Union Bank of India: State-run Union Bank of India reported a steep plunge in its net profit at Rs 177 crore in the September quarter, down 73 per cent from Rs 658 crore posted a year ago, on account of a massive rise in provisions for bad loans.
Indian Hotels: Tata group hospitality firm Indian Hotels CompanyBSE 0.93 % reported narrowing of consolidated net loss to Rs 26.76 crore for the second quarter ended September 30, 2016. It had posted a net loss of Rs 151.96 crore in the July-September quarter a year-ago.
Credit Analysis and Research: The company reported an increase of 14.2 per cent in its net profit at Rs 43.23 crore for the second quarter ended September.
Gati Ltd: Logistics major Gati Ltd posted a flat consolidated net profit of Rs 5.80 crore for the quarter ended September 30, 2016. The company had posted consolidated profit after tax, minority interest and share of profit of associates of Rs 5.79 crore in the year-ago period.
HCC: The RBI mandated Overseeing Committee (OC) has approved the (S4A) Scheme of Sustainable Structuring of Stressed Assets for Hindustan Construction CompanyBSE 4.64 %. The ICICI led joint lenders’ forum had proposed the scheme for the infrastructure major.
Tata Motors: Echoing Tata Sons’ ousted Chairman Cyrus P Mistry, Tata Motors on Friday said its Nano small car has been “a loss-making product” in the highly price-sensitive market, coupled with low volumes.
Ujaas Energy: The company had informed bourses that it has received an order for “Design, supply, installation, testing and commissioning of Grid Interactive SPV Based Solar Power System of 50 Kwp at main office building of RBI, Bhopal (MP).
NTPC: The Odisha government on Saturday signed a Memorandum of Understanding (MoU) with National Thermal Power Corporation (NTPC) for setting up a new state-of-the-art polytechnic in Sundargarh district of the state.
Dalmia Bharat: Dalmia Bharat and OCL India said their Boards have approved merger of the two firms to simplify the group structure, with one listed entity that will create the country’s 4th largest cement player.
PNB Housing Finance: Shares of PNB Housing Finance, promoted by Punjab National Bank, is going to list on bourses today.