NMDC said after market hours yesterday, 11 May 2015, that it has signed three memorandum of understanding (MoUs) for setting up Ultra Mega Steel Plant in Bastar Region (Ministry of steel, Government of Chhattisgarh, SAIL and NMDC): development of railway line from Jagdalpur to Rowghat (Government of Chhattisgarh, SAIL, NMDC and IRCON) and slurry Pipeline & Pellet Plant (Government of Chhattisgarh and NMDC).
Bank stocks will be watched. The Reserve Bank of India (RBI) in a notification yesterday, 11 May 2015, advised all public sector banks (PSBs) and some private sector and foreign banks to appoint an internal ombudsman. The internal ombudsman would be designated Chief Customer Service Officer (CCSO), RBI said. The CCSO should not have worked in the bank in which he/she is appointed as CCSO. The Reserve Bank has taken this initiative to further boost the quality of customer service and to ensure that there is undivided attention to resolution of customer complaints in banks. While all public sector banks will have to appoint a CCSO, the private sector and foreign banks which have been asked to appoint the CCSO (Internal Ombudsman) are ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Standard Chartered Bank, Citi Bank N.A. and HSBC, RBI said. These banks have been selected on the basis of their asset size, business mix, etc, RBI said. The bank's internal ombudsman will be a forum available to bank customers for grievance redressal before they can even approach the Banking Ombudsman, RBI said. The Reserve Bank will shortly issue detailed operational guidelines to the banks.
Among key corporate earnings, Ashok Leyland, Central Bank of India, Dr Reddy's Laboratories, Motherson Sumi Systems, Sobha, Torrent Power, UCO Bank, Union Bank of India and Vijaya Bank will announce their quarter ended 31 March 2015 earnings today, 12 May 2015.
Eicher Motors after market hours yesterday, 11 May 2015 said that Royal Enfield acquired UK based Harris Performance Products.
Hindustan Zinc turns ex-dividend today, 12 May 2015, for final dividend of Rs 2.50 per share for the year ended 31 March 2015 (FY 2015).
Timken India announced after market hours yesterday, 11 May 2015, that a fire broke-out in the company's third party logistic provider's warehouse in Pune on Sunday, 10 May 2015, morning. No one was injured in the incident but there seems to be substantial damage to the Timken inventory held under trust with the third party logistic provider. The extent of loss is being ascertained by competent authorities. Further the company has informed that it is trying to restore regular operations as early as possible through the company's business continuity plan and working towards minimal impact on customer delivery schedules.
Orient Paper & Industries' net profit fell 12.23% to Rs 16.67 crore on 0.84% decline in net total income from operations to Rs 583.04 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 11 May 2015.
Orient Paper & Industries said that as regards Auditor's qualification in respect of Water Tax Demand of Rs 372.49 crore from Govt. of Madhya Pradesh, the company has filed writ petition with High Court and obtained interim stay for recovery. The Auditor's have reported to the same in their report as matter of emphasis, company said.
Den Networks reported consolidated net loss of Rs 62.08 crore in the quarter ended March 2015 as against net profit of Rs 10.05 crore during the previous quarter ended March 2014. Sales declined 11.83% to Rs 261.66 crore in the quarter ended March 2015 as against Rs 296.78 crore during the previous quarter ended March 2014. The result was announced after market hours yesterday, 11 May 2015.
OCL India's net profit fell 13.49% to Rs 36.02 crore on 24.42% growth in total income from operations (net) to Rs 665.19 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 11 May 2015.
Taj GVK Hotels & Resorts reported net loss of Rs 0.37 crore in Q4 March 2015 compared with net profit of Rs 4.92 crore in Q4 March 2014. Total income from operations (net) rose 5.45% to Rs 68.62 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 11 May 2015.
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