ITC gains 2% post Q1 results

The Company posted a net profit of Rs. 23846.70 million for the quarter ended June 30, 2016 as compared to Rs. 21660.90 million for the quarter ended June 30, 2015.

ITC Ltd stock was up by 2% at Rs.255.The Company posted a net profit of Rs. 23846.70 million for the quarter ended June 30, 2016 as compared to Rs. 21660.90 million for the quarter ended June 30, 2015.

 Total Income has increased from Rs. 125891.40 million for the quarter ended June 30, 2015 to Rs. 136735.80 million for the quarter ended June 30, 2016.

The scrip opened at Rs. 251.9 and has touched a high and low of Rs. 256 and Rs. 251.9 respectively. So far 177947(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 302784.48 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 258.85 on 01-Jul-2016 and a 52 week low of Rs. 178.67 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 254 and Rs. 245.8 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.62 % and 44.16 % respectively.

The stock is currently trading above its 50 DMA.

ONGC Videsh arm raises $1 bn

The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026.

ONGC Videsh Vankorneft, a subsidiary of ONGC Videsh Ltd has raised $1 billion through debt instruments issued in global markets.

The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026. The notes are guaranteed by ONGC and have been assigned a Baa2 rating by Moody’s and BBB- by S&P.

The transaction is the largest achieved by an Indian insurer in 2016 and the First Dual tranche insurance from India in 2016,” the company said in a statement.

Citigroup and Standard Chartered Bank acted as Joint Global Coordinators and Citigroup, Standard Chartered Bank, DBS Bank Ltd, Mizuho Securities, MUFG and SMBC Nikko acted as Joint Bookrunners and Joint Lead Managers for this issuance.

Top 23 stocks in focus: ITC, Axis Bank, Biocon

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

ITC Ltd: The company posted a net profit of Rs.23846.70 million for the quarter ended June 30, 2016 as compared to Rs.21660.90 million for the quarter ended June 30, 2015.

Axis Bank: Axis Bank will announce its Q1 numbers today.

Kalpataru Power Transmission Ltd: The company has sought shareholders' approval to raise Rs.300 crore through issuance of non-convertible redeemable debentures.

Biocon Ltd: The pharma company posted a net profit after taxes, minority interest and share of profit of associates of Rs.1666 mn for the quarter ended June 30, 2016 as compared to Rs.1239 mn for the quarter ended June 30, 2015.

Cairn India: Cairn India Ltd posted a net profit of Rs.3595.50 million for the quarter ended June 30, 2016 as compared to Rs.5012.70 million for the quarter ended June 30, 2015.

NHPC, BHEL: NHPC has signed a Memorandum of Understanding with Bharat Heavy Electricals Limited for undertaking of Hydro Power Projects in overseas markets. As per the MOU NHPC and BHEL will look after the civil and electro mechanical package respectively.

Hindalco Industries: Hindalco Industries posted a net profit of Rs.448.10 million for the year ended March 31, 2016 where as the same was at Rs.8542.10 million for the year ended March 31, 2015.

Raymond: The company has posted a net loss of Rs.166.10 million for the quarter ended June 30, 2016 as compared to net loss of Rs.144.70 million for the quarter ended June 30, 2015.

Welspun Corp: The company entered into a definitive agreement with an American midstream major to supply over 274 kilometers (@ 184K MTs) heavy wall, large diameter, 18 meters length, Longitudinal Saw line-pipe for a prestigious Gas Project in Americas.

Kotak Mahindra Bank: The company posted a profit after tax of Rs.10671 million for the quarter ended June 30, 2016 as compared to Rs.5165.70 million for the quarter ended June 30, 2015.

Gammon India: Gammon India reported consolidated net loss of Rs.502.51 crore for the 18-month period ended 31 March.

Suven Life: The company said in a notice to BSE that its Pashamylaram’s Unit Successfully completes US FDA Inspection.

JSW Energy: The company posted a net profit after taxes, minority interest and share of profit of Associates of Rs.3665.30 mn for the quarter ended June 30, 2016 whereas the same was at Rs.3088.50 million for the quarter ended June 30, 2015.

Wockhardt: The company announced that its three plants received FDA observation.

Kirloskar Brothers: Kirloskar Brothers Ltd reported its net loss at Rs.3.3 crore in the quarter ended June 2016 as against net profit of Rs.7.7 crore during the previous quarter ended June 2015.

UPL: High Court of Gujarat at Ahmedabad vide its order dated June 23, 2016 has sanctioned the scheme of amalgamation of Advanta and UPL.

Adf Foods Ltd: The Board of Directors of the Company is convened to be held on Wednesday, July 27, 2016 at Mumbai will consider declaration of interim dividend or buy back of equity shares of the Company or a combination thereof.

Syngene International: Syngene International reported 28.32% rise in standalone net profit to Rs.59.8 crore for the quarter ended on June 30, 2016.

Power Grid: Power Grid Corporation has approved investment of Rs.2,731 crore in various projects, including setting up of a transmission system for solar park at Bhadla in Rajasthan for Rs.1,429.38 crore.

Piramal Enterprises: The company said its board has approved raising up to Rs.1,000 crore through issue of non-convertible debentures.

ONGC: ONGC Videsh Ltd has raised $1 bn through a US dollar bonds issue to finance its acquisition of 15 per cent stake in Russia's second biggest oil field Vankor, says report.

Oriental Veneer Products: The company received orders worth Rs.12.9 crore from Indian Railways.