Adani gains on authorisation for $21.7 billion coal project

LIC Housing Q4 net profit up 18% (YoY)

LIC Housing Finance Ltd has announced the following results for the quarter & year ended March 31, 2016:

Standalone:For the Quarter ended March 31, 2016 (Audited)

Net Profit surged by 18.46% to Rs448.02 crore Vs Rs378.18 crore (YoY).Total Income increased by 14.44% to Rs3273.94 crore Vs Rs2860.59 crore (YoY).

Alkem Labs slumps facing trial by German regulator

Shares of Alkem Labs dropped 5% to Rs1276 on NSE in an otherwise positive market as the company has been accused of fudging trial data by German regulator.

Alkem Laboratories has been accused by Germany`s health regulator of fudging data on clinical trials of an antibiotic and brain disorder drug, becoming the third Indian firm to be scrutinised since 2014 for suspected manipulation of trial data.

Reliance Industries plans to shut down unit of SEZ Refinery

Reliance Industries is planning to shut down one crude distillation unit of SEZ Refinery for routine Maintenance & Inspection activities from May 01, 2016, for about 3 weeks.

Adani gains on authorisation for $21.7 billion coal project

Adani Enterprises has got authorization by traditional land owners for its 21.7 billion dollar coal mine project in Australia.

The stock opened at Rs81.25 marking days low at Rs81.20 with an intraday high of Rs83.80 and is currently trading at Rs82.70 up by 2.54% on NSE so far.

Aditya Birla subsidiary to sell 15% stake in company

Media flash- Aditya Birla’s subsidiary My universe is looking to sell 15% stake in the company for $100 million, leading to a consideration of $670 million.This is sentimentally positive for the Company.

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