MARKET NEWS CORNER

NEWS CORNER

1.     Reported Consolidated quarterly numbers for Berger Paints India are Net Sales at Rs 1,616.70 crore in December 2018 up 20.77% from Rs. 1,338.63 crore in December 2017. Quarterly Net Profit at Rs. 133.85 crore in December 2018 up 2.65% from Rs. 130.39 crore in December 2017. EBITDA stands at Rs. 251.13 crore in December 2018 up 7.95% from Rs. 232.64 crore in December 2017.

2.     The Reserve Bank of India said that Bank of India, Bank of Maharashtra and Oriental Bank of Commerce were allowed to exit the prompt corrective action framework after meeting the regulatory norms.

3.     Dr Reddys Labs Consolidated December 2018 Net Sales at Rs 3,864.60 crore, up 0.8% Y-o-Y Net Sales at Rs 3,864.60 crore in December 2018 up 0.8% from Rs. 3,834.10 crore in December 2017. Quarterly Net Profit at Rs. 500.30 crore in December 2018 up 65.28% from Rs. 302.70 crore in December 2017. EBITDA stands at Rs. 906.90 crore in December 2018 up 8.52% from Rs. 835.70 crore in December 2017.

4.     Titan Company Consolidated December 2018 Net Sales at Rs 5,871.49 crore, up 37.35% Y-o-Y Net Sales at Rs 5,871.49 crore in December 2018 up 37.35% from Rs. 4,274.84 crore in December 2017. Quarterly Net Profit at Rs. 413.19 crore in December 2018 up 46.72% from Rs. 281.61 crore in December 2017. EBITDA stands at Rs. 653.82 crore in December 2018 up 47.34% from Rs. 443.74 crore in December 2017.

5.     Leading jewellery exporter Rajesh Exports on Friday reported a 4.78 percent rise in consolidated net profit at Rs 315.96 crore for the quarter ended December 31, 2018. The company had reported a net profit of Rs 301.52 crore in the year-ago period. Rajesh Exports' total income from operations rose to Rs 44,026.02 crore during the third quarter under review, up 6.57 percent, from Rs 41,308.92 crore in the corresponding period of the previous year.

6.     Jubilant Life Consolidated December 2018 Net Sales at Rs 2,377.10 crore, up 14.96% Y-o-Y. Net Sales at Rs 2,377.10 crore in December 2018 up 14.96% from Rs. 2,067.76 crore in December 2017. Quarterly Net Profit at Rs. 260.84 crore in December 2018 up 22.55% from Rs. 212.84 crore in December 2017. EBITDA stands at Rs. 522.28 crore in December 2018 up 24.33% from Rs. 420.06 crore in December 2017.

7.     Punjab National Bank increased MCLR across various tenors by 5bps. One month MCLR at 8.20% and one-year MCLR was at 8.55%.

8.     Oriental Bank of Commerce received Rs1,186cr capital infusion from government of India. The bank said that the amount was utilized to make loan loss provision in order to bring down the net NPA ration below the threshold under Prompt Corrective framework.

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