TOP CORPORATE NEWS

SBI hits three-year high as Q4 profit beats Street

State Bank of India has moved higher by nearly 9%, its highest level since May 2011, after reporting a better-than-expected net profit of Rs 3,041 for the quarter ended March 31, 2014. The asset quality of the bank for the quarter improved on a sequential basis.

RCom gains on deal buzz

Reliance Communications has sored more than 3% in early trades on the buzz that China’s Citic Telecom, listed on the Hong Kong Stock Exchange, is in talks with the company to buy into its undersea cable assets.

ITC Q4 meets forecast, profit jumps 18% to Rs 2,276 cr

ITC fourth quarter net profit rising 18 percent year-on-year to Rs 2,276 crore, driven by higher revenue. Net sales grew 11.8 percent to Rs 9,145 crore in the quarter ended March 2014 from Rs 8,180 crore in same quarter last year.

HDIL Q4 net profit at Rs. 1.5bn

HDIL has posted a consolidated net profit after taxes, minority interest and share of profit of associates of Rs. 1775.70 million for the year ended March 31, 2014 whereas the same was at Rs. 733.30 million for the year ended March 31, 2013.