Tata Consultancy Services BSE -2.94 % (TCS): The IT major on Thursday reported a 2.9 per cent QoQ rise in net profit to Rs 6,778 crore for the December quarter, which was higher than Rs 6,432 crore profit anticipated by analysts at an ET Now poll.
Earnings Today: InfosysBSE -0.68 %, Gruh FinanceBSE -0.29 %, Multi Commodity Exchange, Goa Carbon and IL&FS Transportation Networks will announce their financial results for the quarter ended December 31, 2016 on Friday.
Vedanta and Cairn India: Vedanta proposed to acquire 4.78 crore shares of Cairn IndiaBSE -0.94 %, according to agencies.
Hathway Cable BSE 0.82 % & Datacom: The board of the company has approved withdrawal of the scheme of demerger of the Broadband business of the company into Hathway Broadband. It also rescinded the earlier decision taken at its meeting held on May 26, 2016 to merge the three wholly owned subsidiaries (WOS) of the company into the company. Hathway Cable also got in-principle approval for spin off the CATV business of the company into the company’s WOS – Hathway Datacom Hathway Datacom Central Private Limited.
Cyient: The company reported 3.17 per cent QoQ fall in its consolidated net profit at Rs 94.16 crore for the quarter ended December 31, 2016 against Rs 97.25 crore in the sequential quarter ended September 30, 2016. Bottom line of the company grew 13.80 per cent on a year-on year-basis.
Reliance Industrial Infrastructure BSE 2.92 % Ltd: The company on Thursday after market hours reported a net profit of Rs 2.71 crore for the quarter ended December 31 against Rs 3.98 crore in the corresponding quarter last year.
Mahindra Lifespace BSE 2.11 % Developers: Mahindra group’s realty firm Mahindra Lifespace DevelopersBSE 2.11 % announced its foray in Gujarat and will develop a 350-acre industrial park near Ahmedabad that could entail an investment of Rs 3,000 crore from the company and units to be established.
Bharti Airtel: Finance Minister Arun Jaitley on Thursday inaugurated AirtelBSE 0.45 % Payments Bank of Bharti Enterprises, which is being rolled out across the country with an investment of Rs 3,000 crore.
Tata group companies: TCS chief N Chandrasekaran on Thursday appointed as the Chairman of Tata Sons. “The Board of Directors of Tata Sons, at its meeting on Thursday, appointed N Chandrasekaran as Executive Chairman. This is as per the unanimous recommendation of the Selection Committee,” the company said in a statement. Chandrasekaran was the CEO and MD of Tata Consultancy Services (TCS).