Reliance Industries has done it again. After reporting a seven-year high gross refining margin (GRM) of $11.5 a barrel in the December 2015 quarter, the company topped this metric in the June 2016 quarter (Q1) as well.

Reliance Industries’ (RIL) GRMs stood at $11.5 a barrel in Q1 and were much ahead of Street expectations of $9-10 a barrel. This metric stood at $10.4 a barrel in the year-ago quarter, and at $10.8 a barrel in March 2016 quarter.

NIIT Technologies on Friday reported a 47.5 per cent decline in its net profit for the first quarter of current financial year at Rs 28.6 crore on account of a one-time provision of Rs 36.1 crore.

The company said it has made a provision of Rs 36 crore for amounts outstanding in respect of a government contract, where the programme has been put on hold to resolve project issues.

The Securities and Exchange Board of India (Sebi) is likely to order a forensic audit of brokers linked to the National Spot Exchange Ltd (NSEL) scam even though an initial probe into the role of these brokers did not spot too many violations, two people familiar with the developments said.

In April, Sebi had ordered an audit of top six brokers that sold products of NSEL.

Close on the heels of the successful Rs 1,243-crore L&T Infotech IPO, diversified group L&T’s technology services unit has filed draft prospectus with Sebi for a public offer to raise an estimated Rs 1,000 crore.

Larsen & Toubro would sell up to 15 per cent stake in L&T Technology Services through the proposed IPO.

NTPC, the state-owned largest power producer in the country, has plans to build new units at existing plant sites and phase out the old ones.

The government wants to move away from modernisation of old power plants and instead encourage investment in new and efficient capacity.

Labour unrest at LG’s plant in Greater Noida in Uttar Pradesh might hurt the company’s production of large home appliances. Hundreds of permanent and contract workers are agitating near the plant since Monday. The majority of the plant’s 2,000-odd workers have joined the strike.

The plant produces 8,000 refrigerators, 5,000 washing machines and 700,0000 compressors a day, apart from microwave ovens. The 19-year plant is LG’s largest in the country. The other plant near Pune produces televisions, air conditioners and smartphones.

India's biggest automaker Tata Motors will seek shareholder's approval at the upcoming annual general meeting to raise Rs 3,000 crore through non-convertible debentures (NCD) this year.

The fund raising move is complementing to the company's previous decision to raise Rs 4,400 crore through NCD for which is secured approval from the shareholders at the last AGM.

Reliance Industries (RIL) is likely to register over 25 per cent rise in consolidated net profit figures for the quarter ended June 30, 2016. However, gross refining margins (GRM) of the oil company may fall marginally on account of lower product cracks.

According to KR Choksey Shares & Securities, the brokerage house may register net profit growth of 27 per cent on year-on-year basis to Rs 7,786.6 against Rs 6,137 crore in the corresponding quarter last year. For the quarter ended March 31, 2016 the company reported net profit of Rs 7,398 crore, up 15.94 per cent, against Rs 6381 crore in the corresponding quarter a year ago.

Tata Consultancy Services (TCS), India’s largest information technology services provider, entered the financial year 2016-17 with a strong growth. The first quarter numbers beat Bloomberg estimates on both topline and profit numbers.

Net profit for the quarter at Rs 6,318 crore was up 10.6 per cent from Rs 5,708 crore in the corresponding quarter last financial year. This was the second time when TCS surpassed Street estimate on profitability, after missing it for six quarters. Sequentially, profits were down marginally by 0.4 per cent.

Shares of automobiles companies are on a roll with the S&P BSE Auto index and Nifty Auto index hitting their respective lifetime highs in an otherwise weak market on expectation of a recovery in second half, driven by a normal monsoon and demand post the implementation of the 7th Pay commission.

Hero MotoCorp (Rs 3,289) and Mahindra & Mahindra (Rs 1,485) have touched record highs, while Tata Motors (Rs 501) hit a fresh 52-week high on the BSE during intra-day trade. Bajaj Auto (Rs 2,695) and Maruti Suzuki India (Rs 4,450) were trading close to their 52-week highs.

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