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IDBI BANK

Mint Reports:

Steps up sale of non core assets

Seeks to offload 5% in CCIL to strengthen its weak capital base

Aiming to garner Rs 5,000 Cr through such sales

In June, the Bank sold 2.5% stake in CCIL

 

ABG SHIPYARD

Agrees to go ahead with insolvency proceedings

JAYPEE INFRA

Business Standard Reports:

NCLT gave Jaypee Infratech time till 4 Aug

To respond to a petition of insolvency filed by IDBI Bank

Company owes Rs 4000 Cr to IDBI, total dues to all banks are Rs 9,365 Cr

COAL INDIA

Business Standard Reports:

NCLT has stayed rulings by the Competition Commission Of India

Coal India had abused it's dominant position

In framing fuel supply agreements with Gujarat Heavy Chemicals and MP Power Generating Company

JSW CEMENT

Plans to double output in 3 years

Indigo

Economic Times Reports:

Promoters plan stake sale to meet norms

Indigo is planning an institutional share sale

The sale aims at cutting its owners stake to achieve min public shareholding of 25%

The company must sell 10.85% stake worth Rs 4900 Cr

BAJAJ AUTO

Economic Times Reports: May join KTM in race to buy Ducati

Bajaj owns 48% stake in KTM

KTM is said to be closing on the European brand

ONGC- HPCL UNION

FM to head panel for ‘Quick Decisions’ on ONGC- HPCL Union

Nitin Gadkari, Dharmendra Pradhan to assist Jaitley in taking calls on timing and pricing of deal

ICICI BANK

Financial Express Reports:

Opposes Ramasarup insolvency petition at NCLT

First time a bank opposes a defaulters initiation to insolvency

ICICI Bank exposure stands at Rs 70 Cr

V- MART

GMO buys 2.9 Lk shares of V-Mart Retail at Rs 1,143 Per Share

Fidelity sells 4.4 Lk shares

 

BYKE HOSPITALITY

Wasatch buys 6 Lk shares of Byke Hospitality at Rs 190 Per Share

Wasatch already owns over 17 Lk shares in the company

GRAPHITE INDIA

Morgan Stanley buys 12 Lk shares of Graphite India at Rs 196.4 Per Share

FOOTWEAR STOCKS IN FOCUS

Economic Times Reports:

Rs 2600 Cr incentive package for leather sector likely soon

Incentive package to boost exports and job creation

Package has already been approved by the expenditure finance committee

RALLIS INDIA LTD

Monetises investment in Advinus for Rs 17.3 Cr

WELSPUN CORP

Bags order for supply of 1 Lk MT Pipes

Current order book crosses 699K MTs Pipes

Order book worth Rs 4200 Cr

BHARTI AIRTEL

Allegations made by RJio regarding Airtel Earning Excess Revenue is false

Industry cost for bill & keep regime with Zero Mobile Terminated Charge (MTC) will be Rs 15-20,000 Cr

Zero MTC will allow Jio to price services in a predatory manner

Jio wants Zero MTC for transferring cost to Airtel and other operators

TRAI's MTC of 14 Paise is below current cost of 35 Paise per minute

Airtel looses Rs 550 Cr Per Quarter due to under pricing of MTC

BALAJI TELEFILMS

To issue 2.52 Cr shares to RIL for Rs 413 Cr at Rs 164/Share

Deal values Balaji Tele at Rs 1600 cr

RIL picks up 24.9% stake in the Co

JP ASSOCIATES

Rakesh Jhunjhunwala Picks Up 1.03% Stake In Jaiprakash Associates in Q1

Jaiprakash Associates up 178% in 2017

STERLITE TECH/ HFCL/ AKSH OPTIFIBRE

Telecom Officials: Expect to award work for BharatNet Phase II by October-End

State-Run, Private Players expected to bid for BharatNet Phase II

JET AIRWAYS

Sources To Reuters: To cut pay of junior pilots by 30-50% from Aug 1

Jet has asked junior pilots to take 30% cut in their salaries or leave the organization

Jet is facing pressure on profitability

Pilots will be offered 10 days leave and will be paid for only 20 days in a month

MAHINDRA CIE: Q1FY18 REVIEW (YOY)

Sales up 12.2% at Rs.503 Cr Vs 448 Cr

EBITDA up 4% at Rs46.6 Cr Vs Rs 44.7 Cr

EBITDA Margins down 70bps at 9.2% Vs 9.9%

Net Profit up by 54% at Rs 17 Cr Vs Rs 11 Cr

ZENSAR TECH: CONSOL REVIEW Q1FY18

Sales up 5% at 756.91 Cr Vs Rs 720.51 Cr QoQ

EBITDA up 166% at Rs 95.04 Cr Vs Rs 35.71 Cr QoQ

EBITDA margins at 12.5% Vs 5% QoQ

Net Profit up 348% at Rs 48.08 Cr Vs Rs 10.73 Cr QoQ

RBL BANK: Q1FY18 REVIEW(YOY)

Net Profit up 44.87% at Rs.141 Cr Vs Rs.97.34 Cr

NII up 54.66% at Rs.378 Cr Vs Rs.244 Cr

GNPA Ratio at 1.46% vs 1.2% QoQ

NNPA Ratio at 0.81% Vs 0.64 % QoQ

CUPID LTD: Q1FY18 RESULTS REVIEW (YOY)

Revenue up by 21% at Rs 19 Cr Vs Rs 16 Cr

EBIDTA up by 13% at Rs. 6.58 Cr Vs Rs.6.41 Cr

EBIDTA Margin down by 700 bps at 33.5% Vs 40%

Net Profit up by 12.86% at Rs 4.3 Cr Vs Rs 3.8 Cr

  • SENSEX

    32,028.89 124.49   (0.39 %)
  • NIFTY

    9,915.25 41.95   (0.42 %)

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Indian Bank: Stellar Q1

News In Brief

 

    Jay Park signs with Jay Z's label

    Los Angeles: Singer Jay Park has officially signed with rapper Jay Z's label Roc Nation.  Park took to Instagram on July 21 to announce the news and shared a photograph of him sitting on a leather sofa, reports aceshowbiz.com.  The caption read: "It's Official Roc Nation. This is a win for the town.

    This is a win for Korea. This is a win for Asian Americans. This is a win for the overlooked and underappreciated. This is a win for genuine people who look out for their peoples.   "This is a win for hard work and dedication.

    This is a win for honesty and authenticity. Thank you for the acknowledgement and recognition.

    Just getting started. Roc Fam, Roc Nation."   A statement from Roc Nation read: "We are excited to announce Jay Park has officially signed with Roc Nation! Welcome to the Roc Fam!" 

    (IANS)

    Stoke forward Arnautovic moves to West Ham

    London: Stoke City forward Marko Arnautovic has completed his move to fellow English football club West Ham United after signing a five-year deal.  "West Ham United are delighted to announce the club-record signing of Austria attacker Marko Arnautovic," the club confirmed in a statement on Saturday.

    The 28-year-old made 125 appearances for Stoke City since 2013 scoring 22 goals.  The Austrian is the third signing for the London club this summer, after the side signed England goalkeeper Joe Hart and Argentina full-back Pablo Zabaleta earlier.  

    Commenting on the move, the Austrian said: "It feels special to me to be a West Ham player, everyone knows that West Ham is a big Club, with big history and I'm happy to be a part of it now. I can't wait to get started."  Arnautovic has made 62 appearances for his country since 2008 scoring 15 goals.

    (IANS)

    BJP ex-MLA meets Kejriwal over colony's condition

    New Delhi: Former BJP legislator Vijay Jolly on Sunday met Delhi Chief Minister Arvind Kejriwal and raised the issue of poor living conditions in the city's largest unauthorised colony Sangam Vihar.

    He said he met the Chief Minister at his Civil Lines residence here and submitted a memorandum on severe shortage of potable water and lack of sewerage in the colony, apart from a list of demands to improve living conditions of the colony residents.  

    He said he hoped that the government will take action to redress the grievances of the colony residents.

    (IANS)

    Three overground militant workers arrested in Srinagar

    Srinagar: Police on Sunday arrested three overground workers (OWGs) of militants in summer capital Srinagar and recovered an AK-47 rifle from their possession.

    Police sources said here on Sunday that three OWGs of militants were arrested in Tengpora (Batmaloo) area of Srinagar city.  

    "They were arrested while moving in a car. One AK-47 rifle has been recovered from the possession of these OWGs," sources said.

     OWGs are described by the security forces as facilitators of militants who arrange hideouts, ferry weapons and keep an eye on movement of the security forces to alert militants during crackdowns and search operations.

    (IANS)

    China shuts down 3,918 illegal websites

    Beijing: A total of 3,918 illegal websites were shut down by China's internet watchdogs from April to June, the Cyberspace Administration of China (CAC) has said.

    The websites included those that published content that jeopardized national security, and those that spread violence, vulgarity or unfounded rumours, according to the CAC statement on Saturday, Xinhua news agency reported.

    Up to 316 cases related to illegal websites were handed to judicial organs in the same period, the CAC said.  More than 810,000 illicit cyber accounts were also closed in the second quarter of the year, the statement read.

    Moreover, 443 website owners were summoned by cyber watchdogs for law-breaking while 172 received warnings, as part of cyber law enforcement that has been highlighted over the months, according to the statement. 

    (IANS)

    Army foils infiltration bid on LoC; militant killed

    Srinagar: A militant was killed on Sunday on the Line of Control (LoC) in Machil sector in Jammu and Kashmir where the army foiled an infiltration bid.  

    "One terrorist has been killed in Machil sector of Kupwara district of the LoC today where the army has foiled an infiltration bid." Defence Ministry spokesman, Colonel Rajesh Kalia said.  

    "The operation against the intruding terrorists is still going on in the area," he said.

    (IANS)

     

    CRPF troopers thrash company commander after a colleague dies

    Srinagar: Angry CRPF troopers in Jammu and Kashmir thrashed their company commander on Sunday after a trooper died "as he was denied permission to visit hospital for treatment".  Police sources said a Central Reserve Police Force (CRPF) trooper died in Wanpoh area of Anantnag district.

     "Angry colleagues of the deceased trooper trashed their company commander, alleging that the sick trooper had been denied permission by the officer to visit a nearby hospital for treatment," a police officer said.  There was no confirmation or denial of the incident from the CRPF.

    (IANS)

    Saudi Arabia limits Qatari pilgrims to 2 airports

    Riyadh: Saudi Arabia announced that Qatari pilgrims will be allowed access to Saudi Arabia via only two designated airports, media reports said on Sunday.  

    Saudi Arabia's Haj and Umra Ministry confirmed that pilgrims and Umra performers from Qatar should arrive only at King Abdulaziz Airport in Jeddah and Prince Mohammed bin Abdulaziz Airport in Medina, Xinhua news agency reported, quoting Al Jazira local online newspaper.  Saudi Arabia last week said Qatari pilgrims can come via any but the Qatari Airline.  

    In June, after announcing that it will cut ties with Qatar, Saudi Arabia, however, denied that Qatari nationals will be refused entry into Muslim's holy city of Mecca.  Saudi Arabia, together with Bahrain, the United Arab Emirates and Egypt, has snapped ties with Qatar, accusing it of supporting terrorists and interfering in the internal affairs of other countries. 

    (IANS)

    NEET question paper to be same for all languages: Javadekar

    Kolkata: Union minister Prakash Javadekar has said question papers in vernacular languages for the all- India entrance examination for medical colleges, NEET, will be mere translation of the question papers in English.

    The Human Resource Development minister was replying to a question about a recent complaint by West Bengal Education Minister Partha Chatterjee that students appearing for medical entrance examination in vernacular languages this year had faced tougher questions than the ones set in English and Hindi.

    "The vernacular question papers for the National Eligibility-cum-Entrance Test (NEET) all-India entrance examination for medical colleges will just be translation of the question paper in English," he told reporters here yesterday. Asked about 'one nation one test' policy for engineering courses, the Union minister said, "We are yet to take a call on this issue. It is in discussion stage."

    (PTI)

    China's top steel province to meet 2017 coal capacity cuts by Sept

    Beijing: China's Hebei province will likely meet its annual target for reducing coal capacity by the end of September, official newspaper Hebei Daily reported on Sunday, citing information from the provincial planning body.

    Hebei, China's top steel producing province, expects to cut 12.38 million tonnes of coal capacity this year, well above its initial target of 7.42 million tonnes, the paper said.

    China plans to cut 150 million tonnes of coal capacity in 2017 as part of efforts to tackle choking pollution. The National Development and Reform Commission said last week the country had cut coal capacity by 111 million tonnes by end-June.

    (Reuters) 

    Kuwaiti oil minister says further production cuts are possible

    Russia: Kuwait's oil minister Essam al-Marzouq said on Saturday that compliance with oil production cuts by OPEC and non-OPEC countries is good and that deeper cuts are possible.

    Asked about the possibility of further cuts to support the price of crude, the minister said: "Everything is open."

    Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC producers will meet in the Russian city of St Petersburg on Monday to discuss the pact on cuts, which was reached earlier this year.

    Marzouq also told reporters that a technical committee of OPEC and non-OPEC countries had heard and was happy with reports from Libya and Nigeria, and that discussions would continue on Monday.

    (Reuters)

    Three overground militant workers arrested in Srinagar

    Srinagar: Police on Sunday arrested three overground workers (OWGs) of militants in summer capital Srinagar and recovered an AK-47 rifle from their possession.  Police sources said here on Sunday that three OWGs of militants were arrested in Tengpora (Batmaloo) area of Srinagar city.

    "They were arrested while moving in a car. One AK-47 rifle has been recovered from the possession of these OWGs," sources said.  OWGs are described by the security forces as facilitators of militants who arrange hideouts, ferry weapons and keep an eye on movement of the security forces to alert militants during crackdowns and search operations.

    (IANS)

    Modi remembers Bal Gangadhar Tilak, Chandra Shekhar Azad

    New Delhi: Prime Minister Narendra Modi on Sunday paid tributes to freedom fighters Bal Gangadhar Tilak and Chandra Shekhar Azad on their birth anniversaries.  

    "Remembering Bal Gangadhar Tilak, Chandra Shekhar Azad and their rich contribution to India's freedom struggle, on their birth anniversary," Modi tweeted.  

    Tilak was born in Ratnagiri in Maharashtra on July 23, 1856 while Azad was born on July 23, 1906 in Bhavra village, in the present-day Alirajpur district of Madhya Pradesh.

    (IANS)

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