Hero MotoCorp: The motorcycle maker on Thursday reported markedly improved financial results for the fourth quarter (Q4) of 2015-16 (FY16). It’s full-year performance, however, was sluggish. The standalone Q4 net sales of the two-wheeler major came in at Rs 7,385 crore, which worked out to be 10.3 per cent higher than the net sales in the year-ago quarter.
State Bank of India: The country’s largest public sector bank has launched a mobile payment solution that will enable customers to make digital payments at offline stores by scanning a QR (quick response) code on their smart phones. The service has been launched in Bengaluru with a sizable number of merchants and will soon expand into other cities.
Alstom T&D: Shares of the company took a hit over the past two days after weak results. Its March 2016 quarter numbers, released on Tuesday, missed the Street’s expectations by a huge margin. As the March quarter is usually positive for capital goods companies, analysts polled on Bloomberg expected AlstomBSE 0.11 % to post revenues of Rs 1,441 crore.
ITC: The FMCG major has forayed into the super-premium chocolate segment with a luxury offering branded Fabelle, which will be sold through boutique stores in its luxury hotels. Boxes of the assorted chocolates will be sold at Rs 1,000 each on average. The chocolates will be manufactured in Bengaluru, two senior industry executives said.
Mahindra & Mahindra: The SUV maker has turned the tables on Tata Motors, the nation’s largest commercial vehicle maker, in the market for mini trucks, or small commercial vehicles. From being a strong challenger a few years ago, Mahindra has not only overtaken Tata MotorsBSE -0.49 % as the largest small commercial vehicle maker, but also extended the lead to 15% in the load or cargo carrying truck segment .
Sun Pharma: The stock received a thumbs up from investors on Thursday, after the company said its psoriasis molecule met two key targets in advanced clinical studies, taking the drug closer to filing for approval from the US health regulators.
Tata SteelBSE -1.54 %, JSW Steel, HindalcoBSE -0.33 %, Nalco: The tide seems to be turning for these metal stocks. Legendary investor Mark Mobius is advising investors to buy commodity stocks, citing sector rebound has just began, while Citigroup, a global financial services firm,
Bharti Airtel: The telecom major expects the entry of Reliance Jio Infocomm to shake up the market, but says it is battle-ready to face off with the competitor that is predicted to come up with cheap tariffs. Gopal Vittal, Bharti AirtelBSE 1.44 % CEO for India and South Asia,
ICICI BankBSE 0.49 %, HDFC Bank: Stocks of top banks are likely to see a lot of action after the Lok Sabha on Thursdayapproved a Bill to overhaul century-old laws that regulate insolvency. The proposed Insolvency and Bankruptcy Code aims to slash the time it takes to wind up a company or recover dues from a defaulter.
Yes Bank: The private sector lender on Thursday said it had been granted an in-principle approval by the Securities and Exchange Board of India (Sebi) for acting as Custodian of Securities. The bank has 12 months to establish the business. Custodian of securities is a licence granted by the market regulator that allows companies to offer custodial services to financial market participants including foreign institutional investors and foreign portfolio investors.
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