State Bank of India is announcing its April-June quatrer financial numbers on Friday. Some analysts expect profit after tax to fall 10-15 per cent year-on-year while others expect the proift to grow by 3-8 per cent, given the mixed results from other major banks. Analysts would keenly watch the asset quality of India's largest public sector bank. M&M, EIH Associated Hotels, Sobha Developers, Sun TV and Bajaj Hindustan are also announcing their performance.
Buyback booster for Riddhi Siddhi Gluco Biols
Riddhi Siddhi Gluco Biols will remain active on Friday, as the company set it as record date for the proposed buyback. The company offers buy-back of up to 23.696 lakh shares at ₹450 a share on a proportionate basis through tender offer. That means those who are buying the shares on August 7 or after will not be eligible to participate in the buyback process. The company has also declared a dividend of ₹3 (on Face Value ₹10) for which also the ex-date remains the same.
Byke Hospitality: Bonus to keep it busy
Shares of Byke Hospitality will remain in focus, as its board is meeting on Friday to consider bonus issue. The board will also approve the un-audited financial results for the quarter ended June 30. The company posted a profit of ₹4.69 crore and revenues of ₹45.08 crore in the quarter ended March . The hotel chains major, which maily has presence in Goa, India reported a profit of ₹15.89 crore on revenues of ₹155.71 for FY-14. The stock ended flat at ₹319.8 on the BSE.