NMDC in focus after Q2 earnings

NMDC's net profit fell 48.28% to Rs 810.24 crore on 44.14% decline in total income to Rs 2028.66 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 10 November 2015.

Kothari Products' net profit fell 26.48% to Rs 13.24 crore on 12.93% decline in net total income from operations to Rs 1104.48 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 10 November 2015. Kothari Products said that the board of directors of the company recommended 1:2 bonus issue.

Udaipur Cement Works announced after market hours yesterday, 10 November 2015 that the company has filed an application to Board for Industrial & Financial Reconstruction (BIFR) on 9 November 2015, seeking an exit from its purview as the company's networth turned positive on the basis of the financial statements for the year ending 31 March 2015 (FY 2015). It may be recalled that the BIFR vide its order dated 13 January 2012 had sanctioned the Rehabilitation Scheme of the company.

KEC International announced after market hours yesterday, 10 November 2015, that the board of directors of the company at its meeting held on 28 October 2015, accorded its consent to raise funds for refinancing of debt, long term working capital requirements, capex and other corporate purposes, by way of issuance of redeemable non-convertible debentures / bonds, on private placement basis, subject to approval of the members by passing a special resolution.

The government Tuesday, 10 November 2015, opened up several key sectors including defence, construction and civil aviation to foreign investment, eased norms for businesses such as single-brand retail and private banking and allowed the Foreign Investment Promotion Board (FIPB) to clear proposals up to Rs 5000 crore from Rs 3000 crore earlier.

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