GIC Housing BSE 1.48 % Finance: The company has reported a 24.4 per cent increase in net profit at Rs 46.61 crore for the fourth quarter ended March 31. It had reported net profit of Rs 35.87 crore for the same period of 2015-16.
Tata Sponge : Tata Sponge IronBSE 1.10 % on Wednesday reported a 62 per cent rise in consolidated profit to Rs 21.20 crore for the quarter ended March 31, 2017. The company had posted consolidated profit of Rs 13.08 crore in the year-ago period, Tata SpongeBSE 1.10 % Iron, said in a filing to BSE.
Axis Bank: Pointing towards one more challenging year ahead, Axis BankBSE -1.22 % on Wednesday reported a massive 43 per cent plunge in the March quarter net at Rs 1,225 crore on worsening asset quality woes, even though it managed to halve fresh dud asset formation. For full fiscal 2017, the private lender’s net profit plummeted a whopping 52.65 per cent to Rs 3,953.03 crore.
Sterlite Tech : The company on Wednesday reported a 16.27 per cent jump in consolidated net profit to Rs 63.66 crore in the January-March quarter this year, mainly on account of demand for fibre to build high speed networks. The company had posted a net profit of Rs 54.75 crore in the quarter period a year ago.
Somany BSE 0.71 % Ceramics : Somany CeramicsBSE 0.71 % announced that the expansion of Sanitaryware Plant of Somany Sanitary Ware (a subsidiary of the Company) is successfully completed and commercial production has commenced from April 26, 2017. As a result of this expansion, the capacity of plant has increased from 3.03 lakh pieces per annum to upto 11.50 lakh (1.15 Million) pieces per annum.
LIC Housing BSE -1.30 % Finance: Global brokerage house Credit Suisse maintained ‘Outperform’ rating on LIC Housing FinanceBSE -1.30 % and raised the target price to Rs 780 from Rs 635 earlier.
Earnings Today: Indiabulls RealBSE -1.13 % Estate, Maruti Suzuki, Kotak Mahindra BankBSE 0.90 %, Reliance CapitalBSE 0.66 %, Tata ElxsiBSE 0.38 % and Ujjivan Financial Services will announce their financial results for the quarter ended March 31, 2017 later in the day.
Multi Commodity Exchange (MCX): MCX will remain in focus on Thursday after market regulator Sebi permitted options trading in commodity derivatives to enhance liquidity even as the regulator indicated that it might take longer before deciding on allowing institutional investors into commodities segment.
PVR: India’s leading multiplex chain PVR has announced signing of a new 5-screen deal with Canadian entertainment technology company IMAX Corp that specialises in immersive motion picture technology.
ITC: ITC BSE -1.17 % would re-position its personal-care products every 6-12 months and explore unconventional outlets for selling soaps, shampoos, or shower gels, as India’s most valued consumer company seeks to establish its leadership credentials in a segment it entered 12 years ago.