Company News

  • SBI, Punjab National Bank and Bank of Baroda may be added in the next exchange traded fund (ETF) the government is setting up.
  • Wipro announces a partnership with Hewlett Packard Enterprise (HPE) to offer IT infrastructure solutions in a consumption-based or pay-per-use business model for enterprises.
  • Axis Bank said profit contracted 16.00% year-on-year to Rs. 1306 crore for the quarter ended June 2017, which was slightly ahead of estimates but grew by 7.00% QoQ.
  • Asian Paints reported a fall of 20.00% in its net profit for the June quarter at Rs. 440.7 crore against Rs. 552.6 crore posted during the same period last year.
  • Results to be declared today: HDFC, Federal Bank, L&TFH, Nestle, Yes Bank.

  • State-owned Coal India will close down high-risk mines that are beyond mitigation, Parliament was informed today.
  • L&T Infotech has reported consolidated net profit at Rs. 267.20 crore v/s Rs. 254.50 crore (QoQ).
  • Hindustan Copper signs MoU with Mishra Dhatu Nigam limited, a CPSE for joint collaboration in production of Copper-Nickel tubes and related items.
  • HDFC Bank reported 20% YoY increase in net profit in the first quarter 2017.
  • Local search engine Justdial will buyback equity shares for up to Rs. 84 crore from its shareholders at a price not exceeding Rs. 700 per share.
  • Ashok Leyland bags order for 3019 buses from KSRTC.
  • Bajaj Auto aims to expand market share to 26%, launch products under all 7 brands by December.
  • Results to be declared today: Bharti Airtel, Hero Motocorp, Asian Paints, Axis Bank.
  • Bajaj Auto’s profit fell by 5.60% year-on-year to Rs. 924 crore in the quarter ended June 2017.
  • Kotak Mahindra Bank have approved raising up to Rs. 65,000 crore to fund business expansion.
  • Wipro announced a mega buyback offer of Rs. 11,000 crore, joining the growing roaster of IT firms returning surplus cash to their shareholders.
  • TVS Motors plans Rs. 500 cr investment in ops this year, new launches.
  • Tata Cummins will invest Rs. 300 cr on BS-6 tech, expansion of Pune manufacturing unit.
  • Mahindra Group will invest USD one billion across various sectors, including in the IT field, in the US over the next five years.
  • Results to be declared today: Ashok Leyland, Atul, DHFL.
  • Trent board approves entering into definitive agreement with Trent Hypermarket Private Limited (THPL), a JV of the company, for acquiring their value fashion apparel business.
  • Axis Bank launched its digital invoice discounting platform, Invoicemart, to improve access of funds to micro, small and medium sector enterprises (MSMEs).
  • Tata Group mulls moving all tech operations under TCS.
  • IDBI Bank’s shareholders have approved a proposal to raise up to Rs. 10,000 crore through various modes including QIP.
  • HUL posted net profit up 9.30% at Rs. 1283 crore versus Rs. 1174 crore (YoY).
  • Ashok Leyland enters into strategic alliance for electric mobility solutions with Sun Mobility.
  • Tata Power will invest USD 90 million in renewablew energy arm.
  • UltraTech Cement announced Rs. 2600-crore new integrated cement plant in Madhya Pradesh with a capacity of 3.5 million tonne per annum, which will increase its capacity to 96.5 mt by FY19.
  • SBI has launched Realty Portal for home buyers.
  • ICRA has launched credit rating system to address the inherenet uncertainties in infrastructure projects.
  • Results to be declared today: Bajaj Finance, Bajaj Finserve, Canara Bank, Mindtree.
  • MRF eyes new technoloies for more efficient tyres.
  • ACC has reported 33% growth in net profit in the June quarter at Rs. 326 cr against Rs. 246 cr on the back of higher volume & better realisations.
  • NHPC is planning to raise about Rs. 5500 cr via corporate bonds.
  • Telecom major Bharti Airtel has infused more than Rs. 30,000 crore in the last two years on boosting its network infrastructure.
  • Market capitalisation of India’s most valued firm Reliance Industries surpassed Rs. 5 lakh crore level in trade on Monday. Shares of the company have been on a rising spree since the launch of its telecom unit Reliance Jio Infocomm in September last year.
  • Tata Motors develops first bio-methane bus.
  • Aditya Birla Nuvo transfers 23% stake in Idea Cellular to Grasim.
  • NOCIL board approves acquisition of 6.85 lakh of Mafatlal Industries (Rs. 18 crore) shares held by Navin Fluorine.
  • M&M to soon open its manufacturing unit in US, make off road utility vehicles.
  • SBI refuses terms of JSW’s offer to buy Monnet Ispat.
  • SMEs raised Rs. 660 crore through initial public offers in January-June 2017, which was more than three times the funds raised in the year-ago period.
  • According to the data from AMFI, Gold ETF witnessed outflow of Rs. 218 crore during the first quarter of 2017-18. Gold ETF had seen outflow of Rs. 228 crore for the same period last year, and an outflow of Rs. 81 crore in Jun 2017. Gold ETF, an instrument based on price movements, saw the outflow as investors preferred equities over it.
  • ICICI Bank, subsidiary company, ICICI Lombard General Insurance Company has filed a DRHP with the SEBI for IPO.
  • Hinduja Leyland Finance looks to raise Rs. 150-200 cr from existing shareholders; shelves its IPO plan.

  • Tata Global Bevarages clarifies that it has not taken any decision on divestment of shareholding.

  • IDFC Infrastructure lending arm will raise Rs. 1500 crore in bond.

  • Ashoka Buildcon eyes Rs. 5000 crore road projects this financial year.

  • Walmart will invest Rs. 900 cr to open 15 outlets catering to wholesalers in Maharashtra.

  • Results today to be declared: TCS.
  • Tata Steel announces that its UK unit has signed an agreement with Liberty House Group to sell its Hartlepool Submerged Arc Weld pipe mills in Britain.
  • SBI says that it would put more retail products in the digital space and use analytics to study spending habits.
  • Bharti Airtel will invest Rs. 2000 cr over the next three years to improve customer experience.
  • Tata Global Beverages to sell its stake in various Tata group listed companies to Tata Sons.
  • Jet Airways is looking to raise capital to fund its fleet induction and expansion plans.
  • HDFC ERGO to implement crop insurance scheme in Andhra Pradesh.
  • Bharat Forge is in focus – Kalyani Group and Israel Aerospace Industries (IAI) expands JV to build new maintenance centre in India for selected advanced air defense system.
  • Tata and Bharti Group are on a call to explore joint front in telecom and D2h.
  • Contribution of the country’s smaller towns – beyond top-15 cities (B15) in industry parlance – to mutual funds’ asset base surged 47% to Rs. 3.41 lakh crore by May-end.
  • Tata Motors today announced a reduction in price of its passenger vehicles by up to Rs. 2.17 lakh, making available the GST benefit to its customers.
  • Reliance Industries Ltd toppled TCS to become the country’s most valued firm in terms of market capitalisation after a week.
  • Rural Electrification Corporation launches USD 450mn bond issue.
  • Piramal Enterprises said its subsidiary, Piramal Finance, has sanctioned an additional Rs. 700 crore to ACME Solar Holdings.
  • Wipro arm, Israel Aero tie up for Bengaluru plant.
  • Cadila Healthcare says Zydus intends to enter into agreement to license Phibro’s Poultry vaccine Tech & build vaccine manufacturing unit.

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