Stocks in the news: YES Bank, Wipro, Care Ratings, ACC and Allahabad Bank
India's fourth-largest software company reported 12.58% YoY rise in net profit.
ACC, Colgate-Palmolive: Cyient, DB Corp, Larsen & Toubro Infotech, ACC, Colgate-Palmolive, Rallis India, Sterlite Technologies and Sasken Technologies are a few companies which will announce June quarter results today.
Wipro: India's fourth-largest software company reported 12.58 per cent year-on-year (YoY) rise in net profit at Rs 2,387.60 crore for the quarter ended June 30. The figure came in line with an analyst estimate of Rs 2,380 crore projected in an ETNow poll.
YES Bank: The lender said its profit plunged 91 per cent on a yearly basis to Rs 113.80 crore in the June quarter, dented by one-off impact from mark to market provisions of Rs 1,109 crore.
Mindtree: L&T group chairman AM Naik has been appointed its non-executive chairman. In the first quarter of FY20, Mindtree’s grew revenue 1.1% sequentially in constant currency to $264.2 million.
Punjab & Sind Bank: The state-owned Punjab & Sind Bank reported over Rs 238 crore fraud by Bhushan Power and Steel, a third such instance after similar disclosures made by PNB and Allahabad Bank recently.
Care Ratings: The rating company has sent its managing director and CEO on leave after an anonymous complaint was filed against him at the Securities and Exchange Board of India (Sebi).
Allahabad Bank: The bank reported a fraud of Rs 688.27 crore by a Ludhiana-based textile company. A few days back the bank had reported a fraud of over Rs 1,775 crore by Bhushan Power and Steel Ltd.
GVK Power, Taj GVK Hotels & Resorts: GIC is in preliminary talks with GVK Power and Infra to acquire its stake in Taj-GVK Hotels and Resorts as the sovereign investment vehicle looks to consolidate its position in Indian realty.
Reliance Industries: British energy giant BP plc and its partner Reliance Industries (RIL) will invest $5 billion in bringing to production three sets of natural gas fields in the Krishna Godavari (KG-D6) basin block by 2022. BP's CEO (upstream) Bernard Looney said the partners are also discussing the development of natural gas found in Mahanadi basin, off the Odisha coast.
Jaypee Infratech: The National Company Law Appellate Tribunal (NCLAT) Wednesday directed IDBI Bank, the lead lender of debt-ridden Jaypee Infratech, to file an affidavit listing out new terms and conditions if a fresh bidding process is conducted.
- Madhya Bharat Agro Products Limited: Ostwal Phoschem (India) Limited has bought 30,000 shares through Market Purchase from Jul 11, 2019 to Jul 15, 2019.
- Axis Bank Limited: Life Insurance Corporation of India has sold 1,884,398 shares through Market Sale from Jul 3, 2019 to Jul 15, 2019.
Bulk and Block Deals :
|Blg Tickers||Date||Company Name||Acquirer/Seller||Buy /Sell||Qty Traded||Price|
|MCX||17-Jul-19||Multi Commodity Exchange of India Limited||Crossland Trading Co||Sell||6,281||860.56|
|SCHI||17-Jul-19||Sudarshan Chemical Industries Ltd||Amansa Holdings Private Limited||Buy||963,008||315.00|
|TELX||17-Jul-19||Tata Elxsi Ltd||Avendus Enhanced Return Fund||Sell||357,590||755.68|
|TELX||17-Jul-19||Tata Elxsi Ltd||Crossland Trading Co||Sell||12,266||771.79|
|TOYAM||17-Jul-19||Toyam Industries Limited||Manish Rameshbhai Vyas||Sell||1,200,000||4.58|