Daily Stock News Today – 25.07.2017
* AMBUJA CEMENTS: Reported net profit of 3.9 bln rupees for Apr-Jun, down 13.2% on year, and
revenue from operations of 32.2 bln rupees, up 11.9% on year. The board has recommended paying an interim dividend of 1.6 rupees per share.
* AMTEK AUTO: A National Company Law Tribunal bench in Chandigarh has admitted STATE BANK OF INDIA's petition for bankruptcy proceedings against the company.
* BHARTI INFRATEL: Reported consolidated net profit of 6.6 bln rupees for Apr-Jun, down 12.2% on year, and revenue from operations of 15.9 bln rupees, up 9.7%.
* EQUITAS HOLDINGS: Goldman Sachs India Fund sold nearly 1.8 mln shares of the company through a bulk deal on the BSE.
* FLEXITUFF INTERNATIONAL: Board has approved separation of flexible intermediate bulk container business in Pithampur, Madhya Pradesh, into a wholly-owned subsidiary.
* HDFC BANK: Managing Director Aditya Puri said insolvency proceedings to recover stressed assets should not be the first choice of lenders, and must be used only as the last resort when a borrower cannot be turned around.
* IDEA CELLULAR: Competition Commission of India has approved the merger of the company with Vodafone India.
* IL&FS INVESTMENT MANAGERS: Will raise a $1-bln infrastructure fund from pension funds in South Korea and Japan to invest in Indian companies.
* INDIABULLS HOUSING FINANCE: Reported consolidated net profit of 7.9 bln rupees for Apr-Jun, up 25.1% on year, and revenue from operations of 29.6 bln rupees, up 24.6%. The board has recommended paying interim dividend 9 rupees per share. The board has approved raising up to 250 bln rupees through secured non-convertible debentures and 30 bln rupees via unsecured non-convertible debentures
* INFOSYS: Regulatory complexity threatens to derail the proposed $2-bln share repurchase programme of the company. Regulatory differences between India and the US, where its shares are listed, have complicated the matter.
* INTELLECT DESIGN ARENA: A consortium led by the company and INFIBEAM INCORPORATION has pipped TATA CONSULTANCY SERVICES and Sify to bag one of the largest government information technology contracts.
* IRB INFRASTRUCTURE DEVELOPERS: Will start collecting toll from its 20-bln-rupee road project on the Gujarat-Rajasthan border in the current quarter ending September, said Sudhir Rao Hoshing, joint managing director said. Board has approved adding its Pathankot-Amritsar road project to the companypromoted Infrastructure Investment Trust.
* JUST DIAL: Board has approved buyback of 1.19 mln shares worth 839.1 mln rupees for a price of up to 700 rupees per share.
* L&T FINANCE HOLDINGS: Plans to issue non-convertible debentures worth 2.50 bln rupees on private placement basis. Wholly-owned subsidiary L&T Infrastructure Finance Co is also looking to issue nonconvertible debentures worth 2.50 bln rupees via private placement.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Reported consolidated net profit of 584.24 mln rupees for Apr-Jun, down 45.7% on year, and consolidated revenue from operations of 18.7 bln rupees, up 19.6%.
* NEW DELHI TELEVISION: Said the recent order of the Income Tax Appellate Tribunal was misreported in a section of media in a case relating to investment of $150 mln made in 2008 in the company by a USbased television network NBC. Is restructuring its newsroom to focus resources on mobile journalism to Speed up news services to its viewers.
* NITIN FIRE PROTECTION INDUSTRIES: IFCI has sold 2.4 mln shares of the company through a bulk deal at 6.58 rupees a share.
* RATNAMANI METALS & TUBES: Has received two orders for supply of helically-submerged arc welded pipes worth around 2.14 bln rupees and 1.25 bln rupees.
* RELIANCE CAPITAL: Reliance Nippon Life Asset Management Co saw a 24% on-year rise in its average assets under management to 3.63 trln rupees in Apr-Jun.
* RELIANCE INDUSTRIES: May award contracts related to its planned 400-bln-rupee investment in the KG-D6 basin by the end of Jul-Sep quarter.
* TATA COMMUNICATIONS: Reported Apr-Jun consolidated net profit of 322.5 mln rupees, down 22.8% on year. Consolidated income from operations was at 43.1 bln rupees, down 3.3% on year.
* TATA CONSULTANCY SERVICES: The Company’s iON is taking its education marketplace overseas as it taps schools, colleges and corporate houses to offer online courses.
* UPL: Expects to gain from the closure of several small chemical manufacturing units in China, the
company said in its annual report for 2016-17 (Apr-Mar).
* WIPRO: Arm Wipro Ventures has invested an undisclosed sum in a New York-based venture capital fund.
* ZEE ENTERTAINMENT ENTERPRISES: Has completed the acquisition of general entertainment business of three Anil Ambani group companies--Reliance Big Broadcasting, Big Magic, and Azalia Broadcast. Reported consolidated net profit of 2.5 bln rupees for Apr-Jun, up 15.9% on year, and revenue from operations of 16.4 bln rupees, down 0.2%. Board has approved the appointment of Bharat Kedia as chief financial officer.
* AMBUJA CEMENTS: Reported net profit of 3.9 bln rupees for Apr-Jun, down 13.2% on year, and
revenue from operations of 32.2 bln rupees, up 11.9% on year. The board has recommended paying an interim dividend of 1.6 rupees per share.
* AMTEK AUTO: A National Company Law Tribunal bench in Chandigarh has admitted STATE BANK OF INDIA's petition for bankruptcy proceedings against the company.
* BHARTI INFRATEL: Reported consolidated net profit of 6.6 bln rupees for Apr-Jun, down 12.2% on year, and revenue from operations of 15.9 bln rupees, up 9.7%.
* EQUITAS HOLDINGS: Goldman Sachs India Fund sold nearly 1.8 mln shares of the company through a bulk deal on the BSE.
* FLEXITUFF INTERNATIONAL: Board has approved separation of flexible intermediate bulk container business in Pithampur, Madhya Pradesh, into a wholly-owned subsidiary.
* HDFC BANK: Managing Director Aditya Puri said insolvency proceedings to recover stressed assets should not be the first choice of lenders, and must be used only as the last resort when a borrower cannot be turned around.
* IDEA CELLULAR: Competition Commission of India has approved the merger of the company with Vodafone India.
* IL&FS INVESTMENT MANAGERS: Will raise a $1-bln infrastructure fund from pension funds in South Korea and Japan to invest in Indian companies.
* INDIABULLS HOUSING FINANCE: Reported consolidated net profit of 7.9 bln rupees for Apr-Jun, up 25.1% on year, and revenue from operations of 29.6 bln rupees, up 24.6%. The board has recommended paying interim dividend 9 rupees per share. The board has approved raising up to 250 bln rupees through secured non-convertible debentures and 30 bln rupees via unsecured non-convertible debentures
* INFOSYS: Regulatory complexity threatens to derail the proposed $2-bln share repurchase programme of the company. Regulatory differences between India and the US, where its shares are listed, have complicated the matter.
* INTELLECT DESIGN ARENA: A consortium led by the company and INFIBEAM INCORPORATION has pipped TATA CONSULTANCY SERVICES and Sify to bag one of the largest government information technology contracts.
* IRB INFRASTRUCTURE DEVELOPERS: Will start collecting toll from its 20-bln-rupee road project on the Gujarat-Rajasthan border in the current quarter ending September, said Sudhir Rao Hoshing, joint managing director said. Board has approved adding its Pathankot-Amritsar road project to the companypromoted Infrastructure Investment Trust.
* JUST DIAL: Board has approved buyback of 1.19 mln shares worth 839.1 mln rupees for a price of up to 700 rupees per share.
* L&T FINANCE HOLDINGS: Plans to issue non-convertible debentures worth 2.50 bln rupees on private placement basis. Wholly-owned subsidiary L&T Infrastructure Finance Co is also looking to issue nonconvertible debentures worth 2.50 bln rupees via private placement.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Reported consolidated net profit of 584.24 mln rupees for Apr-Jun, down 45.7% on year, and consolidated revenue from operations of 18.7 bln rupees, up 19.6%.
* NEW DELHI TELEVISION: Said the recent order of the Income Tax Appellate Tribunal was misreported in a section of media in a case relating to investment of $150 mln made in 2008 in the company by a USbased television network NBC. Is restructuring its newsroom to focus resources on mobile journalism to Speed up news services to its viewers.
* NITIN FIRE PROTECTION INDUSTRIES: IFCI has sold 2.4 mln shares of the company through a bulk deal at 6.58 rupees a share.
* RATNAMANI METALS & TUBES: Has received two orders for supply of helically-submerged arc welded pipes worth around 2.14 bln rupees and 1.25 bln rupees.
* RELIANCE CAPITAL: Reliance Nippon Life Asset Management Co saw a 24% on-year rise in its average assets under management to 3.63 trln rupees in Apr-Jun.
* RELIANCE INDUSTRIES: May award contracts related to its planned 400-bln-rupee investment in the KG-D6 basin by the end of Jul-Sep quarter.
* TATA COMMUNICATIONS: Reported Apr-Jun consolidated net profit of 322.5 mln rupees, down 22.8% on year. Consolidated income from operations was at 43.1 bln rupees, down 3.3% on year.
* TATA CONSULTANCY SERVICES: The Company’s iON is taking its education marketplace overseas as it taps schools, colleges and corporate houses to offer online courses.
* UPL: Expects to gain from the closure of several small chemical manufacturing units in China, the
company said in its annual report for 2016-17 (Apr-Mar).
* WIPRO: Arm Wipro Ventures has invested an undisclosed sum in a New York-based venture capital fund.
* ZEE ENTERTAINMENT ENTERPRISES: Has completed the acquisition of general entertainment business of three Anil Ambani group companies--Reliance Big Broadcasting, Big Magic, and Azalia Broadcast. Reported consolidated net profit of 2.5 bln rupees for Apr-Jun, up 15.9% on year, and revenue from operations of 16.4 bln rupees, down 0.2%. Board has approved the appointment of Bharat Kedia as chief financial officer.
