Ashoka Buildcon’s shares advanced 4.6% intraday Thursday as the company has received Letter of Intent (LoI) valued Rs 282.73 Crore. The company has obtained LoI from Jharkhand Electricity Board, for execution of urban electrification works for Ranchi and Medini Nagar towns, with the other developments, under Integrated Power Development Scheme.
The consolidated net profit of Asian Paints Limited rose 10.4 percent to Rs 462.22 Cr, on 8.9 percent rise in revenue from operations to Rs 4.416.23 Cr, in Quarter-4 March 2017 year on year. The result was announced on Thursday, 11 May 2017.
Kotak Mahindra Bank announced that its QIP (Qualified institutional placement) issue of shares opened ON thursday, 11 May 2017, fixing its floor price at Rs 913.24 per share of Rs 5 each. The Kotak Mahindra will consider issue price on 16 May 2017.
Vardhman Textiles unveiled that its yarn sales rose 2.96% to 53,374 metric tons in fourth quarter March 2017 year-on-year. The sales of Grey fabric declined 2.58% to 453 lakh meters in Q4 March 2017 year-on-year, while processed fabric sales jumped 11.95% to 328 lakh meters in Q4 March 2017 y-o-y.
Shares of Reliance Infrastructure will be in limelight, as Delhi Airport Metro Express announced that it has been awarded compensation of Rs, 2,950 Cr, by a 3-member Arbitration Tribunal in an agreed decision. The announcement was made on Thursday, 11 May 2017.