Stocks in news: Shree Renuka, Ranbaxy, Tech Mah, Prestige

Here are stocks that are in news today:

Results Today: L&T, Thermax, Zee Entertainment, NCC, Redington India, Subros, T D Power Systems, Torrent Cables, Geojit BNP, Orient Refractories, Rane Madras

Service Tax Department sends show cause notice to Bharti Airtel: CNBC-TV18 exclusive sources say
-Notice alleges Rs 200 crore service tax evasion by Bharti Airtel
-Notice for claiming service tax credit on towers
-Notice says towers immovable property, no credit due
-Airtel says towers not immovable property
-Final order yet to be passed 

Offer for sale (OFS) today
Oracle Financial Services
-Sets floor price at Rs 2,275/share (CMP Rs 2,420.15)
-Seller Oracle Global Mauritius
-Proposes to sell 44.3 lakh shares in company
-MS India and Deutshe Equities are seller brokers
JSW Energy
-Sets floor price at Rs 61.50/share
-Promoter to sell 2.82 crore shares 

Omaxe OFS
-subscribed 0.7 times
-Gets bids for 34 lakh shares
-Total issue size was at 50 lakh shares

Styrolution ABS OFS
-Subscribed 2.3 times
-Gets bids for 51 lakh shares
-Total issue size was at 21.7 lakh shares

Puravankara Projects
-Institutional Placement Programme (IPP) issue opens, close tomorrow
-Floor price at Rs 80/share
-Price band for IPP issue at Rs 80-85/share

Just Dial IPO closes today
-Price band Rs 470-543/share, 10 percent discount to retail investor
-Subscribed - QIB 0.9 times, NII 0.01 times, Retail 0.7 times and Total 0.7 times

SREI Infra board
-Approves raising up to Rs 1,500 crore via debentures
-Approves preferential issue of up to Rs 500 crore

Heidelberg Cement
-Okays sale of Raigad Cement to JSW Group
-Selling Raigad unit as it is a low-margin asset
-Finalising terms of sale of Raigad unit

Zee Learn GDR issue fully subscribed 
-USD 20 million GDR for overseas investor closed for subscription yesterday
-GDR issue for 56.2 lakh GDR at USD 3.65/GDR
-Each GDR represent 10 equity shares of company

Tech Mahindra Q4 QoQ
-Consolidated net profit at Rs 377.2 cr Vs Rs 275.8 cr
-Consolidated income from operations at Rs 1,907 cr Vs Rs 1,791 cr
-Forex loss of Rs 37.3 cr Vs gain of Rs 12.1 cr
-Consolidated EBITDA at Rs 380 cr Vs Rs 376 cr
-Consolidated EBITDA margin at 19.9 percent Vs 21 percent
-Dollar Revenue up 7.2 percent at USD 353 million

Tech Mahindra says
-US is on the path of recovery
-Asia, Middle East and Africa performed in-line with expectations
-Expect Europe growth to be low & patchy
-Active client count stands at 151 Vs 130 (YoY)
-Expect Satyam merger judgment to come up in June second week

Dhampur Sugar Q4
-Consolidated net profit at Rs 16.6 Cr Vs Rs 22.2 Cr (YoY)
-Consolidated net sales at Rs 352.2 Cr Vs Rs 412.2 Cr (YoY)

JK Paper Q4
-Net profit at Rs 21 Cr Vs Rs 11.1 Cr (YoY)
-Net sales at Rs 383.3 Cr Vs Rs 357 Cr (YoY)

Subex Q4
-Consolidated net loss at Rs 1.6 Cr Vs profit of Rs 7.7 Cr (QoQ)
-Consolidated total income from operations at Rs 80 Cr Vs Rs 90.6 Cr (QoQ)

Prestige Estates Q4
-Net profit at Rs 89 Cr Vs Rs 38.3 Cr (YoY)
-Total income from operations at Rs 559.72 Cr Vs Rs 202.12 Cr (YoY)

JSW Ispat Steel Q3
-Net profit at Rs 94.2 Cr Vs loss of Rs 140 Cr (YoY)
-Net sales at Rs 2,621.3 Cr Vs Rs 2,721 Cr (YoY)

AstraZeneca Pharma Q4
-Net loss at Rs 18.6 Cr Vs loss of Rs 33 Cr (YoY)
-Net sales at Rs 94.8 Cr Vs Rs 91.7 Cr (YoY)

Other stocks and sectors that are in news today:
-Shree Renuka to raise USD 350 million via bond issue by Brazilian arm – ET
-After US, India to probe Ranbaxy documents, DGCI to examine past dossiers, drug applications – BS
-Ramco Systems to consider issue of equity shares on rights basis on May 30