PSU OMCs in focus after fuel price hike

Shares of public sector oil marketing companies (PSU OMCs) will be watched. Petrol price was increased by Rs 1.39 per litre while diesel was made expensive by Rs 1.04 per litre. The price of both fuels - petrol and diesel - exclude state levies - which means the actual increase in price will be more after taking into account local value-added tax (VAT) - and took effect from the midnight of 15 April and 15 April 2017.

Dr Reddy's Laboratories announced that the audit of its API Srikakulam plant in Andhra Pradesh by the US Food and Drug Administration (USFDA) was completed on Friday, 14 April 2017, with no observations. The announcement was made on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Godrej Properties (GPL) announced that it has partnered with Taj Hotels Palaces Resorts Safaris to develop a Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer approximately 150 guest rooms and suites along with dining, entertainment, and conferencing facilities. The announcement was made before trading hours today, 17 April 2017.

Aban Offshore said that Shema Renny Abraham, one of the company's promoters, sold 25,000 shares, or 0.04% equity, in the open market on 12 April 2017. Shema Renny Abraham now holds 3.90 lakh shares, or 0.67% equity, of Aban Offshore. The announcement was made after market hours on Thursday, 13 April 2017.

Net profit of Reliance Industrial Infrastructure rose 140.13% to Rs 7.30 crore on 4.70% rise in net sales to Rs 23.84 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

On a consolidated basis, net profit of Reliance Power rose 250.77% to Rs 215.90 crore on 0.10% decline in net sales to Rs 2466.49 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Net profit of Bajaj Corp declined 2.93% to Rs 52.67 crore on 1.94% decline in net sales to Rs 204.21 crore in Q4 March 2017 over Q4 March 2016. The result was announced at the fag end of the trading session on Thursday, 13 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Net profit of DCB Bank declined 23.98% to Rs 52.86 crore on 20.2% increase in operating income to Rs 612.64 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

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