Infosys Q3 consolidated net profit up 13%; $ Revenue In-line
IT major Infosys announced the following Audited results for the quarter ended December 31, 2014 (YoY): Standalone Results: Net Profit of the Company rose by 11.70% to Rs3055.00 crore Vs Rs2735.00 crore (YoY). Total Income increased by 6.31% to Rs13015.00 crore Vs Rs12242.00 crore (YoY).Consolidated Results: Net Profit rose by 13.04% to Rs3250.00 crore Vs Rs2875.00 crore (YoY).Total Income increased by 6.38% to Rs14636.00 crore Vs Rs13757.00 crore (YoY).Infosys Q3: Results in line with estimates; Strong Volume Growth of 4.2% (QoQ) and Retaining of growth guidance surprise positively.
JSPL drops 3% on CBI allegations
Shares of Jindal Steel and Power shed 3% to Rs153 on NSE. CBI has found the company to have connived with the coal ministry officials to “illegally” mine nearly three times more coal than permitted. The agency, which has incorporated these details in the First Information Report ( FIR) filed in the Gare Palma block case in Chhattisgarh, has said the ministry officials in connivance with the company not only overlooked the excess mining but also regularised it.
BHEL commissions 600MW thermal unit in Chhattisgarh
Bharat Heavy Electricals ( BHEL) has announced the successful commissioning of one more 600 MW thermal unit in Chhattisgarh. The unit was commissioned at Jindal Power's upcoming 4x600 MW thermal power project located at Tamnar in Raigarh district of Chhattisgarh. This is the third 600 MW unit of the project to be commissioned by BHEL. The first two units of 600 MW each were commissioned in March 2014. With this commissioning, BHEL has added 3,500 MW in the state of Chhattisgarh in 2014 alone.
HUL marks historic high in volatile markets
Shares of fast moving consumer goods ( FMCG) company Hindustan Lever (HUL) traded higher by over 4% at Rs849, extending its past four day’s gain on BSE, after Deutsche Bank upgraded the stock to buy with a target price of Rs900 per share. The stock is currently trading at its historical high price and surging 11% in past one week from Rs756 on January 2, 2015 on BSE. It recorded a sharpest weekly gain since July 13, when the stock rallied 14% in single week.HUL is witnessing early signs of uptick in consumer demand across rural and urban India in the past 2/3 months,
Moody's upgrade Tata Steel's ratings; stk up
Tata Steel rose over 2% touching to Rs404.9, after Moody's yesterday, (January 08, 2015), upgraded its rating on the company from Ba2 to Ba1 with a stable outlook.
The upgrade of Tata Steel's rating reflects the group-wide refinancing and the improved liquidity which will support further growth of its highly profitable Indian operations,
NBCC surges on winning Rs1237 crore orders
Shares of National Buildings Construction Corporation ( NBCC) surge over 4% to hit day’s high of Rs847.50 on NSE as the company has got an order worth Rs1237 crore from Odisha to build rural roads – Positive
Can Fin Homes marks fresh high ahead of board meet
Shares of housing finance company Can Fin Homes surged over 6% to Rs621 on the NSE ahead of the board meeting for rights issue on Monday, January 12, 2015.
The board of directors of the Can Fin Homes is schedule to meet on January 12, 2015, to consider the size of the rights issue, rights issue ratio, price, record date and other matters relating to the proposed issue of equity shares of the company on rights basis. The company proposed to raise up to Rs 300 crore through rights issue.
Banks to get commission from govt for DBT
The finance ministry has agreed to banks’ long-standing demand for commission for Direct Benefits Transfer (DBT) transactions. The move will boost lenders’ fee income and make account opening, under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) viable. This is mainly positive for PSU Banks as they have maximum presence in rural areas.
Wockhardt management expects full clearance of Chikalthana facility
The management of Wockhardt is expecting full supplies to UK market in next 2-3 months, as its Chikalthana units is likely to get clearance from European drug regulator. The UK drug regulator has eased restrictions on Wockhardt's drug unit at Chikalthana, near Aurangabad, but a full approval to the facility is yet to come. The British drug regulator withdrew its quality certification to the Chikalthana plant in 2013 after it identified deviations in the facility. Wockhardt is facing regulatory hurdles with both USFDA and UK MHRA.
Spice Jet soars 10% on fund infusion plan
Shares of Spice Jet locked in upper circuit of 10% at Rs18.30 on BSE with no sellers on the counter on reports that the company has informed the civil aviation ministry that it will raise the first tranche of funds by January 10.Spice Jet's former director Ajay Singh along with two US-based private equity investors are in discussions to invest in the airline.
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