Axis Bank's net profit rose 18.23% to Rs 1610.71 crore on 12.53% growth in total income to Rs 10549.97 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 17 October 2014. The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 1.34% as on 30 September 2014, unchanged from 30 June 2014, but higher than 1.19% as on 30 September 2013. The ratio of net NPAs to net advances stood at 0.44% as on 30 September 2014, unchanged from 30 June 2014, but higher than 0.37% as on 30 September 2013.
UltraTech Cement's consolidated net profit rose 48.01% to Rs 414.24 crore on 18.52% rise in total income to Rs 5821.48 crore in Q2 September 2014 over Q2 September 2013. The company announced Q2 results on Saturday, 18 October 2014.
In terms of the scheme of arrangement between Jaypee Cement Corporation (JCCL) and the company and their respective shareholders and creditors (the scheme) 27,261 additional equity shares of the company of Rs 10 each credited as fully paid-up has been allotted to the equity shareholders of JCCL in terms of the scheme as final consideration. The financial results of the acquired units have been combined with the company's financial results with effect from 12 June 2014. As a result, figures for the three months and six months ended 30 September 2014 are strictly not comparable with previous periods.
UltraTech Cement also said that the board of directors of the company at its meeting held on 18 October 2014, extended the term of appointment of Mr O. P. Puranmalka, Managing Director, for a period of one year i.e. from 1 April 2015 to 31 March 2016 and appointed Mr. Atul Daga as Chief Financial Officer of the company in place of Mr. K. C. Birla, with effect from 1 December 2014.
Shares of oil and gas firms are seen rising after the government deregulated diesel and raised gas prices on Saturday, 18 October 2014.
After a Cabinet meeting on Saturday, 18 October 2014, Finance Minister Arun Jaitley announced that diesel price stood deregulated to allow it to move as per market conditions, just like petrol. Following this, Indian Oil Corporation announced reduction in diesel price by Rs 3.37 per litre (including VAT) in Delhi with corresponding decrease in other States from 19 October 2014.
The government also tweaked the UPA-approved gas pricing formula to raise gas prices by about a third to $5.61 per million British thermal units rather than double what the UPA approved formula would have resulted in. This will be effective from 1 November and will be revised every six months.
United Spirits, Idea Cellular, Hindustan Zinc, Just Dial and Exide Industries among others will declare their results for the quarter ended September 2014 today, 20 October 2014.
Persistent Systems' consolidated net profit rose 3.6% to Rs 71.31 crore on 6.7% rise in total income to Rs 464.17 crore in Q2 September 2014 over Q1 June 2014. The company announced Q2 results on Saturday, 18 October 2014.
LIC Housing Finance's net profit rose 10.08% to Rs 341.35 crore on 15.47% rise in total income to Rs 2658.69 crore in Q2 September 2014 over Q2 September 2013. The company announced Q2 results on Saturday, 18 October 2014.
Canara Bank announced on Saturday, 18 October 2014, that the bank has received approval of the Government dated 17 October 2014, for rising of equity capital of Rs 80 crore with additional premium of Rs 5 crore through qualified institutional placement (QIP) during financial year ending 31 March 2015 (FY 2015). The bank is taking steps in this direction to raise he equity capital during the current financial year.
The board of directors in its meeting held on 28 April 2014, had discussed about the various options of raising capital on account of Basel III guidelines & also to fund the general business needs of the bank and decided to raise funds through QIP mode & through preferential allotment during the current financial year. The board had constituted a committee of directors to decide on the modalities of the cited two options. The bank had also obtained the consent of the shareholders at the 12th annual general meeting on 21 July 2014, by way of a special resolution to raise equity capital of the bank through QIP mode.
Mindtree turns ex-dividend today, 20 October 2014, for interim dividend of Rs 3 per share for the year ending 31 March 2015 (FY 2015).
Everest Industries said that board of directors of the company at its meeting held on 17 October 2014, has approved the setting up of a 72,000 mtpa Fibre Cement Boards plant in UAE through its wholly owned subsidiary company in Mauritius subject to grant of applicable approvals.
Arvind said that the company has voluntarily sought the delisting of GDRs from Luxembourg Stock Exchange. The GDRs listing have been cancelled from Luxembourg Stock Exchange with effect from 3 October 2014 consequent upon termination of Deposit Agreement with the Depository J P Morgan Chase Bank N. A., New York after its resignation as a Depository. The company has not appointed any Successor Depository and has terminated the Deposit Agreement for lack of liquidity with virtually no trading taking place due to investors' decreasing interest in depositary receipts, Arvind said.
Oberoi Realty's consolidated net profit rose 9.97% to Rs 70.54 crore on 6.09% fall in total income to Rs 189.37 crore in Q2 September 2014 over Q2 September 2013. The company announced Q2 results on Saturday, 18 October 2014.
Geojit BNP Paribas reported consolidated net profit of Rs 19.99 crore in Q2 September 2014 compared with net loss of Rs 94.20 crore i Q2 September 2013. Total income from operations rose on 56.67% to Rs 75.55 crore in Q2 September 2014 over Q2 September 2013. The company announced Q2 results on Saturday, 18 October 2014.
Sadbhav Engineering said after market hours on Friday, 17 October 2014 that the qualified institutional placement (QIP) Committee (the committee) of the board of directors of the company at its meeting held on 17 October 2014 has decided to close the Issue and has accorded its consent for the issue of up to 1.15 crore shares at a price of Rs 216, for an aggregate value of Rs 249.99 crore at a discount of Rs 3.0625 per share to the floor price of Rs 219.0625 per share.
Kolte Patil Developers' consolidated net profit fell 60.56% to Rs 12.70 crore on 16.28% decline in total income from operations to Rs 157.89 crore in Q2 September 2014 over Q2 September 2013. The company announced Q2 results on Saturday, 18 October 2014.
Net profit of Force Motors declined 4.60% to Rs 25.69 crore in the quarter ended September 2014 as against Rs 26.93 crore during the previous quarter ended September 2013. Sales rose 27.20% to Rs 592.37 crore in the quarter ended September 2014 as against Rs 465.71 crore during the previous quarter ended September 2013.
Net profit of Unichem Laboratories declined 38.36% to Rs 22.32 crore in the quarter ended September 2014 as against Rs 36.21 crore during the previous quarter ended September 2013. Sales rose 3.29% to Rs 274.95 crore in the quarter ended September 2014 as against Rs 266.19 crore during the previous quarter ended September 2013.
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