Shares of public sector banks (PSBs) will be in focus as the Government of India (GoI) after market hours yesterday, 24 January 2018, unveiled details of the re-capitalisation of PSBs announced in October 2017. The capital infusion plan for 2017-18 includes Rs 80000 crore through recap bonds and Rs 8139 crore as budgetary support. This plan addresses regulatory capital requirement of all PSBs and provides a significant amount towards growth capital for increasing lending to the economy.
The recap would be accompanied by a strong reforms package across six themes incorporating 30 action points. Capital infusion by the GoI is contingent on performance of PSBs on the reform. Whole time directors of PSBs would be assigned theme-wise reforms for implementation. Their performance in this regard would be evaluated by the bank board.
Dr Reddy's Laboratories and Maruti Suzuki India are scheduled to announce Q3 December 2017 results today, 25 January 2018.
TCS said that the company and Mesosphere, the creators of DC/OS, the premier platform for building and running data-intensive, containerized applications announced a partnership aimed at helping customers utilize data services and cloud platforms more efficiently. The announcement was made after market hours yesterday, 24 January 2018.
Biocon's consolidated net profit fell 46.4% to Rs 91.90 crore on 2% growth in net sales to Rs 1057.90 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 24 January 2018.
Pidilite Industries' consolidated net profit rose 18% to Rs 239.14 crore on 15.6% growth in net sales to Rs 1542.90 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 24 January 2018.
Bharat Electronics said that the board of directors at a meeting scheduled on 30 January 2018 will consider proposal for share buyback. The announcement was made after market hours yesterday, 24 January 2018.
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