Companies and Markets

Companies & Markets

IOC net profit slumps 45% on inventory losses, lower margins

The country’s largest oil refiner, Indian Oil Corporation (IOC), on Thursday post ed a 45 per cent drop in its June quarter net profit after inventory losses ate into refining margins even as the petrochemical segment generated lower profit.

The company reported a net profit of Rs 4,548.51 crore, or Rs 9.60 per share, for the quarter ended June 2017, a drop of 45 per cent, against net profit of Rs 8,268.98 crore, or Rs 17.45 a share, reported in the same period of the previous fiscal. 

Sensex, Nifty turn sluggish on weak Asian shares

Key equity indices Sensex and Nifty registered losses at the open today on account of lower exposure by investors as the RBI's 25 bps rate reduction did little to lift spirits amid a weak Asian trade.

Sebi cracks down on ex-officials of MCX, FTIL

Markets regulator Sebi on Wednesday issued a disgorgement order amounting to Rs 125 crore in an alleged insider trading case in the stocks of MCX prior to the National Spot Exchange (NSEL) fiasco.

Bank of Maharashtra’s Q1 net loss widens

Public sector lender Bank of Maharashtra, on Monday reported a net loss of Rs 412.20 crore for the June quarter against a net loss of Rs 397.40 crore in the year ago quarter, as the bank's non-performing assets continued to increase and it was unable to lend more on the back of weak credit demand.