ONGC, Coal India in spotlight after Q1 earnings

State-run ONGC's consolidated net profit fell 19.39% to Rs 6,693.61 crore on 0.77% decline in net sales to Rs 109,514.82 crore in Q1 June 2019 over Q1 June 2018.

On a standalone basis, ONGC's net profit fell 3.9% to Rs 5,904.25 crore on 2.4% decline in net sales to Rs 26,554.74 crore in Q1 June 2019 over Q1 June 2018.

Coal India's consolidated net profit rose 22.27% to Rs 4,629.67 crore on 3.64% rise in net sales to Rs 23,223 crore in Q1 June 2019 over Q1 June 2018.

National Aluminium Company (Nalco)'s consolidated net profit rose 84.40% to Rs 97.87 crore on 29.91% rise in net sales to Rs 2,084.08 crore in Q1 June 2019 over Q1 June 2018.

Glenmark Pharmaceuticals' consolidated net profit fell 53.08% to Rs 109.31 crore on 7.24% rise in net sales to Rs 2,283.60 crore in Q1 June 2019 over Q1 June 2018.

The drug maker forecasts revenue growth of 10-15% for the current financial year. The company plans to bring minority investor in Glenmark Life Sciences and to divest other non-core global assets. The firm expects total R&D expenditure to be lower in absolute value as compared to FY2018‐19.

GAIL (India): Petroleum & Natural Gas Regulatory Board has increased tariff for GAIL (India)'s Dabhol-Bangalore pipeline by 11%. The new price will be effective from 1 September.

Khadim India: promoter Siddhartha Roy Burman acquired 1,00,507 equity shares, or 0.56% stake, in the company at Rs 194.98 each on BSE yesterday, 13 August 2019. As on 30 June 2019, Siddhartha Roy Burman held 8.12% stake in the firm.

Mishra Dhatu Nigam: HDFC Mutual Fund increased its stake in the company to 5.03% on 9 August 2019 from 4.92% earlier.

Infosys announced that it has been selected by Toyota Material Handling North America (TMHNA) for a cloud based IoT telematics product implementation along with application support and development for its SAP Platform.

Wipro announced that it has launched three edge artificial intelligence (AI) starter solutions powered by Intel Xeon Scalable processors. These starter solutions will help enterprises in the energy & utilities and healthcare markets jump start their AI adoption. Wipro will leverage Intel's Al technology to maximize performance of the Wipro AI solutions when running on Intel Xeon Scalable processors.

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