GAIL (India) said it has commenced 100% construction work in Kerala stretch of Kochi - Koottanad - Mangaluru-Bengaluru Pipeline (KKMBPL) project. GAIL started its foray into the state of Kerala with KKMBPL with a total project cost of Rs 3263 crore. Despite the initial hurdle, the Kerala stretch of the project will gain impetus with commencement of 100% construction work. This pipeline will form part of the National Gas Grid and it will go a long way in fulfilling the vision of the Government of India towards building a gas based economy, the company said. The announcement was made after market hours yesterday, 2 August 2017.
Wipro and Tricentis announced a partnership for quality engineering. This partnership with Tricentis will strengthen Wipro's quality engineering and testing services capabilities, by integrating Tricentis Tosca, a continuous testing platform, with Wipro AssureNXT, a managed services QA platform combined with the capabilities of Wipro HOLMES Artificial Intelligence Platform as a part of the broader automaton ecosystem. The announcement was made after market hours yesterday, 2 August 2017.
Among prominent companies, Colgate-Palmolive (India), Indian Oil Corporation and Titan Company will announce April-June 2017 results today, 3 August 2017.
Bata India's net profit rose 19.7% to Rs 60.43 crore on 11% increase in net sales to Rs 736.06 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 2 August 2017.
Bata India said its focus on lifestyle segment, improved visual merchandising yielded an impressive 10% growth in same store sales and opening of 40 new stores resulted in 15% growth in retail turnover for this quarter. Additional footfalls were generated through various marketing initiatives including the recently launched TV campaign. The company saw a gross margin improvement of 1% through introduction of value added products and change in the product mix.
Majesco said it entered into a deed of assignment dated 1 August 2017 for assignment of all its rights, title and interest in relation to the property located in Pune, Maharashtra in favor of A.P. Estates for a total consideration of Rs 15.55 crore. The said transaction has been completed on 1 August 2017. The announcement was made after market hours yesterday, 2 August 2017.
On a consolidated basis, Sical Logistics' net profit rose 75.86% to Rs 11.80 crore on 14.40% increase in net sales to Rs 244.76 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 2 August 2017.
Meanwhile, Sical Logistics said it will provide corporate guarantee to the extent of Rs 40 crore to Kamarajar Port on behalf of the company's subsidiary for execution of the modification project. The announcement was made after market hours yesterday, 2 August 2017.
Bajaj Finance has entered into a subscription agreement with One MobiKwik Systems (MobiKwik) for acquisition of 10 equity shares and 271,050 compulsory convertible preference shares (CCPS). Post conversion of CCPS, the company would hold approximately 10.83% of equity in MobiKwik on a fully diluted basis. The value of the transaction envisaged is approximately Rs 225 crore. The conclusion of the transaction is subject to fulfillment of certain conditions in due course. The company has also entered into a shareholders agreement, which would become effective on conclusion of the above investment transaction. The announcement was made after market hours yesterday, 2 August 2017.
Karnataka Bank, as part of its asset liability management, has introduced four interest variants on the balances maintained in savings bank (SB) accounts by its customers. For daily balances of above 1 crore, the interest rate is revised to 5% per annum (p.a.), from the existing 4% p.a., whereas for daily balances of 50 lakhs to 1 crore, the applicable interest rate is 4% p.a. Similarly for daily balance in the range of more than 1 lakh to 50 lakhs, the interest rate is reduced to 3.5% from the existing 4% and balance below 1 lakh, the revised rate is 3% from the existing 4%. The decision is effective from Thursday, 3 August 2017. The above interest rate is applicable to resident Indians and also to SB-NRO & NRE accounts. The announcement was made after market hours yesterday, 2 August 2017.
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