Here are stocks that are in news today:
Results Today: Hindustan Unilever (HUL), Zee Entertainment, TV18 Broadcast, Network18 Media, TTK Prestige and Goa Carbon
TCS Q2-Net profit up 6.1 percent at Rs 6,055.2 crore (QoQ)-Dollar revenue up 3 percent at USD 4156 million (QoQ)-Rupee revenue up 5.8 percent at Rs 27,165 crore (QoQ)-EBIT up 9 percent at Rs 7,353.6 crore (QoQ)-EBIT margin at 27.1 percent versus 26.3 percent (QoQ)-Constant currency growth at 3.9 percent-Utilisation-excluding trainees at 86 percent-Utilisation-including trainees at 82.3 percent-Volume growth at 4.9 percentTCS says-To pay second interim dividend of Rs 5.50/share-Employee attrition (LTM) at 16.2 percent including business process services-USD 100million+ customers up by 3 & USD 10million+ customers up by 6 in Q2-Gross employee addition in Q2 at 25,186
TCS CEO Natarajan Chandrasekaran (in press conference) says-Growth in Q2 was led by BFS, retail, life sciences, travel & hospitality-Have delivered accelerated growth in constant currency terms for Q2-Continue to take new IP-led products & platforms to market successfully-Over 30,000 employees have already been trained in new technologies-North America & UK have done exceedingly well-Services revenue have been broad-based-Digital has jumped to about 13 percent of company's revenue-Have delivered secular growth-Saw recovery in Latin America in Q2; softness in Diligenta & Japan continue-Energy exposure is very low-Order book in Q2 is the highest ever-Number of digital orders increased significantly in Q2-Attrition is lower in absolute numbers-Attrition has been on declining trend since July-Expect attrition to come down in Q3 & Q4-Forex fluctuations benefited margins by 68 bps-No sequential deterioration or structural breakdown in pricing-Pricing pressure is a given across industries-Realisation drop of 1 percent primarily due to geography mix
TCS CEO Natarajan Chandrasekaran to CNBC-TV18:-H2 will always be slower than H1-Q3 to be impacted by furloughs & fewer working days-No indications as of now that Q3FY16 will be different from Q3FY15-Order book in Q2 30 percent higher than best ever order book quarter-Growth has accelerated from Q1FY16-Growth delivered by company has been at odds with market expectations-Can not complain about 4.9 percent volume growth-Bullish on opportunities for the industry-Second consecutive quarter of USD 100 million incremental addition to revenues-Majority of the deal wins were in the transformation business-Decline in realisation is due to geographical mix-Do not see any pricing pressure-Have been exceeding hiring targets for 3 years-Would like attrition rate to come down further-Diligenta & Japan will be weak throughout the year-Exceeding FY16 hiring target as demand has picked up-Telecom to remain muted, but do not expect deceleration-Growth to sustain in Latin America-Have a very strong order pipeline & client metrics-Digital is fundamentally changing every industry
Info Edge transfers shares worth Rs 101.3 crore in Policybazaar to arm MakeSense TechInfo Edge says-Temasek’s arm MacRitchie to buy 49.9 percent stake in MakeSense for Rs 134.1 crore-MakeSense will use Rs 101.3 crore to retire its payable to company-Company will own 50.01 percent in MakeSense & Makesense will hold 19.65 percent of Policybazaar
Bank Of Baroda Case: Enforcement Directorate arrests 4 people in Rs 6,000 crore alleged scamEnforcement Directorate says-Investigations have revealed there is no loss to the bank-Trade based money laundering unearthed-Bank has gained due to increase in business-Total amount deposited in 59 accounts is Rs 5,151 crore-Rs 343 crore of Rs 5,151 crore has been deposited in cash-Further investigations are under progress
Welspun Renewables receives another round of funding of USD 617 millionWelspun Renewables says-Investment of USD 617 million through combination of equity & debt infusion by promoters, investors-GE extends partnership with company with 2nd round of funding-USD 617 million generated via USD 405 million debt, USD 165 million in equity & USD 47 million in line of credit-Committed to set up 5 GW capacities, 1 GW to be commissioned within FY16
Directorate General of Anti-Dumping-Recommends anti-dumping duty on cold rolled stainless steel of 300 series-Recommends anti-dumping duty on cold rolled stainless steel for 5 years-Duty to be imposed on stainless steel products imported from China, Korea-Duty to be imposed on stainless steel products imported from Thailand, South Africa, EU & USAlert: Earlier anti-dumping duty on cold rolled stainless steel lapsed on April 21, 2014-Recommendation of anti-dumping duty positive for Jindal Stainless, SAIL
Coffee Day Enterprises-Allots 1.04 crore shares to 17 anchor investors at Rs 322/Share-Raises Rs 334.27 crore from share sale to 17 anchor investors-IPO opens today and will close on October 16-Price band Rs 316-328/share, issue size Rs 1,150 crore
New rules to boost India shipping fleet; may dent foreign shippers: Reuters sources-Government wants state firms to give 50 percent of trade to local shippers-Freight worth billions of dollars likely to shift to Indian companies
Other stocks and sectors that are in news today:-Indiabulls Real Estate looking to sell 40 percent in London Property: ET (eyes Rs 1,000 crore from stake sale)-Taro Pharma (Subsidiary of Sun Pharma) acquires Canadian company Zalicus: ET-Videocon looking to split loss making telecom business into 6 entities: ET-IVRCL to get new owners as banks plan to pick up further 8.7 percent of equity capital and invoke SDR: FE-Cairn India to exit its Sri Lankan gas blocks: FE-NALCO gets allocation of Potangi bauxite mine: FE-IDBI Bank may face pressure to redeem overseas bonds: ET-Bhagyanagar solar business to be merged with Surana Telecom: BL-Reliance Power appoints N Venugopala Rao as CEO-Era Infra bags order worth Rs 177.8 crore for rural electrification from government-Star Ferro & Cement says subsidiary enters into production arrangement with a grinding unit in West Bengal-Greenply Industries to consider stock split in ratio of 1:5 on October 28-Maruti Suzuki opens bookings for its premium hatchback Baleno-Government appoints Alkesh Sharma as MD & CEO of Delhi-Mumbai Industrial Corridor Development-NHPC says to award 50 MW solar power EPC contract in Tamil Nadu-Future Retail to issue NCDs worth Rs 100 crore on private placement basis-Rajasthan government signs 27 MoUs for Rs 12,478 crore investment in housing & urban development projects-Siemens India bags order worth Rs 97 crore from NTPC-Zee Media Corp says Ashish Kirpal Pandit steps down as executive director & CEO-Cyient says wholly owned subsidiary Cyient Europe incorporates arm Cyient SRO-Veto Switchgears & Cables says company’s newly owned subsidiary has been incorporated in Dubai with a name Veto OverseasDisclosure: Network 18 (and TV18 Broadcast), which publishes moneycontrol.com, is now part of the Reliance Group.
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