Announcements

• Tata Consultancy Services (TCS), the country`s largest software exporter signed an eight year end-to-end IT application services contract with Scottish Water, worth an estimated 60 million pound nearly Rs 4,770.74 million on Monday.
• Anil Ambani led Reliance Energy reported on Monday a substantial increase in consolidated net profit for the year ended March 2008. During the year, the profit of the company surged 41.19% to Rs 11782.10 million from Rs 8344.80 million in the last year. The consolidated total income during the year climbed 22.54% to Rs 97,600.10 million, when compared with the prior year.The board of directors has recommended a dividend of Rs 6.30 a share (63%) on fully paid up equity shares of Rs 10 each for the year 2007-08. The dividend will be paid on the equity share capital of Rs 2,356.2 million.
• Indian Overseas Bank has disclosed a marginal rise in net profits for the quarter ended in March 2008. During the quarter, the company experienced a 5.58% rise in profits to Rs 3,059.54 million from Rs 2,897.63 million in the quarter ended March 2007.
• Domestic long distance mobile call tariffs dipped to a new low today, with cellular services market leader Bharti Airtel reducing STD rates to Rs 1.50 a minute from Rs 2.65. Bharti Airtel, 30 per cent owned by Singapore's SingTel, also announced a drastic cut in roaming rates under which incoming roaming calls will be charged at Re 1 a minute compared with the existing Rs 1.75.While roaming, the customer can make an outgoing local call at Re 1 a minute and an STD call at Rs 1.50 a minute, Bharti Airtel President Manoj Kohli told reporters here.
• Reliance Energy today reported 41.2% increase in consolidated net profit for the full year ended March 31, 2008, at Rs 1,178.21 crore when compared with Rs 834.48 crore posted in the fiscal year ended March 31, 2007. According to a release issued by Reliance Energy to the BSE today, FY08 total income was up 25.5% at Rs 9,760.01 crore from Rs 7,774.53 crore in FY07.
• Triveni Engineering has announced its Q2FY08 results. The net sales are at Rs 378.53 crore vs Rs 364.5 crore. Its OPM is at 22.5% versus 7%. It’s PAT is at Rs 34.3 crore versus Rs 5.4 crore.
• Lanco Industries Ltd has informed the Exchange that the Board of Directors of the Company at its meeting held on April 28, 2008 has recommended a dividend of 10% Re. 1/- per equity share for the year ended March 31, 2008. Further the Company has informed that the Register of Members and Share Transfer Books of the Company will remain closed from August 21, 2008 to August 27, 2008 .
• Ahead of RBI Policy meeting tomorrow, an NDTV Profit poll of economists states that 55% expect the RBI to hike repo rate, 45% feel there may be no change and 10% feel there may be a reverse repo rate hike. Repo rate may be increased by 25 bps feel Goldman Sachs, HSBC and IDBI Gifts, states NDTV Profit. The market has factored in a 25 bps repo rate hike.
• LIC Housing has come out with fourth quarter numbers. It has reported Q4 net profit at Rs 118 crore as against Rs 89.1 crore in same quarter of last year. Other income stood at Rs 39.6 crore versus Rs 12.7 crore. The company disbursed Rs 2598 crores during fouth quarter, registering a growth of 48% and likely to disburse Rs 8500 crore. For the year, the company sanctioned Rs 8618 crores, and disbursed Rs 7071 crores, a growth of 41% and 38% respectively. The Company's total income for the year was Rs 2164.92 crores versus Rs.1575.56 crores.
• Hexaware Technologies has announced its fourth quarter results. The company's Q4 PAT was at Rs 20.8 crore versus loss of Rs 81.15 crore, QoQ. Its revenues were at Rs 267 crore versus Rs 259.17 crore, QoQ.Its MTM losses at Rs 5.6 crore.
• Essar Oil has declared its results for quarter ended March 2008. The companys net sales were at Rs 47.46 crore versus Rs 265.27 crore. In the same quarter the company incurred a net loss of Rs 8.48 crore versus profit of Rs 0.99 crore.
• Siemens tumbles 10% on disappointing results:The company has announced its second quarter results. The company's Q2 standalone net profit was at Rs 1.7 crore versus Rs 108.1 crore, YoY.
• US Patent and Trademark Office, or PTO, has rejected Pfizer's application for re-issue of the Lipitor patent, reports CNBC-TV18. The US PTO's decision is in favour of Ranbaxy. The Indian pharma major plans to launch a Lipitor generic version In US from March 2010.
• Nelcast Limited has informed the Exchange regarding a press release dated April 28, 2008 titled "Nelcast records sales revenue of Rs 403.65 Cr; Capacity Expansion at a cost of Rs 60 Cr; Production capacity to reach 150,000 MT per annum by Oct'08; Exports set to increase by 100% in 2008-09".
• Among the Indian ADRs trading on the US bourses, Rediff was the major gainer by 9.42%, followed by ICICI Bank up by 5.24%. HDFC Bank & MTNL were up by 4%, while Wipro registered at gain of around 2% and Dr Reddy, Infosys and VSNL ended in Positive Territory. However, Patni Computer, Tata Motors and Satyam slipped into the red.
• ICICI Bank makes additional provisions of US$45mn for mark to market losses on its credit derivative obligations and credit-linked note portfolio in February and March 2008.
• : Amid global uncertainties, the US Inc is bullish on India as an investment destination compared to other emerging economies, but wants the country to improve its intellectual property rights regime and infrastructure, a survey said.
• ICICI Bank has applied for a license to set up a non-banking finance company.