Wipro's consolidated net profit attributable to equity holders fell 6.38% to Rs 2051.80 crore on 11.12% growth in gross revenue to Rs 13599.20 crore in Q1 June 2016 over Q1 June 2015. The results are as per International Financial Reporting Standards (IFRS). Revenue from IT services business rose 2.6% to $1,930.8 million in Q1 June 2016 over Q4 March 2016. Non-GAAP constant currency IT services segment revenue in dollar terms grew 2% sequentially and 9.5% on year-on-year basis. The company announced the first quarter results after trading hours yesterday, 19 July 2016.
Wipro expects a muted 0.01% to 0.99% growth in revenue from IT services business at between $1,931 million to $1,950 million in Q2 September 2016 over Q1 June 2016. Wipro's management expects the trajectory of growth to build gradually over the course of the year based on execution with regard to the company's strategic themes and as the company makes progress towards achieving a sustainable growth trajectory.
Meanwhile, Wipro and Viteos Group have cancelled the definitive agreement signed in December 2015 whereby Wipro had agreed to acquire Viteos Group. Wipro said in a statement that both the parties have decided not to proceed with the deal due to inordinate delays in completion of closing conditions that exceeded the target closing date under the terms of the agreement.
Shree Cement announced after trading hours yesterday, 19 July 2016 that the company has completed the up-gradation of preheater of clinker line of Unit-I at Beawar (Rajasthan) on 15 July 2016. Consequently, the clinker capacity of Unit-I stands increased from 1.1 million tonnes per annum (MTPA) to 1.4 MTPA.
Sasken Communication Technologies, Crompton Greaves, Hindustan Zinc, Gammon India among others will announce quarterly results today, 20 July 2016.
DLF said before market hours today, 20 July 2016 that it has been jointly decided by DLF and Ridgewood Holdings to realign the current shareholding arrangement in the JV companies in order to maintain continued focus of future development of various projects. Given the current strategy coupled with market conditions, DLF is currently focused on select projects in certain micro markets.
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As a part of strategic objectives, DLF through its wholly-owned subsidiary DLF Home Developers had entered into joint venture agreements with Ridgewood Holdings, which term shall include its affiliates who acquired shares in accordance with the terms of the definitive documents for development of seven residential projects in the cities of Bangalore, Chennai, Kochi and Indore.
Indiabulls Housing Finance said before market hours today, 20 July 2016 that the company proposes to issue 250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 25 crore plus Greenshoe Option, on private placement basis.
Karnataka Bank turns ex-dividend today, 20 July 2016 for dividend of Rs 5 per share for the year ended 31 March 2016 (FY 2016).
Crisil's consolidated net profit rose 7.53% to Rs 69.81 crore on 13.88% rise in total income to Rs 387.09 crore in Q2 June 2016 over Q2 June 2015. The company announced the first quarter results after trading hours yesterday, 19 July 2016.
Hindalco Industries announced after market hours yesterday, 19 July 2016 that it has received Reserve Bank of India's approval and has accepted the offer in connection with off-market takeover offer made by METALS X to acquire shares of Aditya Birla Minerals, a subsidiary of Hindalco Industries under the relevant Laws of Australia,.
Anant Raj announced after market hours yesterday, 19 July 2016 that the board of directors of the company at its meeting held on 19 July 2016, has considered and approved the composite scheme of arrangement of demerger of Real Estate Division (Demerged Undertaking of Anant Raj Agencies Private Limited (ARAPL/ demerged company/amalgamating company) into Tauras Promoters & Developers Private (TPDPL/resulting company and subsequent amalgamation of remaining ARAPL with the company. It has also approved the demerger of Project Division (demerged undertaking) of the company into Anant Raj Global Limited (ARGL/resulting company) (a wholly owned subsidiary of the company, under incorporation) and subsequent listing of ARGL at BSE (BSE) and National Stock Exchange of India (NSE).
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