Coal India will be watched. The board of directors of Central Coalfields a subsidiary of Coal India approved revision of coking coal prices 14 January 2017. The increase in price is done by subsuming the washery recovery charge (WRC) which was being charged separately in the case of non-linked washery grade coking coal keeping in view the observation of ADRM. Due to this revision, Coal India (CIL) will earn approximately additional revenue of Rs 89.98 crore for the balance period of financial year 2016-2017, i.e. from 13 January 2017 to 31 March 2017 and additional revenue of Rs 222 crore for financial year 2017-2018 subject to achievement of production and dispatch target norms. The announcement was made on Saturday, 14 January 2017.
Shares of auto and public sector oil marketing companies (PSU OMCs) will be watched. PSU OMCs hiked petrol prices by Rs 0.42 a litre (excluding State levies) on Sunday, 15 January 2017 and diesel rate by Rs 1.03 a litre (excluding State levies).
DCB Bank's net profit rose 24.5% to Rs 51.30 crore on 28.8% increase in operating income to Rs 614.31 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 14 January 2017.
NBCC (India) has fixed 21 February 2017 as the record date for 1:2 bonus issue of shares. The announcement was made after trading hours on Friday, 13 January 2017.
Pokarna said that its wholly owned subsidiary, Pokarna Engineered Stone (PESL), plans to expand quartz surfaces production capacity by 130% with investment of Rs 325 crore in a greenfield facility. This investment is expected to be completed by June 2018 and PESL would finance this project through a combination of free cash flow/internal accruals (Rs 75 crores) and loan facilities (Rs 250 crore); PESL is in receipt of financial sanction from its lead banker, for the term loan of Rs 250 crore, for funding the project. Further Pokarna's board has approved extending corporate guarantee for the loan facilities to he extended to PESL. The announcement was made after trading hours on Friday, 13 January 2017.
Hind Rectifiers said that its board approved raising upto Rs 12 crore by issuing equity shares to the existing shareholders of the company on a rights basis. The announcement was made on Sunday, 15 January 2017.
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