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Thursday, May 8, 2014

Union Bank posts 27% fall in Q4 net profit at Rs 578.88 cr
Union Bank reported a nearly 27 percent fall in its net profit at Rs 578.88 crore for the quarter ended March 31, 2014. Total revenue of the bank stood at Rs 8,444.91 crore for the (January-March) quarter in 2014, as against Rs 7,500.59 crore in the same period last fiscal.

Shasun Pharma up 10% on Morgan Stanley stake buy

Shasun Pharmaceuticals is locked in upper circuit for second straight day, up 10% at Rs 165 after Morgan Stanley Asia  bought nearly one per cent stake in the company for a total consideration of Rs 5.9 crore.

Aditya Birla Ch standalone Mar '14 sales at Rs 281.74 crore

Aditya Birla Chemicals has reported a standalone sales turnover of Rs 281.74 crore and a net profit of Rs 0.74 crore for the quarter ended Mar '14. Other income for the quarter was Rs 2.80 crore. For the quarter ended Mar 2013 the standalone sales turnover was Rs 211.80 crore and net profit was Rs 7.85 crore, and other income Rs 2.14 crore.

Oil India buys 50% stake in Russian oil block
Oil India Ltd has acquired 50% stake in an oil block in Russia for $ 85 mn. The deal includes a three-stage payout including $ 35 mn in cash up-front, $ 45 million in exploration and development spending and a performance bonus of up to $ 5 million.

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