Top Twelve Stocks in Focus on Thursday, 30 August 2016
DLF: DLF has reported an 82% increase in its consolidated net profit at Rs.283 crore for the quarter ended June 2016 compared to a net profit of Rs.155 crore a year ago on the back of one time income from the sale of its cinema exhibition business DT Cinemas.
Zee Entertainment: Zee Entertainment is looking to sell its sports channel Ten Sports for an undisclosed amount. Without naming the prospective buyers and sharing any details about it, ZEEL informed BSE that its discussions are in the advance stage.
Bharti Airtel Ltd: The telecom company cut data tariffs for some customers by as much as 80%, as the company prepares for the launch of Reliance Jio.
Coal India : Coal India said it has fixed 9 September as the record date for buyback of its shares. Shareholders have approved buyback of 10.89 crore shares at a price of Rs.335 apiece, aggregating to Rs.3,650 crore.
Gujarat Mineral Development Corporation Ltd: The company reported a 56% growth in profit for the first quarter of financial year 2016-17.
MOIL: MOIL reported a 48% fall in standalone net profit at Rs.47.15 crore for the quarter ended June 30, due to lower offtake of manganese ore and selling price pressures.
Omkar Speciality Chemicals: The company said it had obtained a patent related to the ‘process for manufacturing 2-hydroxy-3,5-diiodobenzoic acid’.
IOC: The company has posted a net profit of Rs.8269 crore for the quarter ended June 30, 2016 as compared to Rs.6590.8 crore for the quarter ended June 30, 2015. Indian Oil Corp., also boosting its liquefied natural gas business, is lifting purchases of the fuel to take advantage of a price plunge amid a glut.
M&M: Mahindra and Mahindra Ltd’s hopes of recovering market share in utility vehicle segment remain elusive as most of its new models introduced over the past 12 months have failed to live up to volume expectations, as per media reports.
Ashoka Buildcon: Ashoka Buildcon reported a 32.7% decline in its standalone net profit at Rs 30.8 crore for the quarter ended June 2016.
Dani Ent: Clearing another legal hurdle for the Adani Group, the Federal Court of Australia on Monday dismissed climate concerns surrounding Gautam Adani’s Carmichael coal mine project and found the government’s decision to approve the controversial venture to be lawful.
Vedanta: The company has maintained production guidance of its aluminium arm at 1.2 million tonnes per annum (MTPA) this fiscal even as the firm faced a power shutdown this month at one of its plants.