Reliance Industries (RIL)'s consolidated net profit rose 18.1% to Rs 7113 crore on 13.4% decline in turnover to Rs 71451 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest and tax (EBIT) margin rose by 2.41% to 10.7% in Q1 June 2016 over that from Q1 June 2015. The result was announced after market hours on Friday, 15 July 2016. Decline in revenue was led by the 26% decline in benchmark (Brent) oil price which averaged at $45.6 per barrel in Q1 June 2016 as compared to $61.9 per barrel in Q1 June 2015. Impact of lower prices was partially offset by higher volumes in refining and petrochemicals segments. Gross refining margin rose to $11.5 per barrel in Q1 June 2016 from $10.4 per barrel in Q1 June 2015.
PSU OMCs and auto stocks will be in focus after PSU OMCs cut petrol price by Rs 2.25 a litre and diesel by 42 paise a litre late on Friday, 15 July 2016. The prices took effect from Saturday, 16 July 2016..
Hindustan Unilever (HUL), Tayo Rolls, Span Diagnostics, Mindtree, Hinduja Foundries, Gruh Finance, Exide Industries, Bharat Bijlee, and Aarey Drugs Pharmaceuticals will announce their quarterly results today, 18 July 2016.
IDFC Bank and Axis Bank will be in focus. The Reserve Bank of India on Friday, 15 July 2016 notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now enhance investment from existing 24% to 46% of the paid up capital of IDFC Bank under the portfolio investment scheme (PIS). The RBI further notified that the total foreign investment from all sources i.e. foreign institutional investors (FII)/registered foreign portfolios investors (RFPIs)/foreign direct investment (FDI)/non-resident indians (NRI)/persons of Indian origin (PIO)/American depository receipts (ADR)/Global depository receipts (GDR)/ in IDFC Bank shall not exceed 46%. The RBI has stated that IDFC Bank has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.
The Reserve Bank of India on Friday, 15 July 2016 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can raise stake from existing 62 per cent up to 74% of the paid up capital of Axis Bank under the Portfolio Investment Scheme (PIS). The Reserve Bank further notified that the total foreign investment in the bank shall not exceed 74% of paid up capital. The Reserve Bank has stated that the Axis Bank has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.
Glenmark Pharmaceuticals announced before market hours today, 18 July 2016 that subsequent to the rating received by the leading credit agencies in the world i.e. S&P and Fitch, the company has decided to tap into the International Bond market and is planning to raise around $200 million by issuing dollar denominated non-convertible unsecured bonds. The net proceeds will be used for repaying the existing debt. These bonds are planned to be listed on the Singapore Stock Exchange in order to establish the company's track record in the globally recognized bond market.
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Bharti Airtel announced on Sunday, 17 July 2016 an effective reduction in pre-paid data tariffs by increasing data benefits on some of its pre-paid data recharge packs. Airtel customers will now enjoy more value on these existing packs and can add to their mobile internet experience by staying online longer and download more of their favorite content.
Under the revised data benefits, the Rs 655 4G/3G monthly recharge pack will now offer 5 GB data vs 3 GB earlier, an increase of 67%. Similarly, the Rs 455 pack 4G/3G pack now offers 50% more data by increasing data benefit to 3 GB from 2 GB. The Rs 989 4G/3G pack will now offer 10 GB data vs 6.5 GB earlier, offering 54% more benefits. 2G/3G/4G Sachet Packs also see major increase in benefits. The Rs 25 2G pack now offers 45% more data at 145 MB vs 100 MB earlier, while the Rs 145 4G/3G pack now offers 32% more data benefits at 580 MB vs 440 MB earlier. Even the Rs 5 one day 2G data pack benefits have been increased by 48% to 30 MB keeping in mind non-regular/first time users, particularly in rural markets.
Tata Motors turns ex-dividend today, 18 July 2016 for dividend of Rs 0.20 per share for the year ended 31 March 2016 (FY 2016).
Dr Reddy's Laboratories turns ex-dividend today, 18 July 2016 for dividend of Rs 20 per share for the year ended 31 March 2016 (FY 2016).
Alstom T&D India turns ex-dividend today, 18 July 2016 for dividend of Rs 1.80 per share for the year ended 31 March 2016 (FY 2016).
Agro Tech Foods turns ex-dividend today, 18 July 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).
Century Textiles Industries turns ex-dividend today, 18 July 2016 for dividend of Rs 5.50 per share for the year ended 31 March 2016 (FY 2016).
Elecon Engineering Company turns ex-dividend today, 18 July 2016 for dividend of Rs 1.10 per share for the year ended 31 March 2016 (FY 2016).
V-Guard Industries turns ex-dividend today, 18 July 2016 for final dividend of Rs 2.50 per share for the year ended 31 March 2016 (FY 2016).
Shriram Transport Finance Company turns ex-dividend today, 18 July 2016 for final dividend of Rs 6 per share for the year ended 31 March 2016 (FY 2016).
Visaka Industries turns ex-dividend today, 18 July 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).
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