TCS' consolidated net profit as per international financial reporting standards (IFRS) fell 2.5% to Rs 6608 crore on 0.3% decline in revenues to Rs 29642 crore in Q4 March 2017 over Q3 December 2016. The board has approved final dividend of Rs 27.50 per share for the year ended 31 March 2017. The announcement was made after market hours yesterday, 18 April 2017.
Zee Entertainment Enterprises said that it has completed transaction of acquisition of 80% equity stake in Mango Networks (Mango). Mango has allotted 40,000 shares to the company. Upon such allotment, the company holds 80% stake in Mango and consequently Mango haS become a subsidiary of the company. The announcement was made after market hours yesterday, 18 April 2017.
IndusInd Bank said that the Finance Committee of the Board at its meeting held yesterday, 18 April 2017, approved the allotment of Basel III-compliant bonds in the nature of debentures aggregating Rs 1000 crore on private placement basis, towards non-equity regulatory Additional Tier I Capital (AT1 Bonds). The announcement was made after market hours yesterday, 18 April 2017.
Coal India issued clarification to the stock exchanges with respect to news appeared in media on 17 April 2017 titled 177 mines of Coal India downgraded on quality concerns”. The company said that coal is a heterogeneous mineral, susceptible to qualitative variation particularly in Indian context because of its origin and formation. As per earlier practice, annual declaration of grade proposed by coal companies on the basis of own sample collection and analysis at government accredited laboratories, which was being approved by Coal Controller in due course.
As per statutory provisions, subject of maintenance of grades requires monitoring which is vested with Coal Controller Organization (CCO). Annual declaration of grades is a routine exercise, being carried out by coal companies as per directives and methodology prescribed by CCO, Coal India said. During FY16-17, 52 mines/seams were regarded. Again, during reassessment another 22 mines were regarded, the company said.
During FY17-18, as per directives of government, Coal Controller announced new methodology for declaration of grade. Under revised methodology, sampling and analysis of different seams/loading points was carried out through academic institutions and based on their results, CCO finalized the grades, Coal India said.
Independent certification of coal grade through CC0 and analysis through CIMFR will help Coal India to achieve consumers' confidence and satisfaction besides less slippages in future, the company said. Re-calibration of entire grading methodology is also going to help government in its mission to make cheap power available to common person, it added. The announcement was made after market hours yesterday, 18 April 2017.
NBCC (India) said it has secured the total business of Rs 1877 crore in March 2017. The announcement was made after market hours yesterday, 18 April 2017.
SPML Infra said that Prime Minister Narendra Modi along with Vijay Rupani, Chief minister of Gujarat inaugurated the completion of Phase-I of SPML Infra Project - Saurashtra Narmada Avtran Irrigation (SAUNI Yojana) on 18 April 2017 in Botad, Gujarat by formally releasing Narmada water in Krushna Sagar dam.
SPML Infra has substantially completed an important irrigation project- SAUNI Yojana. The announcement was made after market hours yesterday, 18 April 2017.
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