Stocks in news: Cipla, Gitanjali, Mandhana Retail, NALCO, Jagran

Nectar Life Q2-Net profit up 18.7 percent at Rs 16.1 crore versus Rs 13.6 crore (YoY)-Total income up 4.5 percent at Rs 414.7 crore versus Rs 396.7 crore (YoY)

Gitanjali Gems Q2-Consolidated net profit up 50.3 percent at Rs 47.50 crore versus Rs 31.60 crore (YoY)-Consolidated total income up 14.7 percent at Rs 3,964.80 crore versus Rs 3,457.00 crore (YoY)-Consolidated EBITDA up 5.5 percent at Rs 201.40 crore versus Rs 213.2 crore (YoY)-Consolidated EBITDA margin at 5.1 percent versus 6.2 percent (YoY)

Cipla-Netherlands arm forms JV with Iranian company Ahran Tejarat-Netherlands arm will hold 75 percent stake in JV & Iranian partner will hold 25 percent-Netherlands arm will invest up to 16.8 euro million in cash in the JV

Russia Energy Minister Alexander Novak-12 oil companies confirm commitment to production cut-Oil companies to cut production by end of Q1 2017

OPEC-Agreed oil cuts of 1.8 million barrels per day to bring market to balance in 2nd half-Non-OPEC members need to cut output to rebalance oil market-Upgrades annual global oil demand growth by 0.01 mbpd for 2016, 2017-Non-OPEC output to grow faster than expected by 70,000 bpd next year

Mandhana Retail-Rakesh Jhunjhunwala buys 28.1 lakh equity shares; 12.74 percent of paid-up capital-Rakesh Jhunjhunwala buys 12.74 percent equity in company via off market transaction

Power Minister Piyush Goyal says-11,000 MW thermal plants which are over 25 years old to be phased out-Will seek environmental approval for replacing capacity with new infra-Plan to renovate NTPC's power plants to cost Rs 50,000 crore over 5 years-NTPC to fund renovation without any budgetary support

Other stocks and sectors that are in news today:-Gitanjali Gems unit Nakshatra to raise Rs 650 crore via IPO-Promoters hike stake in SH Kelkar by 0.93 percent-Swaraj Automotives' promoter to sell 13.3 percent stake via offer for sale; floor price set at Rs 150/share-Cipla to mull fundraising via issue of equity shares or ADR/GDR, Other Securities-Welspun India forays into flooring solutions; to invest Rs 600 crore in Gujarat facility-Infosys invests in IdeaForge, a startup focused on unmanned aerial vehicle solutions-LKP Securities added to B Group-Alankit has ex-date for 1:2 stock split today-Vishal Bearings has ex-date for 1:4 bonus today-ONGC has ex-date for 1:2 bonus, F&O lot revised to 3750-Listing - TCI Express-Precision Wires - CARE assigns rating of A and A1-NELCO - CARE assigns long term rating of A--Kilburn Engineering board decided not to go ahead with merger of EMC, McNally Bharat, McNally Sayaji with itself-Adhunik Metaliks considered surrender of mining lease of Kulum iron ore mine-Allcargo Logistics to buyback shares worth Rs 124.8 crore at a price of Rs 195 per share-Vardhman Special Steels' steel melting capacity increased from 1.25 lakh tonnes per annum to 1.6 lakh tonnes per annum-Foods & Inns board meeting on December 17 to consider conversion of loan into equity and further issuance of equity-Sat Industries board meeting on December 24 to consider expansion of global trade and make further investment in Italica Ventures-Supreme Holdings says fully repaid term loan of Rs 41.1 crore to Oriental Bank of Commerce-MBL Infra says MP Road Development has illegally terminated BOT project-Jagran Prakashan to redeem non-convertible debentures worth Rs 29 crore-IFCI in focus - NSE to file DRHP next week-Wipro to split India and West Asia business-Cabinet approves major Port Authorities Bill, 2016