PSU OMCs will be in focus. PSU OMCs have raised the price of petrol by 36 paise a litre and diesel by 87 paise a litre following their fortnightly review to align local prices with international ones and adjust for foreign exchange rates. The prices will be effective from today, 16 November 2015.
Coal India's consolidated net profit rose 16.02% to Rs 2543.80 crore on 6.89% rise in total income to Rs 18921.23 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours on Friday, 13 November 2015.
Sobha's consolidated net profit fell 32.6% to Rs 40.10 crore on 32.6% decline in total income to Rs 456.10 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours on Friday, 13 November 2015.
Mr J C Sharma, Vice Chairman and Managing Director Sobha commented on Q2 results that it has been a difficult period for the real estate sector and the overall demand is yet to show a clear upward trend. During Q2, the contribution from contractual and manufacturing operations was relatively higher. However, the sales in real estate projects which have reached the revenue recognition threshold were lower than expected, resulting in a low-key financial performance. He said that with the Sobha Dream Acres Project qualifying for revenue recognition during this financial year ending 31 March 2016 (FY 2016), the next half of the fiscal should see an improvement in the financial performance.
McNally Bharat Engineering Company reported net loss of Rs 79.45 crore in Q2 September 2015 compared with net loss of Rs 8.33 crore in Q2 September 2014. Net total income from operations rose 30.98% to Rs 737.86 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours on Friday, 13 November 2015.
TV Today Network's net profit rose 84.14% to Rs 24.32 crore on 24.39% rise in net total income from operations to Rs 127.04 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours on Friday, 13 November 2015.
DLF said before market hours today, 16 November 2015, that the Competition Commission of India vide its letter dated 12 November 2015 has communicated that the Commission in its meeting held in 10 November 2015 considered and approved the proposed combination of DLF Home Developers (DHDL), a wholly-owned subsidiary of DLF and GIC, Singapore's sovereign wealth fund (GIC) to enter into a joint venture to invest in two upcoming projects located in Central Delhi. The detailed order of the commission in this regard is awaited. Pursuant to receipt of this approval, both parties are initiating the necessary steps to successful closing of this transaction.
DHDL, a wholly-owned subsidiary of DLF and GIC, Singapore's sovereign wealth fund (GIC) have signed an agreement to enter into a joint venture to invest in two upcoming projects located in Central Delhi. GIC will invest a sum of approximately Rs 1990 crore in the said projects, subject to meeting all statutory requirements and conditions precedents which are customary, prior to the closing.
Shares of S H Kelkar and Company will be listed on the bourses today, 16 November 2015. The company has fixed issue price of Rs 180 per share. S H Kelkar & Company along with its subsidiaries is engaged in the manufacture, supply and exports of fragrances (including aroma ingredients) and flavours.
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