Friday, 19 January 2018

Shares Of Adani Ports Gained Over 3.5 Percent Intraday As Investors Reacted

Shares of Adani Ports gained over 3.5 percent intraday as investors reacted positively to the December quarter performance.

The company reported a 19.51 percent jump in its consolidated profit at Rs 1,001 crore for the third quarter ended December 31, 2017. The logistics arm of Adani Group had clocked a consolidated profit of Rs 837.58 crore in the corresponding period last fiscal, it said in a BSE filing.

Brokerages were upbeat on the stock and believed that the stock was well placed for better moves ahead.

While maintaining Buy rating with target price of Rs 575, Citi said that the firm is one of our top picks in India infrastructure/logistics. Further, it said that the company reported well-rounded and strong third quarter earnings.

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Tata Steel Announced A Successful Dual Tranche Reg S Issuance Of USD

Tata Steel announced a successful dual tranche Reg S issuance of USD 1.3 billion of unsecured bonds in the international markets.

The issue comprises USD 300 million 4.45% unsecured bonds due on July 24, 2023 and USD 1 billion 5.45% unsecured bonds due on January 24, 2028 by Abja Investment Co Pte Ltd, a wholly owned subsidiary of Tata Steel incorporated in Singapore.

The bonds are rated BB- by S&P and will be listed on the Singapore Exchange.

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Thursday, 18 January 2018

Tata Sponge Iron Reported An Over Three-Fold Jump In Its Consolidated Net Profit

Tata Sponge Iron reported an over three-fold jump in its consolidated net profit at Rs 36 crore for the December 2017 quarter. Its revenue from sponge iron segment rose to Rs 199.30 crore from Rs 145.56 crore.

Talking about the company’s third quarter performance and the outlook going forward, Sanjay Pattnaik, MD, Tata Sponge said the company was on track to meet their FY18 sales guidance of 4.1 lakh tonnes.

He said for the third quarter they had volume growth of 22 percent and sales growth of 25 percent. The Q3FY18 sales volumes were at 1.09 lakh tonnes.

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Wednesday, 17 January 2018

Stocks In The News: Reliance Industries, Sun Pharma, TCS, Gail, BSE, Bajaj Finance, MCX

Sun Pharma
Sun Pharmaceutical Industries on Tuesday announced that its wholly owned subsidiaries have reached an agreement with Ironwood Pharmaceuticals, Inc. and Allergan plc to resolve the patent litigation.

ICICI Lombard

Leading private general insurer ICICI Lombard today reported a 5.20 percent year-on-year increase in net profit at Rs 231.76 crore for the December quarter.

Reliance Nippon
Reliance Nippon Life Asset Management reported 25 percent jump in profit after tax to Rs 130 crore for the December quarter of the current fiscal.

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Amber Enterprises, Which Raised Rs 179 Crore From Anchor Investors

Amber Enterprises, which raised Rs 179 crore from anchor investors yesterday, has opened its initial public offering for subscription.

Benchmark indices extended gains in morning, with the Sensex rising 102.33 points to 34,873.38 and the Nifty trading 22.70 points higher at 10,723.20.

The broader markets recovered from day's lows but still trading lower. The Nifty Midcap was down half a percent as about three shares declined for every share rising.

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Tuesday, 16 January 2018

The Rupee Extended Losses In Late Morning Trade

The rupee extended losses in late morning trade, dropping by 21 paise to 63.70 against the greenback in late morning deals on sustained dollar demand from importers and banks amid widening trade deficit.

The rupee came under pressure as trade deficit widened to three-year high at USD 14.88 billion in December,government data showed yesterday, imports surged nearly 21.1 per cent year-on-year to USD 41.90 billion last month while exports grew 12.4 per cent on-year to USD 27.03 billion.

The rupee opened lower at 63.60 per dollar from yesterday's closing level of 63.49 at the inter-bank foreign exchange today.

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Monday, 15 January 2018

Shares Of HDFC Gained Around 2 Percent Intraday On Monday

Shares of HDFC gained around 2 percent intraday on Monday as investors cheered the NBFC’s fundraising plan.

Over the weekend, it announced that the Board had approved fund raising worth Rs 11,301 crore by issuing 6.43 crore shares at Rs 1,726.05 per share to investors, including global private equity biggie GIC Singapore, KKR and Premji Invest.

Housing Development Finance Corporation or HDFC's committee of directors in a meeting held on Saturday approved to the "issuance of 6,43,29,882 equity shares if Rs 2 each of the Corporation on a preferential basis", HDFC said in a release to the stock exchanges on Saturday.

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