Tata steel to pause Port Talbot sale; stock tumbles 4%

However, it will proceed with the sale of its specialty steel making business, which employs 2,000 employees in Hartlepool, Rotherham and Stocksbridge.

Tata Steel is expected to announce on Friday that it will pause the sale of most of its UK business, including Port Talbot, according to a BBC report.

However, it will proceed with the sale of its specialty steel making business, which employs 2,000 employees in Hartlepool, Rotherham and Stocksbridge.

Tata Steel Ltd is currently trading at Rs. 319.7, down by Rs. 14.4 or 4.31% from its previous closing of Rs. 334.1 on the BSE.

The scrip opened at Rs. 334.5 and has touched a high and low of Rs. 337.25 and Rs. 316.5 respectively. So far 7945623(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 32448.31 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 364.15 on 21-Apr-2016 and a 52 week low of Rs. 200 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 337.1 and Rs. 312.2 respectively.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 39.88 % and 28.77 % respectively.

The stock is currently trading below its 50 DMA.

ITD Cementation surges 4%; JV bags order worth Rs.2830 crore

The company announced that its joint venture (JV) has bagged orders worth of Rs 2,830 crore for phase-III of Mumbai metro project.

Shares of ITD Cementation India was higher by 4% at Rs.149.The company announced that its joint venture (JV) has bagged orders worth of Rs. 2830 crore for phase-III of Mumbai metro project.

ITD Cementation India Ltd is currently trading at Rs. 149.75, up by Rs. 6.1 or 4.25% from its previous closing of Rs. 143.65 on the BSE.

The scrip opened at Rs. 147.1 and has touched a high and low of Rs. 160.45 and Rs. 147.1 respectively. So far 1242806(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2228.84 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 149.5 on 05-Jul-2016 and a 52 week low of Rs. 61 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 149.5 and Rs. 128 respectively.

The promoters holding in the company stood at 51.63 % while Institutions and Non-Institutions held 27.85 % and 20.52 % respectively.

The stock is currently trading above its 50 DMA.

Axis Bank clocks 1% gains on the bourses

Cabinet Committee on Economic Affairs allowed Axis Bank to raise foreign shareholding to 74% from the current 62%, which will bring in investment of around Rs.130 billion.

Axis Bank gained 1% to Rs.545 on BSE. Cabinet Committee on Economic Affairs allowed Axis Bank to raise foreign shareholding to 74% from the current 62%, which will bring in investment of around Rs.130 billion.

The scrip opened at Rs. 539.7 and has touched a high and low of Rs. 544.5 and Rs. 536 respectively. So far 750233(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 128817.48 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 613.4 on 16-Jul-2015 and a 52 week low of Rs. 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 546.9 and Rs. 514.15 respectively.

The promoters holding in the company stood at 29.73 % while Institutions and Non-Institutions held 56.64 % and 10.27 % respectively.

Jaypee Infratech, JP Associates surges 6%

The Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, in continuation of its agreement signed on the 31st of March 2016, approved a Scheme of Arrangement between the Company, Jaiprakash Associates Limited, Jaypee Cement Corporation Limited and their respective shareholders and creditors (“Scheme”) for acquisition of cement plants for a total capacity of 21.2 mtpa at an enterprise value of Rs 16,189 crs.

Jaypee Group stocks are higher for the second day.

The Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, in continuation of its agreement signed on the 31st of March 2016, approved a Scheme of Arrangement between the Company, Jaiprakash Associates Limited, Jaypee Cement Corporation Limited and their respective shareholders and creditors (“Scheme”) for acquisition of cement plants for a total capacity of 21.2 mtpa at an enterprise value of Rs 16,189 crs.

The Proposed Transaction is essentially a “geographic market expansion” which will lead to UltraTech’s entry into growing markets of India, such as the Satna cluster [in Uttar Pradesh (East) and Madhya Pradesh (East)], Himachal Pradesh, Uttarakhand and coastal Andhra Pradesh. The operations will be strengthened by the consequent technological upgradation and enhancement in capacity utilization on a year-on-year basis, creating synergies in manufacturing, distribution and logistics leading to economies of scale and creation of efficiencies by reducing lead time to markets, enhancing competitiveness and thereby benefiting consumers; and creating value for its shareholders by acquiring ready-to-use assets.

Jaypee Infratech Ltd is currently trading at Rs. 11.3, up by Rs. 0.7 or 6.6% from its previous closing of Rs. 10.6 on the BSE.

The scrip opened at Rs. 10.7 and has touched a high and low of Rs. 11.49 and Rs. 10.7 respectively. So far 2611288(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1472.27 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.35 on 10-Jul-2015 and a 52 week low of Rs. 5.34 on 06-Jun-2016. Last one week high and low of the scrip stood at Rs. 10.98 and Rs. 8.5 respectively.

The promoters holding in the company stood at 71.64 % while Institutions and Non-Institutions held 14.62 % and 13.75 % respectively.

The stock is currently trading above its 200 DMA.

Jaiprakash Power Ventures Ltd is currently trading at Rs. 6.01, up by Rs. 0.37 or 6.56% from its previous closing of Rs. 5.64 on the BSE.

The scrip opened at Rs. 5.75 and has touched a high and low of Rs. 6.14 and Rs. 5.75 respectively. So far 2115196(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1657.03 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 8.42 on 07-Aug-2015 and a 52 week low of Rs. 3.65 on 02-Jun-2016. Last one week high and low of the scrip stood at Rs. 6.05 and Rs. 4.65 respectively.

The promoters holding in the company stood at 63.6 % while Institutions and Non-Institutions held 9.34 % and 27.06 % respectively.

The stock is currently trading above its 200 DMA.

Jaiprakash Associates Ltd is currently trading at Rs. 12.28, up by Rs. 0.66 or 5.68% from its previous closing of Rs. 11.62 on the BSE.

The scrip opened at Rs. 11.9 and has touched a high and low of Rs. 12.48 and Rs. 11.8 respectively. So far 67265173(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2826.52 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 14.9 on 16-Oct-2015 and a 52 week low of Rs. 5.3 on 02-Jun-2016. Last one week high and low of the scrip stood at Rs. 12.5 and Rs. 7.5 respectively.

The promoters holding in the company stood at 39.38 % while Institutions and Non-Institutions held 27.02 % and 33.59 % respectively.

The stock is currently trading above its 200 DMA.

Top 23 stocks in focus today: Lupin, NTPC, Axis Bank

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Lupin, Dr.Reddy’s: Lupin and Dr.Reddy’s are recalling over 1.7 lakh bottles of two different tablets, used in the treatment of blood pressure and acidity, in the US due to deviations from manufacturing norms, says report.

NTPC: NTPC said its offer for sale of 2.06 crore equity shares for its employees was subscribed 85% and government is expected to net around Rs.202 crore from the share sale.

Axis Bank: Cabinet Committee on Economic Affairs allowed Axis Bank to raise foreign shareholding to 74% from the current 62%, which will bring in investment of around Rs.130 billion.

Claris Lifesciences: Claris Lifesciences has received ANDA approval for Tobramycin Injection.

Poly Medicure Ltd: The company is planning to invest Rs.600 million in a new green field project at IMT Faridabad in Haryana.

Alembic Pharmaceuticals: The pharma company has received tentative approval from the US health regulator for Febuxostat tablets used for treatment of hyperuricemia in patients of gout.

ICICI Bank: The bank will seek shareholder approval to raise up to Rs.25,000 crore by selling bonds and debentures.

Gujarat Industries Power Company: Gujarat Industries Power Company has informed BSE that Solar Energy Corporation of India Ltd. (SECI) has issued two Letters of Intent (LOIs), both dated July 04, 2016, to GIPCL for 2 x 40 MW Solar Power Project in Gujarat Solar Park, Village Charanka under National Solar Mission Phase-II, Batch IV.
 
Hindustan Construction Company Ltd: HCC and MMS of Russia formed a joint venture to execute a contract worth Rs.25.23 billion for the Mumbai Metro Rail Corporation Limited (MMRCL). 

Larsen & Toubro: Larsen & Toubro  along with its partner, STEC of China has bagged an order worth Rs.52.73 billion from Mumbai Metro Rail Corporation (MMRC).

Petronet LNG Ltd: The company is planning to set up a Rs.50 billion LNG import terminal at Kutubdia islands in Bangladesh countries.

JSW Steel: India Ratings and Research said it has downgraded JSW Steel long-term issuer rating besides downgrading company's Rs 86.35 billion non-convertible debentures (NCDs). 

Vakrangee: Vakrangee has entered into Corporate Agency tie-up with Religare Health Insurance Company (Religare), to distribute health Insurance product through VakrangeeBSE 2.10 % distribution network, as per media report. 

Insecticides (India): The company has entered into an agreement with Momentive Performance Materials Inc., USA for getting the product 'AGROSPREC MAX' on an exclusive basis for the territory of India. 

JK Paper Ltd: The company said it has made a non-binding offer to acquire two units of Avantha Group firm BILT Graphic Paper Products Ltd (BGPPL).

Skipper Ltd: The company has announced its further international business penetration by bagging new orders in the countries of Kenya, Cameroon, Congo, Ghana & Malaysia as well as in the domestic market. These orders are for supply of Transmission & Sub-station Towers, Distribution Poles and Steel Angles and are valued at approx. 100 cr. The Company has further received approval from Power Grid Corporation of India Limited (PGCIL) for its Poles division.

Fiem Industries: The company have received 'Letter of Intent' for Design, Manufacture and Supply of Self Ballasted 9W LED Bulbs with 3 years Warranty from Energy Efficiency Services Limited (EESL).The Quantity is 22,14,000 LED Bulbs and the order value is Rs. 12,31,68,600/- The supply period is one month.

Tata Power Company Ltd: The company has announced that at its meeting scheduled on July 11, 2016, the Board will  consider issuing Non-Convertible Debentures on private placement basis, within the limits approved by the shareholders at the Annual General Meeting of the Company held on August 05, 2015.

3i Infotech Ltd: The FCCB Committee of the Board at its meeting held on July 05, 2016 has approved issuance of foreign currency convertible bonds of up to US$ 52,000,000 ("New Bonds") to the existing bondholders of the Company, in exchange for the existing foreign currency convertible bonds.

Power Finance Corporation Ltd: Warora-Kurnool Transmission Limited, a wholly owned subsidiary  established for development of Transmission System for "Additional inter-Regional AC link for import into Southern Region i.e. Warora - Warangal and Chilakaluripeta - Hyderabad - KurnooI 765 kV link" Common Transmission System has since been Transferred to Essel Infraprojects Limited (the successful bidder) on July 06, 2016.

Kajaria Ceramics Ltd: The company has announced that a meeting of the Board of Directors of the Company, to consider and approve the Scheme of Amalgamation of Kajaria Securities Private Limited ("KSPL") with Kajaria Ceramics Limited ("KCL") for realignment of current promoters’ shareholding in the Company.

Southern Online Bio Technologies Ltd: The company has announced that the Company has received letter of intent from Hindustan Petroleum Corporation Limited for the supply of 1500 Kilo Liters of Bio Diesel from July to September 2016 to its Secunderabad location in Telangana State.