Check out the companies which will be in focus during trade today based on recent and latest news developments.
HDFC Bank: The bank will announce its Q3 results today. IIFL expects the bank’s net profit to surge 20% to Rs. 3,353.50 crore yoy and 16.9% qoq.Cairn India, Vedanta: The proposed merger of Cairn India with Vedanta will get delayed by at least a quarter, according to analyst conference call hosted by Cairn India on Friday post its Q3FY16 results.
KEI Industries Ltd: The company recorded increase of 66.3% in its net profit at Rs.14.8 crore for the quarter ended December 31 as compared to Rs.8.9 crore for the quarter ended December 31, 2014. The company’s revenue stood at Rs. 559.2 crore, witnessing growth of 12.13% yoy.
Electrosteel Steels: Lenders to Electrosteel Steels Ltd. have shortlisted two bidders for a controlling stake sale and are likely to choose the buyer by the end of January, reports a financial newspaper.
Persistent Systems: The company’s revenue stood at Rs. 592 crore, clocking growth of 9.08% qoq and 19.69% yoy. The company's total income has increased by 9% at Rs.592 crore for the quarter against Rs.542.7 crore in the corresponding quarter of the previous year.
ONGC, RIL: The Government has employed the services of S. Rath, former Director (Operations) of Oil India Ltd. (OIL), to assist Justice A.P. Shah Panel in understanding the finer technical nuances in the dispute between ONGC and Reliance Industries Ltd (RIL), reports a business daily.
Force Motors: The company recorded a rise of 174% in its net profit at Rs.27.4 crore for the quarter ended December 31, 2015 as compared to Rs.10 crore in the same period last year. During the quarter under review, EBITDA were at Rs.47 crore compared with Rs.15 crore.
ONGC: Standard & Poor's Ratings Services affirmed its long-term corporate credit rating on Oil and Natural Gas Corp. Ltd. (ONGC) at 'BBB-'. The outlook is stable.
Spicejet Ltd: SpiceJet posted a net profit of Rs238.39 crore in the quarter, against a net loss of Rs. 275.02 crore in the year-ago period.
Cairn India: The net profit for the quarter stands at Rs. 8.7 crore as against Rs. 1350 Crore (YoY). The company's net revenue for the December quarter declined 42% year-on-year to Rs. 2,039 crore primarily due to sharp decline of 13% in crude prices.
Reliance Communications:The company posted decline of 15% in PAT of Rs. 171 crore for the quarter ended December 31, 2015 as compared to Rs. 201 crore for the quarter ended December 31, 2014. It's core operating profit of Rs. 1,782 crore for the quarter, registering decline of 1.92% yoy but marginal growth of 1.77% qoq.
ITC Ltd: The Company posted a net profit of Rs. 26528.20 million for the quarter ended December 31, 2015 as compared to Rs. 26350.00 mn for the quarter ended December 31, 2014.
Tata Power: Tata Power Ltd has announced termination of share purchase agreement with Ideal Energy Projects Ltd for acquisition of coal based thermal power project in Maharashtra.
Idea Cellular: Idea Cellular proposes to roll out 4G LTE network in 750 towns under 10 circles by June this year, according to top company officials.
SeQuent Scientific:The pharmaceutical company announced that it is acquiring a controlling stake in Indo Phyto Chemicals (IPC), a New Delhi based pharma company, focused on female healthcare.
Can Fin Homes: The company reported a rise of 62.2% in its net profit at Rs.42.18 crore for the quarter ended December 31, 2015 as compared to Rs. 26 crore for the quarter ended December 31, 2014.
Mahindra Holidays & Resorts India: The company reported standalone net profit of Rs. 31.26 crore, registering growth of 33.25% yoy. It’s core operating profit of Rs. 60.42 crore grew 28.53% yoy and 6.5% qoq.
Ashoka Buildcon: The company has reported a consolidated total income from operations of Rs. 603.87 crore and a net profit of Rs. 13.26 crore for the quarter ended Dec 2015.
Rallis India: Rallis India plans to improve working capital by focusing on trade receivables and cutting cost, Managing Director V. Shankar has been quoted as saying by a business daily.
Finolex Industries: Finolex Industries plans to invest Rs 100 crore in adding 1,00,000 tonnes of pipes capacity over the next three years as per media reports.
Atul: The company has posted a net profit of Rs. 61 crore for the quarter ended December 31, 2015 as compared to Rs. 53.7 crore for the quarter ended December 31, 2014.
Lakshmi Vilas Bank:The bank recorded a rise of 41.5% in its net profit at Rs.46 crore for the quarter ended December 31, 2015 as compared to Rs. 32.5 crore for the quarter ended December 31, 2014. The Bank’s standalone NII stood at Rs. 167.07 crore, clocking growth of 21.49% yoy and 4.21% qoq.
Adani Power Ltd:Adani Power received shareholders' approval to convert debt or parts those of up to Rs 35,000 crore into fully paid up equity shares of the company.
Torrent, Dr Reddy’s, Aurobindo, Cipla: Five Indian drug companies — Torrent Pharmaceuticals, Dr Reddy's Laboratories, Aurobindo Pharma, Cipla and Lupin — are in talks to bid for Sagent Pharmaceuticals, according to reports. Sun Pharmaceutical Industries was interested and also initiated the due diligence process, but then postpone the bid due to valuation.
Kwality: The company recorded a rise of 3.5% in its net profit at Rs. 37.4 crore for the quarter ended December 31, 2015 as compared to Rs. 36.12 crore in the same period last year.
Supreme Petrochem: The company reported its Q3 net profit stood at Rs.26.4 crore.The total income was at Rs. 609.3 crore as against Rs. 613.9 (YoY).
Shemaroo Entertainment: The company reported consolidated net profit of Rs. 12.82 crore, registering growth of 27.94% yoy. The company’s revenue stood at Rs. 101 crore, witnessing growth of 15.72% yoy.
Siemens: The company won a crucial order worth approximately Rs.112 crore from Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL), a state power transmission utility owned by the Rajasthan government and headquartered in Jaipur.
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