Monday 28 May 2018

STOCK NEWS CORNER


NEWS CORNER

1.     Larsen & Toubro Infotech approved closure of its wholly owned subsidiary Larsen & Toubro Infotech Austria GmbH.


2.     NHPC declared commercial operation of Unit No 2 and 3 of Kishanganga HE Project (3 x 110 MW), Jammu & Kashmir.
3.     Sun Pharmaceutical's consolidated net profit rose 6.94 percent year-on-year (YoY) to Rs 1,309 crore in the fourth quarter ended March, beating analysts' estimates. The profit was boosted by a one-time tax benefit of Rs 259 crore in Q4 related to certain intangibles. Excluding the one-time tax benefit of Rs. 259 crore, the adjusted net profit for the quarter was Rs. 1,050 crores.
4.     Tech Mahindra on Friday reported its fourth-quarter numbers. The net profit grew 29.6 percent to Rs 1,222 crore compared to Rs 943.1 crore in the last quarter. The Mumbai-based IT services firm reported 3.6 percent growth in revenue at Rs 8,054.5 crore in rupee terms as against Rs 7,776 crore (QoQ). It reported a dollar revenue of USD 1,244.3 million.
5.     PC Jeweller today posted a 7.47 percent jump in its standalone net profit at Rs 118.28 crore for the quarter ended March 2018. The company had clocked a net profit of Rs 110.05 crore in the same period of the previous fiscal.




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