Top 12 Stocks in Focus today
Reliance Communications Ltd: RComm has signed an agreement to merge its wireless business with smaller rival Aircel Ltd. The new entity will combine R-Com’s wireless business and Aircel’s operations in India.
Sun Pharmaceutical Industries Ltd: The pharma company said its buyback offer of 75 lakh equity shares will open on 22 September. The issue will close on 5 October.
Bayer, Monsanto: Bayer AG has won over US seeds firm Monsanto Co. with an improved takeover offer of around $66 billion, as per media reports.
SBI: The bank said it had raised $300 million (about Rs.2,000 crore) through the country’s first additional tier 1 (AT1) bond offering. The size of the Basel-III compliant bond was pruned from $500 million.
Tata Power: Tata Power on Wednesday announced that it has completed the acquisition of Welspun Renewables Energy and has appointed Chetan Tolia as CEO of the newly bought firm.
Ashok Leyland: The board of automobile component firm Hinduja Foundries Ltd has given its nod for amalgamating the company with Ashok Leyland subject to regulatory and shareholders approval of both the companies.
BEML: BEML Ltd’s standalone net loss widened to Rs 107.10 crore for the quarter ended June 30, 2016. The company had posted a net loss from ordinary activities after tax of Rs 68.10 crore in the year-ago period, the company said in a BSE filing.
ONGC: ONGC Videsh signed an agreement to raise stake in Russia’s Vanok oil field by 11% to 26 percent for about $930 million.
NBCC: NBCC (India) Ltd reported 16% increase in consolidated net profit to Rs.47.09 crore for the quarter ended June 30.
Gujarat NRE Coke Ltd: Gujarat NRE Coke Ltd’s standalone net loss widened to Rs.108.80 crore for the quarter ended June 30, 2016. The company had posted a net loss from ordinary activities after tax of Rs.60.66 crore in the year-ago period
IVRCL: IVRCL has posted a loss of Rs.151.85 crore for the first quarter ended June 30, 2016, as against a loss of Rs.189.65 crore for the corresponding quarter last year on a standalone basis.
MMTC: MMTC reported a net loss of Rs.7.01 crore for the first quarter ended June 30, 2016. The company had incurred a net loss of Rs.30.55 crore during the corresponding quarter of 2015-16.