Infosys surges on strong revenue guidance, Q3FY2016 performance
Shares of IT major Infosys surged 5% to Rs1136 on NSE in an otherwise weak markets post Q3FY2016 results led by strong performance; upgrades guidance.
The company reported a better-than-expected 1.98% quarter on quarter (q-o-q) growth in consolidated net profit at Rs3,465 crore for the third quarter ended December 31, 2015 (Q3FY16). Revenues grew 1.7% at Rs15, 902 crore on sequential basis.
Tata Steel down as S&P downgrades
Tata Steel declined over 6%, touching to Rs231.7, after global credit agency S&P downgraded the corporate credit rating of the company by one notch.
Indian Oil will invest Rs21,000 crore in upgrading six refineries
Indian Oil will invest Rs21,000 crore in upgrading six refineries to produce Euro-VI grade petrol and diesel by April 2020.
The investment on upgradation will raise the production cost of petrol by Rs1.40 per litre and diesel by Rs0.63.
RCom gets nod from bourses on SSTL acquisition
Country’s fourth-largest telecom operator Reliance Communications Ltd (RCom) gave their approval to its deal to acquire Russian conglomerate Sistema's Indian telecom unit, Sistema Shyam Teleservices Ltd (SSTL).
December WPI Inflation comes at -0.73% Vs -1.15% expected
WPI Inflation data for December 2015 was declared today (14th January 2016) at -0.73% compared to the consensus estimates of -1.15% versus -1.99% MoM.
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