Grasim Industries said that board of directors on Saturday, 10 September 2016 approved the proposal to increase the limit for investment in the equity share capital of the company by registered foreign portfolio investors from 24% to 30% of the company's paid-up equity share capital of the company. The announcement was made on Saturday, 10 September 2016.
Maruti Suzuki India clarified that the company's Chairman RC Bhargava's statement in the Annual General Meeting (AGM) held on 8 September 2016 was limited to acknowledgement that he would convey requests made by the shareholders during the AGM for consideration of stock split to the board of directors. The company issued the clarification after market hours on Friday, 9 September 2016 after reports stated that Maruti will consider stock split.
Tata Steel announces Q1 result today, 12 September 2016.
Cipla turns ex-dividend today, 12 September 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).
L&T will be in focus as the initial public offer (IPO) of L&T Technology Services opens for bidding today, 12 September 2016. The IPO closes on Thursday, 15 September 2016. The price band for the IPO has been fixed at Rs 850-860 per share. The IPO comprises of an offer for sale of 1.04 crore shares by engineering and construction major L&T. L&T Technology Services will not receive any funds from the IPO. L&T currently owns 100% stake in L&T Technology Services. Its holding will fall to 89.77% after the IPO. The offer would constitute 10.2% of post-offer paid-up equity share capital of the company. L&T Technology Services provides Engineering, Research and Development (ER&D) services to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.
Jaypee Infratech posted net loss of Rs 35.67 crore in Q1 June 2016 compared with net profit of Rs 20.86 crore in Q1 June 2015. Total income jumped 113.64% to Rs 1099.33 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.
Balkrishna Industries' net profit rose 46.64% to Rs 149.05 crore on 1.25% rise in total income to Rs 979.78 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.
Sobha's consolidated net profit rose 1.98% to Rs 35.90 crore on 24.63% rise in total income to Rs 578.20 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.
Reliance Defence and Engineering reported net loss of Rs 134.50 crore in Q1 June 2016 compared with net loss of Rs 167.27 crore in Q1 June 2015. Total income dropped 34.21% to Rs 74.18 crore in Q1 June 2106 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.
Jaiprakash Associates reported net loss of Rs 602.95 crore in Q1 June 2016 compared with net loss of Rs 482.43 crore in Q1 June 2015. Total income decreased 26.99% to Rs 1747.76 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Friday, 9 September 2016.
Jaiprakash Associates said on Saturday, 10 September 2016 that Unit-2 of 660 megawatts (MW) of 1980 MW Bara Supercritical Thermal Power Project, being implemented by Prayagraj Power Generation Company Limited (a material un-listed subsidiary of Jaiprakash Power Ventures Limited (JPVL) a subsidiary of the company), has successfully commenced commercial operations on September 10, 2016.
Housing Development and Infrastructure's consolidated net profit fell 30% to Rs 40.89 crore on 2.7% decline in total income to Rs 265.21 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.
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