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DAILY CORPORATE NEWS
TCS Q3 misses muted expectations, 6th straight quarter of earnings
The Audited Standalone results for the Quarter ended December 31, 2015:
The Company has posted a net profit at Rs5956.72 crore Vs Rs5711.15 crore (YoY).
Total Income is at Rs22769.51 crore Vs Rs20439.51 crore (YoY).
ONGC plans to cut operational cost by at least 10%
ONGC plans to cut operational cost by at least 10 per cent by prioritizing activities and putting off the less important ones to future as the falling crude oil prices are pressurizing the profitability of the company
SBI to monetise non-core assets over next 3 years
SBI, plans to monetise non-core assets and list some of its subsidiaries to meet capital requirements as well as meet Basel-III norms, which will kick in from March 2019.
The Bank has number of non-core assets (insurance, NSE, UTI etc) and unlisted bank subsidiaries which can be divested to raise capital without undergoing much of dilution.
Sensex spurts 172 points provisionally
The Sensex soared 172.08 points to close at 24854.11 (provisional), while the Nifty advanced 52.10 points to close at 7562.40
IIP, CPI data disappoint
IIP disappoints: IIP for November 2015 declined by 3.2% vs expectation of +2% growth suggesting moderation in industrial activity.
CPI Inflation for December 2015 moves up to 5.6% versus 5.41% (MoM) and was higher than a consensus estimate of 5.51%.
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