Moneycontrol
Last Updated : Jan 08, 2018 08:56 AM IST | Source: CNBC-TV18

Stocks in the news: Sun Pharma, Shakti Pumps, Tata Steel, Sobha, Goa Carbon, Aban Offshore, NBCC

Shakti Pumps | Tata Steel | Sobha | Goa Carbon | Aban Offshore | NBCC | Force Motors | Sagar Cements and Venus Remedies are stocks, which are in news today.

CNBC TV18 @moneycontrolcom

Here are stocks that are in news today:

December auto sales: Tata Motors
-Total JLR UK sales down 17.3 percent at 6,195 units versus 7,487 units (YoY)
-Total Jaguar UK sales down 20.3 percent at 2,009 units versus 2,520 units (YoY)

-Total Land Rover sales down 15.7 percent at 4,186 units versus 4,967 units (YoY)

Indoco Remedies: Sources
-US FDA to begin inspecting Indoco Remedies' Unit 1 plant next week
-US FDA inspection at Indoco's Unit-1 may be pre-approval inspection
Alert:
-Indoco's Unit-1, located in Goa, is an oral dosage manufacturing plant
-US contributes around 25-30 percent of total export sales of Indoco
-Indoco Remedies' Unit-1 contribution to overall sales is small

-Indoco Remedies has no comment w.r.t US FDA inspection at Unit-1

UCO Bank to CNBC-TV18
-Need Rs 4,000 crore capital in FY18; government may infuse via recapitalisation bonds
-Have received Rs 1,375 crore capital in December
-Hope to come out of 'prompt corrective action' in 12-15 months
-Plan to do a QIP of Rs 500 crore this quarter
-Expect lending rates to remain stable

-Expect lending rates to harden next year onwards

Jindal Steel & Power's Naveen Jindal to CNBC-TV18
-Completed all our projects in Angul steel plant, reached 5 mt capacity
-Look forward to much higher EBITDA, better performance of JSPL
-Have always been a standard account, no bank has lost any money from JSPL
-Debt equity close to 1.6:1, company's debts are sustainable
-Steel prices have improved despite high raw material prices
-Will be raising Rs 1,000 crore for payment of dues to suppliers, vendors via QIP
-Will require around Rs 1,000-1,500 crore from banks for working capital
-Not going to increase company's debt in the process of fundraising

Alert: Bankers visited Angul Steel plant of JSPL on January 6

Shakti Pumps
-Receives a 'demand notice' in continuation of search

-IT Dept demands a payment of sum Rs 14.5 crore

Goa Carbon

Goa Carbon has posted Q3 net profit at Rs 22.50 crore against net loss of Rs 0.93 crore in year-ago and revenue more than doubled to Rs 186.6 crore from Rs 82 crore YoY.

Tata Steel

India production and sales in Q3FY18 were at 3.24 million tonnes and 3.30 million tonnes (provisional data), higher compared with 3.03 million tonnes and 3.08 million tonnes in Q2FY18, respectively. Europe steel production increased to 2.68 million tonnes (provisional) from 2.60 million tonnes but sales declined to 2.41 million tonnes from 2.60 million tonnes YoY.

Uttam Galva Steels

Uttam Galva Steels reported loss at Rs 179.96 crore for October-December quarter 2017 against loss of Rs 257.28 crore in year-ago and revenue declined sharply to Rs 666.90 crore from Rs 1,035.61 crore YoY.

Sobha

Sobha during December quarter achieved new sales volume of 9.33 lakh square feet (valued at Rs 750.9 crore) with an average realisation of Rs 8,045 per square feet, which is the highest every quarterly sales performance in terms of value and average realisation. Sales volume increased 8.4 percent and sales value 11.2 percent QoQ; and 52 percent & 92 percent YoY.

Lanco Infratech

Lanco Infratech's shareholding in subsidiary Lanco Kondapalli Power reduced to 28.15 percent from 58.91 percent and hence, lenders' controlling stake stood at 52.21 percent after strategic debt restructuring.

NBCC

The company has received contract from Ecotourism Development Corporation of Uttarakhand, Dehradun for construction of Kotdwar-Ramnagar Kandi Road amounting Rs 2,000 crore.

Den Networks

Den Networks has entered into an agreement with cable TV distribution company VBS Digital Distribution Network (VBS) for acquiring 51 percent stake in VBS for Rs 2.64 crore.

Visa Steel

Visa Steel is in discussion with SBI for settlement after the SBI filed an application with National Company Law Tribunal Kolkata to initiate corporate insolvency resolution process for the company under Insolvency & Bankruptcy Code.

Aban Offshore

Promoters of Aban Offshore Ltd have offered to pay up to USD 600 million in a one-time settlement to 17 banks to which it collectively owes nearly USD 2 billion, Mint reported quoting two people who were aware of the development.

Brigade Enterprises

Bengaluru-based Brigade Enterprises Ltd, which is in the process of moving all its hotel assets into a separate unit, may consider listing the new entity as a real estate investment trust (REIT) or going public in the future, Mint reported.

Jaypee Infratech

Tata Housing and the Lodha Group have filed initial bids for debt-laden realtor and road builder Jaypee Infratech: ET

Jaiprakash Associates

The Jaypee Group has restructured its outstanding foreign currency convertible bonds (FCCBs)

Sun Pharma

The US Food and Drug Administration is expected to begin inspection of Sun Pharma's manufacturing facility at Halol in the second week of February, sources told ET.

Other stocks and sectors in the news today:
-Force Motors' december domestic sales at 1,900 units
-Sagar Cements' sales up 65 percent (YoY) at 2,54,348 million tonnes versus 1,54,195 million tonnes
-Venus Remedies to consider details of QIP issue on January 8-NACL Industries said the board of directors approved to raise funds to the tune of Rs 300 crore for meeting its growth plans.
First Published on Jan 8, 2018 07:46 am
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