Wipro in focus after Q2 results

Wipro's consolidated net income fell 8% to Rs 2070 crore on 10% increase in gross revenues to Rs 13770 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

During the quarter, non-GAAP constant currency IT services segment revenue in dollar terms grew 0.9% over Q1 June 2016 and grew 7.2% over Q2 September 2015. IT services segment revenue was $1916.30 million, a decrease of 0.8% over Q1 June 2016 and an increase of 4.6% over Q2 September 2015.

IT services segment profits fell 5% to Rs 2340 crore on 9% increase in revenue to Rs 13140 crore in Q2 September 2016 over Q2 September 2015. Wipro expects revenues from its IT services business to be in the range of $1,916 million to $1,955 million.

On a consolidated basis, net profit of Cairn India rose 139.16% to Rs 778.70 crore on 9.08% decline in net sales to Rs 2038.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Sun Pharmaceutical Industries said it completed the divestment of its seven prescription brands in India to RPG Life Sciences. This has been done after receiving approval of the Competition Commission of India and completion of all the necessary formalities for closure of the transaction, Sun Pharmaceutical Industries said in a filing. On 27 July 2016, Sun Pharma had informed that it had signed an pact with RPG Life Sciences to divest seven brands in India, owned by the company and its subsidiary, for a consideration of Rs 41 crore. The announcement was made after market hours on Friday, 21 October 2016.

The board of JK Lakshmi Cement in its meeting on 26 October 2016 will consider issuing non-convertible debentures (NCDs) of upto Rs 500 crore, in one or more tranches, on private placement basis subject to requisite approval of the shareholders. The announcement was made after market hours on Friday, 21 October 2016.

Union Bank of India said its board will meet on 26 October 2016 to consider raising of capital funds through various means. The announcement was made after market hours on Friday, 21 October 2016.

Great Eastern Shipping Company (GE Shipping) said it signed a contract to buy a Supramax Dry Bulk Carrier of about 58,000 deadweight tonnage (dwt). The 2009 built vessel is expected to join the company's fleet in Q3 December 2016. The company's current fleet stands at 37 vessels, comprising 24 tankers (7 crude carriers, 15 product tankers, 2 LPG carrier) and 13 dry bulk carriers (1 Capesize, 7 Kamsarmax, 5 Supramax) with an average age of 8.93 years aggregating 2.88 mn dwt. Additionally, the company has 1 Newbuilding Kamsarmax on order. The announcement was made after market hours on Friday, 21 October 2016.

Net profit of RPG Life Sciences rose 300.39% to Rs 10.25 crore on 13.66% rise in net sales to Rs 76.38 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Net profit of SKF India rose 20.42% to Rs 60.26 crore on 10.65% rise in net sales to Rs 654.55 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

On a consolidated basis, net profit of Oberoi Realty rose 12.45% to Rs 83.72 crore on 32.62% rise in net sales to Rs 250.85 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

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