BPCL: BPCL posted a 16 per cent increase in net profit at Rs 3,125 crore for the quarter ended 31 March, 2019. The company's gross refining margin came in at $4.58 per barrel for the full financial year as against $6.85 in the last fiscal.
HPCL: Hindustan Petroleum Corporation Ltd (HPCL) reported an increase of 70 per cent in its net profit for March quarter of FY19, helped by inventory gain and rupee appreciation that offset a dip in refinery margins.
Earnings today: As many as 97 companies are slated to declare their March quarter results today. Some of the prominent names include Tech Mahindra, Bharat Financial, Bosch, Cochin Shipyard, DLF and Jindal Steel and Power.
A high-level meeting is learnt to have been fixed between the Hinduja Group and Etihad Airways on May 23 in a bid to revive Jet Airways. Top executives of State Bank of India (SBI) will be present at the meeting to be held in Abu Dhabi, said a Business Standard report.
Foreign brokerage Nomura has maintained 'buy' rating on the stock with the target price of Rs 454 from Rs 490 earlier. The company remains a key beneficiary of rising content in vehicles and regulatory push driving adoption of safety and BS-VI, Nomura said.
Infosys: According to a report by ET Tech.com, Infosys has been asked by an Australian court to share a copy of the source code for a banking solution user interface it had built for both Qudos Bank and Australian Military Bank (AMB), within seven days.
Dr Reddy's: The pharma company is planning to spend upto USD 300 million on research and development (R&D) during this financial year.
GlaxoSmithKline Pharmaceuticals Monday reported a 16.56 per cent rise in its standalone net profit to Rs 123.03 crore for the quarter ended March 31. The company had posted a net profit of Rs 105.55 crore for the corresponding period of the previous fiscal.
The company reported revenue of Rs 1,346.7 crore (down 27.8 per cent QoQ, 4.2 per cent YoY) while EBITDA for the quarter under review stood at Rs 788 crore. The company reported ensuing consolidated PAT of Rs 524.4 crore. It has also announced a final dividend of Rs 50 per share.
Jammu & Kashmir Bank:
CLSA has maintained 'buy' on the stock with the target price of Rs 68.
's Oncology Parenteral Formulation Facility at Baddi, Himachal Pradesh, India, received United States Food & Drug Administration (USFDA) approval for manufacture and supply of Azacitidine Injection, 100 mg/vial, for the US market.