TCS after market hours on Friday, 23 October 2015, announced that it has partnered with Symantec Corporation, a global leader in information protection and security software, to provide analytics driven security services. The partnership will enable customers to leverage business opportunities, reduce costs and improve productivity through the combination of TCS' security industry expertise with Symantec's security technologies, TCS said in a statement.
Asian Paints' net profit rose 11.92% to Rs 364.48 crore on 2.61% increase in total income to Rs 3122.98 crore in Q2 September 2015 over Q2 September 2014. The result was announced after trading hours on Friday, 23 October 2015.
On a consolidated basis, net profit rose 14.89% to Rs 399 crore on 4.31% increase in total income to Rs 3836.87 crore in Q2 September 2015 over Q2 September 2014. The consolidated results for Q2 September 2015 include financials of Kadisco Paint and Adhesive Industry Share Company, (Ethiopia) in which the company's wholly owned subsidiary, Berger International Private Limited, Singapore acquired 51% stake on 9 February 2015. In view of this, the results for the quarter ended 30 September 2015 are not comparable with the results for the corresponding previous period, Asian Paints said.
L&T Finance Holdings' (LTFH) consolidated net profit rose 18.59% to Rs 215.41 crore on 15.81% growth in total income to Rs 1837.52 crore in Q2 September 2015 over Q2 September 2014. The result was announced on Saturday, 24 October 2015.
LTFH's loans & advances rose 19% to Rs 50986 crore as on 30 September 2015, compared with Rs 42762 crore as on 30 September 2014.
With regard to its future business outlook, LTFH said that consolidating and strengthening its presence in retail B2C products (tractors, two-wheelers, microfinance and housing finance) and futher enhancing its position as a leading financier of operational projects with particular emphasis on renewables and roads will continue to be the key growth drivers for the current financial year. LTFH expects its overall asset growth for the current financial year to be around 25%.
Power Grid Corporation of India (PGCIL) will be in focus. With regard to news item titled "Power Grid wins Rs.8000-cr transmission project in AP", PGCIL after market hours on Friday, 23 October 2015 said that the news item refers to the transmission system for strengthening of transmission system beyond Vemagiri Project under tariff based competitive bidding for which PGCIL had submitted its bid. The financial bids for the project were opened on 21 October 2015. However, PGCIL has not received any letter of intent (LoI)/formal communication from the competent authority declaring as the successful bidder for the transmission project. Once LoI/formal communication is received from the competent authority, the same will be informed to the stock exchanges, PGCIL said. PGCIL further said it is not aware as to how the cost of Rs 8000 crore for the project has been arrived at in media reports.
Rallis India' consolidated net profit fell 21.91% to Rs 57 crore on 21.38% decline in net sales to Rs 500 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours on Friday, 23 October 2015.
Mr. V Shankar, Managing Director and CEO of Rallis India said that due to monsoon deficiency, the crop acreages growth and yields have been impacted. Coupled with lower netbacks for farmers, it has put enormous pressure for the industry, Shankar said. Current reservoir levels in Maharashtra & Southern states of India are low though showers received towards the end of September 2015 have increased overall sentiments for Q3 December 2015, Shankar said. He further said that the international business also faced pressure in the major markets of Brazil & USA. Brazil is reeling from its worst drought of over 80 years and currency devaluation impacting demand. In USA, lower crop commodity prices and higher inventory impacted consumption. The management looks forward to market picking up in the latter half of the current financial year.
Indian Terrain Fashions' board of directors at its meeting held on Friday, 23 October 2015, approved 5-for-1 stock split. The announcement was made after market hours on Friday, 23 October 2015.
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