Idea Cellular in focus after Q4 earnings

Idea Cellular reported consolidated net loss of Rs 327.70 crore in Q4 March 2017, compared with net profit of Rs 451.70 crore in Q4 March 2016. Revenue from operations declined 14.26% to Rs 8126.10 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Saturday, 13 May 2017.

Among prominent companies, Bata India and Colgate-Palmolive (India) are scheduled to release March quarter earnings today, 15 May 2017.

Hero MotoCorp issued clarification to the stock exchanges with regard to its recent announcement of change in its statutory auditors. The company had announced on 10 May 2017 regarding the appointment of BSR & Co. LLP, as statutory auditors in place of existing auditors Deloitte Haskins & Sells, subject to approval of shareholders at the ensuing annual general meeting (AGM).

With regard to the aforesaid announcement, Hero MotoCorp submitted further details of audit firm BSR & Co. LLP viz. the firm's registration number, registered office and information like other affiliates to the firm. The announcement was made after market hours on Friday, 12 May 2017.

Corporation Bank announced its tenor based marginal cost of funds based lending rate (MCLR) for all new rupee loans and advances including renewals with effect from 15 May 2017. The bank's MCLR for overnight loans will be 8.2%, for one month will be 8.2% and for three months will be 8.3%. The MCLR on 6-month loans will be 8.65% and for one-year loans the rate would be 8.75%, the bank said. The announcement was made after market hours on Friday, 12 May 2017.

Sical Logistics' board of directors at its meeting held on 12 May 2017, approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 crore and to execute necessary agreements to proceed further in this regard.

The board also approved the proposal to initiate the process to acquire majority stake in a company in the warehousing and distribution business with annual revenue of Rs 20 crore and to execute necessary agreements to proceed further in this regard. The announcement was made after market hours on Friday, 12 May 2017.

NBCC (India) said it has secured the total business of Rs 315.24 crore in the month of April 2017. The announcement was made after market hours on Friday, 12 May 2017.

Tata Metaliks announced the time schedules for shutdown of units at its plant. The MBF#2 unit will be shut from 15 May to 27 May 2017. The Sinter Plant unit will remain closed from 22 May to 25 May 2017. The CPP3 unit will be closed from 24 May to 25 May 2017. The CPP2 unit will be shut from 15 May to 23 May 2017. The announcement was made at the fag end of market hours on Friday, 12 May 2017.

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