TOP CORPORATE NEWS - 05 NOV 2015

1. Jubilant Foodworks Q2 net profit at Rs23.88 crore

Jubilant Foodworks Ltd announced the following unaudited Standalone results for the quarter ended September 30, 2015:

Net profit at Rs23.88 crore vs Rs29 crore (YoY)

Total Income at Rs589.15 crore vs Rs503.30 crore (YoY)

2. Cummins India Q2 net profit at Rs198.62 crore

Cummins India Ltd announced the following unaudited Standalone results for the quarter ended September 30, 2015:

Net profit at Rs198.62 crore vs Rs202.40 crore (YoY)

Total Income at Rs1257.69 crore vs Rs1216.70 crore (YoY)

3. Dr Reddy's to market Biocodex products in Romani
Dr Reddy's to market Biocodex products in Romania - Sentimentally positive

4. Gujarat approves proposal of Indian Oil’s Gujarat Refinery

The Gujarat government has approved a proposal of Indian Oil’s Gujarat Refinery seeking acquisition of required 75 acres of land for its expansion projects. It will expand its current 13.7 MMTPA capacity to 18 MMPTA. The proposal was long pending with the government. – Positive for IOCL

5. Lenders ask Essar Group to repay its loan

Lenders including ICICI Bank, Axis Bank and Standard Chartered have asked the Essar Group to repay its loan, failing which the lenders would consider selling down these loans.- Sentimentally negative for Essar Group companies Essar Oil, Essar Steel

6. PM launches 3 gold schemes and national gold coin

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