Company News

  • Vodafone India and Idea Cellular to sell their tower business to American Tower Corporation for $1.2 bn.
  • Bharti Airtel plans to raise 400$ million by selling 3.50% in tower arm.
  • Spicejet reported net profit of Rs. 104.53 cr for 2nd quarter against Rs. 58.61 cr in the year-ago period, jumping 78% YoY.
  • Tata Steel SEZ Ltd seeks extention of formal nod for Gopalpur project in Odisha.
  • Idea Cellualr has posted net loss of Rs. 1176 cr in the 2nd quarter, impacted by high competition & regulatory changes against profit of Rs. 91.50 cr in the year-ago period.
  • Abbott India soared over 12% on Monday after the company reported 83.31% jump in Q2 net profit to Rs. 137.52 cr against Rs. 75.02 cr for the corresponding period of last fiscal.
  • Result to be declared today: Sun Pharma, Bank of Baroda, Eicher Motors, GAIL, Grasim Industries, Cadila Healthcare, Bata India.
  • Reliance Industries may buy part of textile maker Alok Industries.
  • SBI will open more branches in Nepal and consider options to re-enter Vietnam under a three year goal.
  • NHAI may raise Rs. 10000 cr by selling 10 year bonds.
  • Tata Motors consolidated net profit for the quarter ended Sep rose 195% to Rs. 2483 cr, from Rs. 828 cr a year ago.
  • Google is in talks with Mumbai based service engine Just dial to acquire its business.
  • Result to be declared today: State Bank of India, Bosch, Nestle, Mahindra & Mahindra, MRF.
  • Cipla is planning to enter the branded formulation market in China in coming quarters either by acquiring a company or collaborating with a local partner.
  • Group hospitality firm Indian Hotels Company said Tata Sons has raised its holding in the company by 1.78% to 29.79% pursuant to a rights issue.
  • Arvind Ltd has demerged its branded apparel & engineering businesses into separate companies & plans to list them on stock exchanges through National Company Lwa Tribunal-driven process.
  • Arvind Ltd has reported 14.00% fall in Sep quarter net profit at Rs. 62 cr largely due to lower demand post implementation of GST.
  • Ashok Leyland Q2 profit up 13.5% at Rs. 334.20 crore against Rs. 294.40 cr in last fiscal.
  • Result to be declared today: Aurobindo Pharma, Jindal Steel & Power, Tata Motors, HPCL.
  • Reliance Communications will shut down voice call service from 1st December and its customers can move to other networks by the end of the year, as per direction issued by telecom regulator TRAI.
  • Torrent Pharmaceuticals shares gained over 3.00% intraday on Monday in the opening as investors reacted to the acquisition of Unichem Labs by the firm. The company has entered into a definitive binding agreement with Unichem to acquire its branded business of India and Nepal for a consideration of Rs. 3600 crore.
  • IOC is to raise Rs. 700cr through bond sale.
  • Titan has posted growth of 67.40% in net profit at Rs. 278 cr vs Rs. 166 cr (YoY).
  • Torrent Pharma has posted 1.40% rise in net profit at Rs. 204 cr vs Rs. 207 cr (YoY).
  • Result to be declared today: REC, Torrent Power, Larsen & Toubro Infotech.
  • Natco Pharma’s board has given green signal to raise Rs. 1500 crore through sale of shares to investors in coming months.
  • PNB board approves management to partially sell its stake in PNB Housing.
  • Adani Enterprise is in talks with China Machinery Engineering for financing of coal mine project in Australia.
  • Piramal Group is in race to buy stakes in Binani Cement, Electrosteel Steels.
  • SBI boost to borrowers by offering home loans starting at 8.30% and auto loans at 8.70%.
  • ITC forayed into fresh fruit & vegetables market with a new brand Farmland.
  • Reliance Communications share price surged as much as 16% in morning on Tuesday after the company unveiled new debt repayment plan yesterday evening.
  • IDFC Ltd and Shriram Group call off a potential merger due to valuation issues.
  • Tata Steel has reported consolidated net profit at Rs. 1017.80 crore versus loss of Rs. 49.40 crore.
  • IDFC has reported 35.83% fall in net profit at Rs. 180.80 crore versus Rs. 281.80 crore (YoY).
  • HDFC has reported a standalone profit growth of 15.00% at Rs. 2101.12 crore for the quarter ended September 2017, compared with Rs. 1826.50 crore in same quarter last fiscal.
  • NHAI has revised the highways award target to 10,000 kilometers for financial year 2017-18.
  • Hindustan Aeronautics, Future Supply Chain Solutions, Gandhar Oil Refinery (India) Ltd and Aster DM Healthcare gets SEBI’s approval to launch their IPO.
  • Result to be declared today: Bharti Airtel, Dabur, Divislab, IDBI Bank.
  • ICICI Bank has posted net profit down 33.70% at Rs. 2058 crore versus Rs. 3102.30 crore (YoY).
  • Navin Fluorine has posted net profit at Rs. 42.80 crore versus Rs. 37.9 crore (YoY).
  • Tata Sons is to invest Rs. 30000 crore more in Tata Teleservices.
  • L&T Finance Holdings reported 45.00% increase in consolidated net profit at Rs. 360 cr against Rs. 248 cr in the year ago period.
  • ONGC reported a 3.10% rise in its second quarter net profit at Rs. 5130 cr as impressive gain from rising oil prices were taken away by fall in government mandated natural gas rates.
  • Hindustan Unilever to shell out Rs. 2000 crore for dividend payment in FY18.
  • Nasdaq-listed Ebix Inc & BSE have signed Memorandum of Understaning (MoU) to set up joint venture to develop an insurance distribution network in India.
  • Adani Gas is in talks to raise around 250 $ million through bond issuance.
  • L&T Finance Holdings reported 45.00% increase in consolidated net profit at Rs. 360 cr against Rs. 248 cr in the year ago period.
  • Yes Bank has reported a profit growth of 25.00% YoY at Rs. 1002.70 crore for July-September quarter despite sharp spike in provisions, but asset quality deteriorated on sequential basis.
  • Result to be declared today: ICICI Bank, ITC, Maruti, Navin Flourine.
  • Mahindra & Mahindra (M&M) Approves scheme of arrangement between Mahindra Two Wheelers & M&M.
  • HCL Infosystems board approves Rs. 499 crore fund raising via rights issue.
  • Tata Teleservices board approves raising up to Rs. 20,000 crore via securities.
  • Aurobindo Pharma gets USFDA approval for Albuterol Sulfate inhaler, used for lung problems.
  • Result to be declared today: Havells India, Hindustan Zinc, NOCIL.
  • Arvind signs MoU with Gujarat for Rs. 300 cr apparel park.
  • Axis Bank reported 35% increase in net profit at Rs. 432 cr against Rs. 319 cr in the year ago period.
  • Reliance Industries & its partner BP Plc of UK will invest about $1.5 bn to bring to production six satellite gas discoveries in the flagging KG-D6 block by 2022.
  • Wipro has reported 5.50% sequential growth & 6.00% YoY increase in net profit to Rs. 2189.50 cr for the Sep quarter on higher spending by Banking, Financial Services & Insurance clients.
  • United Phosphours Ltd. plans to invest Rs. 6000 cr to set up plant to manufacture agro chemicals & intermediates at Dahej in South Gujarat.
  • NALCO is planning to set up two joint venture with US, Russia companies in Odisha.
  • Kerala-based Muthoot Microfin, a subsidiary of the gold loan player Muthoot Fincorp, is planning an IPO.
  • Result to be declared today: Ultratech Cement.
  • MCX would unveil the country’s first commodity options trading with gold.
  • Mahindra & Mahindra Financial Services enters into share purchase deal, shareholders deal, ancillary deal with Inclusion Resources, Mahindra Insurance Brokers.
  • Bajaj Finserv posted 13% increase in second quarter consolidated net profit at Rs. 652 cr against Rs. 576 cr in the year-ago period.
  • Colgate, reported a fall of 2.00% in its Sep quarter net profit at Rs. 177.60 crore against Rs. 181.30 crore during the same period last year.
  • Result to be declared today: ACC, Atul, Axis Bank, Bajaj-Auto, Tata Sponge, Wipro.
  • HDFC Standard Life receives SEBI approval for IPO.
  • Indian Oil Corporation drops Chennai Petroleum merger plan.
  • Reliance Industries reported 12.50% increase in consolited net profit of Rs. 8109 cr in the Sep quarter, supported by record earning i the petrochemical business & high refining margins.
  • Bharti Airtel has concluded the deal with Millicom to combine their operations in Ghana.
  • TCS is to sell real estate assets in Maharashtra and Gujarat, to raise Rs. 500 crore.
  • HUL CFO PB Balaji Resigns; Srinivas Phatak will replace PB Balaji as HUL CFO with effective 1st December.
  • Mahindra logistics may launch IPO by October-end.
  • Reliance Communications calls of merger with Aircel.
  • Sintex Industries approves allotment of 81 lakh shares Equity Shares of to FCCB bonds holder upon exercise of their conversion right.
  • ONGC gets green clearance for Rs. 456 crore drilling project in Assam.
  • Power Grid enters into a term loan agreement for Rs. 3270 crore with ICICI Bank.
  • Hero MotoCorp has sold over a million units in the festive season.
  • Adani Group is set to enter the airport business with an international airport at Mundra.
  • Tata Motors wins bid to sell 10000 electric cars.
  • Bajaj Finance, HPCL, UPL to be added in Nifty 50, while Tata Power, ACC, Bank of Baroda, Tata Motors DVR to be excluded.
  • L&T may sell some power and road projects.
  • Mindtree gets RBI approval & completes transfer of business of Bluefin Solutions to company.
  • GAIL India stock rallied 8% intraday today after the Petroleum and Natural Gas Regulatory Board (PNGRB) put up a consultation document on unified pipeline tariff proposing a 60% hike in tariff by the company.
  • ICICI Bank launches a mortgage product assuring borrowers 1% cash back on their monthly instalment payment.
  • NHPC receives shareholders’ approval to raise Rs. 2000 cr via bonds.
  • Bharti Airtel to invest over Rs. 18000 cr towards development of infrastructure in the telecom sector this year.
  • L&T Construction bags orders worth Rs. 2170 cr.
  • Lakshmi Vilas Bank gets board’s nod to raise Rs. 800 cr via rights issue.
  • Air India ties up with PNB, IndusInd for Rs. 3250 cr loan.
  • Reliance Power gets shareholders’ nod to raise borrowing limit.
  • ONGC may sell its holding in IOC and GAIL to fund the Rs. 33,000 crore acquisition of HPCL.
  • Japanese car maker Nissan launched its pre-owned car business in India as part of its efforts to tap the fast-growing segment in the country.
  • Power Grid announced commissioning of WR-NR HVDC interconnector for IPP projects in Chhattisgarh.
  • Piramal Finance launches its wholly-owned subsidiary, Piramal Housing Finance, with an initial capital of Rs. 1000 cr.
  • Prince Pipes and Fittings files draft prospectus with SEBI to raise about Rs. 800 cr through IPO.
  • Reliance is in talks to acquire MSO DEN Networks.
  • JSW Energy inks an agreement with the Gujarat government for battery operated vehicles production.
  • Tata Trusts to invest $70 mn over the next 5 years to fight malaria.
  • IDFC Ltd and Shriram Group decide to abandon the merger plan worked out in July this year and are instead are working on creating a less complicated structure.
  • L&T Finance Holdings invests Rs. 150 cr in Pune-based Saarthi Group’s two residential projects.
  • Reliance Capital to set up a standalone health insurance company.
  • Reliance Infrastructure is in talks with some Japanese firms to participate in the Rs. 1trillion worth of defence projects on the anvil and is also planning a rights issue for Reliance Naval & Engineering.
  • Indian Oil Corporation’s board approves setting up of a Rs 27460 cr refinery by its subsidiary, Chennai Petroleum Corp.
  • ONGC to acquire government’s stake in HPCL in bulk or block deal in November-December.
  • BHEL gets shareholders’ nod for the proposal to issue 1 new equity bonus share for every 2 existing shares.
  • Jaypee Group gets shareholders’ approval to raise Rs. 2000 cr through securities.
  • Motilal Oswal Real Estate raises over Rs. 1000 cr for its third real estate fund.
  • Novartis India board clears share buyback worth Rs. 231 cr.
  • Siemens sells its Worli office property to Whispering Heights Real Estate Pvt Ltd for Rs. 610 cr.
  • Thomas Cook India to acquire Tata Capital’s wholly owned subsidiaries, Tata Capital Forex and TC Travel and Services.
  • Apollo Micro Systems Ltd files draft papers with SEBI to raise about Rs. 156 cr through an IPO.
  • NMDC plans a capital expenditure of Rs. 3000 cr.
  • SBI launches India’s first bond index series for foreign investors at the London Stock Exchange to enable investors and market participants to track Indian bond movement.
  • NTPC gets shareholders’ nod to raise Rs. 15000 cr through non-convertible bonds on private placement basis.
  • GlaxoSmithKline Pharmaceuticals’ board approves the sale of around 60 acres land of the company at Thane to Oberoi Realty for Rs. 555 cr.
  • Amazon acquires 5% stake in Shoppers Stop for about Rs. 180 cr.
  • Punjab National Bank to raise Rs. 5000 cr equity capital from the markets to fund growth.

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