Nestle India: The company on Wednesday reported a decline of 8.66 per cent in its standalone net profit to Rs 167.31 crore for the fourth quarter ended December 2016, hit by higher tax expense and demonetisation that impacted its domestic sales. Nestle IndiaBSE -2.04 %, which follows January-December financial year, had posted a net profit of Rs 183.19 crore during the October-December quarter last fiscal.
Tata Consultancy ServicesBSE 1.67 % (TCS): The board of directors of TCS will consider a proposal for buyback of equity share of the company at its meeting held on February 20.
State Bank of India: The Union Cabinet on Wednesday approved the merger of State Bank of India (SBI) and its five associate banks.
Tata Steel: The company today said it has unveiled a new high-tech robotic welding line at its Automotive Service Centre in Wednesfield, West Midlands – the largest in the UK that can weld more than a thousand car parts every hour.
BPCL, HPCL and IOC: State-owned refiners BPCL, HPCL and IOC alongside a company floated by directors of drugmaker Sun Pharmaceuticals were declared as winners of the much-hyped small oil and gas field discovery auction.
Sagar Cements: The company has successfully concluded its fund raising exercise through Qualified Institutional Placement (QIP). Anand Rathi Advisors and YES Securities acted as merchant bankers to this QIP issuance. The amount was raised by issuing 24,00,000 equity shares of Rs 10 each at a price of Rs 720, including a premium of Rs 710 per share. Post issuance, the institutional holding is in excess of 18.7 per cent as against 7.3 per cent pre-QIP.
Maruti Suzuki: Country’s largest carmaker Maruti SuzukiBSE 1.02 % on Wednesday launched limited edition of its multi-purpose vehicle Ertiga, priced between Rs 7.85 lakh and Rs 8.10 lakh (ex-showroom Delhi).
Asahi IndiaBSE -1.97 % Glass: The company on Wednesday reported a consolidated net profit of Rs 22.28 crore for the quarter ended December 31, 2016 against Rs 22.16 crore in the corresponding quarter last year.
Karuturi Global: The company reported over 2-fold rise in net profit at Rs 21 crore for the quarter ended December 31, 2016 against Rs 8.39 crore in the same quarter last fical.
Deepak Fertilisers and Petrochemicals: The company has expanded its existing product portfolio with the introduction of four new grades of NPK (nitrogen-phosphorus-