Top stocks in focus today: SBI, TCS, Shree Cement, Varun Beverages
State Bank of India plans to raise Rs20,000cr through long-term bonds to fund affordable housing.
Telecom stocks in focus today. The number of telecom subscribers dwindled by 1.58cr to 118.5cr in November, even as Reliance Jio continued to lead in customer addition with over 15cr subscribers, as per a report by TRAI.
TCS reported a net profit of Rs6,531cr for the quarter ended December, while the dollar revenue rose 1% on a qoq basis to $ 4,787mn.
Shree Cement said it had agreed to acquire a 92.83% stake in Union Cement Co. PSC, a United Arab Emirates-based firm, for an enterprise value of Rs1,945cr.
The National Company Law Tribunal’s Kolkata chapter has ordered liquidation of Gujarat NRE Coke that has failed to resolve the Rs4,900cr default case.
Tata Global Beverage is looking to divest its 41% stake in Amalgamated Plantations Pvt. Ltd — India’s second largest producer and supplier of tea with estates in Assam and the Dooars region of West Bengal, as per media reports.
Indiabulls Real Estate announced that it will acquire a prime commercial building in Gurugram having a leasable area of 2.5 lakh square feet for an undisclosed amount.
Varun Beverages has concluded the acquisition of PepsiCo India’s previously franchised rights for the state of Chhattisgarh.
MEP Infra has achieved the milestone one for the project of four lane standalone ring road/ bypasses for Nagpur City, Package-II . The Authority has paid the first Milestone payment of 20% of the physical progress for the project on 11th January, 2018.
Dredging Corporation wins’ maintenance dredging order from Cochin Port worth Rs88cr.