Axis Bank's net profit fell 1.2% to Rs 2154.28 crore on 9.75% rise in total income to Rs 13592.97 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 April 2016. The bank's gross non-performing assets (NPAs) stood at Rs 6087.51 crore as on 31 March 2016 as against Rs 5724.05 crore as on 31 December 2015 and Rs 4110.19 crore as on 31 March 2015. The ratio of gross NPAs to gross advances stood at 1.67% as on 31 March 2016 as against 1.68% as on 31 December 2015 and 1.34% as on 31 March 2015. The ratio of net NPAs to net advances stood at 0.7% as on 31 March 2016 as against 0.75% as on 31 December 2015 and 0.44% as on 31 March 2015. The bank's provisions and contingencies jumped 64.59% to Rs 1168.33 crore in Q4 March 2016 over Q4 March 2015.
Bharti Airtel and Yes Bank will announce their Q4 results today, 27 April 2016.
Bharti Infratel's consolidated net profit rose 18.69% to Rs 661.70 crore on 7.21% rise in total income to Rs 3341.30 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 26 April 2016.
Bharti Infratel's board of directors at its meeting held on 26 April 2016, has considered and approved the proposal to buyback equity shares of the company on a proportionate basis through a tender offer. The buyback shall be up to an aggregate amount not exceeding Rs 2000 crore at a maximum price of Rs 450 per share. At maximum buyback price, the buyback translates into approximately 4.44 crore equity shares of the company, representing 2.34% of the total paid up equity share capital of the company.
Biocon's consolidated net profit rose 79.1% to Rs 360.90 crore on 17.42% rise in total income to Rs 1003.50 crore in Q4 March 2016 over Q4 March 2015. The result was announced before market hours today, 27 April 2016.
Mangalore Refinery and Petrochemicals (MRPL) said that considering the acute water shortage in the dakshina kannada district of Karnataka and the restrictions imposed by the district administration in pumping river water for industrial use, MRPL has initiated partial shutdown of certain units and also running some units on reduced capacity without disrupting fuel production and supplies to the extent possible. The announcement was made after market hours yesterday, 26 April 2016.
NHPC will be in focus. The President of India, acting through and represented by the Ministry of Power, Government of India, announced an offer for sale (OFS) of up to 125.76 crore shares of NHPC on 27 April 2016 (for non-retail investors only) and on 28 April 2016 (for retail investors and for non-retail investors who choose to carry forward their bids) through a separate, designated window on the stock exchanges, representing 11.36% of the total paid up equity share capital of the company on 31 December 2015. : The floor price of the OFS shall be Rs 21.75 per share.
Seperately, NHPC said that the board of directors of the company at its meeting held on 26 April 2016, has considered and approved the proposal for raising of debt up to Rs 900 crore through issuance of U-Series secured Redeemable Non cumulative Non Convertible Corporate bonds in the nature of debentures on private placement basis. The announcement was made after market hours yesterday, 26 April 2016.
Rallis India's consolidated net profit rose 51.26% to Rs 32.25 crore on 11.11% rise in total income to Rs 357.03 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 26 April 2016.
Great Eastern Shipping Company announced that it has entered into an agreement to cancel the new building Kamsarmax which was scheduled for delivery in financial year ending 31 March 2018 (FY 2018), having signed the contract in FY 2014). Simultaneously, the company has contracted for purchase of two newbuilding resale Kamsarmaxes being built at the same shipyard, due to be delivered in Q2 September 2016. The transactions collectively are value accretive. The announcement was made after market hours yesterday, 26 April 2016.
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