ICICI Bank reported 32.42% slide in net profit to Rs 1650.24 crore on 4.12% fall in total income to Rs 16832.22 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 31 January 2018.
NTPC reported 4.39% fall in net profit to Rs 2360.81 crore on 7.34% rise in total revenue to Rs 21087.84 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 31 January 2018.
Larsen & Toubro (L&T) reported 53% surge in consolidated profit after tax (PAT) to Rs 1490 crore on 9.4% rise in gross revenue to Rs 28747 crore in Q3 December 2017 over Q3 December 2016. Adjusted for excise duty subsumed in GST, the revenue growth was 10%. The result was announced after market hours yesterday, 31 January 2018.
The company won fresh orders worth Rs 48130 crore at the group level during the quarter ended 31 December 2017, registering a growth of 38%, with strong ordering activity witnessed during the quarter. Consolidated order book of the group stood at Rs 270727 crore as on 31 December 2017, higher by 4.7% on a y-o-y basis. The international order book constituted 25% of the total order book.
L&T said that the board of directors of the company has approved subscription to the equity shares offered by L&T Finance Holdings (LTFH) on a preferential basis up to an amount not exceeding Rs 2000 crore, subject to necessary approvals, including the approval of board of directors and shareholders of LTFH. The exact amount of the subscription would depend on the preferential issue that LTFH would be making to the company, L&T said. The announcement was made after market hours yesterday, 31 January 2018.
Stocks and sectors specific action will be seen based on the sops announced in the Union Budget 2018-19 scheduled today, 1 February 2018.
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The IT industry has been reportedly seeking that adjustments to past years' income emanating from advance price agreements (APAs) should be recognised as income of those years itself. Besides, equalisation levy should be treated as tax on income and be eligible for tax credit in a foreign country to the overseas online ad businesses. The industry is also seeking an extension in the exemptions granted to STP units in relation to procurements, as it used to be before the GST rollout.
Severely impacted by various reforms like RERA, GST and demonetisation, the realty sector is reportedly pinning its hopes on Budget 2018-19 for relief measures like lower taxes and infrastructure status for the sector. Industry players are expecting rationalisation of the GST rates from the current 12% to 6% and bringing stamp duty under the ambit of GST. Single window clearances for all approvals and additional tax incentives for first time home buyers are also expected.
The automobile industry has largely sought rationalization of tax slabs and removal or reduction of cess by the Government in Union Budget 2018-19. The government needs to create an effective and tax-friendly framework for smooth implementation of electrification of India's huge transport fleet.
Bharti Airtel said that it has concluded the deal with Millicom with respect to acquisition of 100% equity interest in Tigo Rwanda. The announcement was made before market hours today, 1 February 2018.
Godrej Properties announced the addition of three new projects, two in Bangalore and one in Noida. GPL has entered into a joint venture with Sai Srushti Group to develop a 100 acres land parcel on NH-648 near Devanahalli town in North Bangalore. This shall be Godrej Properties' first plotted development project and it plans to develop approximately 2 lakh square meters (2.15 million sq. ft.) in the project. The announcement was made before market hours today, 1 February 2018.
The second project, also in Bangalore, is a joint venture with the promoters of Lahari Music Group, south India's biggest music group, to develop 17 acres of land, with the possibility of further extending the development up to 24 acres, in Electronic City Phase- I, abutting the main Wipro Campus in South Bangalore.
MOIL said that it has continued the prevailing prices during the month of February 2018 in respect of all grades of manganese ores and other products except offering discount at 10% on prevailing price as on 1 January 2018 for dispatches made during February 2018 on three grades of fines namely BGF534, DBF487 and UKF532. The announcement was made after market hours yesterday, 31 January 2018.
Sunteck Realty announced about the joint development agreement for development of affordable segment at Naigaon. The agreement was entered with DDPL Global Infrastructure and Unicorn Infraprojects and Estates. The announcement was made after market hours yesterday, 31 January 2018.
NDTV said that the company has received an order from the Income Tax Department levying penalty of Rs 436.80 crore for the assessment year 2009-10. The company is currently examining the aforesaid order and the legal options available to the company. The company will take necessary action(s) accordingly. The announcement was made after market hours yesterday, 31 January 2018.
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