Ramco Systems: Software firm Ramco SystemsBSE 1.94 % said its consolidated net profit stood at Rs 8 crore during the March quarter against Rs 7 crore in the year-ago period. The Chennai-based firm also saw its total income growing marginally to Rs 121.6 crore in the quarter under review from Rs 121.3 crore during the year-ago period.
Reliance Communications: Bankers are scheduled to meet next week amid rising concern over the possibility of more than Rs 40,000 crore of Reliance Communications Ltd’s loans becoming non-performing assets (NPAs) after three rating firms downgraded the company’s debt following missed bond payments.
Oriental Bank of BSE 0.07 % Commerce: Rating company ICRABSE -0.04 % has cut the creditworthiness of state-owned Oriental Bank of CommerceBSE 0.07 % citing weak financials as the lender, saddled with bad loans has already reported losses.
Jet Airways: Private carrier Jet AirwaysBSE -1.03 % said it plans to lease 6-8 single aisle aircraft in the fleet this fiscal. The airline has already leased one B-737NG of these planes this fiscal and the rest will be inducted in the fleet by March next year, the Naresh Goyal-promoted carrier said. The city-headquartered airline currently has 103 aircraft in the fleet, with 69 of them B-737s.
Auto stocks: Automobile firms Tata Motors, Ashok Leyland, Maruti Suzuki, Eicher MotorsBSE 1.28 %, Mahindra & Mahindra, Ashok Leyland and will announce their sales figures for May on Thursday.
OMCs: Shares of public sector oil marketing companies will be watched. Indian Oil CorporationBSE -2.19 % (IOCL) on Wednesday announced an increase in the price of petrol and diesel with effect from the midnight of 31 May/1 June 2017. Petrol price was hiked by Rs 1.23 per litre and diesel price was raised by Rs 0.89 a litre at Delhi (excluding state levies).
Hindalco: Hindalco Industries is planning to set up a high-end alloy plate manufacturing unit for the country’s defence sector, according to reports. The project would need an overall investment of Rs 2,000 crore.
Ujaas Energy: Ujaas Energy has bagged an order from Moil Ltd for 5.5 MW solar plant with tracking system at its mines in Madhya Pradesh.
MOIL: The company announced increase in price of various grades of manganese ore effective from 1 June 2017.
JK Paper: JK Paper announced that meeting of the committee of directors of the company will be held on June 8, to consider allotment of equity shares of the company consequent to conversion notices received from one of the foreign currency convertible bonds (FCCBs) holders, seeking conversion of its FCCBs (Series 4) and FCCBs (Series 5) of 2.4 million euro each into equity shares of the company.
Bharat Gears: The company announced that the finance committee of board of directors of the company approved the proposal to avail a term loan of Rs 110 crore from KKR India Financial Services for repaying some of the existing term debts, working capital requirements and capital expenditure, among others.