ITC extends rally on good Q4 results, bonus sharesb
Posted on 23rd May 2016 |
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| ITC has rallied 7.5% to Rs 355 in early morning trade, extending its Friday’s 1.5% gain on the BSE after reporting a better-than-expected performance for the quarter ended March 31, 2016 (Q4FY16). The stock is currently trading near its 52-week high of Rs 360, touched on October 26, 2015 during intra-day trades. ITC had declared a bonus issue of one share for every two shares held while announcing its March quarter results last week. That apart, it has declared a final dividend of Rs 8.5 per share (including a special dividend of Rs 2 per share) for the current fiscal. ITC posted 5.7% year-on-year (Y-o-Y) growth in net profit at Rs 2,495 crore, on back of 9.5% YoY jump in net sales in Q4FY16. The operating profit margin (OPM) improved by 210 basis point YoY to 36.3%. Analysts, on an average, had expected profit of Rs 2,480 crore on net sales of Rs 9,778 crore for the quarter. Improvement in performance during the quarter driven by improved realization, margin expansion, benign input costs and favorable base effect, ITC said in a statement. At 09:38 am, the stock was trading 5.4% higher at Rs 348 on the BSE. A combined 1.04 million shares changed hands on the counter on the BSE and NSE. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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