Check out the companies which will be in focus during trade today based on recent and latest news developments.
Piramal Enterprises: Piramal Enterprises Ltd. has sold BST-CarGel, its cartilage repair product, to med-tech company Smith & Nephew, for an undisclosed sum, according to a business daily.
Radico Khaitan: HSBC Global Investments Funds reduced stake in liquor firm Radico Khaitan to 5.89%, according to reports. HSBC sold 8,52,192 shares of Radico Khaitan.
Crompton Greaves: Avantha Group Company CG has been awarded a contract from Denmark’s national electricity transmission system operator Energinet.dk to provide power transformers and Gas Insulated Switchgear (GIS) for the Kriegers Flak wind farm project in the Baltic Sea.
IndusInd Bank:The Bank has posted rise of 30% in its net profit of Rs. 581 crore for the quarter ended December 31, 2015 as compared to Rs. 447.2 crore for the quarter ended December 31, 2014. The bank has announced that it has partnered with PayU India to revolutionize Digital Banking & Payments.
Bajaj Auto: Bajaj Auto is undertaking test-runs of its proposed quadricycle 'Qute' in various cities, according to a business daily. The Pune-based company is test-running Qute to ascertain the challenges it may face on Indian roads, such as speed control and load handling, reports the financial newspaper.
Godfrey Phillips: Japan Tobacco (JT), the world’s third-largest listed tobacco company, is in talks to acquire a part of the promoter’s stake in Godfrey Phillips India (GPI), reports a business daily. The KK Modi Group, which owns ~47% in GPI, is also believed to be in talks with long-time partner Philip Morris International for a similar deal, according to the newspaper.
State Bank of India: State Bank of India (SBI) plans to monetise non-core assets and list someof its subsidiaries to meet capital requirements as well as meet Basel-III norms, which will kick in from March 2019.
Oil & Natural Gas Corp: ONGC plans to cut operational costs by at least 10% as oil prices trade at 12-year lows, according to a business daily. ONGC plans to hire a consultant to suggest cost cuts and controlling of operating expenditure, reports the daily.
Reliance Communications: The Department of Telecommunications (DoT) has asked Reliance Communications (RCom) to pay INR 5,384 crore for sharing its 800 MHz spectrum in 16 circles, reports a business daily. The spectrum liberalisation fee would apply to all circles where airwaves were not sold via auctions, adds the financial newspaper.
Coal India: Coal India Ltd. is making its biggest tech overhaul in four decades to check rampant theft as it gears up for the entry of private mining companies in the coal sector, reports a business daily.
IVRCL Ltd: The company has made an allotment of 1,94,375 equity shares of Rs.2/- each, at issue price of Rs. 24.39/- per share, on January 12, 2016 to SREI EQUIPMENT FINANCE LIMITED (CDR Lender) who have signed the Master Restructuring Agreement. This allotment is towards conversion of FITL into equity.
JSW Steel: Crude steel production dropped 15 per cent to 2.70 million tonne (MT) in October-December this fiscal due to planned shutdown of blast furnaces for capacity expansion. JSW Group had recorded 3.17 MT crude steel production in the third quarter of 2014-15.
Federal Bank: The bank posted a 38.5 per cent drop in net profit at Rs. 162.7 crore for the third quarter ended December due to a rise in bad loans.The total income of the lender also came down to Rs. 2,086 crore during the quarter, from Rs. 2,090 crore in the year-ago period.
DCB Bank: The bank reported 3 per cent decline in standalone net profit at Rs 41.20 crore for the third quarter ended December 31, 2015-16.Total income of the bank increased to Rs 477 crore during the third quarter of current fiscal, from Rs 404 crore in the corresponding quarter last fiscal.
Omkar Speciality Chemicals Ltd: The company has received environment clearance for its Manufacturing Unit - V located in Ratnagiri, Maharashtra.
Tata Power: Tata Power has raised Rs. 500 crore through unsecured redeemable, taxable non-convertible debentures (NCDs) on a private placement basis.
Jet Airways: The company announced special inaugural fares for flights between India and Amsterdam, the airline's new European gateway, commemorating the commencement of its maiden flights to Amsterdam on March 27, 2016.
Amara Raja: Amara Raja Group has committed an investment of Rs.50 bn in Andhra Pradesh across business verticals such as electronics, auto, IT, energy and infrastructure.
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