TCS' consolidated net profit excluding one time special employee reward rose 8.35% to Rs 5773 crore on 1.14% decline in income to Rs 24220 crore in Q4 March 2015 over Q3 December 2014. The result was announced after market hours yesterday, 16 April 2015. TCS' reported net profit during the quarter fell sharply due to one time special employee reward. Consolidated net profit dropped 30.31% to Rs 3713 crore in Q4 March 2015 over Q3 December 2014. TCS said that it will pay employees a special reward or one-time bonus to mark the 10th anniversary of the company's initial public offering in 2004. For the company, the total consideration for this special reward to employees will be Rs 2628 crore.
Looking forward to financial year (FY) 2015-16, CEO and MD of TCS, N. Chandrasekaran said that the company's investments in platforms, digital and automation are gaining traction with clients and together with its market investments in USA, Europe and Japan, the company is upbeat that the coming quarters will bring more opportunities to partner with customers across multiple industries.
TCS said that the board of directors of the company at its meeting held on 16 April 2015 have recommended a final dividend of Rs 24 per share for the year ended 31 March 2015 (FY 2015).
Among key results, Reliance Industries, Crisil, and Delta Corp are scheduled to announce their results for the quarter ended 31 March 2015 today, 17 April 2015.
Bank stocks will be in focus after the Reserve Bank of India (RBI) said in a notification issued to commercial banks yesterday, 16 April 2015, that it has been decided by Government of India (GoI) to implement the Interest Subvention Scheme for 2015-16 for short-term crop loans until 30 June 2015 on the same terms and conditions approved for the scheme for 2014-15 as an interim measure. The RBI stated that GoI is examining various alternative approaches for improving the efficacy of the Interest Subvention Scheme for short-term crop loans and its finalization may take some time.
Bharat Heavy Electricals (Bhel) will be in focus, With respect to news article titled "BHEL, Russian firm INTMA ink pact for power plant in Kazakhstan", Bhel has clarified after market hours yesterday, 16 April 2015, that the subject matter is at a proposal stage only and as such is not price sensitive information. The subject media report has been released by an independent media services agency covering Hannover Messe, Germany, where Bhel is participating as an exhibitor, Bhel added.
D B Corp announced after market hours yesterday, 16 April 2015, that a tripartite share subscription and shareholder's agreement has been executed among D B Corp, DB Infomedia, a wholly owned subsidiary of D B Corp and Mr. Varun Malhotra. Vide this agreement, D B Corp will be allotted 10 lakh compulsorily convertible debentures (CCDs) of Rs 10 each at par and Mr. Varun Malhotra will be allotted 5,000 equity shares of Rs 10 each at par in DB Infomedia Pvt Ltd.
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Fineotex Chemical announced after market hours yesterday, 16 April 2015, that the board of directors of the company at its Meeting held on 16 April 2015, have approved 2 for 1 stock split.
MindTree's consolidated net profit rose 8.6% to Rs 128.70 crore on 0.7% rise in revenue to Rs 918.10 crore in Q4 March 2015 over Q3 December 2014.
MindTree said that the board of directors of the company at its meeting held on 16 April 2015 have recommended a final dividend of Rs 10 per share for the year ended 31 March 2015. Accordingly, the cumulative dividend declared by the board of directors for the year ended 31 March 2015 aggregated to Rs 17 per share.
Rollatainers announced after market hours yesterday, 16 April 2015, that the Board of Directors of the company at its meeting held on 16 April 2015, has approved 5 for 1 stock split.
Pidilite Industries announced after market hours yesterday, 16 April 2015, that Nina Waterproofing Systems (NWSP), a subsidiary of Pidilite Industries has acquired the waterproofing business of Nina Concrete Systems (NCS) on a slump sale basis. PIL holds 70% of the paid up capital in NWSP. The waterproofing business under the brand name NINA was established in 1965. NINA is recognized as one of the leading waterproofing solution contractor in India. It offers end-to-end solutions in waterproofing. NINA has its major presence across the construction spectrum - including residential, commercial, industrial, institutional and Infrastructure segments.
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