company’s INR 310-crore proposal to expand its Mysuru facility, reports a business daily.
InterGlobe Aviation: Indigo Airlines posted a net profit of Rs. 579.3 crore for the fourth quarter ended 31st March, 2016.
Infosys: Infosys Foundation USA announced its CS for All community giving model, a new private-public-community collaboration that builds on partnerships with the National Science Foundation (NSF) and DonorsChoose.org to provide as many as 2,000 teachers with computer science professional development.
IDFC: IDFC posted a net profit of Rs. 48 mn for the quarter ended March 31, 2016 where as the same was at Rs. 3654.70 million for the quarter ended March 31, 2015
Wipro: India's largest mobile payments company Paytm has partnered with Wipro Ltd to create the requisite technology infrastructure for its upcoming payments bank business, reports a business daily.
Marico: The company’s consolidated revenue stood at Rs. 1,307.02 crore, up 6.59% yoy but down 16.02% qoq.
Gujarat Heavy Chemicals Ltd: Gujarat Heavy Chemicals Ltd (GHCL) plans to launch a slew of FMCG brands under the brand name of i-Flo, including a diabetic-friendly salt and table dispensers, reports a business daily.
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