Shares News PSU OMCs in focus after reduction in fuel price

Shares of state-run oil marketing companies (PSU OMCs) would be in spotlight after Indian Oil Corporation (IOCL) declared a drop in petrol rate by 32 paise/litre and diesel by 85 paisa a litre with achieve from Saturday, 16 Jan. 2016. Petrol in Delhi now costs Rs 59.03/litre while diesel would cost Rs 44.18 a litre. 

Meanwhile, the government has improved the basic excise duty on unbranded petrol to Rs 8.48/litre from Rs 7.73/litre and the same on unbranded diesel to Rs 9.83/litre from Rs 7.83 a litre with effect from 16 Jan. 2016. 

SBI aftermarket hours on Friday, 15 Jan. 2016 declared that the committee of directors, authorized by the bank's board of directors, at its meeting held on 15 Jan. 2016, inter-alia, authorized the bank to look for shareholders' approval and to write to the Government of India (GoI) and the Reserve Bank of India (RBI) looking for their approval for increasing equity capital upto Rs 15000 crore till 31 March 2017 by different means. 

BOI aftermarket hours on Friday, 15 Jan. 2016 declared that it has bought the additional 49 Per cent bet in its subsidiary Bank of India (BOI) Shareholding from BSE. Post this acquisition, BOI Shareholding has become a totally owned subsidiary of Bank of India.

LIC Housing Finance's net revenue increased 21.65 Per cent to Rs 418.90 crore on 15.38 Per cent increase in total income to Rs 3156.70 crore in third quarter(Q3) Dec. 2015 over third quarter (Q3) Dec. 2014. The result was released on Saturday, 16 Jan. 2016. 

Wockhardt aftermarket hours on Friday, 15 Jan. 2016 declared that the US Food and Drug Administration (FDA) has made nine remarks after inspection of the company's manufacturing unit at Shendra in Aurangabad. Wockhardt said it will send proper reply to the inspecting authority in due course. The company added that the Shendra manufacturing unit is a new facility and currently there is no supply of products from this unit to US markets. individually, Wockhardt in its explaining issued after market hours hours on Friday, 15 Jan. 2016 with regard to media reports item titled “Wockhardt recalls 62,555 bottles of antibiotics in US” said that it had previous determined to recall, as part of remedial actions the remaining batches in the US market that were manufactured previous to USFDA import alerts even though there was no evidence of threat to patient safety from these products. Wockhardt learned the same to the stock exchanges on 28 April 2015. The newest media notes of recall of antibiotics in US forms part of the previous event, Wockhardt said.