Tata Power: Tata Power posted a consolidated net profit of Rs 336.2 crore for the quarter ended on September 30, 2016, on better performance by key Indian subsidiaries as well as Indonesian coal mines. It had posted a consolidated net loss of Rs 95.8 crore in the corresponding quarter last year.
National Fertilizers: The company on Tuesday reported an 11 per cent decline in net profit at Rs 46.51 crore for the quarter ended September 30. Its net profit had stood at Rs 52.05 crore in the year-ago period.
Idea Cellular: Axiata is looking to sell its 20 per cent stake in Idea Cellular as the Malaysian company believes the Indian telecom provider’s valuation will remain subdued for at least the next three years given the likelihood of a pricing onslaught stemming from the entry of Reliance Jio Infocomm, said three people familiar with the plan.
Vivimed Labs: Vivimed Labs on Wednesday said the US health regulator has completed the inspection of its manufacturing facility in Alathur. The company’s ‘Finished Dosage Form’ manufacturing facility has had a favourable outcome post its US Food and Drug Administration (USFDA) inspection.
SAIL: Government will hold auction to identify strategic buyers for SAIL subsidiaries — Bhadrawati, Salem and Durgapur. SAIL, the state-owned steel giant, said the government has in-principle approved strategic disinvestment of Bhadrawati, Salem and Durgapur (alloy steel plants)
UCO Bank: Public sector UCO Bank has raised Rs 270.59 crore by issuing over 7 crore shares to LIC on preferential basis. “Bank has issued and allotted 7,17,00,000 shares of Rs 10 each to Life Insurance Corporation of India at an issue price of Rs 37.74 per share, including a premium of Rs 27.74 on preferential basis
HCC: Hindustan Construction Company (HCC) said its board would consider issuance of equity shares as well as optionally convertible debentures to lenders under the scheme for sustainable structuring of stressed assets.
Lupin: Drug major Lupin said it has received approval from the US health regulator to market its Armodafinil tablets, indicated to improve wakefulness, in the American market.
Reliance Industries: RIL’s textile brand ‘Only Vimal’ has been granted patent by the US Patent & Trademark Office for its DEO2 process technology that helps fight perspiration odour.
Earnings Today: Balkrishna Industries, Man Infraconstruction, Punj LloydBSE 2.24 %, Ratnamani Metal & Tubes will announce their financial results for the quarter ended September 30, 2016 on Wednesday.