Tata Power, Bajaj Finance: Bajaj Finance, Tata Power, The Ramco Cements, IDFC First Bank, Jubilant Foodworks AptechNSE -1.95 %, Bajaj FinservNSE -1.76 %, Escorts and GCPL are some of the companies which will report their December quarter earnings today.
TCS: Tata Sons has started the process of arranging funds for paying off the Rs 13,823-crore AGR dues of Tata Teleservices, said top officials close to the development. It will most likely bank on group flagship TCS for sourcing funds in case it has to pay the dues immediately, an official privy to the matter said.
Bharti Airtel: The $3 billion (Rs 21,240 crore) fundraising exercise has eliminated concerns over viability as it’s now better equipped to pay statutory dues, Bharti unit Airtel Africa said in its December quarter earnings report.
ITI: State-owned ITI reduced the price band for its ongoing follow-on public offer (FPO) and extended the issue period by three days till January 31. The FPO, which opened on Friday, was initially scheduled to close on Tuesday.
Allcargo Logistics, Gati: The largest player in the private sector logistics space, Allcargo Logistics, has acquired an additional 7.5 per cent stake in Gati, becoming the single largest shareholder in the express logistics company with 20.8 per cent stake.
DHFL: The RBI-appointed administrators of DHFL invited bids from interested parties, which are keen to own the company’s different assets.
Vodafone Idea: UTI Mutual Fund, Nippon India Mutual Fund and Aditya Birla Sun Life Mutual Fund have decided not to segregate the debt securities of Vodafone Idea in schemes that hold the bonds after ratings company Crisil downgraded the outstanding debt of the telco to below-investment grade.
Mahindra & Mahindra Financial Services: The company reported 16 per cent rise in its consolidated net profit to Rs 475 crore in the third quarter ended December 31.
YES Bank, Reliance Power: YES BankNSE 1.02 % offloaded shares worth over Rs 5.7 crore in Reliance Power through an open market transaction. According to bulk deal data on the National Stock Exchange (NSE), a total of 3,02,59,855 shares, representing 1.07 per cent of the total shares of Reliance Power, were sold by the private lender.
KEI Industries: The manufacturer of wires and cables has raised Rs 500 crore from institutional investors such as L&T Mutual Fund, DSP MF and Sundaram MF, said people with knowledge of the development. The company’s issue was oversubscribed with bids of more than Rs 900 crore coming in, sources said.
Fertiliser stocks: The chemicals and fertilisers ministry has sought more funds for fertiliser subsidy, asking for a 20% increase in the budgetary allocation to Rs 1 lakh crore.
Chemical stocks: India has initiated a probe into an alleged dumping of a chemical used in dyes and pharma industries from China following a complaint from a domestic player. Gujarat Narmada Valley Fertilizers and Chemicals Ltd has filed an application before the Directorate General of Trade Remedies (DGTR) for antidumping investigation on imports of Aniline originating in or exported from China.
Infibeam Avenues: The company said its consolidated net profit stood at Rs 25.9 crore in the December 2019 quarter. The company had reported a net profit of Rs 30.9 crore in the year-ago period, Infibeam Avenues said in a regulatory filing.
Central Bank of India: The bank reported a standalone net profit of Rs 155 crore for December quarter 2019-20 helped by better recoveries, higher income and cost reduction. The lender, which is under the Reserve Bank’s prompt corrective action (PCA) framework, had reported a net loss of Rs 718 crore for the year-ago period.
Godfrey Phillips: Cigarette maker Godfrey Phillips denied reports that its promoter KK Modi group was planning to sale its stake in the company evoking a strong rebuttal from Lalit Modi, who called the company “blatant liars”.
JK Lakshmi Cement: The company reported a multifold jump in consolidated net profit to Rs 50.84 crore for December quarter 2019-20, helped by cost reductions. The company had posted a profit of Rs 3.22 crore in October-December period a year ago, it said in a regulatory filing.
Tube Investments: Murugappa Group company Tube Investments of India Ltd on Tuesday clocked standalone Profit After Tax at Rs 78.27 crore for the October-December 31, 2019 quarter.
Mastek: IT firm Mastek on Tuesday said it has posted a 1.9 per cent decline in net profit to Rs 26 crore in December 2019 quarter. The company had registered a net profit of Rs 26.5 crore in the year-ago period, Mastek said in a statement.
NTPC: Togo has appointed power giant NTPC as its project management consultant (PMC) for about 300 MW of solar power projects in the West African nation, the Power Ministry said on Tuesday.
