Infosys consolidated net profit as per International Financial Reporting Standards (IFRS) jumped 24.4% to Rs 2372 crore on 14.8% growth in revenue to Rs 9298 crore in Q3 December 2011 over Q2 September 2011. The company announced the results before trading hours today, 12 January 2012.
Housing finance major HDFC will announce its Q3 December 2011 earnings today, 12 January 2012.
Development Credit Bank, TTK Prestige, Geojit BNP Paribas Financial Services, Gruh Finance, Jaybharat Textiles & Real Estate, Asahi Industries and KSL and Industries, among others, will declare their October-December 2011 quarter results today, 12 January 2012.
Crompton Greaves won contract for design, engineering, supply and installation of onshore, offshore substations for 219 megawatts offshore wind farm in the UK.
Ansal Housing and Construction said its promoters intend to forgo the outstanding 2 lakh warrants out of 12 lakh warrants allotted to them on 30 October 2010 at Rs 70 each. Hence, the company has decided to cancel the outstanding warrants and forfeit the application money, being 25% of the warrant price.
Maharashtra Seamless (MSL) has commissioned 5 megawatts (MW) (AC) solar power project on 6 January 2012. The project is located at Pokaran, Rajasthan. The plant will generate 9.855 million units of electricity annually.
Sunteck Realty clarified to media report that suggested that the company had entered into an agreement to acquire 10 acres land in Goregaon for Rs 350 crore. Sunteck Realty clarified that it is still in the process of negotiations and nothing has been finalised.
The board of Genus Power Infrastructures has approved the draft of the scheme of arrangement, involving merger of Genus Paper Products into the company and demerger of non-power infrastructure undertaking of the company into a 100% subsidiary of the company, with an overall objective of unlocking value for shareholders of the companies.
State Bank of India (SBI) has reportedly slashed processing fees on home loans by half, a move aimed at garnering a larger pie in the home loan market and giving competition to private banks and housing finance companies. According to reports, the bank has reduced processing fee on home loan above Rs 75 lakh to Rs 10,000 from Rs 20,000. For loans in the range of Rs 30 to Rs 75 lakh, the fees has been lowered to Rs 6,500 from Rs 10,000 earlier. The processing fee for loan below Rs 30 lakh continues to be 0.25% of the loan amount.
ITC reportedly expects growth in its food business to ease in the coming fiscal year, in line with the industry, and plans to increase prices as food inflation remains high.
Reliance Communications is reportedly in talks with China Development Bank for a loan to redeem a $925 million convertible bond maturing in March 2012.
The cash-strapped UK parent of Thomas Cook India has decided to sell its Indian arm to raise money to bolster troubled global operations after heavy debt and writedown pushed the worlds oldest travel firm to the brink of collapse last year. According to reports, Royal Bank of Scotland will find a buyer for Thomas Cook India after the two foreign promoters pledged their entire holding in the Indian arm with the British bank on Wednesday (11 January 2012).
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