On a consolidated basis, Cipla reported 120.9% surge in net profit to Rs 650.61 crore on 41.3% rise in total income to Rs 3901.70 crore in Q1 June 2015 over Q1 June 2014. Cipla's EBITDA rose 91.8% to Rs 1039 crore in Q1 June 2015 over Q1 June 2014. Cipla said that Q1 June 2015 include the relevant results of Cipla's subsidiaries from the date they became subsidiary of the company and therefore the corresponding figures for the Q1 June 2014 are not comparable. The result was announced after market hours on Friday, 14 August 2015.
HDFC after market hours on Friday, 14 August 2015 said that it has agreed to sell 17.95 crore equity shares of Rs 10 each of HDFC Standard Life Insurance Company (HDFC Life) to Standard Life (Mauritius Holdings) 2006 Limited at a price of Rs 95 per share aggregating to 9% of the issued and paid-up share capital of HDFC Life, subject to receipt of requisite approvals. Post the said sale of stake in HDFC Life, HDFC's holding in HDFC Life will be 61.65% and that of Standard Life (Mauritius Holdings) 2006 Limited will be 35%.
Tata Motors after market hours on Friday, 14 August 2015 said that Tata Motors Group global wholesales including Jaguar Land Rover (JLR) dropped 8% to 73,535 units in July 2015 over July 2014.
Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys on Friday, 14 August 2015 announced a partnership with Payveris, an online and mobile digital payments company headquartered in Connecticut. The two entities will jointly provide integrated payment solutions to banks and credit unions throughout the United States. The offering will facilitate bill payments and innovative money movement services such as interbank transfers and person-to-person payments. The announcement was made after market hours on Friday, 14 August 2015.
Through this partnership, the two organizations will integrate Finacle Universal Banking Solution and Payveris' modular, open API-driven Digital Payments Platform to offer cloud-based banking services to community financial institutions in the U.S. The fully integrated solution will enable financial institutions to boost agility and efficiency of their operations, accelerate growth and improve customer experience across channels. The partnership will strengthen Infosys Finacle's core banking, e-banking and mobile banking offerings in the U.S. through the addition of Payveris' omni-channel digital payments capability.
Shares of PSU OMCs will be in focus after announcing reduction in petrol and diesel price effective 15 August 2015. The announcement was made after market hours on Friday, 14 August 2015.
Indian Oil Corporation (IOCL) announced reduction in petrol and diesel prices with effect from 15 August 2015. The retail selling price of petrol was decreased by Rs 1.27 per litre at Delhi (including state levies) with corresponding price revision in other states. With the latest revision, the price of petrol in Delhi has become Rs 63.20 per litre. The retail selling price of diesel was reduced by Rs 1.17 per litre at Delhi (including state levies) with corresponding price revision in other states. With the latest revision, the price of diesel in Delhi has become Rs 44.95 per litre.
IOCL said that since last price change on 1 August 2015, there has been a decrease in international prices of both petrol & diesel. Rupee-dollar exchange rate has, however, depreciated during this period. Combined impact of both these factors warranted a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease. The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said in a statement.
PSU OMCs review fuel prices during the middle of the month and on the last day of the month based on the average imported oil price in the preceding fortnight.
On a consolidated basis, Reliance Communications reported 34.1% rise in net profit to Rs 177 crore on 0.3% rise in total income to Rs 5541 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours on Friday, 14 August 2015.
BEML reported net loss of Rs 74.87 crore in Q1 June 2015, lower than net loss of Rs 95.53 crore in Q1 June 2014. Total income rose 17.7% to Rs 597.35 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours on Friday, 14 August 2015.
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