Here are stocks that are in news today:
HDFC-Sells Rs 550 crore worth Essar Steel loans at 40 percent discount-Loans sold to an asset re-construction company: BS
Varun Shipping-To split into 2 listed entities by end of May-Expects LPG business to be back on track by June: BS
Biocon Q4-Consolidated net profit up 78 percent at Rs 201 crore versus Rs 113 crore (YoY)-Consolidated total revenue up 15 percent at Rs 854 crore versus Rs 746 crore (YoY)-Consolidated EBITDA up 5 percent at Rs 202 crore versus Rs 193 crore (YoY)-Consolidated EBITDA margin at 24 percent versus 25.9 percent (YoY)-Exceptional item at Rs 106 crore
Hexaware Q1-Net profit down 4.6 percent at Rs 83.3 crore versus Rs 87.3 crore (QoQ)-Dollar revenue at USD 114.9 million versus USD 114.5 million (QoQ)-Rupee revenue at Rs 713.4 crore versus Rs 711.8 crore (QoQ)-EBIT down 11.1 percent at Rs 116 crore versus Rs 130.5 crore (QoQ)-EBIT margin at 16.2 percent versus 18.3 percent (QoQ)-Hexaware says attrition at the end of March 2015 was at 16.6 percent
Alstom India Q4-Net profit at Rs 71.9 crore versus Rs 183.4 crore (YoY)-Total income at Rs 808.3 crore versus Rs 941.1 crore (YoY)
RPG Life Sciences Q4-Net profit at Rs 4.7 crore versus loss of Rs 0.5 crore (YoY)-Total income up 25.8 percent at Rs 66.7 crore versus Rs 53 crore (YoY)
Man Industries Q4-Net profit at Rs 44.8 crore versus Rs 2.7 crore (YoY)-Total income up 79.8 percent at Rs 655 crore versus Rs 364.2 crore (YoY)
Axis Bank says-Despite a challenging year have delivered consistent performance-Digital strategy sees good traction-FY15 has been a good year for all subsidiaries-CASA growth at 15 percent in FY15-CASA deposit comprises 45 percent of total deposits-Banks loan book growth at 22 percent in FY15-Asset quality remains stable-Restructured accounts spread across different sectors-Expect cost of funds to come down-Restructuring pipeline stands at Rs 500 crore-Net interest margin at 3.81 percent versus 3.93 percent (QoQ)
PNB Gilts Q4-Net profit up 70.1 percent at Rs 14.8 crore versus Rs 8.7 crore (YoY)-Total income up 22.1 percent at Rs 95 crore versus Rs 77.8 crore (YoY) TCI Finance Q4-Net profit at Rs 0.17 crore versus Rs 1.5 crore (YoY)-Total income at Rs 2.3 crore versus Rs 1.2 crore (YoY)
TVS Motor says-2-wheeler industry to grow only 3-5 percent due to rural slowdown in FY16-Looking at growing market share to 14.5 percent in FY16-Looking to grow 3-wheeler market share from 22 percent to 27 percent in FY16-New launches Scooty Zest, Apache & Jupiter continue to do well-Company will grow faster than industry-Other expenses up due to Rs 54 crore of one-off expenses-Interest cost has doubled on QoQ basis due to inverted duty structure-Rs 300 crore of funds stuck due to inverted duty structure-Loss in Indonesia subsidiary come down to Rs 35 crore in FY15-Industry sales are slow in Indonesia-FY15 capex at Rs 400 crore, looking at capex of Rs 350 crore in FY16-Capex will be used for product development & capacity expansion-Industry growth will moderate in FY16-Scooter industry to grow at lower pace than FY15-Motorcycle industry sales could see marginal negative growth in FY15-Overall sentiment continues to be bleak
Delhi High Court to next hear Cairn India tax matter on May 7Cairn India says-Difficult to comply with I-T Dept order-I-T Dept has already frozen assets worth Rs 4,200 crore-I-T Dept calculated tax on incorrect principles-Company only made short-term gains on share swap
Government says-Proposal to renew long-term agreements (LTAs) with Japan and South Korea for iron-ore underway-Iron-ore exports to Japan and South Korea largely made from NMDC mines
RBI releases minutes of April 1 technical advisory committee meet on policyRBI says-Members noted that global growth remained tepid & divergent-Members concurred it’s challenge to understand growth trend under new series-Members felt that general level of activity in economy is still very low-4 members had recommended repo rate cut in April 7 policy review-3 members had recommended no change in repo rate in April 7 policy review-2 members had suggested 50 bps cut with forward guidance of no further decline-One member felt level of inflation expectations in the economy is still high-Two members felt current monetary policy stance was tight-2 members felt policy stance causing deceleration in consumption demand-2 members who recommended 25 bps repo rate cut felt inflation has declined-One member who recommended no change in repo rate suggested 50 bps SLR cut-Governor Rajan went against majority opinion of advisors on policy rate-Majority of 7 external advisors to RBI board favoured rate cut of up to 50 bps
RBI-Has proposed to government to amend RBI Act to include limited liability partnership (LLPs) as NBFCs-Has informed parliamentary panel on estimates regarding its proposal to government
Parliamentary panel on estimates-Has supported RBI's proposal to include LLPs as NBFCs in the RBI Act-Has also recommended several amendments to RBI Act
RBI says-FSDC committee reviewed global & local factors impacting financial stability-FSDC also discussed measures to deepen credit default swap market
RBI-Imposes penalty on Bank of Maharashtra, OBC and Dena Bank for violation of norms-Imposes penalty of Rs 1.5 crore each on Bank Of Maharashtra, Dena Bank and OBC-Cautions 8 other banks including Central Bank of India, BOI and PNB-Cautions 8 other banks including Punjab & Sind Bank, SBBJ and UCO Bank-Cautions 8 other banks including Vijaya Bank and Union Bank
Government says-GAIL to lay natural gas pipeline from Jagdishpur (UP) to Haldia (West Bengal)-GAIL to execute Jagdishpur-Haldia project in phases-Phase-I of GAIL pipeline will be laid with investment of Rs 3,957 crore-Pipeline is scheduled to be commissioned by 2018-19-Initial validity of industrial licence for defence sector revised to 7 years-Licence can be can extended up to 3 years for existing & future licenses
Nifty changes-IDFC to be excluded from Nifty effective May 29-Bosch to be included in Nifty effective May 29
L&T on CNBC-TV18-Government should focus now on implementation of policies-Seeing definite thrust in removing hurdles-Seeing major focus on ease of doing business by government-Expect volume to increase significantly in next 1-2 years-Extension helps because licenses expired before output began-Make in India policy will address industry's concerns
ONGC-Notifies 4 more hydrocarbon discoveries in Q4FY15-Maintains reserve replacement ratio at more than one-Begins FY16 with two significant discoveries
JSPL says-Shocked to know of CBI filing chargesheet w.r.t coal block award-Deny all allegations made against company and management-Availing appropriate remedy in accordance with the law
Mylan raises offer to acquire Irish pharma company PerrigoMylan says-Increased offer consists of USD 75/share in cash and 2.3 ordinary shares of company
Other stocks and sectors that are in news today:-RBI says FIIs can now invest up to 40 percent in HSIL-RIL, ONGC - Gas field development rules eased: BS-ONGC Videsh seeks tax parity with ExxonMobil in Russia: ET-Infosys ropes in SAP executive Jason Wolf for ‘design push’: ET-TRAI releases draft Telecom Consumers Protection (Eighth Amendment) Regulations, 2015-Rakesh Jhunjhunwala sells 6.2 lakh shares of Sterling Holiday at Rs 270/share via block deal-Deepak Fertilizers sells additional 9.3 lakh shares in Mangalore Chemicals via block deal-Promoter Gulf Oil International buys 12.37 lakh shares in Gulf Oil Lubricant via block deal-Supreme Infra bags EPC contract worth Rs 134.2 crore from Damodar Valley Corporation-Flipkart acquires mobile networking company Appiterate
Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.
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