GAIL (India): State gas utility GAIL (India) on Tuesday reported a 180 per cent increase in net profit in the second quarter ended September on the back of turnaround in petrochemical business and reduction in interest cost. Net profit in July-September jumped to Rs 925 crore from Rs 330 crore in the same period last year.
PNB Housing Finance: The company registered a rise of 78.3 per cent in net profit at Rs 137.65 crore for the quarter ended September 30, 2016. Its net profit stood at Rs 77.20 crore in the corresponding July-September quarter of the previous fiscal.
HPCL, BPCLBSE 1.02 %, IOC: Hindustan Petroleum Corp Ltd (HPCL) plans to take 25 per cent stake in the $30 billion mega oil refinery planned to be set up on the west coast, the company’s chairman Mukesh K Surana said on Tuesday. Indian OilBSE -0.10 % Corp (IOC) will hold 50 per cent stake in India’s biggest oil refinery, while the balance 25 per cent will be with Bharat
Petroleum Corp Ltd (BPCL). Oil marketing companies will also remain in focus after petrol price on Tuesday cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre, reversing the rising trend of the past few weeks.
Shree Renuka Sugars: The company on Tuesday reported a standalone net profit of Rs 2.5 crore for the quarter ended September 30, 2016 against a net loss of Rs 151.2 crore in the year-ago period.
Tata Global Beverages: The company reported 48.19 per cent increase in consolidated net profit at Rs 108.14 crore for the quarter ended on September 30, 2016. Tata Global Beverages had posted a net profit of Rs 72.97 crore in July-September quarter a year ago.
Results Today: Voltas, Shipping Corporation of India, Ramco IndustriesBSE -5.33 % and Engineers IndiaBSE -0.31 % will announce their financial results for the quarter ended September 30, 2016 on Wednesday.
Hind Rectifiers: The company has informed bourses that ICRA Limited has assigned a long term rating of BB+ and a short term rating of A4+. The Long term rating has a ‘Stable’ outlook.
Wheels India: Wheels India Ltd on Tuesday announced that it has entered into a Technology transfer Agreement with FLUITECNIK, SA, Spain for the manufacture of Hydraulic components for supply to wind mill manufacturers in India.