Top 12 Stocks in Focus Today: Yes Bank, SAIL, Jindal Steel
Jindal Steel and Power: JSPL said its consolidated net loss doubled to Rs.1,082.15 crore for the June quarter.
SAIL: Steel Authority of India reported widening of its stand-alone net loss to Rs.534.92 crore for the quarter ended 30 June 2016. The state-run company had posted a net loss of Rs.248.24 crore in the year-ago period.
YES Bank: Yes Bank scrapped its $1 billion share sale less than 24 hours after launch as the share price collapsed due to poor investor appetite and the management blamed “extreme volatility” and poor advice on regulations by investment banks Goldman Sachs, Nomura and CLSA, as per media reports.
M&M: Mahindra and Mahindra Ltd has struck a deal with ANI Technologies Ltd that operates ride-hailing service Ola to finance vehicles for more than 40,000 of its drivers by 2018. The alliance is worth Rs.2,600 crore.
ONGC: Oil and Natural Gas Corp is in talks with Gujarat State Petroleum Corp for acquiring a stake in its gas field in the Krishna-Godavari Basin, D.K. Sarraf said.
Crompton Greaves Consumer Electricals: The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100 per cent of the paid up capital of Crompton Greaves Consumer Electricals Limited under the Portfolio Investment Scheme (PIS).
Indian Bank: S&P Global Ratings said it has affirmed “BBB-” long-term rating on Indian Bank with a stable outlook on the back of the PSU lender’s strong capital base and funding ability.
Apollo Tyres: Apollo Tyres said it has inked a global sponsorship agreement with Manchester United Football Club for the next 3 years.
Britannia Industries: Britannia Industries has appealed before a division bench of the Delhi High Court, challenging the injunction order passed by its single bench on the biscuit packaging dispute with ITC Ltd, as per media reports.
Motherson Sumi: Motherson Sumi has launched a qualified institutional placement (QIP) through which it plans to raise Rs.1,500-2,000 crore, said a media report. The QIP will be priced at Rs.317-320 per share.
Eros International: Eros International Media reported 11% increase in its consolidated net profit to Rs.58.87 crore for the first quarter ended June 30.
Essar Shipping: Essar Shipping reported a standalone loss of Rs.50.45 crore for the quarter ended June 30, 2016. The company’s loss in the corresponding quarter of previous fiscal stood at Rs.45.94 crore, Essar Shipping Ltd said in a filing to BSE.