Daily Stock News Today – 26.07.2017
* ASIAN PAINTS: The Company’s Singapore-based indirect subsidiary Berger International has completedthe sale of its entire stake in UK-based Lewis Berger (Overseas Holdings) for 1.9 bln rupees to ANSA Coatings International.
* AXIS BANK: Reported Apr-Jun net profit of 13.1 bln rupees, down 16.1% on year. Net interest income was at 46.2 bln rupees, up 2% on year.
* BERGER PAINTS: Strike called by workers' union at its Goa factory since May 10 has been withdrawn.
* BHARTI AIRTEL: Reported Apr-Jun consolidated net profit of 3.7 bln rupees, down 1.6% on quarter. Revenue from operations was at 219.6 bln rupees, up 0.1% on quarter.
* BINANI CEMENT: The National Company Law Tribunal has admitted an insolvency petition against the company.
* CAN FIN HOMES: Plans to raise 4 bln rupees through bonds maturing in three years and three months, at a coupon of 7.32%.
* CIPLA: Has launched Artesunate Rectocaps/Rectal Artesunate Suppositories, anti-malarial drug with 100 mg strength.
* FUTURE LIFESTYLE FASHIONS: Bennett Coleman & Co has sold 1 mln shares of the company through a bulk deal at 319 rupees a share, as per data on the National Stock Exchange.
* HERO MOTOCORP: Reported Apr-Jun net profit of 9.1 bln rupees, up 3.5% on year. Revenue from operations was at 86.1 bln rupees, up 7.5% on year.
* ICICI PRUDENTIAL LIFE INSURANCE CO: Reported Apr-Jun net profit of 4.05 bln rupees, up 0.2% on year. Total income fell 6.8% on year to 84.56 bln rupees.
* IDEA CELLULAR: The merger of Vodafone India and the company is set to be completed ahead of time in 2018, the companies said.
* IDBI BANK: IDBI Federal Life Insurance, a joint venture between the bank, FEDERAL BANK and Belgian insurer Ageas, is looking to sell its 100% stake, which would potentially lead to a complete exit for all three stakeholders.
* INDRAPRASTHA GAS: Has hiked prices of compressed natural gas and piped natural gas in Delhi by 1.11 rupees per kg and 33 paise per standard cubic mtr, respectively.
* JET AIRWAYS (INDIA): Has signed a code-share agreement with China Eastern Airlines, according to an email received by Jet Privilege members.
* JSW ENERGY: Is planning an asset-light strategy and evaluating options in the solar rooftop and energy storage segments for a stronger foothold in renewable energy.
* L&T TECHNOLOGY SERVICES: Reported Apr-Jun consolidated net profit of 982 mln rupees, up 2.3% on quarter. Revenue from operations was at 8.2 bln rupees, up 1.3% on quarter.
* LAKSHMI VILAS BANK: Board has approved a 50-mln-share qualified institutional placement issue.
* NATIONAL FERTILIZERS: Government will sell 15% stake in the company through an offer for sale on Wednesday.
* PIDILITE INDUSTRIES: Reported Apr-Jun consolidated net profit of 2.3 bln rupees, down 16.1% on year. Revenue from operations was at 16.7 bln rupees, down 1.3% on year.
* PIRAMAL ENTERPRISES: Unit Piramal Finance has sanctioned 4 bln rupees for emerging and mid-market businesses through its newly launched Emerging Corporate Lending vertical.
* PUNJAB NATIONAL BANK: Has raised 15 bln rupees through additional tier-I bonds on a private
placement basis. The bonds were issued at a coupon of 8.98%.
* RELIANCE INDUSTRIES: Wants to make its consumer electronics and mobile phone retailing venture, Reliance Digital, a 400-bln-rupee entity by 2020.
* SHRIRAM TRANSPORT FINANCE CO: Has raised 4 bln rupees through non-convertible debentures on private placement basis.
* STATE BANK OF INDIA: The bank, AXIS BANK and INFOSYS emerged as the best-performing companies in terms of corporate disclosures this year, according to the India Disclosure Index 2017 report by FTI Consulting. The bank, PUNJAB NATIONAL BANK and BANK OF BARODA may be included in the new exchange-traded fund the government is setting up.
* SUZLON ENERGY: The company has won a 50.4-MW wind power project order from Alfanar Energy, the subsidiary of Saudi Arabia-based Alfanar Group.
* TATA STEEL: Is closely following the insolvency resolution process against embattled steelmakers. If theprocess is found to be "transparent", the company will evaluate opportunities to acquire existing manufacturing capacity, said Group Executive Director (finance and corporate) Koushik Chatterjee. Is in talks with a Russia-based company to put up a facility for downstream steel products at its Gopalpur industrial park in Odisha.
* TD POWER SYSTEMS: Has received an order from a European multinational company in India for manufacture and supply certain components of traction motors used in the electric locomotives to be supplied to Indian Railways.
* VEDANTA: Reported Apr-Jun consolidated net profit of 15.3 bln rupees, up 102.3% on year. Revenue from operations was at 193.4 bln rupees, up 26.3% on year.
* ASIAN PAINTS: The Company’s Singapore-based indirect subsidiary Berger International has completedthe sale of its entire stake in UK-based Lewis Berger (Overseas Holdings) for 1.9 bln rupees to ANSA Coatings International.
* AXIS BANK: Reported Apr-Jun net profit of 13.1 bln rupees, down 16.1% on year. Net interest income was at 46.2 bln rupees, up 2% on year.
* BERGER PAINTS: Strike called by workers' union at its Goa factory since May 10 has been withdrawn.
* BHARTI AIRTEL: Reported Apr-Jun consolidated net profit of 3.7 bln rupees, down 1.6% on quarter. Revenue from operations was at 219.6 bln rupees, up 0.1% on quarter.
* BINANI CEMENT: The National Company Law Tribunal has admitted an insolvency petition against the company.
* CAN FIN HOMES: Plans to raise 4 bln rupees through bonds maturing in three years and three months, at a coupon of 7.32%.
* CIPLA: Has launched Artesunate Rectocaps/Rectal Artesunate Suppositories, anti-malarial drug with 100 mg strength.
* FUTURE LIFESTYLE FASHIONS: Bennett Coleman & Co has sold 1 mln shares of the company through a bulk deal at 319 rupees a share, as per data on the National Stock Exchange.
* HERO MOTOCORP: Reported Apr-Jun net profit of 9.1 bln rupees, up 3.5% on year. Revenue from operations was at 86.1 bln rupees, up 7.5% on year.
* ICICI PRUDENTIAL LIFE INSURANCE CO: Reported Apr-Jun net profit of 4.05 bln rupees, up 0.2% on year. Total income fell 6.8% on year to 84.56 bln rupees.
* IDEA CELLULAR: The merger of Vodafone India and the company is set to be completed ahead of time in 2018, the companies said.
* IDBI BANK: IDBI Federal Life Insurance, a joint venture between the bank, FEDERAL BANK and Belgian insurer Ageas, is looking to sell its 100% stake, which would potentially lead to a complete exit for all three stakeholders.
* INDRAPRASTHA GAS: Has hiked prices of compressed natural gas and piped natural gas in Delhi by 1.11 rupees per kg and 33 paise per standard cubic mtr, respectively.
* JET AIRWAYS (INDIA): Has signed a code-share agreement with China Eastern Airlines, according to an email received by Jet Privilege members.
* JSW ENERGY: Is planning an asset-light strategy and evaluating options in the solar rooftop and energy storage segments for a stronger foothold in renewable energy.
* L&T TECHNOLOGY SERVICES: Reported Apr-Jun consolidated net profit of 982 mln rupees, up 2.3% on quarter. Revenue from operations was at 8.2 bln rupees, up 1.3% on quarter.
* LAKSHMI VILAS BANK: Board has approved a 50-mln-share qualified institutional placement issue.
* NATIONAL FERTILIZERS: Government will sell 15% stake in the company through an offer for sale on Wednesday.
* PIDILITE INDUSTRIES: Reported Apr-Jun consolidated net profit of 2.3 bln rupees, down 16.1% on year. Revenue from operations was at 16.7 bln rupees, down 1.3% on year.
* PIRAMAL ENTERPRISES: Unit Piramal Finance has sanctioned 4 bln rupees for emerging and mid-market businesses through its newly launched Emerging Corporate Lending vertical.
* PUNJAB NATIONAL BANK: Has raised 15 bln rupees through additional tier-I bonds on a private
placement basis. The bonds were issued at a coupon of 8.98%.
* RELIANCE INDUSTRIES: Wants to make its consumer electronics and mobile phone retailing venture, Reliance Digital, a 400-bln-rupee entity by 2020.
* SHRIRAM TRANSPORT FINANCE CO: Has raised 4 bln rupees through non-convertible debentures on private placement basis.
* STATE BANK OF INDIA: The bank, AXIS BANK and INFOSYS emerged as the best-performing companies in terms of corporate disclosures this year, according to the India Disclosure Index 2017 report by FTI Consulting. The bank, PUNJAB NATIONAL BANK and BANK OF BARODA may be included in the new exchange-traded fund the government is setting up.
* SUZLON ENERGY: The company has won a 50.4-MW wind power project order from Alfanar Energy, the subsidiary of Saudi Arabia-based Alfanar Group.
* TATA STEEL: Is closely following the insolvency resolution process against embattled steelmakers. If theprocess is found to be "transparent", the company will evaluate opportunities to acquire existing manufacturing capacity, said Group Executive Director (finance and corporate) Koushik Chatterjee. Is in talks with a Russia-based company to put up a facility for downstream steel products at its Gopalpur industrial park in Odisha.
* TD POWER SYSTEMS: Has received an order from a European multinational company in India for manufacture and supply certain components of traction motors used in the electric locomotives to be supplied to Indian Railways.
* VEDANTA: Reported Apr-Jun consolidated net profit of 15.3 bln rupees, up 102.3% on year. Revenue from operations was at 193.4 bln rupees, up 26.3% on year.
