TOP CORPORATE NEWS - 18 JAN 2016

Kotak Mahindra Bank profit in-line; Asset Quality Stable

Kotak Mahindra Bank has announced the following Q3 results for the quarter ended December 31, 2015 (YoY):

Standalone (YoY)

The Bank has posted a net profit of Rs634.72 crore Vs Rs464.52 crore.

Total Income is at Rs4843.86 crore Vs Rs2994.20 crore.

Karnataka Bank Q3 net profit drops 9% (YoY)

Karnataka Bank has announced the following Unaudited Standalone results for the quarter ended December 31, 2015:

The Bank has posted a net profit of Rs96.91 crore Vs Rs106.94 crore.

Total Income has increased to Rs1369.83 crore Vs Rs1364.69 crore.

Petrol price cut by 32 paise, Diesel by 85 paise a ltr

Petrol price cut by 32 paise/ltr and Diesel by 85 paise/ltr, the fourth reduction in rates in six weeks on the back of softening global oil prices.

However the Government has hiked excise duty on Petrol by Rs0.75 per litre and by Rs2 a litre on Diesel, the second increase in duties in less than two weeks.

Wockhardt tanks as USFDA makes 9 observations

Shares of Wockhardt tanked 8% to Rs1188.50 on NSE as the USFDA makes 9 observations over Wockhardt's plant in Shendra.

The stock opened at Rs1274 marking days low at Rs1144.95 and hit an intraday high of Rs1285.55 on NSE so far.

TTK Prestige Q3 net profit up 33%

TTK Prestige has announced the following Q3 Un-Audited Standalone results for the quarter ended December 31, 2015 (YoY):

Net profit of the company rose by 32.57% to Rs37.20 crore Vs Rs28.06 crore.

Total Income increased by 16.69% to Rs449.83 crore Vs Rs385.48 crore

                                      

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