Moneycontrol
Last Updated : Jan 10, 2018 09:00 AM IST | Source: Moneycontrol.com

Stocks in the news: Infosys, GAIL, Apollo Tyres, SAIL, Rel Infra, Motherson, Axis Bank

Infosys | Gail | Electrosteel Castings | Balasore Alloys | NMDC | SAIL | Bhushan Steel | Whirlpool | Syndicate Bank | BoB | Union Bank | IL&FS Technologies | Motherson Sumi | SBI | DCB Bank | Apollo Tyres | Coal India | Power Grid and Reliance Infrastructure are stocks, which are in news today.


Here are stocks that are in news today:

Infosys

The company has signed an agreement with the US Internal Revenue Service (IRS), resulting in an effective tax rate of about 100 basis points lower going forward
Infosys says
-Expect to reverse tax provisions of about USD 225 million made in previous periods
-Expect to payout about USD 233 million to be paid over next few quarters

-Reversal of tax provisions to have positive impact on consolidated basic EPS for December quarter by USD 0.10

GAIL

Oil Minister Dharmendra Pradhan said GAIL should lay pipeline, marketing can be done by anyone.

GAIL as a company should focus on providing infrastructure particularly in eastern India to aid the country's transformation to a gas-based economy, Pradhan opined.

Lupin
-Price decline in generics to continue in high single digits in 2018, in US
-Share of top 3 buying groups will be 90 percent in 2018 versus 52 percent in 2012, in US
-Expect increased generic competition is US market going ahead
-India expected to grow at over 10 percent CAGR

-S Africa, Mexico, Brazil, Philippines expected to see double-digit growth

Telecom stocks: Sources
-Telecom Commission agrees with TRAI to increase spectrum cap
-Intra-band spectrum cap to be increased to 35 percent from 25 percent

-Telecom Commission approves increasing cap to 50 percent in sub-1 GHz spectrum band

Retail sector - Cabinet Meet
-May consider allowing 100 percent FDI in single-brand retail via automatic route
-May ease FDI norms for 6 sectors at meet today
-May mull allowing 25 percent sale of non-food items in food retail stores with FDI component
-May ease FDI norms for the construction sector
-May pave the way for 100 percent FDI in airline companies
-May consider allowing management control to foreign investors
-May ease labelling norms applicable on imported products sold on retail
-May allow non-food items to make up 25 percent of inventory in food retail stores with FDI

Alert - Currently only 49 percent FDI in single-brand retail is allowed via automatic route

Electrosteel Steels has received 4 resolution plans from
1. Renaissance Steel India Private Limited;
2. Tata Steel Limited;
3. Vedanta Limited;

4. Edelweiss Alternative Asset Advisors Pte

Balasore Alloys

Balasore Alloys will acquire 70 percent of Zimbabwe Alloys. ZAL holds 19,780 hectares of mining areas in different parts of Zimbabwe, which has proven resources of 72.25 million tonnes of chrome ore.

NMDC

Institutional investors put in bids worth Rs 976 crore on Tuesday for buying government's part stake in state-owned miner National Mineral Development Corporation (NMDC).

SAIL

LN Mittal's ArcelorMittal and state-owned Steel Authority of India (SAIL) are exploring a joint bid for Bhushan Steel, the distressed company referred to the National Company Law Tribunal, Moneycontrol has learned from two independent industry sources

Other stocks and sectors in the news today:
-Dr Reddy’s Labs gets US FDA nod for Tetrabenazine tablets (used to treat disabling involuntary movements in Huntington's Chorea)
-Motherson Sumi through subsidiary forms JV with Ossia Inc,to invest USD 14 million
-Punj Lloyd seeks to recover Rs 1,300 crore from Libya: ET
-Axis Bank looks to foray into life insurance business; eyes IDBI Federal Life, Tata AIA: Media Report
-Nath Bio's institutional share sale opens on January 22 at a floor price of Rs 468.69 per share
-Power Grid approved a Rs 92 crore investment in Tumkur Ultra Mega Solar Power Park
-Infosys signs advance pricing agreement with US internal revenue service
-SEBI amends circular on scheme of arrangement by listed companies
-Syndicate Bank keeps lending rates under MCLR, base rate, BPLR unchanged
-Essar in talks with Brookfield to sell office buildings in Mumbai for Rs 2,400 crore: ET
-Whirlpool to lift fridge output capacity with Rs 182 crore outlay
-Reliance Infrastructure moves MERC for sale approval of Mumbai power business to Adani Transmission
-DCB Bank approve to raise Rs 150 crore via bond
-Apollo Tyres will invest around Rs 1,800 crore on a new plant in Andhra Pradesh, the company's seventh facility globally, to cater to the rising demand for passenger vehicle tyres
-IDFC Bank, Capital First explore merger: Talks at initial stage; deal will help bank tap into 5 million retail & SME customers of latter
-IL&FS Technologies bags Rs 200 crore surveillance project contract
-SBI to raise Rs 5,000 crore via bonds for affordable housing-BoB, Union Bank put over Rs 17,000 crore bad loans on sale
First Published on Jan 10, 2018 08:06 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant