TOP CORPORATE NEWS - 25 JAN 2016

Mcleod Russel Q3 net profit down 29%

Mcleod Russel India Ltd has announced the following Q3 Un-Audited Standalone results for the quarter ended December 31, 2015:

Net Profit dipped by 29.15% to Rs56.98 crore Vs Rs80.43 crore.

Total Income increased by 8.32% to Rs532.36 crore Vs Rs491.45 crore.

MRF net profit surges by 20%

MRF has announced the following Unaudited Standalone results for the quarter ended December 31, 2015 (YoY)

Net Profit rose by 19.98% to Rs388.15 crore Vs Rs323.51 crore.

Total Income decreased by 2.81% to Rs3283.47 crore Vs Rs3378.63 crore.

HDFC Bank Q3 profit meets estimates

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

Net Profit surged by 20.12% to Rs3356.84 crore Vs Rs2794.51 crore.

Total Income increased by 22.45% to Rs18283.31 crore Vs Rs14930.74 crore.

Govt mulls to increase capital infusion above Rs70000 Cr in PSBs

The Government is considering infusion of more than initially announced Rs70, 000 cr in public sector banks (PSBs) to meet their capital needs.

The Reserve Bank of India has pointed out that current capital pledges may fall short of the requirement due to increase in stressed assets and has sought an additional Rs26,000 crore from the government to be injected into state-run banks by 2018.

Hero Motocorp drops as arm plans to sell stake

Shares of Hero Motocorp dropped 3% Rs2519 on NSE in an otherwise weak markets on reports that the consumer finance arm is looking to sell up to 10% stake in the company to raise about $120 mln.

The stock opened at Rs2605 marking days low at Rs2508.35 and hit an intraday high of Rs2610.00 on NSE so far.

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