Axis Bank finalises schedule for Q3 results; Oil India fixes record date for bonus shares

Axis Bank, India's third-largest private sector lender, informed the Bombay Stock Exchange (BSE) on Monday that it will be announcing its third quarter (Q3) results on January 19, 2017. The much-maligned bank that has been facing scrutiny for alleged irregularities since demonetisation saw its share price close 1.11 percent lower at Rs 467 on Monday.

"AXIS Bank Ltd has informed BSE that the meeting of the Board of Directors of the Bank will be held on January 18, 2017 and will continue on January 19, 2017, inter alia, to consider and approve the Unaudited Financial Results of the Bank, for the Quarter / Nine months ending as on December 31, 2016 (Q3), subject to a limited review by the Statutory Auditors of the Bank," the lender said in a regulatory filing to the exchange.

Axis Bank has been facing extraordinary embarrassment for many alleged frauds detected by income tax and other government authorities over the past few weeks, including opening fake accounts for laundering black money.

The bank's Q2 results were disappointing, with net profit falling 83 percent to Rs 319 crore in comparison to Rs 1,915.64 crore in the year-ago period. 

Oil India, a public sector firm, fixed the record date as January 13, 2017 for its recently-declared bonus shares in the ratio of 1: 3. Other PSU firms in the oil and gas sector such as ONGC, HPCL, IOC and BPCL had also declared bonus shares this year.

"Oil India Ltd has informed BSE that the Company has fixed January 13, 2017 as the Record Date for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus shares in the ratio of 1:3 (i.e. 1(one) bonus equity shares of Rs .10/- each for every 3 (three) existing fully paid up equity share of Rs 10/- each, subject to the approval of shareholders," the company said in a regulatory filing.

The BSE Sensex closed 115 points lower at 26,374 on Monday in the absence of any fresh trigger, apart from a wait-and-watch stance by investors.

"With markets heading into year-end holidays, and with FIIs showing preference for cash, stocks slipped slower. Markets will now look forward to RBI's 22 December brief on demonetisation and GST council meet for fresh cues," Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services, said in a note.

Foreign institutional investors (FIIs) were net sellers of Indian equities worth Rs 535 crore on Monday, according to provisional data published by the National Stock Exchange (NSE).

By the way, Indian cricketer Karun Nair hit an unbeaten, triple century on Monday, check it out.  Also, Miss Puerto Rico Stephanie Del Valle is Miss World 2016; she won title on Sunday at a glittering ceremony held in Washington.