² TTK Prestige has announced its entry into the home cleaning market. (BL)
² Prime Focus Group has sold its 30% stake in Digital Domain-Reliance, LLC (DD-Reliance) to the existing holder of the remaining 70% stake in DD-Reliance, wholly-owned by Digital Domain Holdings Ltd (DDHL). (BL)
² Procter & Gamble (P&G) is moving away from unprofitable businesses in India as it seeks to improve its domestic performance. (BL)
² With Oman Oil Company reluctant to put more money, the government allowed Bharat Petroleum Corp Ltd (BPCL) to fund the Rs30bn expansion of Bina refinery in Madhya Pradesh by putting in more equity. (ET)
² Godrej Consumer Products Ltd (GCPL) has completed acquisition of US-based Strength of Nature LLC after approval from the Federal Trade Commission and US Department of Justice. (ET)
² Government invited bids from merchant bankers to assist in its stake sale in three PSUs – Oil India Ltd, National Fertilizers Ltd and RCF - which could fetch around Rs22.60bn to the exchequer. (ET)
² Tata Power has commissioned its 44MW Lahori wind farm project, located in Shajapur district of Madhya Pradesh. (ET)
² Berger Paints India has entered into business transfer agreement with its joint venture (JV) firm BNB Coatings. (ET)
² Canara Bank has raised Rs30bn by issuing Basel-III compliant tier-II bonds to augment capital base and fund growth. (BS)
² Western Coalfields (WCL), a Coal India subsidiary, is looking ahead to acquire nearly 4,000 hectares of land in Maharashtra and Madhya Pradesh this fiscal year to open new projects. (BS)
² Idea announced the availability of its 4G LTE services in 84 more towns of the Andhra Pradesh and Telangana telcom circle. With this Idea 4G has expanded to a total of 121 towns in the region. (ET)
² Lupin has strengthened its branded drug portfolio in the US market with the relaunch of a drug to control postpartum hemorrhage (post delivery blood loss). (BS)
Economy snippets
² India added a record 3,460MW of wind energy capacity in 2015-16, way ahead of its target of 2,400MW. (ET)
² Aggregate deposits as well as credit forwarded by banks dropped sharply in the first fortnight of the fiscal year 2016-17, as window dressing of banks' balance sheets start reversing. (ET)
² The coal ministry has identified five coal mines for allocation to state-owned power utilities in an effort to smoothen power supply to consumers. (ET)
² A critical transmission link between North India and rest of the country has resulted in power prices shooting to Rs6/unit in South India and average price touching around Rs5/unit. Average prices a week back was around Rs3.5/unit. (ET)
² As much as Rs420bn was invested in renewable energy projects last fiscal with Madhya Pradesh remaining at the top with maximum inflow at Rs88.67bn. (ET)
Result table
Rs m | Revenue | YoY % | PAT | YoY % |
ACC | 30,324 | (3.4) | 2,270 | (4.1) |
Ambuja Cements | 24,183 | (0.3) | 3,038 | (4.5) |
HCL Technologies | 1,06,980 | 15.4 | 19,260 | 14.4 |
Idea Cellular | 95,241 | 10.6 | 5,756 | (38.9) |
Kajaria Ceramics | 6,595 | 10.9 | 660 | 27.8 |
Vedanta | 1,73,550 | (1.7) | (1,11,813) | NM |
Warm Regards,
Amar Ambani
IIFL
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