On a consolidated basis, IT major Infosys' net profit rose 37.65% to Rs 5129 crore on 1.29% growth in net sales to Rs 17794 crore in Q3 December 2017 over Q2 September 2017. The result was announced after market hours on Friday, 12 January 2018. The result is as per Indian Accounting Standards (Ind-AS). On a consolidated basis, the company expects its revenues for the fiscal year ending 31 March 2018, under IFRS, to grow 5.5%-6.5% in constant currency. The revenues are expected to grow 2.1%-3.1% in rupee terms based on the exchange rates as of 31 December 2017. The revenues are expected to grow 6.5%-7.5% in dollar terms based on the exchange rates as of 31 December 2017. Housing finance major HDFC said its committee of directors approved issuing equity shares up to an aggregate amount not exceeding Rs 13000 crore through a combination of a preferential allotment and qualified institutions placement, subject to shareholders' approval through postal ballot. The announcement was made on Saturday, 13 January 2018. Housing Development & Infrastructure (HDIL) said its board approved allotment of 2 crore warrants at Rs 70.50 each to Sarang Wadhawan, promoter of the company. The announcement was made on Saturday, 13 January 2018. IDFC Bank and Capital First announced that their respective boards approved a merger of Capital First with IDFC Bank. Pursuant to the merger which is subject to regulatory and shareholder approvals, IDFC Bank will issue 139 shares for every 10 shares of Capital First. The announcement was made on Saturday, 13 January 2018. This announcement is pursuant to IDFC Bank's stated strategy of retailising its business to complete their transformation from a dedicated infrastructure financier to a well-diversified universal bank, and in line with Capital First's stated intention and strategy to convert to a universal bank. Granules India will be watched. The Reserve Bank of India on 12 January 2018 notified that the Foreign Portfolio Investors (FPIs) investment limit under Portfolio Investment Scheme in Granules India has increased from 24% to 49% of its paid up capital. Granules India has passed necessary resolutions of its board of directors and general body. Southern Petrochemicals said its plants have been shut down from 11 January 2018 for maintenance. The company expects to resume operations in four weeks' time. The announcement was made after market hours on Friday, 12 January 2018. Religare Enterprises said it entered into supplemental agreement on 11 January 2018, extending the share purchase agreement dated 9 April 2017, entered into by the company for divesting its entire stake in Religare Health Insurance Company. The transaction is expected to be completed in accordance with the terms and conditions of the share purchase agreement and the supplemental agreement. Further, on account of delay in completion, the expected value of the company has been revised upwards to Rs 1350 crore. The transaction is subject to necessary regulatory and other approvals. The announcement was made after market hours on Friday, 12 January 2018. Eclerx Services said that a meeting of share buy-back committee of board of directors of the company will be held on 23 January 2018, to approve the final terms and conditions of buy-back of equity shares of the company, subject to shareholders' approval. The outcome of the postal ballot being conducted, to seek such shareholders' approval, will also be announced on 23 January 2018. The announcement was made after market hours on Friday, 12 January 2018. Powered by Capital Market - Live News |