Fortis Healthcare, Spice Comm likely to see some action today

Castrol India and Gujarat Petronet are scheduled to announce their quarterly profit numbers today.

The BK Modi-controlled Spice Group has set up a core team to initiate negotiation for a possible buyout of the crisis-ridden Satyam Computer Services. The team is expected to meet officials from the Securities and Exchange Board of India (SEBI) on Monday and the government-appointed board of the company later this week, according to media reports.

Fortis Healthcare has acquired 56% stake in Bangalore based Apollo RM hospital for an undisclosed amount through one of its wholly owned subsidiaries. However reports quoted that the deal was close to Rs 10 crore.

Oil and Natural Gas Corporation (ONGC) has secured the board’s approval for initiating the second phase of the Mumbai High North (MHN) redevelopment project. The proposed project worth Rs 7133.39 crore is expected to be completed by September 2012.

Apollo Hospitals Enterprise has decided to make investments to the tune of Rs 1,800 crore over the next two years for building new hospitals across the country.

DLF has reported a net profit of Rs 178.06 crore for the December 2008 quarter as against Rs 605.84 crore for the December 2007 quarter.

Unitech has declared its unaudited results for the quarter ended December 31, 2008. The net profit of the company after tax fell drastically by 94.71%, to Rs 19.50 crore for the quarter ended December 31, 2008, against Rs 368.92 crore in the corresponding quarter a year ago.

Mahindra & Mahindra has reported a net profit of Rs 1.19 crore for the December 2008 quarter as compared to Rs 405.15 crore for the December 2007 quarter. The company’s total income dropped from Rs 2980.25 crore for the December 2007 quarter to Rs 2562.86 crore for the December 2007 quarter.

Essar Oil has reported a net loss of Rs 1230 crore for the December 2008 quarter as against net loss of Rs 14 crore for the December 2007 quarter.