All eyes on Infosys' Q4 results today

Infosys unveils its earning today, 13 April 2012. The IT major is likely to report a fall in net profit in Q4 March 2012 over Q3 December 2011 as demand remains soft in a seasonally weak quarter, made worse by an appreciating local currency. At the time of announcing Q3 December 2011 results on 12 January 2012, IT major Infosys had projected a marginal 1.25% growth in non-annualised earnings per American Depositary Share at $0.81 in Q4 March 2012 over Q3 December 2011. The company had projected a flat to 0.22% growth in consolidated revenue in dollar terms at $1.806 billion to $1.81 billion in Q4 March 2012 over Q3 December 2011.



Global agency Moody's on Thursday reportedly downgraded ratings of state-run companies ONGC and GAIL (India). Ratings for India's largest oil explorer ONGC have been downgraded to Baa1 from A2. At same time, GAIL (India) rating has been downgraded to Baa2 from A3. The outlook for the ratings of both GAIL and ONGC is stable, the report said.

Hindalco Industries' subsidiary Novelis reportedly said it will close down an aluminium plant in Quebec, Canada.

eClerx Services, through its wholly owned subsidiary eClerx Investments, has agreed to acquire Agilyst Inc., a niche operational and analytics company serving the US Media industry.

Mangalore Refinery and Petrochemicals (MRPL) said it has shut down two-third of its 15 million tonne refinery in Karnataka due to shortage of water.

Eros International Media said opening weekend collection of Rs 72 crore gross worldwide for Sajid Khan`s Housefull 2. The film, co-produced in association with Nadiadwala Grandson Entertainment released on 6 April 2012 worldwide. The film has grossed Rs 57 crore in India (net collection: Rs 40 crore) and Rs 15 crore overseas.

IDBI Bank reportedly plans to raise between $750 million and $1 billion through sale of foreign-currency-denominated bonds and loans in the current financial year.