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Thursday, February 6, 2014

TOP CORPORATE NEWS

·        Bank of Baroda Q3 net beats forecast, asset quality weakens

Bank of Baroda third quarter net profit rising 3.6 percent to Rs 1,047.84 crore compared to same quarter last year due to lower provisions and higher other income, but that was squeezed by deferred tax liability. However, pressure continued on its asset quality.

·        Maruti Suzuki gains after launching Celerio hatchback

Maruti Suzuki India rose 2.09% after the company launched its much awaited compact car, Celerio, with the revolutionary auto gear shift, today.

·        Jet Airways rallies on regulatory nod to Etihad for stake buy in Jet unit
              
Jet Airways has surged 9% on Competition Commission of India (CCI) approved Etihad's 50.1% stake buy in Jet Privilege Private Ltd, a customer loyalty programme unit of Jet Airways.

·        Wheels India at record high on rights issue plan

Wheels India has soared 7% extending its 20% rally in past four trading sessions on rights issue plan. The board of directors of the company at their meeting held on February 3 has approved rights issue of equity shares to the existing shareholders, excluding the promoter and promoter group of the company.

·        Aban Offshore Q3 profit up 150%, defferred tax rises


Aban Offshore operational performance was ahead of forecast in the quarter ended December 2013.Consolidated net profit jumped 150 percent to Rs 80.2 crore and net sales grew 9.4 percent to Rs 994.3 crore compared to a year-ago period. The squeeze in profit was because of deferred tax liability of Rs 12 crore as against Rs 3.27 crore in same quarter last year. 

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