Here are stocks that are in news today:
Results Today: Cairn India, Wipro, YES Bank, ING Vysya Bank, Polaris, Indiabulls Real Estate, Coromondel Internationa, Eros International, Gujarat Pipavav, Jyothy Labs, KPIT Cummins, Mahindra Lifespace, Mahindra Composite, Polaris Financial Tech, SKF India, V-Guard Industries, Zensar Tech
Department of Telecommunication (DoT) finalises M&A guidelines; formal announcement shortly: Sources
-M&A to be allowed where merged market share is 50 percent
-Market share level hiked to 50 percent versus 35 percent proposed earlier
-Spectrum Cap to be hiked to 50 percent in merged entity
-Market share based on user base & revenue of licensees
-Total spectrum in circle with merged entity at 25 percent maximum
-Total spectrum in a band with merged entity at 50 percent maximum
-Excess spectrum beyond limit to be surrendered in 1 year
-No refund to dues paid to acquire excess spectrum
-'Significant market power' definition of TRAI to apply
-Telecom companies will have to pay market rate of non-auction spectrum
-‘Liberalised’ use of spectrum only if market rate paid
-12 months to be granted for transfer of licenses
-M&A applications to be filed before Company Law Tribunal
-Transfer/merger shall be as per decision of licensor (DoT)
-Unified licences to be exempted from lock-in period
-Internet service providers' merger with telecom companies permissible
Alert: Cabinet had given in-principle nod for M&A policy in May
Uttar Pradesh moves SC to cancel tax exemption to Formula 1 event
-Supreme Court notice to
Jaypee Sports on Uttar Pradesh's F1 tax plea
Alert: SC already hearing plea on entertainment tax on Formula 1
-UP government to SC: Will withdraw exemption on entertainment tax on F1
-UP government keen to withdraw exemption on entertainment tax for F1
-UP government tells Supreme Court will withdraw tax retrospectively
-JP Sports to SC: Levy of entertainment tax to be prospective
-Supreme Court to hear matter in 4 weeks
Other stocks and sectors that are in news today:
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Radico Khaitan hives off Indian made foreign liquor (IMFL) business (this is prelude to Japanese company Suntory buying 50 percent stake in the demerged unit)
-Global funds line up for
Idea Cellular's Rs 3000 crore QIP issue: ET (QIP only after results)
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Clariant Chemicals shortlist 4 bidders for Thane land, company hopes to raise Rs 1500 crore: ET
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TCS wins multi-year, multi-million deal from Bombardier Transportation
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NHPC board to mull buy-back of shares on October 24
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Tata Steel: Company's European arm gets 5-year order from UK's Network Rail: Reuters
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Jet Airways likely to shift focus to shorter global routes: ET
Orbit Corporation Q2:
-Consolidated net loss at Rs 26.1 crore versus profit of Rs 8.1 crore (YoY)
-Consolidated income from operations at Rs 32 crore versus Rs 100.7 crore (YoY)
Karnataka Bank Q2 (Poor results)
-Net profit at Rs 29 crore versus Rs 117.2 crore (YoY)
-NII at Rs 284.5 crore versus Rs 232.6 crore (YoY)
-Gross NPA at 3.59 percent versus 3.22 percent (QoQ)
-Net NPA at 2.25 percent versus 1.96 percent (QoQ)
-Provisions at Rs 126.7 crore versus Rs 73 crore (QoQ)
-Capital adequacy ratio (Basel III) at 13.22 percent versus 13.86 percent (QoQ)
JK Lakshmi Cement Q2
-Net profit at Rs 10.3 crore versus Rs 51 crore (YoY)
-Revenue from operations at Rs 449 crore versus Rs 491.4 crore (YoY)
-EBITDA at Rs 56 crore versus Rs 113 crore (YoY)
-EBITDA margin at 12.5 percent versus 23 percent (YoY)
Dewan Housing Q2
-Net profit at Rs 129.1 crore versus Rs 86 crore (YoY)
-Revenue at Rs 1,167 crore versus Rs 816.6 crore (YoY)
-Dewan Housing appoints Deo Tripathy as president & COO
-Dewan Housing appoints Santosh R Sharma as CFO
Rallis India Q2
-Consolidated net profit at Rs 74.7 crore versus Rs 61.5 crore (YoY)
-Consolidated net sales at Rs 596.7 crore versus crore Rs 481 crore (YoY)
-Consolidated EBITDA at Rs 116 crore versus Rs 93 crore (YoY)
-Consolidated EBITDA margin at 19.4 percent versus 19.3 percent (YoY)
Parrys Sugar Q2
-Net loss at Rs 20.7 crore versus loss of Rs 34.6 crore (YoY)
-Net sales at Rs 79.2 crore versus Rs 60.5 Crore (YoY)
Merck Q2
-Net profit at Rs 15.8 crore versus Rs 25.8 crore (YoY)
-Net sales at Rs 201.8 crore versus Rs 181.2 crore (YoY)
Swaraj Engines Q2
-Net profit at Rs 17 crore versus Rs 14 crore (YoY)
-Net sales at Rs 150.4 crore versus Rs 120.7 crore (YoY)
Liberty Shoes Q2
-Net profit at Rs 3 crore versus Rs 7.5 lakh (YoY)
-Net sales at Rs 104.4 crore versus Rs 70 crore (YoY)
