Idea Cellular may be in demand on good Q4 result

Idea Cellular's consolidated net profit surged 91.37% to Rs 589.77 crore on 16.21% increase in total income to Rs 7043.82 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Monday, 28 April 2014.

On a consolidated basis, Idea Cellular's net profit surged 94.65% to Rs 1967.82 crore on 18.08% increase in total income to Rs 26518.91 crore in the year ended March 2014 over the year ended March 2013.

Bharti Airtel, Jindal Steel & Power and Sesa Sterlite will unveil their Q4 results today, 29 April 2014.

Infosys announced that Ms. Ann Fudge, Independent Director who is scheduled to complete her term on the lnfosys board on 14 June 2014, has conveyed her intention not to seek re-appointment owing to her busy schedule.

Currently, the Infosys board has seven Independent Directors and six Executive Directors. The lnfosys board has also recently announced the appointment of Ms. Carol M. Browner, Distinguished Senior Fellow at the Center for American Progress and Counselor to the Albright Stonebridge Group, as an Additional Director of the Company. Her appointment shall be effective on the date Ms. Browner receives her Director Identification Number from the Ministry of Corporate Affairs.

Said Ms. Fudge, "Due to increasing time commitments on other Boards, I have decided not to seek re-appointment on the Infosys Board. With the addition of new Board Members and a solid succession plan in place, I know the company is well-positioned for success."

Said Mr. N.R. Narayana Murthy, Executive Chairman, "I thank Ann for her seminal contribution to Infosys. The Board will miss Ann's wisdom, insight and analysis. We wish her all the best for the future".

GMR Infrastructure said that due to various business reasons its subsidiary, GMR Energy, has withdrawn the draft red herring prospectus (DRHP) for initial public offering (IPO) on 28 April 2014. GMR Energy had filed the DRHP with the Securities and Exchange Board of India (Sebi) on 28 March 2014.

Gujarat Gas Company said that Petroleum and Natural Gas Regulatory Board (PNGRB) has granted to Gujarat Gas Company, an extension of exclusivity for a block often years to lay, build and expand the city gas distribution (CGD) network in the authorised geographical area of Surat-Bharuch-Ankleshwar CGD network up to 31 March 2024.

With reference to the news item appearing in the newspaper dated 28 April 2014 captioned "Dhoot to part-sell Brazil oilfield stake," Videocon Industries clarified that it does not comment on the rumors and speculative market reports. The company said it has been fully compliant with the provisions of the listing agreement, including the provisions with regards to dissemination of corporate information/events, which could have a bearing on the operation/performance of the company.

With respect to the media reports on the subject, "L&T Fin in talks with Yes Bank on stake buy," on 23 April 2014, YES Bank clarified after market hours on Monday, 28 April 2014, that it does not comment on speculative news appearing in the media. The bank keeps on evaluating capital raising alternatives, and has obtained Board approval to raise equivalent of $500 million of fresh capital in the course of FY2014-15. The investors/ stock exchanges will be informed as and when capital raising plans are finalised in FY 2014-15, the bank said in a statement.

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