ITC may gain on good Q1 results

Cigarette major ITC's net profit rose 10.09% to Rs 2384.67 crore on 8.61% increase in total income to Rs 13673.58 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

Cairn India's consolidated net profit fell 28.27% to Rs 359.55 crore on 21.57% decline in total income to Rs 2288.71 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

NHPC announced after market hours yesterday, 21 July 2016 that it has signed a memorandum of understanding (MOU) yesterday, 21 July 2016 with Bharat Heavy Electricals (Bhel) for undertaking of Hydro Power Projects in overseas markets. As per the MOU, NHPC and Bhel will look after the civil and electro mechanical package respectively.

HDFC announced after market hours yesterday, 21 July 2016 that it has completed the issue of rupee denominated bonds aggregating to Rs 3000 crore yesterday, 21 July 2016.

ONGC will be in focus. ONGC Videsh Vankorneft, an indirect wholly owned subsidiary of ONGC Videsh has raised $1 billion through debt instruments issued in global markets. The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026. The notes are guaranteed by ONGC and have been assigned a Baa2 rating by Moody's and BBB- by S&P. The transaction is the largest achieved by an Indian insurer in 2016 and the First Dual tranche insurance from India in 2016, ONGC Videsh is a wholly owned subsidiary of ONGC. ONGC intends to use the notes proceeds to refinance a part of the bridge loan availed for the acquisition of a 15% equity interest in JSC Vankorneft, Russia. The announcement was made after trading hours yesterday, 21 July 2016.

Biocon's consolidated net profit rose 34.46% to Rs 166.60 crore on 22.72% rise in total income to Rs 1023,.30 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

Axis Bank is scheduled to announce its Q1 result today, 22 July 2016.

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