ICICI Bank, Bank of Baroda in focus ahead of Q4 results
India’s largest private sector bank by market capitalisation ICICI Bank will unveil its Q4 March 2011 results today, 28 April 2011. Bank of Baroda, LIC Housing Finance, Crompton Greaves, Biocon, JSW Energy, Alfa Laval, BASF India, Bata India, GTL, Gujarat Gas Company, HCL Infosystems, Hexaware Technologies, Kansai Nerolac India, Kesoram Industries, Nagarjuna Fertilisers, Navneet Publications, Polaris Software, United Breweries Holdings and Vijaya Bank, among others, will declare January-March 2011 quarter results today, 28 April 2011.
Oil and Natural Gas Corporation (ONGC)’s production of oil and oil equivalent gas reportedly rose 1.8% to 62.03 million tonnes in the year ended March 2011 over the year ended March 2010. Of this, 9.4 million tonnes came from the group’s overseas operations. The state-run explorer made 24 discoveries in India in the year ended March 2011, of which nine were offshore discoveries. It also discovered oil and gas at two blocks in Gujarat.
Thermax, solution provider in energy and environment engineering, has bagged an order worth Rs. 366 crore for setting up a 120 megawatt (MW) captive power plant. However, the company did not mention the name of the client. The scope of work includes supply of two blast furnace gas-fired boilers and one steam turbine generator, along with necessary auxiliaries and power evacuation system, the filing added.
Mahindra & Mahindra (M&M) has announced the launch of its next generation passenger carrier Maxximo Mini Van priced at Rs. 3.2 lakh. Maxximo Mini Van will compete with Tata Magic and Maruti Omni in the mini van segments.
Tour operator Cox & Kings’ board has approved a two-for-one stock split. The company’s board also approved raising up to Rs. 1500 crore through issue of further shares/convertible instruments or any other instruments.
Bajaj Hindusthan’s board will meet on 30 April 2011, to consider a proposal of issuing equity shares on rights basis to the existing shareholders of the company. The company will also consider the un-audited financial results for Q2 March 2011 on the same day.
Net profit of Exide Industries rose 21.65% to Rs. 163.67 crore on 19.27% rise in net sales to Rs. 1226.06 crore in the quarter ended March 2011 over the quarter ended March 2010.
Net profit of Ingersoll-Rand India rose 24.70% to Rs. 18.58 crore on 17.51% rise in net sales to Rs. 116.88 crore in the quarter ended March 2011 over the quarter ended March 2010.
Net profit of Mangalam Cement declined 14.90% to Rs. 19.48 crore on 10.67% decline in net sales to Rs. 134.22 crore in the quarter ended March 2011 over the quarter ended March 2010.
United Breweries’ net profit rose 53.3% to Rs. 40.09 crore on 46.5% increase in net sales to Rs. 839.59 crore in the quarter ended March 2011 over the quarter ended March 2010. As per the scheme of amalgamation, Associated Breweries & Distilleries, Millennium Alcobev and Empee Breweries were amalgamated with the company with effect from 1 April 2010. Hence, the figures are not comparable with the corresponding quarter of the previous year.
Ramky Infrastructure reportedly plans to build three captive power plants with an investment of Rs. 2500 crore that will ensure uninterrupted power supply to its industrial parks. The plants, which would come up in the next 3-5 years, would be either dual-fuel or gas-based.
Competition Commission of India has reportedly selected HCL Technologies to develop an electronic system ensuring confidentiality of sensitive documents submitted by companies for merger and acquisition scrutiny. HCL was chosen through a competitive bidding process.
Petronet LNG will reportedly diversify into commercial power generation and city gas distribution. The diversification process has already been initiated and talks are on with promoters GAIL India , ONGC, Indian Oil Corporaton and BPCL.
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