Index heavyweight and cigarette major, ITC unveils Q4 results today, 17 May 2013.
ICICI Bank after trading hours on Thursday, 16 May 2013, said it has received an aggregate equity capital repatriation of Canadian dollar 75 million from ICICI Bank Canada, its wholly owned banking subsidiary in Canada. Post the repatriation, the share capital of ICICI Bank Canada is Canadian dollar 857 million and its capital adequacy ratio continues to be strong, ICICI Bank said in a statement.
ICICI Bank said it already has a strong capital adequacy ratio, and the return of capital by the subsidiary will enhance the bank's ability to optimise capital deployment and return on equity.
Shares of pharmaceutical companies will be in focus after the government reportedly notified new norms that will bring down prices of essential medicines, increase the number of drugs under price control to 652, compared to 74 drugs currently.
State-run Steel Authority of India (Sail) will be in focus after the Union Cabinet on Thursday, 16 May 2013, approved a proposal to allow Sail and another steel PSU RINL to undertake direct chartering of ships without going through the centralized chartering organization under the Ministry of Shipping and Road Transport, namely TRANSCHART. This decision will help in meeting the shortfall in the domestic availability of coking coal. Sail and RINL at present import around 14-15 million tonnes of coking coal annually. As per the existing government policy, vessels for shipment of imported coal by PSUs have to be chartered through TRANSCHART.
With direct chartering of operations, Sail and RINL will have better control of logistics, shipping and operations of importing coal and other raw material from overseas, the government said in a statement. The benefits of flexibilities flowing through direct chartering of operations would bring in a comprehensive logistic solution along with financial benefits to these PSUs, the government said.
More From This Section
Mahindra Satyam's consolidated profit after tax jumped 467.5% to Rs 454 crore on 0.2% decline in revenue to Rs 1936 crore in Q4 March 2013 over Q3 December 2012. The sharp surge in net profit on sequential basis was due to exceptional items. There was a one-time exceptional expense reversal of Rs 134 crore in Q4 March 2013. On the other hand, in Q3 December 2012, the company had incurred exceptional one-time loss of Rs 294.04 crore pertaining to the Aberdeen UK claim settlements. Mahindra Satyam's earnings before interest, taxation, depreciation and amortization (EBITDA) declined 7% to Rs 389.23 crore in Q4 March 2013 over Q3 December 2012. EBITDA margin declined to 20.1% in Q4 March 2013 from 21.6% in Q3 December 2012.
Speaking on the occasion, CP Gurnani, CEO, Mahindra Satyam said, "The large deal win during the quarter is of particular significance and vindicates our investment of time and effort in this area. Our preparedness with Connected Solutions for a Connected World remains positive and we are hopeful of similar wins, which will help us accelerate our growth in the ensuing quarters".
Vineet Nayyar, Chairman, Mahindra Satyam said that the merger of Mahindra Satyam with Tech Mahindra is at its penultimate phase. He added that the merger will embark a new chapter for Mahindra Satyam.
Bajaj Holdings & Investments' consolidated profit after tax rose 5.6% to Rs 664.37 crore on 22.8% rise in total income to 82.55 crore in Q4 March 2013 over Q4 March 2012. The result was announced after market hours on Thursday, 16 May 2013.
Shoppers Stop's board of directors has at its meeting held on 15 May 2013, approved the transfer, sell or disposal through other means, of the business conducted by the company with ELCA Cosmetics, to Gateway Multichannel Retail (India), a wholly owned subsidiary of the company.
Zydus Cadila after market hours on Thursday, 16 May 2013 announced the Day 1 launch of Zolmitriptan orally disintegrating tablets upon receiving the final approval from the US FDA. The company is marketing the product in the strengths of 2.5 mg and 5mg in the US market. The sales of Zolmitriptan, used in the treatment of migraine, was estimated at $175 million in 2012 as per IMS. The group now has 79 approvals and has so far filed 173 ANDAs since the commencement of the filing process in FY 2003-04.
Shares of Bata India turn ex-dividend today, 17 May 2013 for a dividend of Rs 6 per share for the year ended 31 December 2012.
Net profit of Gujarat State Fertilizers & Chemicals declined 74.63% to Rs 58.44 crore in the quarter ended March 2013 as against Rs 230.34 crore during the previous quarter ended March 2012. Sales rose 10.85% to Rs 1696.01 crore in the quarter ended March 2013 as against Rs 1530 crore during the previous quarter ended March 2012.
Tara Jewels reported 46.7% rise in consolidated net profit to Rs 16.43 crore on 7.4% rise in net sales to Rs 467.37 crore in Q4 March 2013 over Q4 March 2012.
Powered by Capital Market - Live News