State Bank of India (SBI) after trading hours yesterday, 17 May 2016, announced that it is seeking in principle sanction of the Government of India (GoI) to enter into negotiation with its 5 subsidiary banks viz. State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore to acquire their businesses including assets and liabilities. The decision is purely exploratory at this stage and there is no certainty in relation to SBI completing the acquisitions, SBI said. SBI's board of directors will take a final call after evaluating all the relevant considerations. SBI also said that it is considering acquisition of Bharatiya Mahila Bank.
Axis Bank has kept its lending rates based on marginal cost of funds unchanged effective from 18 May 2016. The bank's Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.95%, the rate for one month will be 9.05% and for three months it will be 9.25%. The MCLR on 6-month loans will be 9.3% and for one-year loans the rate will be 9.35%, the bank said. MCLR on two-year loans will be 9.45% and for three-year loans the rate will be 9.5%. The announcement was made after market hours yesterday, 17 May 2016.
All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.
Punjab National Bank is scheduled to announce its Q4 March 2016 results today, 18 May 2016.
United Bank of lndia reported net loss of Rs 413.04 crore in Q4 March 2016 compared with net profit of Rs 104.52 crore in Q4 March 2015. Total income fell 12.71% to Rs 2752.35 crore in Q4 March 2016 over Q4 March 2015. The bank's gross non-performing assets (NPAs) stood at Rs 9471.01 crore as on 31 March 2016 as against Rs 6721.53 crore as on 31 December 2015 and Rs 6552.91 crore as on 31 March 2015. The ratio of gross NPAs to gross advances stood at 13.26% as on 31 March 2016 as against 9.57% as on 31 December 2015 and 9.49% as on 31 March 2015. The ratio of net NPAs to net advances stood at 9.04% as on 31 March 2016 as against 5.91% as on 31 December 2015 and 6.22% as on 31 March 2015. The bank's provisions and contingencies (excluding tax provisions) rose 73.55% to Rs 1173.43 crore in Q4 March 2016 over Q4 March 2015. The provision coverage ratio stood at 53.36% as on 31 March 2016. The result was announced after market hours yesterday, 17 May 2016.
TCS announced after market hours yesterday, 17 May 2016, that IDBI Bank's financial services arm IDBI Capital Market Services has gone operational with the securities trading and processing solution from TCS BaNCS for its online brokerage business.
GlaxoSmithkline Consumer Healthcare's (GSK Consumer Healthcare) net profit fell 8.18% to Rs 180.68 crore on 8.51% decline in total income to Rs 1166.40 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 17 May 2016.
Vascon Engineers reported consolidated net profit of Rs 6.67 crore in Q4 March 2016 as against net loss of Rs 75.62 crore in Q4 March 2015. Net total income from operations rose 4.64% to Rs 180.56 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 17 May 2016.
Nestle India turns ex-dividend today, 18 May 2016 for final dividend of Rs 18.50 per share for the year ended 31 December 2015 (FY 2015). The stock also turns ex-dividend today, 18 May 2016 for interim dividend of Rs 12 per share for the year ending 31 December 2016 (FY 2016).
MIC Electronics said that the board of directors of the company at its meeting held yesterday, 17 May 2016, concluded issue and allotment of 1.08 crore equity shares by conversion of preferential convertible equity share warrants to the promoters and investors in 1:1 ratio. A total of 93.22 lakh shares were alloted to three promoters and a total of 15 lakh shares were alloted to five investors. The announcement was made after market hours yesterday, 17 May 2016.
Powered by Capital Market - Live News
