As per reports, several banks are reviewing their interest rate structures and are expected to take a call soon on whether to raise their rates or not.
After trading hours on Friday, 20 June 2008, Dredging Corporation of India reported 22.13% fall in net profit to Rs 50.15 crore on 5.56% fall in sales to Rs 190.72 crore in Q4 March 2008 over Q4 March 2007. The net profit declined 17.97% to Rs 154.82 crore on 23.12% growth in sales to Rs 705.32 crore in the year ended March 2008 over the year ended March 2007.
Securities and Exchange Board of India (Sebi) on Friday, 20 June 2008, exempted Abbott India’s parent Abbott Laboratories, US, from making an open offer for the shares of the drug firm. The parent plans to buy back 5.83% of Abbott India's shares from the open market at a price not exceeding Rs 650 each. On Friday, the Abbott India shares rose 3.68% % to Rs 554.75 on BSE.
The proposed buyback would raise the shareholding of Abbott Laboratories in Abbott India to 68.94% from the current 65.14%. "The promoters are already in control of the target company. The increase in the shareholding ... is incidental to the buy-back proposal of the target company and is not a pro-active acquisition," Sebi said in its order.
After trading hours on Friday, 20 June 2008, hospitality firm EIH reported 9.68% growth in net profit to Rs 65.38 crore on 13.14% rise in sales Rs 339.88 crore in Q4 March 2008 over Q4 March 2007. The net profit rose 8.43% to Rs 217.23 crore on 15.01% growth in sales to Rs 1079.87 crore in the year ended March 2008 over the year ended March 2007.
Pyramid Saimira Theatre said on Monday, 23 June 2008, its board will meet on 30 June 2008 to consider raising funds.