ICICI Bank May Drop On Muted Growth In Profitability In Q2

ICICI Bank’s net profit rose 2.38% to Rs 3102.27 crore on 41.31% rise in total income to Rs 22759.08 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Bharat Heavy Electricals (Bhel) announces Q2 results today, 8 November 2016.State Bank of India (SBI) announced before market hours today, 8 November 2016, that a meeting of executive committee of the Central board of the bank is scheduled to be held on 10 November to examine and decide for issuance of long term bonds of Rs 5000 crore in domestic and overseas markets for financing of infrastructure and affordable housing (Infra bonds) during the year ending 31 March 2017 (FY 2017) on private placement in tranches at appropriate time.

Wipro announced after market hours yesterday, 7 November 2016, launch of its Open Banking API (Application Programming Interface) platform. The Open API platform will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardization of APIs. Open Banking is an emerging trend in financial technology that uses Open APIs to enable third party developers build applications and services around a financial institution. It facilitates greater financial transparency and helps financial institutions innovate and create new revenue models. Open Banking has been gaining significant momentum across the globe, especially in the European banking industry – driven by changing regulatory mandates. Revised Directive on Payment Services (PSD2), is one such regulatory mandate that aims to standardize, integrate and improve payment efficiency in the European Union.

EID Parry India reported consolidated net profit of Rs 126.15 crore in Q2 September 2016 compared with consolidated net loss of Rs 4 crore in Q2 September 2015. Total income rose 6.66% to Rs 4757.26 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 7 November 2016.

Sanofi India’s net profit rose 11.17% to Rs 80.60 crore on 7.36% rise in total income to Rs 639 crore in Q3 September 2016 over Q3 September 2015. The result was announced after market hours yesterday, 7 November 2016.

GlaxoSmithkline Consumer Healthcare’s net profit fell 16.62% to Rs 183.72 crore on 5.69% rise in total income to Rs 1138.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Ceat’s consolidated net profit rose 1.56% to Rs 106.92 crore on 5.3% rise in total income to Rs 1431.47 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Varun Beverages makes its debut on the bourses today, 8 November 2016. The initial public offer (IPO) of Varun Beverages had seen moderate response from investors. The issue received bids for 3.27 crore shares compared with 1.76 crore shares on offer. The IPO was subscribed 1.86 times. The issue price is fixed at Rs 445 per share, the top end of the Rs 440 to Rs 445 per share price band for the IPO. Promoted by Ravi Kant Jaipuria, Varun Beverages is one of the largest franchisee in the world (outside USA) of carbonated soft drinks (CSD) and noncarbonated beverages (NCB) sold under trademarks owned by PepsiCo. It produces and distributes a wide range of CSD as well as a large selection of NCB including packaged drinking water.

Vijaya Bank announced after market hours yesterday, 7 November 2016, that the bank intends to raise tier 1 Capital through private placement of Basel III complaint additional tier 1 bonds of 10 lakh each at par aggregating to Rs 750 crore.

Britannia Industries’ consolidated net profit rose 5.79% to Rs 233.95 crore on 11.64% rise in total income to Rs 2497.27 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016

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