Stocks in news: Axis Bank, Bharti, Orchid Chem, JK Tyre

Here are stocks that are in news today:

MSCI August re-balancing
-Mahindra & Mahindra Financial Services (India) added to MSCI Global Standard Indices
-Axis Bank removed
-Wipro's weightage increased
-ICICI Bank and Godrej Consumer Products' weightage decreased

Singapore Telecom: Reuters
-To buy around 3.62 percent of Bharti Airtel shares for about Singapore dollar 383.6 million
-Effective interest in Bharti Airtel to be 32.34 percent from 30.76 percent

Tata Motors (stock was up 10 percent on Wednesday)
-July global wholesales at 87,566 vs 84,458 units (MoM)
-July global wholesales for commercial vehicle at 40,882 vs 41,577 units (MoM)
-July global wholesales for passenger vehicle at 46,684 vs 42,881 units (MoM)
-July global wholesales for JLR at 35,162 vs 30,536 units (MoM)

Orange County in California, US, has filed a lawsuit against TCS, India’s largest IT company for delays and cost over-runs in a software project.
TCS to CNBC-TV18: on California Matter
-Do not discuss pending legal matters as per policy
-Stand by company's quality of work, commitment to customer success

Other stocks and sectors that are in news today:
-Mobile call rates set to rise by 10 paise per minute (Around 15 percent increase): ET
-Holcim reported results below street expectation; cuts profit guidance
-Educomp: Anil Sharma, Company Secretary & Compliance officer of the company resigns
-Bosch proposed to suspend the manufacturing operations at Nashik Plant : 16-17 August, Jaipur Plant : 19th, 21st to 23rd August

Orchid Chemicals April-June quarter (YoY)
-Company extends its financial year again by 6 months to September 30, 2013. Earlier it was extended to June 30, 2013
-Revenues down 28 percent to Rs 257 crore versus Rs 357 crore
-EBITDA Rs 43 crore versus Rs 56 crore
-OPM at 17 percent versus 15.6 percent
-Net loss Rs 54.5 crore versus Rs 51 crore
-Interest costs up 33 percent Y-o-Y to Rs 95.3 crore versus Rs 71.3 crore
-Interest costs up 11 percent Q-o-Q to Rs 95 crore versus Rs 85.7 crore
-FY13 interest costs Rs 399.5 crore
-Company records an exceptional gain of Rs 39 crore during the quarter despite that loss is so high

Pipavav Defence Q1 YoY
-Net profit at Rs 7.3 crore Versus Rs 2 crore
-Total income from operations at Rs 702.7 crore Versus Rs 572.4 crore

Gitanjali Gems Consolidated Q1FY14
-PAT at Rs 35 crore Versus Rs 149 crore
-Total income at Rs 3919 crore Versus Rs 3385 crore
-Total expenses increased to Rs 3778 crore Versus Rs 3172 crore
-Interest cost at Rs 118 crore Versus Rs 92 crore
 
United Breweries Q1FY14
-Net profit at Rs 121 crore Versus Rs 98.6 crore
-Total income at Rs 1363 crore Versus Rs 1217 crore 
 
MMTC Q1FY14
-Net profit at Rs 5 crore Versus Rs 12 crore
-Total Income at Rs 8864 crore Versus Rs 5408 crore

Bhushan Steel (Poor Results as was the case with most Ferrous companies) Q1FY14 versus Q1FY13 (YoY)
-Net sales down 12 percent at Rs 2490.9 crore versus Rs 2841.3 crore
-EBITDA down 14 percent at Rs 737.4 crore versus Rs 862.3 crore
-EBITDA at 29.6 percent versus 30.3 percent
-PAT down 63 percent at Rs 76.3 crore versus Rs 205.97 crore
-Finance costs up 6.6 percent at Rs 402.6 crore versus Rs 377.8 crore (up 20.2 percent QoQ)

Kingfisher Airlines Q1
-Net loss at Rs 1,157 crore versus loss of Rs 651 crore (YoY)
-KFA says have recorded no income from operations in Q1
-Other income at Rs 46 lakh versus Rs 72.4 crore (YoY)

Gujarat Fluorochemicals Q1
-Consolidated net profit at Rs 55.4 crore versus Rs 177.5 crore (YoY)
-Consolidated net sales at Rs 683 crore versus Rs 798 crore (YoY)
-Consolidated forex loss at Rs 6.3 crore versus loss of Rs 101 crore (YoY)

Shree Renuka Q1
-Net loss at Rs 63.6 crore versus profit of Rs 13.3 crore (YoY)
-Net sales at Rs 1,937 crore versus Rs 1,484 crore (YoY)

NALCO Q1
-Net profit at Rs 159.7 crore Versus Rs 223 crore (YoY)
-Net sales at Rs 1,536 crore versus Rs 1,718 crore (YoY)

Jain Irrigation Q1
-Consolidated net loss at Rs 60.3 crore versus loss of Rs 48.7 crore (YoY)
-Consolidated net sales at Rs 1,386.3 crore versus Rs 1,243 crore (YoY)

JK Tyre Q1 
-Net profit at Rs 55.3 crore versus Rs 16.4 crore (YoY)
-Net sales at Rs 1,866 crore versus Rs 1,806 crore (YoY)

Parsvnath Developers Q1:
-Consolidated net profit at Rs 15.6 crore Versus Rs 20.1 crore (YoY)
-Consolidated total income from operations Rs 188.8 crore Versus Rs 163.4 crore (YoY)

Gujarat Apollo Q1:
-Net profit at Rs 129.4 crore Versus Rs 1.7 crore (YoY)
-Net sales at Rs 12.1 crore Versus Rs 31.1 crore (YoY)

Mercator Q1:
-Net profit at Rs 10 crore versus Rs 17 crore (YoY)
-Net income at Rs 720.2 crore versus Rs 1095.2 crore (YoY)

United Breweries Holdings Q1:
-Net profit at Rs 301.4 crore Versus Rs 1.3 crore (YoY)
-Net sales at Rs 80.9 crore Versus Rs 98.6 crore (YoY)
-Exceptional income due to stake sale in United Spirits

Bharati Shipyard Q1:
-Net loss Rs 144 crore Versus loss of Rs 816.2 crore (YoY)
-Net sales Rs 140.8 crore Versus Rs 170.6 crore (YoY)

Aanjaneya Life Q1
-Net profit at Rs 3.2 crore versus Rs 19 crore (YoY)
-Net sales at Rs 117.7 crore versus Rs 175 crore (YoY)

RBI details steps to cut forex outflows by resident Indians
-Indian company can invest overseas up to 100 percent of networth versus 400 percent
-Individual forex outflow limit cut to USD 75,000 per year from USD 200,000
-Individual cannot use forex for buying realty abroad
-Current measures aimed at moderating forex outflows
-Will consider genuine forex needs under approval route
-Current forex restrictions not to apply to navratna PSUs

RBI notifies ban on import of gold coins, medallions
-20 percent of gold imports, including dore bars, to be used for exports
-Imported gold sale for local use only on full upfront payment
-RBI may issue fresh circular on gold
-RBI may modify certain aspects of July 22 circular