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Monday, May 12, 2014

GAIL India stock up 3% on expansion plans
Shares of GAIL India Ltd was up 3% on report that the company plans to invest in upstream hydrocarbon assets overseas. The company plans to spend $500-700 million to pick up minority stakes in US shale assets and also some conventional hydrocarbon projects in Africa.

Corporation Bank tumbles after weak Q4 earnings

Corporation Bank fell 4.68% after net profit declined 88.3% to Rs 41.57 crore on 8.6% growth in total income to Rs 5032.62 crore in Q4 March 2014 over Q4 March 2013.

Syndicate Bank to raise Rs. 2,650 cr in FY15
Syndicate Bank plans to raise fresh capital of Rs 2,650 crore in the current financial year. Of this, Rs 1,500 crore will be equity capital and the amount will be raised via Basel-III complaint Tier-II bonds.

Torrent Pharmaceuticals FY13-14 revenue up 30%

Torrent Pharmaceuticals Limited FY 13-14 revenues stood at Rs.4, 184 crores, up by 30% from Rs.3, 212 crores in FY 12-13. EBITDA for FY 13-14 stood at Rs. 952 crores up by 37% from Rs. 693 crores during the same period last year.

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