Stock Of The Day: Stock Future Tips
L&T Infotech bags 5-yr contract from Hartford Steam Boiler:
L&T Infotech has been awarded a five-year contract by Hartford Steam Boiler (HSB), a specialty insurer with 150 years of industry leadership in equipment breakdown insurance and a subsidiary of Munich Re. The financial details of the contract were not disclosed. A key objective of this engagement is to deliver innovation & efficiency improvements through transitioning management of over 100 applications to a managed services model enabling HSB to manage by outcomes with an SLA driven approach.
Tata Global Beverage Q2 profit up 48.1% at Rs 108.14 crore:
Tata Global Beverage reported 48.19 per cent increase in consolidated net profit at Rs 108.14 crore for the quarter ended on September 30, 2016, riding on lower commodity costs and lower spends on new initiatives. The company had posted a net profit of Rs 72.97 crore in July-September quarter a year ago. Consolidated total income was down 2.60 per cent to Rs 1,625.97 during the quarter under review as against Rs 1,669.45 crore of the corresponding quarter of the previous fiscal.
HPCL posts ?701-crore profit on higher sales, inventory gains:
Backed by higher sales and inventory gains, Hindustan Petroleum Corporation Ltd (HPCL) posted a net profit of
₹701 crore for the quarter ended September 2016. The public sector oil refining and marketing company had posted a net loss of
₹317 crore in the corresponding quarter previous fiscal. Gross sales for the period stood at
₹47,750 crore up 3.1 per cent. During July-September 2016, the domestic sales of the petroleum products have increased to 8.02 million tonnes from 7.78 million tonnes registering a growth of 3.1 per cent over the corresponding quarter of previous year. Half yearly net profit grew by more than 100 per cent to
₹2,800 crore against
₹1,297 crore for the corresponding period of previous fiscal year. Gross sales for the April-September 2016 stood at
₹99,350 crore against
₹1,01,039 crore in the corresponding period previous fiscal. Pursuant to the approval of shareholders in AGM held on September 8, the company has issued bonus shares in the ratio of two equity shares of
₹10 for one existing equity share of
₹10 each. Consequent to issue of bonus shares, the paid-up capital has increased from
₹338.63 crore to
₹1,015.88 crore.
Religare Enterprises to write off Rs. 794 cr:
Religare Enterprises Ltd subsidiary will write off a total of Rs.793.67 crore on account of non-receipt of dues. The board of directors of Religare Finvest Ltd (RFL), a material subsidiary company...has considered and approved a one-time write-off of the entire amount of Rs. 519.92 crore in the profit and loss account pursuant to non-receipt of dues towards assignment of certain loan accounts by it. The board of directors of RFL have further approved write-off of an entire amount of Rs. 273.75 crore that is overdue in other accounts related to the same transaction.
Nandan Denim Q2 net up 4%:
Nandan Denim Ltd (NDL), posted a net profit ofRs. 16.3 crore for the second quarter ended September 2016 as against Rs. 15.61 crore in the corresponding quarter a year ago, showing a rise of 4.42 per cent. The company's net sales stood at Rs. 303 crore as against Rs. 295 crore in the same quarter last year, up 2.75 per cent on year-on-year basis. The company reported EBITDA margins of 16.23 per cent and PAT margin of 5.38 per cent. EPS for the second quarter of fiscal 2017 stood at Rs. 3.39 for a face value of Rs. 10 per share. For the six-month period, NDL reported net profit of Rs. 32.27 crore, up close to 4 per cent from Rs. 31.11 crore in the corresponding period last year. Net sales in the first-half stood at Rs. 603.12 crore, higher by 5 per cent as against Rs. 575 crore in the corresponding period last year
Wheels India signs tech agreement with Spanish company for wind components:
Wheels India Ltd has signed a technology transfer agreement with Fluitecnik of Spain for hydraulic components used in wind turbines. The company signed this agreement on November 14 in Chennai. Fluitecnik is visiting India as part of a business delegation from the state of Navarra, Spain. Wheels India primarily manufactures automotive wheels, air suspension products but has also diversified into ‘energy equipment parts’ and ‘heavy engineering products’.
BHEL bags export orders from Togo, Benin:
BHEL has expanded its footprint in the international market by securing export orders for supply of industrial motors to the African nations of Togo and Benin. Scancem International DA, Norway (Heidelberg Cement group) has placed the order for the motors for their cement plants, Ciments Du Togo S.A. & Cimbenin S.A, Benin. The motors will be manufactured and supplied by BHEL’s Bhopal unit. BHEL now has footprints in 80 countries across six continents.
L&T Infotech bags 5-yr contract from Hartford Steam Boiler:
L&T Infotech has been awarded a five-year contract by Hartford Steam Boiler (HSB), a specialty insurer with 150 years of industry leadership in equipment breakdown insurance and a subsidiary of Munich Re. The financial details of the contract were not disclosed. A key objective of this engagement is to deliver innovation & efficiency improvements through transitioning management of over 100 applications to a managed services model enabling HSB to manage by outcomes with an SLA driven approach.
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Tata Global Beverage reported 48.19 per cent increase in consolidated net profit at Rs 108.14 crore for the quarter ended on September 30, 2016, riding on lower commodity costs and lower spends on new initiatives. The company had posted a net profit of Rs 72.97 crore in July-September quarter a year ago. Consolidated total income was down 2.60 per cent to Rs 1,625.97 during the quarter under review as against Rs 1,669.45 crore of the corresponding quarter of the previous fiscal.
HPCL posts ?701-crore profit on higher sales, inventory gains:
Backed by higher sales and inventory gains, Hindustan Petroleum Corporation Ltd (HPCL) posted a net profit of
₹701 crore for the quarter ended September 2016. The public sector oil refining and marketing company had posted a net loss of
₹317 crore in the corresponding quarter previous fiscal. Gross sales for the period stood at
₹47,750 crore up 3.1 per cent. During July-September 2016, the domestic sales of the petroleum products have increased to 8.02 million tonnes from 7.78 million tonnes registering a growth of 3.1 per cent over the corresponding quarter of previous year. Half yearly net profit grew by more than 100 per cent to
₹2,800 crore against
₹1,297 crore for the corresponding period of previous fiscal year. Gross sales for the April-September 2016 stood at
₹99,350 crore against
₹1,01,039 crore in the corresponding period previous fiscal. Pursuant to the approval of shareholders in AGM held on September 8, the company has issued bonus shares in the ratio of two equity shares of
₹10 for one existing equity share of
₹10 each. Consequent to issue of bonus shares, the paid-up capital has increased from
₹338.63 crore to
₹1,015.88 crore.
Religare Enterprises to write off Rs. 794 cr:
Religare Enterprises Ltd subsidiary will write off a total of Rs.793.67 crore on account of non-receipt of dues. The board of directors of Religare Finvest Ltd (RFL), a material subsidiary company...has considered and approved a one-time write-off of the entire amount of Rs. 519.92 crore in the profit and loss account pursuant to non-receipt of dues towards assignment of certain loan accounts by it. The board of directors of RFL have further approved write-off of an entire amount of Rs. 273.75 crore that is overdue in other accounts related to the same transaction.
Nandan Denim Q2 net up 4%:
Nandan Denim Ltd (NDL), posted a net profit ofRs. 16.3 crore for the second quarter ended September 2016 as against Rs. 15.61 crore in the corresponding quarter a year ago, showing a rise of 4.42 per cent. The company's net sales stood at Rs. 303 crore as against Rs. 295 crore in the same quarter last year, up 2.75 per cent on year-on-year basis. The company reported EBITDA margins of 16.23 per cent and PAT margin of 5.38 per cent. EPS for the second quarter of fiscal 2017 stood at Rs. 3.39 for a face value of Rs. 10 per share. For the six-month period, NDL reported net profit of Rs. 32.27 crore, up close to 4 per cent from Rs. 31.11 crore in the corresponding period last year. Net sales in the first-half stood at Rs. 603.12 crore, higher by 5 per cent as against Rs. 575 crore in the corresponding period last year
Wheels India signs tech agreement with Spanish company for wind components:
Wheels India Ltd has signed a technology transfer agreement with Fluitecnik of Spain for hydraulic components used in wind turbines. The company signed this agreement on November 14 in Chennai. Fluitecnik is visiting India as part of a business delegation from the state of Navarra, Spain. Wheels India primarily manufactures automotive wheels, air suspension products but has also diversified into ‘energy equipment parts’ and ‘heavy engineering products’.
BHEL bags export orders from Togo, Benin:
BHEL has expanded its footprint in the international market by securing export orders for supply of industrial motors to the African nations of Togo and Benin. Scancem International DA, Norway (Heidelberg Cement group) has placed the order for the motors for their cement plants, Ciments Du Togo S.A. & Cimbenin S.A, Benin. The motors will be manufactured and supplied by BHEL’s Bhopal unit. BHEL now has footprints in 80 countries across six continents.
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