Here are stocks that are in news today:
Government launches PSB revamp plan 'Indradhanush'Finance Minister Arun Jaitley says-Last 2-3 years have been challenging for PSU banks-No cause for panic w.r.t PSU Banks-Initiatives taken recently have helped fix some problems of PSU banks-Government has been reviewing the health of PSBs; no cause for panic-Need to deal with banks & stressed sectors separately-Highway sector is beginning to see positive movement-Steel, power, highways, discoms & sugar sectors responsible for banking stress-Problem of steel sector is external in nature-Trying to address stress in sugar sector-Unless states take corrective action banks can't support discoms endlessly-A banking investment holding company will be set up-Government to announce details of bank board bureau soon-Each bank will be monitored on key performance indicators
Banking Secretary Rajiv Mehrishi says-Have appointed MD & CEO for Bank of Baroda (BoB), Punjab National Bank (PNB), Canara Bank & IDBI Bank-Rakesh Sharma of Lakshmi Vilas Bank will be new MD & CEO of Canara Bank-Ravi Venkatesan to be non-executive chairman of BoB-Bank board bureau to be appointed in six months-Six more non-executive chairman posts to be filled in 6 months-Bank board bureau will start functioning in April 2016-3 members each from government & private sector to be part of bank board bureau-G Padmanabhan will be non-executive chairman of Bank Of India-TN Manoharan will be non-executive chairman of Canara Bank-G Narayanan will be non-executive chairman of Vijaya Bank-TCV Subramanian will be non-executive chairman of Indian Bank-Will infuse Rs 2,009 crore into Indian Overseas Bank (IoB) and Rs 1,080 crore into United Bank-Will infuse Rs 5,531 crore into SBI & Rs 2,255 crore into Bank of India-Will infuse Rs 1,786 crore into BoB & Rs 1,732 crore into PNB-Will infuse Rs 394 crore into Bank of Maharashtra & Rs 407 crore into Dena Bank-Need to develop a vibrant debt market, strengthen asset reconstruction companies (ARCs)-Will infuse Rs 2,229 crore into IDBI Bank-Will infuse Rs 947 crore into Canara Bank & Rs 857 crore into Corporation Bank-Will infuse Rs 378 crore into Andhra Bank & Rs 283 crore into Allahabad Bank-Other strategic initiatives such as consolidation may also be announced-Next Gyan Sangam will be held on January 14-16-Bank holding company will Help PSU banks raise capital-More flexibility would be given to banks to recruit staff at middle level-Rs 20,000 crore capital infusion into PSBs will be released in a month
Government announces 7 elements to reform PSU banks-7 elements include appointments, bank boards, capital, de-stressing-7 elements include empowerment, framework of accountability & governance reforms
Government says-PS Jayakumar appointed MD & CEO of Bank Of Baroda-MO Rego appointed MD & CEO of Bank Of India-Rakesh Sharma appointed MD & CEO of Canara Bank-Kishore Kharat PirajiI appointed MD & CEO of IDBI Bank-Usha Ananthasubramanian appointed MD & CEO of Punjab National Bank-Ravi Venkatesan appointed non-executive chairman of Bank Of Baroda-G Padmananbhan appointed non-executive chairman of Bank Of India-TN Manoharan appointed non-executive chairman of Canara Bank-G Narayanan appointed non-executive chairman of Vijaya Bank-TCV Subramainian appointed non-executive chairman of Indian Bank
July auto sales: Tata Motors-Group global wholesales at 73,535 units versus 76,602 units (MoM)-JLR global wholesales at 32,568 units versus 34,908 units (MoM)-Jaguar global wholesales at 6,882 units versus 7,087 units (MoM)-Land Rover global wholesales at 25,686 units versus 27,821 units (MoM)
Standard Life to increase its stake in HDFC Life to 35 percentHDFC says-To sell 17.95 crore of HDFC Life to Standard Life at Rs 95/share (9 percent equity)-Post stake sale in HDFC Life, company’s holding in HDFC Life will be 61.65 percent-Post stake sale in HDFC Life, Standard Life to hold 35 percent in HDFC Life
IOC -Cuts petrol prices by Rs 1.27/litre effective midnight-Cuts diesel prices by Rs 1.17/litre effective midnight
Jet Airways says-Etihad has no plans to increase stake in company-Capacity to increase by 10 percent in FY16-Revenue growth will be in line with capacity growth-Company’s total debt stands at Rs 11,902 crore-Not defaulting any payments to banks or vendors
Tata Steel MD TV Narendran says:-Government should sort out internal challenges such as availability of raw material & import duty-China produces 825 million tonnes of steel against demand of 725 million tonnes
Punj Lloyd acquires two additional vessels aggregating 24000 deadweight tonnage-Acquisitions made for undisclosed sum: BS
Competition Commission of India chairman Ashok Chawla says-Capping of airfares will violate competition norms; prices must be determined by market forces-CCI investigating alleged cartelisation among carriers in fixing airfares; probe to take a couple of months-CCI doing its job without bothering about criticism or perceptions; regulators not in business of popularity contest
Videocon Industries Q2-Net profit up 3.9 percent at Rs 10.6 crore versus Rs 10.2 crore (YoY)-Total income down 0.5 percent at Rs 3,119 crore versus Rs 3,135.6 crore (YoY)
Cipla Q1-Consolidated net profit at Rs 651 crore versus Rs 294.6 crore (YoY)-Consolidated total income up 41.6 percent at Rs 3,852.8 crore versus Rs 2,720 crore (YoY)-Consolidated EBITDA up 91.8 percent at Rs 1,039 crore versus Rs 542 crore (YoY)-Consolidated operating margin at 27 percent versus 19.9 percent (YoY)
Reliance Communications (RComm) Q1-Consolidated net profit down 22.7 percent at Rs 177 crore versus Rs 228 crore (QoQ)-Consolidated total income down 3.5 percent at Rs 5,493 crore versus Rs 5,694 crore (QoQ)-Consolidated EBITDA down 7.1 percent at Rs 1,827 crore versus Rs 1,967 crore (QoQ)-Consolidated EBITDA margin at 33.3 percent versus 34.5 percent (QoQ)-Average revenue per user at Rs 140-Revenue per minute at 44.5 paisa
Essar Shipping Q1-Consolidated net loss at Rs 115.7 crore versus loss of Rs 140.2 crore (YoY)-Consolidated total income down 14.2 percent at Rs 425.9 crore versus Rs 496.5 crore (YoY)
Monnet Ispat Q1-Net loss at Rs 375.3 crore versus profit of Rs 17.4 crore (YoY)-Total income down 30.2 percent at Rs 624 crore versus Rs 893.7 crore (YoY)
Pipavav Defence Q1-Net loss at Rs 167.3 crore versus profit of Rs 8 crore (YoY)-Total income at Rs 107 crore versus Rs 316.5 crore (YoY)
Bhushan Steel Q1-Net loss at Rs 739 crore versus loss of Rs 141.6 crore (YoY)-Net sales at Rs 2,982.6 crore versus Rs 2,801.7 crore (YoY)
Opto Circuits Q1-Consolidated net profit down 8.5 percent at Rs 8.6 crore versus Rs 9.4 crore (YoY)-Consolidated total income down 19.8 percent at Rs 251.3 crore versus Rs 313.5 crore (YoY)
Suven Life Q1-Net profit down 41.8 percent at Rs 20.2 crore versus Rs 34.7 crore (YoY)-Total income down 28.6 percent at Rs 101 crore versus Rs 141.5 crore (YoY)
Tilaknagar Industries Q1-Consolidated net loss at Rs 45 crore versus profit of Rs 30.8 crore (YoY)-Consolidated total income down 45.7 percent at Rs 116.3 crore versus Rs 214 crore (YoY)
Gitanjali Gems Q1-Consolidated net profit at Rs 28 crore versus Rs 10.1 crore (YoY)-Consolidated total income up 37.2 percent at Rs 2,845 crore versus Rs 2,073 crore (YoY)
GOL Offshore Q1-Net loss at Rs 5.2 crore versus profit of Rs 3.5 crore (YoY)-Total income up 56.9 percent at Rs 358.8 crore versus Rs 228.7 crore (YoY)
Amara Raja Q1-Net profit at Rs 122 crore versus Rs 106 crore (YoY)-Total income at Rs 1,145 crore versus Rs 1,029 crore (YoY)-EBITDA at Rs 208 crore versus Rs 176 crore (YoY)-EBITDA Margin At 18.2 percent versus 17.1 percent (YoY)
Gammon India Q3-Net loss at Rs 187.5 crore versus loss of Rs 120.3 crore (YoY)-Net sales down 19.4 percent at Rs 744.2 crore versus Rs 922.8 crore (YoY)
Gayatri Projects Q1-Net profit at Rs 10.7 crore versus Rs 2.2 crore (YoY)-Total income up 18.4 percent at Rs 405 crore versus Rs 342.2 crore (YoY)
Vivimed Labs Q1-Consolidated net profit at Rs 24.2 crore versus Rs 17.1 crore (YoY)-Consolidated total income at Rs 333 crore versus Rs 367.8 crore (YoY)
Ess Dee Aluminium Q1-Consolidated net profit up 27.3 percent at Rs 7 crore versus Rs 5.5 crore (YoY)-Consolidated total income up 1.7 percent at Rs 184.6 crore versus Rs 181.5 crore (YoY)
Puravankara Projects Q1-Consolidated net profit down 60.1 percent at Rs 23.2 crore versus Rs 58.2 crore (YoY)-Consolidated total income down 2.7 percent at Rs 449.3 crore versus Rs 461.6 crore (YoY)
BEML Q1-Net loss at Rs 74.9 crore versus loss of Rs 95.5 crore (YoY)-Total income up 17.6 percent at Rs 590.2 crore versus Rs 501.7 crore (YoY)
Punj Lloyd Q1-Net loss at Rs 597.8 crore versus loss of Rs 363.9 crore (YoY)-Total income at Rs 657.3 crore versus Rs 1,113.8 crore (YoY)
MTNL Q1-Net loss at Rs 745 crore versus loss of Rs 733.2 crore (YoY)-Total income down 6.1 percent at Rs 803.6 crore versus Rs 856 crore (YoY)
Liberty Shoes Q1-Net profit up 3 percent at Rs 3.4 crore versus Rs 3.3 crore (YoY)-Total income up 7.8 percent at Rs 110 crore versus Rs 102 crore (YoY)
Manappuram Finance Q1-Consolidated net profit up 34.5 percent at Rs 59.3 crore versus Rs 44.1 crore (YoY)-Consolidated NII up 24.6 percent at Rs 303 crore versus Rs 243 crore (YoY)
Amtek Auto Q3-Net loss at Rs 157.6 crore versus profit of Rs 86 crore (YoY)-Total income down 18.4 percent at Rs 866.3 crore versus Rs 1,064.4 crore (YoY)
JMT Auto Q1-Net profit down 52.8 percent at Rs 1.7 crore versus Rs 3.6 crore (YoY)-Total income down 30.8 percent at Rs 84.2 crore versus Rs 121.6 crore (YoY)
Rolta India Q1-Net profit down 25.8 percent at Rs 166.8 crore versus Rs 224.9 crore (YoY)-Total income up 11.9 percent at Rs 448.3 crore versus Rs 400.5 crore (YoY)
Other stocks and sectors that are in news today:-Met Department says monsoon rainfall deficit widens to 10 percent-Lupin gets US FDA nod for birth control drug Bekyree-Adani Ports, Kerala to sign Vizhinjam project MoU today-HUL forays into tea restaurant business, opens tea house in Mumbai-Birla Corp to acquire Jogobera & Sonadih Cement business from Lafarge for Rs 5,000 crore-Pantaloon Retail plans capex of Rs 125 crore, to open 35 stores this fiscal-Government extends deadline for comments on net neutrality to August 20: PTI-Telecom Department asks telecom companies to file weekly update on call drops-Government gives environment & forest nods for MOIL’s Nagpur mine-Infosys Finacle & Payveris partner to bring industry-leading solutions to US community banks & credit unions
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!