Ambuja Cements' consolidated net profit rose 38% to Rs 396.96 crore on 6.8% growth in net sales to Rs 5631.90 crore in Q1 March 2017 over Q1 March 2016. The result was announced after market hours on Friday, 28 April 2017.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a hike in petrol and diesel prices. Indian Oil Corporation (IOCL) on 30 April 2017 announced an increase in the price of petrol and diesel with effect from the midnight of 30 April/1 May 2017. Petrol price was hiked by Rs 0.01 per litre and diesel price was raised by Rs 0.44 a litre at Delhi (excluding state levies).
In addition to this, daily revision of prices of petrol and diesel is being implemented on pilot basis, in the cities of Chandigarh, Jamshedpur, Puducherry District, Udaipur and Vizag with effect from 1 May 2017.
Dr Reddy's Laboratories said that the audit of the company's formulations manufacturing plant - 3 at Bachupally, Hyderabad by the US FDA, has been completed on Friday, 28 April 2017. The company was a Form 483 with 11 observations. These observations are mostly procedural in nature, reflecting the need to improve people capabilities and strengthen documentation and laboratory systems. The company will address them comprehensively within the stipulated time. This is for your information. The result was announced after market hours on Friday, 28 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.
GAIL (India) has awarded contracts for pipeline laying works of Kochi-Koottanad-Mangaluru pipeline for another 131 kilometre section at a cost of approximately Rs 200 crore. The balance 111 kilometres stretch will be awarded by July 2017. GAIL (India) is targeting to complete the entire project by December 2018. The announcement was made on Monday, 1 May 2017, when the domestic stock markets were closed for a local holiday.
Marico and Kansai Nerolac Paints are scheduled to announce March quarter earnings today, 2 May 2017.
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Thermax announced that the company has won export contracts from a leading African conglomerate to supply 4 utility boilers, 8 heat recovery steam generators and 2 flue gas steam generators for its refinery and petrochemical project coming up in Nigeria. The scope of supply covers design, engineering, procurement, manufacturing and testing, and supervision of commissioning of these equipment at the site. The order is valued at approximately $ 157 million. The announcement was made after market hours on Friday, 28 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.
Raymond's net profit rose 10.97% to Rs 37.54 crore on 1.64% growth in net sales to Rs 772.46 crore in Q1 March 2017 over Q1 March 2016. The result was announced after market hours on Friday, 28 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.
Navin Fluorine International's net profit fell 6.73% to Rs 29.38 crore on 5.79% growth in net sales to Rs 200.53 crore in Q1 March 2017 over Q1 March 2016. The result was announced after market hours on Friday, 28 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.
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