MphasiS reported 9.12% fall in consolidated net profit to Rs 190.22 crore on 20.04% growth in total income to Rs 1616.18 crore in Q4 October 2013 over Q4 October 2012. The result was announced after market hours on Thursday, 5 December 2013.
On sequential basis, consolidated revenue rose 3.5% to Rs 1594 crore in Q4 October 2013. Operating profit on QoQ basis remained flat at Rs 244 crore in Q4 October 2013.
MphasiS' consolidated net profit declined 6.12% to Rs 743.80 crore on 7.44% growth in total income to Rs 5936.78 crore in the year ended 31 October 2013 over the year ended 31 October 2012.
M&M announced after market hours on Thursday, 5 December 2013 that it would carry out preventive replacement of one part in its Scorpio Ex variant. This is in keeping with its customer centric approach as well as in compliance with the recently announced voluntary code on vehicle recall.
M&M will carry out preventive replacement of a pressure regulating valve in 800 units of only Scorpio's Ex variant which were manufactured between October/ November 2013. This replacement would be carried out with immediate effect and would be done free of cost for Scorpio Ex customers who would be individually contacted by the company/authorized dealers.
The recall is limited only to the Scorpio Ex variant manufactured during the said period and does not affect other Scorpio variants.
IT stocks may gain on positive economic data in US. US is the biggest outsourcing market for the Indian IT firms. US gross domestic product climbed at a 3.6% annualized rate in the third quarter, up from an initial estimate of 2.8% and the strongest growth since the first quarter of 2012, data yesterday showed. Claims for unemployment benefits decreased 23,000 to 298,000 in the week ended Nov. 30.
Britannia Industries after trading hours on Thursday, 5 December 2013, said its board has approved allotment of 1 lakh equity shares of the company to Managing Director Ms. Vinita Bali on exercise of options granted to her at an exercise price of Rs 528.75 per equity share under the Employee Stock Option Scheme (ESOS) as fully paid-up.
Punjab National Bank after trading hours on Thursday, 5 December 2013, said it is seeking approval of shareholders at EGM to be held on 16 December 2013 for allotment of 85.96 lakh equity shares to the majority shareholder viz. the Government of India (GoI) at issue price of Rs 581.63 per share. The state-run bank said the issue price and the number of shares to be issued to GoI has been revised due to change in the relevant date due to the last moment change in holiday on account of Muharram from 14 November 2013 to 15 November 2013.
Private sector banks Kotak Mahindra Bank and HDFC Bank have reportedly raised interest rates on credit cards by 10 to 20 basis points on concerns of higher delinquencies given the sluggish economic environment.
Saint Gobain Sekurit India said that Grindwell Norton, the transferee company which had sought the approval of its shareholders for the scheme of amalgamation, Saint-Gobain Crystals and Detectors India and Saint-Gobain Sekurit India with Grindwell Norton and their respective shareholders and creditors, was not passed with requisite majority.
IFB Agro Industries said that commercial production at its Dankuni unit commenced from 2 December 2013.
Kohinoor Foods has allotted 70.48 lakh equity shares of Rs 160 each to Al Dahra International Investments LLC, UAE, after receiving the total consideration of Rs 112.77 crore.
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