Stocks in news: Sun Pharma, Idea, Pipavav, SpiceJet, Sanofi

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Here are stocks that are in news today:

Aurobindo Pharma-US FDA raises issues over quality management of co during inspection of its Unit 12 site-Company to file remediation report: ET

Tata Power’s Indonesia mine sale hits road block-Falling coal prices hits USD 500 million deal: BS

Red FM case:-Delhi HC asks government to consider postponing phase-III FM auctions-Government may reply to Delhi HC today on possible postponement of FM auctionsAlert:  Phase-III FM auctions slated to begin on July 27Delhi HC observes:-No clarity on what is deemed as a fit case for granting security nod-Concept of security clearance is vague, arbitrary & prone to misuse

Phase-III FM auction: Radio Mirchi moves Delhi HC, pleads against conditional participation of Red FM

Bharti Airtel says-No plans to exit Africa; will continue to invest & build a profitable business-Revenue of 4 African units that may be sold to Orange is USD 730 million-4 units that may be sold to Orange contribute 16 percent to our African business-Will use the sale proceeds from Orange to pare debt

Pipavav Defence signs agreement with Russian company Zvyozdochka for refits & life certification of submarines In India-Pipavav Defence proposes to execute the program under a joint venture, with 51 percent stakePipavav Defence says-Indicative value of work proposed to be undertaken by the proposed JV is approximately Rs 11,000 crore-Russian company Zvyozdochka will provide technical assistance to the JV

Warburg Pincus invests Rs 1,800 crore in Piramal Realty-Warburg Pincus buys minority stake in Piramal Realty

Delhi Court summons SpiceJet, Kalanithi Maran as accused in tax evasion case-I-T department says SpiceJet, Kalanithi Maran failed to deposit tax deducted at source (TDS): PTI

Finance ministry official says-RBI Governor Raghuram Rajan discussed timing of capital infusion in PSU Banks with Finance Minister Arun Jaitley-Governor Rajan also discussed proposed Public Debt Management Agency (PDMA), monetary panel with FM-Governor Rajan gave presentation on Financial Sector Legislative Reforms Committee (FSLRC) suggestions to FM Jaitley

Bharati Shipyard says-Company has become a sick industrial company-Edelweiss ARC assisting company in revival via restructuring & additional lending-Company had filed reference with Board For Industrial & Financial Restructuring-Company's reference permitted & registered by BIFR under section 15(1) of Sick Industrial Companies (Special Provisions) Act (SICA)

MoS Aviation says-Government not considering mechanism to curb predatory airfares-Airfares not regulated by government as they are determined by interplay of market forces

Vedanta: Sources-Crash of aluminium prices at London Metal Exchange has made company’s smelters economically unviable-Imports from China, West Asia have made company's smelters economically unviable-Continue to seek access to power, bauxite, coal & refining capacity approvals to mitigate weak markets-May downscale operations if prices fall further

HDFC Bank says-Expect interest rates to come down going forward-Made floating provisions, bank not showing signs of stress-Saw some slippages in farm loans in Q1, levels not alarming-Semi urban rural areas have proved to be a good bet for the bank-Bank has the lowest NPAs in industry-Loans to MSME sector at 15 percent of total loans-Have not seen any stress on asset quality-Provisions have gone up in Q1 largely due to floating provisions-Specific provisions for the bank have not shot up substantially-Do not foresee any stress in asset quality in going forward-Expect interest rates to go down by 50-75 bps by year-end-Very positive about future growth rate of bank-India is on cusp of good GDP growth as govt is taking positive steps-There was no sale to ARCs in Q1

Government:-Cabinet approves interest subvention for farmers-Extends modified incentive package for telecom

Cabinet-Approves proposal to allow bulk exports of rice bran oil-Approves proposal to remove limit on quantum of organic edible oil exports-Approves proposal to revise cost of panned 1,200 MW power project Bhutan-Approves proposal to raise spending on Bhutan power project to Rs 9,375 crore

Cairn India Q1-Consolidated net profit at Rs 835 crore versus loss of Rs 241 crore (QoQ)-Consolidated total income down 1.9 percent at Rs 2,627 crore versus Rs 2,677 crore (QoQ)-Consolidated EBITDA up 63.7 percent at Rs 1,290 crore versus Rs 788 crore (QoQ)-Consolidated EBITDA margin at 49.1 percent versus 29.4 percent (QoQ)Alert: Cairn India Q4FY15 had one-off impairment hit of Rs 505 crore-Consolidated tax expenses down 68.8 percent at Rs 140.8 crore versus Rs 451.5 crore (QoQ)-Consolidated other income up 6.7 percent at Rs 381.6 crore versus Rs 357.6 crore (QoQ)-Consolidated forex gain at Rs 182 crore versus forex loss of Rs 168.3 crore (QoQ)Cairn India says-Company will maintain Rajasthan production in current year at FY15 levels-Cash & cash equivalents at Rs 16,467 crore-Exploration write off for Q1 at Rs 82 croreIdea Cellular Q1-Consolidated net profit down 1.2 percent at Rs 931 crore versus Rs 942 crore (QoQ)-Consolidated revenue up 4.5 percent at Rs 8,798.3 crore versus Rs 8,422.5 crore (QoQ)-Consolidated EBITDA up 5.3 percent at Rs 3,228.4 crore versus Rs 3,064.5 crore (QoQ)-Consolidated EBITDA margin at 36.7 percent versus 36.4 percent (QoQ)-Volume growth at 195.8 billion minutes versus 185 billion minutes (QoQ)-Minutes of usage at 408 minutes versus 400 minutes (QoQ)-Average revenue per user at Rs 182 versus Rs 179 (QoQ)-Voice realisation at 32.90p versus 32.80p (QoQ)-Average realisation per minute at 45.50p versus 44.80p (QoQ)-Idea Cellular re-appoints Himanshu Kapania as MD

Idea Cellular says-Incroreease in services tax to 14 percent impacted company’s Q1FY16 numbers-Q1 results not comparable to Q4FY15 due to change in IUC norms-Average revenue per user has been steady in Q1FY16-Company's 3G subscriber base has grown by over 90 percent over last 1 year-Slated to launch Kolkata 3G services by the end of 2015-Voice rate realisation fell sharply by 11.2 percent to 32.9p/min (YoY)-Will roll out 4G services by 2016 in a phased manner-To increase FY16 capex by Rs 1,000 crore to Rs 6,000-6,500 crore to accelerate investments in 4G

Eicher Motors Q2-Consolidated net profit up 40.9 percent at Rs 221.8 crore versus Rs 157.4 crore (YoY)-Consolidated total income up 30 percent at Rs 2,916.7 crore versus Rs 2,245.4 crore (YoY)-Consolidated EBITDA up 51.6 percent at Rs 432 crore versus Rs 285 crore (YoY)-Consolidated EBITDA margin at 14.8 percent versus 12.7 percent (YoY)-Standalone profit up 38 percent at Rs 183.5 crore versus Rs 133.2 crore (YoY)-Standalone revenue up 47 percent at Rs 1,096.8 crore versus Rs 746.2 crore (YoY)-Standalone EBITDA up 55.8 percent at Rs 290 crore versus Rs 186.1 crore (YoY)-Standalone EBITDA margin at 26.4 percent versus 24.9 percent (YoY)

Eicher Motors says-Board approves amendment to ‘object clause’ of memorandum of association-Have set up 2 arms in Brazil & US to expand operations

Sanofi India Q2-Net profit up 11.6 percent at Rs 64.2 crore versus Rs 57.5 crore (YoY)-Total income up 8.7 percent at Rs 550 crore versus Rs 505.8 crore (YoY)Sanofi India says-To sell company's commercial property at Andheri East, Mumbai for Rs 111 crore-Sale of Andheri East, Mumbai property to be completed by Q3

Rane Engine Valve Q1-Net profit at Rs 15.1 crore versus loss of Rs 11 lakh (YoY)-Total income up 20.9 percent at Rs 86.8 crore versus Rs 71.8 crore (YoY)

Supreme Petro Q1-Net profit at Rs 63.4 crore versus Rs 7.7 crore (YoY)-Total Income Down 18.6 percent At Rs 679.4 Crore Versus Rs 834.9 Crore (YoY)

SKF India Q2-Net profit down 14 percent at Rs 46.5 crore versus Rs 54.1 crore (YoY)-Total income up 1.5 percent at Rs 610.3 crore versus Rs 601.4 crore (YoY)

MPS Q1-Consolidated net profit up 13.6 percent at Rs 14.4 crore versus Rs 12.6 crore (QoQ)-Consolidated total income up 9.8 percent at Rs 60.4 crore versus Rs 55 crore (QoQ)Tata Sponge Q1-Net profit down 84 percent at Rs 7.1 crore versus Rs 44.3 crore (YoY)-Total income down 30.1 percent at Rs 141.9 crore versus Rs 203.1 crore (YoY)-Tax expense down 87.4 percent at Rs 2.6 crore versus Rs 20.6 crore (YoY)

Other stocks and sectors that are in news today:-Sun Pharma may shed part of Ranbaxy business to push growth: ToI-Indian Hotels to open 14 new properties abroad this year: BS-Raymond targets new categories in consumer business rejig: ET-Vedanta Aluminium may go in for job cuts: FE-Monsanto to invest Rs 100 crore on veggie research in India: FE-Bombay HC to continue hearing Nestle versus FSSAI case today-MCX, CME Group join hands to set up joint working group