L&T may gain after signing long-term agreement with Chiyoda Corporation

L&T announced after market hours yesterday, 8 November 2016, that it has signed a long-term Technical Licence Agreement with Chiyoda Corporation for its 'Chiyoda Thoroughbred 121TM (CT-121TM)' Flue Gas Desulphurisation (FGD) Technology. The agreement grants L&T exclusive rights to undertake EPC of CT-121TM FGD Systems. The new emission norms for coal-based thermal power plants in India, notified vide MoEFCC Gazette dated 7 December 2015, introduced new limits on sulphur dioxide (SO2) emissions. The move which makes Indian emission norms among the most stringent in the world, has called for mandatory installation of FGD systems in upcoming power plants, including those currently under construction and many that are already operational.

L&T and Chiyoda's relationship dates back over two decades with L&T-Chiyoda Limited, a JV that has come to be an internationally reputed design and engineering consultancy organisation catering to the Hydrocarbon sector. Through the signing of this agreement, the two companies have extended their association into the power sector as well.

Bosch and Lupin will announce Q2 results today, 9 November 2016.

Bank stocks will be in focus after the ruling NDA government yesterday, 8 November 2016, announced that it is banning use of Rs 500 and Rs 1,000 notes, in its fight against the corruption, fake currency and black money. The legal tender character of the notes in denominations of Rs 500 and Rs 1000 stands withdrawn. In consequence thereof withdrawn old high denomination (OHD) notes cannot be used for transacting business and/or store of value for future usage. The OHD notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India or at any of the bank branches or at any Head Post Office or Sub-Post Office. As soon as the announcement was made, the Reserve Bank of India came out with a ready reckoner on the government's move.

ICICI Bank clarified after market hours yesterday, 8 November 2016, on recent media reports regarding cyber-attacks that there was no breach incident within the control of the bank pertinent to this news item which would have required reporting. The incident reported relates only to a small segment of customers of the bank who used the other bank ATM.

HDFC Bank clarified after market hours yesterday, 8 November 2016, on recent media reports regarding cyber-attacks that the bank has taken appropriate steps in this regard. There has been no breach of HDFC Bank systems and the incident is an outcome of possible compromise at a third party payment processor. The impact for the bank is limited owing to various steps taken by the bank.

Repco Home Finance's net profit rose 17% to Rs 45.69 crore on 20.01% rise in total income to Rs 259.74 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

InterGlobe Aviation's profit after tax rose 23.6% to Rs 139.84 crore on 17.7% rise in total income from operations to Rs 4166.93 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

UFO Moviez India's consolidated profit after tax rose 23.1% to Rs 20.30 crore on 6.9% rise in revenue to Rs 159.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

Tata Communications' consolidated net profit fell 64.4% to Rs 39.96 crore on 1.08% decline in total income to Rs 4581.92 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

VA Tech Wabag's consolidated net profit jumped 69.65% to Rs 24.04 crore on 31.05% rise in total income to Rs 777.60 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

Mangalore Refinery and Petrochemicals reported net profit of Rs 415.86 crore in Q2 September 2016 compared with net loss of Rs 913.38 crore in Q2 September 2015. Total income rose 10.61% to Rs 14082.70 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

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