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Stocks in news: DLF, Fortis Health, Shyam Telecom, 8K Miles

DLF | Power Grid | Bharti Airtel | GMR Infrastructure | Vedanta | Fortis Healthcare | Shyam Telecom | Reliance Capital and 8K Miles are stocks, which are in the news today.
Oct 9, 2015 / 08:17 AM IST
 
 
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Here are stocks that are in news today:


Sun Pharma withdraws its appeal in lawsuit filed by Ranbaxy in US Court versus USFDA
Alert: Ranbaxy had challenged revocation of tentative nod for Nexium & Valcyte in US
Sun Pharma says
-Withdrawal of lawsuit will not have adverse financial impact on company


Reliance MF, HDFC MF in race for Goldman’s Asset Management business in India (Reliance Capital in focus)
-Goldman Sachs Group in India has assets worth over Rs 7,100 crore: ET


8K Miles Q2
-Consolidated net profit up 20.8 percent at Rs 8.7 crore versus Rs 7.2 crore (QoQ)
-Consolidated total income up 20.8 percent at Rs 61.1 crore versus Rs 50.6 crore (QoQ)


Indian Sugar Mills Association says
-Welcome government decision to extend CENVAT exemption to ethanol produced from molasses
-Notification to help government pass on full benefit of approximately Rs 5 per litre of ethanol
-Government notification will benefit 130 ethanol producing sugar mills in the country


RBI fixes loan to value ratios (LTV) & risk weights for individual housing loans
-RBI lowers risk weights on low value housing loans
RBI says
-Risk weights on home loans up to Rs 30 lakh lowered from 50 percent to 35 percent
-Risk weights on home loans up to Rs 75 lakh cut to 35 percent if LTV ratio below 75 percent
Alert: Lower risk weights can help banks lower interest rate on loans


RBI says
-Foreign shareholding through NRIs in Shyam Telecom reaches trigger limit
-Further buy of Shyam Telecom shares by NRIs allowed only after RBI nod


ICICI Bank, MD, Chanda Kochhar says
-Work on bad loans is moving in the right direction
-Additions to NPAs should be lower this year compared to the last
-No discrepancies over accounts flagged by rating agencies
-Credit quality continues to remain stable on retail loans
-Have more than 40-45 percent of our lending in retail
-Leverage levels of the corporate section have gone up
-Banks have been working with promoters to sell assets
-Won't say everybody's leverage levels have come down to controllable levels
-Rating agencies downgrade even if there is one day default
-For banks, on day one you don't make them NPL, there is a curing period
-Strategic debt restructuring (SDR) is a very good tool & we would be & we are using it very effectively
Alert: SDR enables banks to convert loans to equity
-Will be taking steps going forward under the formal structure of SDR
-Have worked with defaulting companies' promoters to sell core assets
-Intend to monetise at least one of the insurance companies within 12 months
-Will either list the insurance company or bring in another investor


Government eyes incentives in maintenance, repair & overhaul (MRO) in aviation sector: Sources
-Government considering slew of incentives for MRO sector
-Government mulls service tax exemption on labour for MRO for 10 years
Alert: Currently service tax on labour component attracts 10 percent
-Government considering lowering of royalty paid to Airport Authority of India
Alert: Currently MRO within Airport Authority Of India pays royalty of 13 percent
-Government considering SEZ status to MRO facility for tax benefits
-PMO prepared note on MRO post consultation with industry
-PMO’s note sent to Department Of Industrial Policy & Promotion for viability of incentives last month
-Move to incentivise carriers to conduct MRO within India
-Other incentives under consideration include CENVAT credit
Alert: Civil aviation ministry had sought tax sops in August


Roads & Highways Minister Nitin Gadkari says
-Many highway projects were stalled over last few years
-Have terminated 41 projects; work has started w.r.t Rs 3.20 lakh projects
-Personal target is to construct 100 km of roads per day
-Government's aim is to reduce cost of construction for building roads
-Technology, innovation & e-governance will drive government's vision
-To inaugurate Southeast Asia's largest tunnel in Srinagar by February-March
-Looking to operate pods from Dhaula Kuan to Manesar
-Ticket prices of pods from Dhaula Kuan to Manesar to be lesser than the metro
-Lithium oil battery operated vehicles to become a reality soon
-Battery cost to come down to Rs 5 lakh from Rs 55 lakh
-Have received tenders from 9-10 companies for 3 hybrid annuity projects
-Will invite tenders for remaining 17 hybrid annuity projects in 2-3 months


Financial inclusion: RBI Governor Raghuram Rajan says
-Credit has to be offered through traditional institutions
-Links between telcom companies, banks must be strengthened for credit supply
-Links between telecom & banking industry important for financial inclusion
-Traditional banks are rethinking how they do business
-For a lot of people in India, access to cash is difficult
-Payments services are an important channel for financial inclusion
-There is this issue if financial inclusion should be pushed or pulled
-Technology is the biggest issue we are grappling with as regulators


DLF says
-Evaluated options available to reduce conflict of interest with compulsorily convertible preference shares (CCPS) Holders
-To reduce conflict of interest with CCPS holders w.r.t. the rental business
-Audit panel recommends that CCPS holders sell CCPS to unrelated third party
-CCPS holders to invest CCPS’ sale proceeds back in the company
-Have authorised audit panel to finalise strategic terms of the transaction
-Will appoint bankers, transaction advisors, tax & legal advisors for transaction
-Post transaction, company will continue to hold 60 percent equity in DLF CyberCity Developers
-To take necessary steps to adhere to minimum public shareholding norms
-Requested DLF CyberCity Developers for full cooperation for consummation of transaction


DLF CFO Ashok Tyagi says
-Audit committee looked at multiple options
-CCPS will be sold to a potential 3rd party
-Too premature to comment on the valuation
-Will look at quickest option to ensure compliance with public float

Other stocks and sectors that are in news today:
-Fortis Healthcare owned SRL Diagnostics plans Rs 1,250 crore share sale: ToI
-Vedanta eyes solar energy business, plans to create 500MW capacity: ET
-CARE cuts ratings for Hindalco’s NCDs worth Rs 6,000 crore to AA from AA+
-GMR - Delhi International Airport (DIAL) keen on bond issue to repay bank loans: ET
-Bharti Airtel launches Wi-Fi app 'Airtel Hangout'
-FIPB to consider 11 FDI proposals on October 19
-Power Grid: Subsidiary Grid Conductors to manufacture aluminium and aluminium alloy electricity conductors for company
-NCDRC to next hear Nestle case on October 15

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