Daily Stock News Today – 03.08.2017
* BAJAJ FINANCE: To pick up nearly 11% stake in mobile wallet company Mobikwik for about 2.25 bln rupees.
* BATA INDIA: Reported Apr-Jun net profit of 604.32 mln rupees, up 19.7% on year. Revenue from
operations was at 7.4 bln rupees, up 10.1% on year.
* BHARTI AIRTEL: The National Company Law Tribunal has approved the proposed merger between the company and Telenor India and has instructed the companies to hold a meeting of equity shareholders and unsecured creditors.
* CAPITAL FIRST: The board has approved increasing shareholding limits for foreign institutional
investors and foreign portfolio investors put together to up to 50% of its paid-up equity share capital.
* DILIP BUILDCON: The board has approved issuing non-convertible debentures and commercial papers worth up to 10 bln rupees each on private placement basis.
* ELECTROSTEEL STEELS: The National Company Law Tribunal has asked the interim resolution
professional, appointed for the company, to submit a 'progress report' on the corporate insolvency
resolution process within 10 days.
* GAIL (INDIA): Has started construction work of Kochi-Kottanad-Mangaluru-Bengaluru pipeline
project in Kerala with a total project cost of 32.6 bln rupees.
* INDIAN OIL CORP: Company will, on Aug 29, seek approval from shareholders to raise up to 200 bln rupees through the issuance of non-convertible debentures in the domestic and overseas market.
* INTERGLOBE AVIATION: IndiGo has launched a five-day sale on select non-stop flights at allinclusive fares starting 1,111 rupees.
* KARNATAKA BANK: Has announced a four-tier interest rate structure for its savings account
deposits, effectively reducing interest rates for customers with balances below 5 mln rupees.
* LUPIN: Has tweaked its guidance for spending on research and development for the remaining part of the current financial year as it now aims to cap investment on the same at 5 bln rupees every quarter.
* MAHANAGAR GAS: Has increased compressed natural gas and piped natural gas prices by 0.32 rupee per kg and 0.19 rupee per standard cubic mtr, respectively, with effect from midnight.
* NATIONAL FERTILIZERS: Life Insurance Corp of India acquired 35.1 mln shares, or 7.16% stake, in the company through an offer for sale on Jul 26.
* PUNJAB NATIONAL BANK: Plans to raise around 10 bln rupees in the current financial year by
selling some non-core assets, including real estate.
- Is considering cutting the savings deposit rates by up to 50 basis points.
- Religare Health Insurance has tied with the bank as a bancassurance partner for distribution of its
health and travel insurance products.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal today will continue hearing the objections to the company's pleas seeking approval for two deals that could bring down its debt by 250 bln rupees.
* RELIANCE INFRASTRUCTURE: Reported Apr-Jun consolidated net profit of 3.3 bln rupees, down 23.8% on year. Total revenue from operations was at 75.6 bln rupees, up 8% on year.
- The listing of company's infrastructure investment trust has been delayed.
* STEEL AUTHORITY OF INDIA: India Ratings has cut the company's long-term issuer rating to AAfrom AA.
* TATA STEEL: Thyssenkrupp AG is considering a radical break-up plan as a possible alternative to the proposed combination of its European steel operations with Tata Steel Europe.
* VOLTAS: Reported Apr-Jun consolidated net profit of 1.9 bln rupees, up 17.8% on year. Total revenue from operations was at 19.7 bln rupees, up 6.1% on year.
* WIPRO: Has inked a pact with Austria-based software testing company, Tricentis, to provide enhanced quality engineering for DevOps.
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* BAJAJ FINANCE: To pick up nearly 11% stake in mobile wallet company Mobikwik for about 2.25 bln rupees.
* BATA INDIA: Reported Apr-Jun net profit of 604.32 mln rupees, up 19.7% on year. Revenue from
operations was at 7.4 bln rupees, up 10.1% on year.
* BHARTI AIRTEL: The National Company Law Tribunal has approved the proposed merger between the company and Telenor India and has instructed the companies to hold a meeting of equity shareholders and unsecured creditors.
* CAPITAL FIRST: The board has approved increasing shareholding limits for foreign institutional
investors and foreign portfolio investors put together to up to 50% of its paid-up equity share capital.
* DILIP BUILDCON: The board has approved issuing non-convertible debentures and commercial papers worth up to 10 bln rupees each on private placement basis.
* ELECTROSTEEL STEELS: The National Company Law Tribunal has asked the interim resolution
professional, appointed for the company, to submit a 'progress report' on the corporate insolvency
resolution process within 10 days.
* GAIL (INDIA): Has started construction work of Kochi-Kottanad-Mangaluru-Bengaluru pipeline
project in Kerala with a total project cost of 32.6 bln rupees.
* INDIAN OIL CORP: Company will, on Aug 29, seek approval from shareholders to raise up to 200 bln rupees through the issuance of non-convertible debentures in the domestic and overseas market.
* INTERGLOBE AVIATION: IndiGo has launched a five-day sale on select non-stop flights at allinclusive fares starting 1,111 rupees.
* KARNATAKA BANK: Has announced a four-tier interest rate structure for its savings account
deposits, effectively reducing interest rates for customers with balances below 5 mln rupees.
* LUPIN: Has tweaked its guidance for spending on research and development for the remaining part of the current financial year as it now aims to cap investment on the same at 5 bln rupees every quarter.
* MAHANAGAR GAS: Has increased compressed natural gas and piped natural gas prices by 0.32 rupee per kg and 0.19 rupee per standard cubic mtr, respectively, with effect from midnight.
* NATIONAL FERTILIZERS: Life Insurance Corp of India acquired 35.1 mln shares, or 7.16% stake, in the company through an offer for sale on Jul 26.
* PUNJAB NATIONAL BANK: Plans to raise around 10 bln rupees in the current financial year by
selling some non-core assets, including real estate.
- Is considering cutting the savings deposit rates by up to 50 basis points.
- Religare Health Insurance has tied with the bank as a bancassurance partner for distribution of its
health and travel insurance products.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal today will continue hearing the objections to the company's pleas seeking approval for two deals that could bring down its debt by 250 bln rupees.
* RELIANCE INFRASTRUCTURE: Reported Apr-Jun consolidated net profit of 3.3 bln rupees, down 23.8% on year. Total revenue from operations was at 75.6 bln rupees, up 8% on year.
- The listing of company's infrastructure investment trust has been delayed.
* STEEL AUTHORITY OF INDIA: India Ratings has cut the company's long-term issuer rating to AAfrom AA.
* TATA STEEL: Thyssenkrupp AG is considering a radical break-up plan as a possible alternative to the proposed combination of its European steel operations with Tata Steel Europe.
* VOLTAS: Reported Apr-Jun consolidated net profit of 1.9 bln rupees, up 17.8% on year. Total revenue from operations was at 19.7 bln rupees, up 6.1% on year.
* WIPRO: Has inked a pact with Austria-based software testing company, Tricentis, to provide enhanced quality engineering for DevOps.
