On a consolidated basis, Reliance Industries (RIL) net profit rose 3.6% to Rs 7506 crore on 16.1% increase in turnover to Rs 84189 crore in Q3 December 2016 over Q3 December 2015. Profit before depreciation, interest, and taxes (PBDIT) increased by 3.9% to Rs 14215 crore in Q3 December 2016 over Q3 December 2015. Profit Before Tax increased by 3.7% to Rs 10213 crore in Q3 December 2016 over Q3 December 2015. Cash Profit increased by 2.3% to Rs 10586 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 16 January 2017. The result is as per Indian Accounting Standards (Ind AS).
Bharat Petroleum Corporation (BPCL) said that it received in-principle approval for merger of Petronet CCK (PCCKL) with itself. PCCKL is a wholly-owned subsidiary of BPCL. The announcement was made after market hours yesterday, 16 January 2017.
TCS announced a partnership with Aurus, Inc., a global leader in innovative payments technology, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform. The omnichannel payment solution facilitates transactions across channels and delivers unmatched convenience and security to both end consumers and retailers. Through this partnership with Aurus, retailers using TCS OmniStore will be able to easily process multiple payments across channels. The announcement was made after market hours yesterday, 16 January 2017.
HCL Technologies after market hours yesterday, 16 January 2017, issued a clarification to the stock exchanges on a law suit filed against HCL America Inc., a wholly owned subsidiary of the company. CultureSphere Inc., a California based corporation, has made certain claims and allegations against HCL America Inc and has filed a suit against HCL America Inc in Santa Clara County Superior Court. While the matter is sub-judice and the company will respect the legal outcome, the company, in the interest of its stakeholders, would like to clarify that the allegations in the lawsuit are totally baseless, and there have been no agreements written or unwritten between the parties, HCL Technologies said. The company added that it will defend its position accordingly.
Infosys announced its internal carbon price at $10.5 per ton of CO2e, at an event organized by the Carbon Pricing Leadership Coalition (CPLC) in Zurich. A significant milestone for Infosys, the price will be applicable for a period of two years and will represent the cost of decarbonizing 1 ton of CO2e. Infosys has been working towards building a clean energy future and has been on track to meet its commitment of becoming carbon neutral in 2018. In addition, Infosys has also committed to reduce its per-capita electricity consumption by 50% from the 2008 level and use 100% renewable power for electricity by 2018. The announcement was made after market hours yesterday, 16 January 2017.
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Tata Global Beverages said that its board accorded an in principle approval for divesting its stake in its joint venture, Zhejiang Tata Tea Extraction Company, at an estimated enterprise value of Rs 33 crore, subject to necessary approvals. The transaction will also be subject to completion of negotiations, definitive agreements and satisfaction of conditions precedent. The announcement was made after market hours yesterday, 16 January 2017.
TeamLease Services said it signed a definitive agreement to acquire 100% shares in Keystone Business Solutions, a company incorporated under Companies Act, 1956 through its wholly owned subsidiary, TeamLease Staffing Services. The proposed acquisition does not fall within related party transaction and the promoters of the company have no interest in the entity proposed to be acquired. The consideration involved in the transaction is Rs 8.2 crore payable in cash. Keystone Business Solutions was incorporated on 25 June 2009 which offers IT staffing solutions. It operates through its registered office situated in Bangalore, India. The indicative time period for completion of the acquisition is on or before 31 January 2017. The announcement was made after market hours yesterday, 16 January 2017.
Shriram EPC said it will hold a board meeting on 19 January 2017 for considering the issuance of shares in lieu of the working capital term loan to the corporate debt restructuring (CDR) lenders based on reconciliation with the bankers and considering & approving the issuance of shares upto Rs 35 crore to a private limited company, on preferential basis. Consequent to this, the board would also consider increasing the authorised share capital of the company. The announcement was made after market hours yesterday, 16 January 2017.
Delta Corp said it was issued a licence for operations of a casino in Gangtok, Sikkim, under the Sikkim Casino (Control &Tax) Act, 2002. The company is fully ready to commence its casino operations and will do so immediately. The announcement was made after market hours yesterday, 16 January 2017.
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