TOP CORPORATE NEWS-24 january

TOP CORPORATE NEWS

·        Cairn India slips after weak Q3 results

Cairn India fell 0.11% after the company's consolidated profit after tax fell 14% to Rs 2884 crore on 17% growth in revenue to Rs 5000 crore in Q3 December 2013 over Q3 December 2012.

·        Ranbaxy Laboratories stock slips 16% on USFDA ban

Shares of Ranbaxy Laboratories hit 16% lower circuit at Rs348 after FDA prohibited Ranbaxy’s Toansa, India facility from producing and distributing drugs for the U.S. market. The Toansa facility is now subject to certain terms of a consent decree of permanent injunction entered against Ranbaxy in January 2012.

·        Bajaj Finance plans to raise Rs 2,500 Cr

Bajaj Finance is targeting to raise Rs25bn through a fixed deposit scheme in the next three years to strengthen its nascent wealth management business.

·        L&T Finance Holdings Q3 net profit at Rs1096.887 mn

L&T Finance Holdings Ltd has posted a net profit of Rs. 1096.887 mn for the quarter ended December 31, 2013 compared to Rs. 2946.264 mn for the quarter ended December 31, 2012.Total Income is Rs. 13152.373 mn for the quarter ended December 31, 2013 compared to Rs. 9930.513 mn for the quarter ended December 31, 2012.

·        Mastek Q3FY14 total Income at Rs. 242 crore

Mastek’s operating revenue was Rs 240.2 crore during the quarter under review as compared to Rs 236.7 crore during the sequential previous quarter. Total income was Rs 242.4 crore during the quarter under review as compared to Rs 238.5 crore during the sequential previous quarter, up 1.6% on QoQ basis.