TCS: The IT major will announce its September quarter earnings on Thursday. Brokerages expect EBIT margin of the company to improve in Q2 FY19 because rupee depreciation and lack of impact of salary hike in Q1. Net profit is seen rising 8.02 per cent QoQ to Rs 7,929.30 crore, sales is seen rising 6.54 per cent to 36,503.70.
Zee Entertainment: Subhash Chandra-promoted Zee Entertainment Enterprises (ZEE) reported a 24.9 per cent jump in operating revenue for the quarter to September. The company, however, said expenses also grew 19.2 per cent year-on-year to Rs 1,300 crore. A tax expense of Rs 262.4 crore, against Rs 148.9 crore in the previous fiscal year, dragged down ZEE’s consolidated net profit 38.2 per cent to Rs 386.7 crore.
Dilip Buildcon: The company has been declared L-1 bidder for a new OB removal contract mining project valued at Rs 1,000.40 crore by subsidiary of Coal India, the company said in a filing to BSE.
Uttam Galva Steels: Thwe steel maker has reported a net loss of Rs 580.58 crore for September on high interest outgo and a plunge in revenues. The company had posted a net loss of Rs 213.26 crore in the year-ago quarter..
Cadila Healthcare: Zydus Cadila Group has mounted an aggressive Rs 4,500 crore offer for Kraft Heinz’s consumer brand business in India, outbidding Coca-Cola for a portfolio that includes children’s milk drink Complan, said multiple sources aware of the developments.
PTC India: PTC India, supplying 290 MW power to Bangladesh, has signed two new Agreements for supplying 200 MW power to Bangladesh on short term and long-term basis to a total for 15 years
Voda Idea: Vodafone Idea (VIL), the country’s top telecom operator, has moved the telecom tribunal to recover bank guarantees worth Rs 3,322.44 crore it had paid ‘under protest’ to get the government’s nod for the merger of Vodafone India and Idea Cellular.
Ujjivan Small Finance Bank: The company has begun its succession planning because its founder and chief executive Samit Ghosh is scheduled to retire in November next year. The bank has shortlisted half a dozen candidates for the CEO’s position and is planning to submit a list of three candidates to the Reserve Bank of India by December for its approval.
Oil India: The company toold stock exchanges that it has made two hydrocarbon discoveries in Dibrugarh & Tinsukia district in the Upper Assam Basin during the second quarter, in the wells West Lohali -1 and Dhakuwal-l respectively.
Bharat Forge, NTPC: State-owned NTPC said its joint venture with Bharat Forge has initiated a voluntary liquidation process under Insolvency and Bankruptcy Code (IBC). “BF-NTPC Energy Systems (BF-NTPC), a 49:51 JV between NTPC and Bharat Forge, has initiated a voluntary liquidation process under IBC, 2016 in its extraordinary general meeting held on October 9, 2018
Bharat Electronics: IIFL has resumed coverage on Bharat Electronics with an add rating and target price of Rs 86. The stock looks attractive at 12 times FY20 EPS and 2 times P/BV, after 55 per cent year-to-date correction in the stock
Bandhan Bank: Private sector lender Bandhan Bank recorded a 47 per cent growth in net profit for the quarter ended September at Rs 488 crore, or Rs 4.08 per share, as advances to micro finance companies rose more than 50 per cent. The bank, which began operations in 2014, recorded a jump in net interest margin to 10.3 per cent from 9.3 per cent, while net interest income rose 55 per cent to Rs 1,078 crore.
MCX: Hedging in gold on MCX has picked up steam following volatility in the market due to a steadily falling rupee against the dollar. Open interest in gold on MCX has touched a two-year high to 15 tonnes on October 5, which indicates that the trade is now keen on hedging in this volatile market.