Check out the companies which will be in focus during trade today based on recent and latest news developments.
Bharti Airtel: The telecom company said its Netherlands-based subsidiary has signed a definitive agreement to sell-and-leaseback about 950 telecommunications towers in the Democratic Republic of Congo to Helios Tower Africa. Gopal Vittal, CEO for India and South Asia, said he expects the Reliance Industries unit to make a "forceful launch", but show "semblance of rationality" in pricing its services.
Hero MotoCorp: Hero MotoCorp reported standalone net profit of Rs. 814.16 crore for the quarter ended March 31, 2016, registering growth of 70.85% yoy and 2.31% qoq.
Wockhardt: Wockhardt Ltd, one of the leading drug makers in India, will announce its Q4 result today. IIFL estimates that the company’s net profit is likely to rise to Rs. 38 crore at 16.5% yoy and; however, the same is expected to fall 27.5% qoq.
Yes Bank: Yes Bank has been granted an in-principle approval by Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities.
MRPL: Mangalore Refinery & Petrochemicals Ltd (MRPL) has started to shut down the refinery’s phase-III units following acute water scarcity, reports a business daily.
ITC: ITC Ltd has announced that the Supreme Court on May 4, 2016 passed an Order transferring to the Karnataka High Court all writ petitions pending in various Courts challenging the Rules prescribing 85% pictorial warnings on packages of tobacco products.
Jindal Steel & Power Ltd: JSPL will sell certain steel and mining assets and will expand its power business portfolio into renewable energy and transmission and distribution (T&D), CEO Ravi Uppal has been quoted as saying by a business daily.
Eicher Motors: The company’s consolidated revenue stood at Rs. 3,764.87 crore, up 46.61% yoy and 13.52% qoq. Royal Enfield is planning to invest Rs. 600 crore, according to reports.
Aarti Drugs: Aarti Drugs Ltd reported a consolidated net profit of Rs.18.6 crore as against Rs.17 crore in the same period last year.
Raymond Ltd: Raymond Ltd is reducing its capital expenditure from INR 300 crore in FY16 to INR 250 crore in the current fiscal year, reports a business daily.
Emami: The company’s consolidated revenue stood at Rs. 670.77 crore, up 21.15% yoy but down 14.93% qoq.
Godrej Consumer Products: Godrej Consumer Products has announced that it has completed the acquisition of 75% equity stake in Canon Chemicals Limited.
NMDC Ltd: NMDC Ltd has partnered with Indian Space Research Organisation (ISRO) to make use of satellite-based geological mapping capability for mineral exploration, reports a business daily.
Infosys: The government has approved proposal of Infosys to set up an IT/ITeS special economic zone in Bengaluru in an area spread over 4 hectares, according to reports.
Indiabulls Housing Finance: Indiabulls Housing Finance has announced that the Company proposes to issue 500 Secured Non-Convertible Redeemable Debentures with a face value of Rs. 10 lakh each aggregating to Rs. 50 Crores plus Greenshoe Option, on Private Placement basis.
Procter &Gamble: Procter & Gamble Hygiene and Health Care Ltd posted a net profit of Rs. 973.00 mn for the quarter ended March 31, 2016 as compared to Rs. 868.90 mn for the quarter ended March 31, 2015.
Larsen & Toubro: Larsen & Toubro Infotech (L&T Infotech), IT services & solutions companies and a subsidiary of Larsen & Toubro, signed a multi-year contract with Elkjøp Nordic AS to provide end-to-end Infrastructure Management and Datacenter services.
Hero MotoCorp: Hero MotoCorp reported standalone net profit of Rs. 814.16 crore for the quarter ended March 31, 2016, registering growth of 70.85% yoy and 2.31% qoq.
Wockhardt: Wockhardt Ltd, one of the leading drug makers in India, will announce its Q4 result today. IIFL estimates that the company’s net profit is likely to rise to Rs. 38 crore at 16.5% yoy and; however, the same is expected to fall 27.5% qoq.
Yes Bank: Yes Bank has been granted an in-principle approval by Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities.
MRPL: Mangalore Refinery & Petrochemicals Ltd (MRPL) has started to shut down the refinery’s phase-III units following acute water scarcity, reports a business daily.
ITC: ITC Ltd has announced that the Supreme Court on May 4, 2016 passed an Order transferring to the Karnataka High Court all writ petitions pending in various Courts challenging the Rules prescribing 85% pictorial warnings on packages of tobacco products.
Jindal Steel & Power Ltd: JSPL will sell certain steel and mining assets and will expand its power business portfolio into renewable energy and transmission and distribution (T&D), CEO Ravi Uppal has been quoted as saying by a business daily.
Eicher Motors: The company’s consolidated revenue stood at Rs. 3,764.87 crore, up 46.61% yoy and 13.52% qoq. Royal Enfield is planning to invest Rs. 600 crore, according to reports.
Aarti Drugs: Aarti Drugs Ltd reported a consolidated net profit of Rs.18.6 crore as against Rs.17 crore in the same period last year.
Raymond Ltd: Raymond Ltd is reducing its capital expenditure from INR 300 crore in FY16 to INR 250 crore in the current fiscal year, reports a business daily.
Emami: The company’s consolidated revenue stood at Rs. 670.77 crore, up 21.15% yoy but down 14.93% qoq.
Godrej Consumer Products: Godrej Consumer Products has announced that it has completed the acquisition of 75% equity stake in Canon Chemicals Limited.
NMDC Ltd: NMDC Ltd has partnered with Indian Space Research Organisation (ISRO) to make use of satellite-based geological mapping capability for mineral exploration, reports a business daily.
Infosys: The government has approved proposal of Infosys to set up an IT/ITeS special economic zone in Bengaluru in an area spread over 4 hectares, according to reports.
Indiabulls Housing Finance: Indiabulls Housing Finance has announced that the Company proposes to issue 500 Secured Non-Convertible Redeemable Debentures with a face value of Rs. 10 lakh each aggregating to Rs. 50 Crores plus Greenshoe Option, on Private Placement basis.
Procter &Gamble: Procter & Gamble Hygiene and Health Care Ltd posted a net profit of Rs. 973.00 mn for the quarter ended March 31, 2016 as compared to Rs. 868.90 mn for the quarter ended March 31, 2015.
Larsen & Toubro: Larsen & Toubro Infotech (L&T Infotech), IT services & solutions companies and a subsidiary of Larsen & Toubro, signed a multi-year contract with Elkjøp Nordic AS to provide end-to-end Infrastructure Management and Datacenter services.
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