Net profit of ONGC rose 36.3% to Rs 5915.12 crore on 10.4% increase in net sales to Rs 23969.83 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 30 May 2018.
The net realisation for the quarter stood at $66.71 a barrel, compared to $54.91 a barrel during Q4 March 2017.
Meanwhile, the company's crude oil production, including condensate, dropped by 3% to 6.2 million tonne during the quarter under review, while during the same period last year, it produced 6.39 MT. The yearly production of crude oil also saw a marginal decline of 0.4%.
Overall gas production during the fourth quarter increased by 2.2% to 6.07 billion cubic meter (bcm), while it was seen at 5.94 bcm during the Q4 March 2017. For the entire financial year 2017-2018, the company's gas production increased by 5.8% to 24.61 bcm.
Ultratech Cement will be watched after the Committee of Creditors (CoC) of Binani Cement (BCL) constituted in accordance with the provisions of the Insolvency and Bankruptcy Code 2016 (Code), in its meeting held on 28 May 2018, approved the resolution plan submitted by UltraTech Cement and has issued a letter of intent (LoI) to the company for acquisition of BCL. Upon consummation of this transaction, Ultratech Cement's cement capacity (including its overseas operations) will stand augmented to 116.15 MTPA including the recently announced acquisition of cement units of Century Textiles & Industries. The announcement was made after market hours yesterday, 30 May 2018.
ICICI Bank will be watched after it announced that it will start an enquiry into whistleblower complaint. The announcement was made after market hours yesterday, 30 May 2018.
The board of directors, at its meeting held on 29 May 2018, decided to institute an enquiry to be headed by an independent and credible person, to examine and enquire into an anonymous whistle blower complaint, disclosing certain information, alleging in substance that bank's MD & CEO had not adhered to provisions relating to "Code of Conduct" of the bank and legal and regulatory provisions relating to "conflict of interest" over a period of time, as also alleging quid pro quo in the course of her work in dealing with certain customers/borrowers of the bank.
The scope of enquiry would be comprehensive and include all relevant matters arising out of and in the course of examination of the facts and wherever warranted, use of forensics/email reviews and recordal of statements of relevant personnel etc. The enquiry would also cover all connected matters in the course of the investigation to bring the matter to a final close.
In keeping with the Whistle Blower Policy of the bank, the board has mandated its Audit Committee to take all further actions in the matter to operationalize this decision including in particular, appointment of an independent and credible person as head of the enquiry, determining the terms of reference of the enquiry, the period which will be covered by the enquiry etc. The audit committee will also, in consultation with the head of the enquiry, make arrangements to assist him with independent legal and other professional support as may be required.
Granules India said that its wholly owned subsidiary, Granules Pharmaceuticals, Inc., has launched the generic version of Methylergonovine Maleate tablets, USP, 0.2mg, the generic equivalent to Methergine in partnership with West-Ward Pharmaceuticals Corp. (West-Ward), a wholly-owned subsidiary of Hikma Pharmaceuticals PLC (Hikma). Methylergonovine is a semi-synthetic ergot alkaloid used for the prevention and control of postpartum haemorrhage. The announcement was made after market hours yesterday, 30 May 2018.
Can Fin Homes said that its board will meet on Friday, 2 June 2018, to consider raising funds by issuing equity shares through rights issue and/ or qualified institutions placement and/or preferential issue to promoters or any other permissible securities, subject to such approvals as may be required. The board will also consider borrowing/raising funds by issue of on-shore and/or off-shore debt instruments including but not limited to bonds, NCDs, non-convertible subordinated debt Tier-II debentures, denominated in Indian currency and/or any foreign currency. The announcement was made after market hours yesterday, 30 May 2018.
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