Ambuja Cements, ZEE in focus after declaring June 2017 quarterly results

Ambuja Cements' consolidated net profit rose 11.9% to Rs 718.24 on 14.7% increase in net sales to Rs 6145.33 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Ambuja Cements said that the Government's focus on infrastructure, backed by a good monsoon, should help in spurring economic growth in the second half of the year. The company said it was well prepared for the implementation of the new Goods and Services Tax (GST) with effect from 1 July 2017. The resulting simplification of the tax structure will make it easier to do business and benefit the overall economy in the long run.

Zee Entertainment Enterprises' (ZEE) consolidated net profit rose 15.9% to Rs 251.44 crore on 2% decline in net sales to Rs 1540.25 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Bharti Infratel's consolidated net profit fell 12.2% to Rs 663.90 crore on 9.7% increase in net sales to Rs 1593.40 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Indiabulls Housing Finance's consolidated net profit rose 25.1% to Rs 788.22 crore on 24.2% growth in total income to Rs 3225.02 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Among prominent earnings, Asian Paints, Axis Bank, Bharti Airtel and Hero MotoCorp are scheduled to announce April-June 2017 quarter results today, 25 July 2017.

On a consolidated basis, Mahindra & Mahindra Financial Services' profit after tax (PAT) and minority interest declined by 46% to Rs 58 crore on 19% increase in total income to Rs 1886 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

The company, with effect from quarter ended 30 June 2016, had started considering the estimated realisable value of underlying security (which conforms to the RBI norms) for loan assets to determine 100% provisioning for assets which were 24 months overdue which had resulted in lower provision of Rs 193 crore in Q1 June 2016 and Rs 83 crores in the year ended March 2017 with a consequent impact on the profit before tax. In Q1 June 2017, the company has made additional provision of Rs 83 crore against the above mentioned 100% provision cases.

During this quarter, the company's customer base has crossed 4.8 million customers. The company currently has a network of 1,183 offices and the total assets under management (AUM) of Rs 47576 crore as on 30 June 2017, as against Rs 41662 crore as on 30 June 2016, a growth of 14%.

Shares of Salasar Techno Engineering will be listed and admitted to dealings today, 25 July 2017 on the BSE in 'T' group. The initial public offer (IPO) of Salasar Techno Engineering received bids for 90.67 crore shares, NSE data showed. The IPO was subscribed 273.05 times. The IPO opened for bidding on 12 July 2017 and closed on 17 July 2017. The IPO price was fixed at Rs 108 per share.

Just Dial's board of directors considered and approved the proposal to buyback shares from its shareholders/beneficial owners other than those who are promoters, members of the promoter group and persons in control, from the open market through stock exchanges mechanism for a total amount not exceeding Rs 83.91 crore, and at a price not exceeding Rs 700 per share. The maximum buyback size represents 9.998% of the aggregate of the company's share capital and free reserves based on the standalone audited financial statements of the company as at 31 March 2017. The announcement was made after market hours yesterday, 24 July 2017.

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