1. Stocks that remained in news today: Shriram EPC, Mastek, Swan Energy and more

Stocks that remained in news today: Shriram EPC, Mastek, Swan Energy and more

The BSE Sensex reclaimed the psychological level of 28,000 on Tuesday and closed 520.91 points higher at 28,050.88. The Nifty 50 index settled 157.50 points higher at 8,677.90.

By: | New Delhi | Updated: October 18, 2016 3:59 PM
BSE Sensex, NSE Nifty Mastek reported nearly 3-fold rise in its consolidated net profit at Rs 7.65 crore for the quarter ended September 2016 against Rs 2.66 crore in the corresponding quarter a year ago.

The BSE Sensex reclaimed the psychological level of 28,000 on Tuesday and closed 520.91 points higher at 28,050.88. The Nifty 50 index settled 157.50 points higher at 8,677.90.

Mastek: The company reported nearly 3-fold rise in its consolidated net profit at Rs 7.65 crore for the quarter ended September 2016 against Rs 2.66 crore in the corresponding quarter a year ago.

Coal India: The company is reportedly planning to put up more coal for e-auctions. Even as global coking coal – also known as metallurgical coal – prices crossed $190-a-tonne mark recently, CIL decided not to increase its prices, to remain competitive and become a substitute to imports.

Zensar Technologies: The company reported 24.49 per cent fall in consolidated net profit at Rs 72.08 crore for the quarter ended September 30, 2016 against Rs 95.46 crore in the corresponding quarter a year ago.

Shriram EPC: Shriram EPC has been awarded contract of over Rs 61 crore from K.U.W.S. & D. Board (KUWSD), Bengaluru for providing water supply scheme to Robertsonpet (KGF) City under AMRUT. The company will establish reverse osmosis filters and accessories in all wards in the city, provide distribution network from water treatment plant and maintenance for five years. The project is to be executed over a period of 36 months.

Aarti Industries: The company has approved buyback of 12 lakh shares at a price of Rs 800 per share.

Axis Bank: The private sector lender has cut the marginal cost of fund based lending rate by 0.05 per cent across all tenors.

Bharat Financial Inclusion: Bharat Financial Inclusion has issued Commercial Papers of an aggregate amount of Rs 100 crore on October 17, 2016, which have been rated ‘A1+’ by a leading rating agency. The aggregate Commercial Papers outstanding as on date is Rs 450 crore. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.

OM Metals Infraprojects: The company has resumed construction of Residential project Palacia at A 2 Prithviraj Road near Statute Circle Jaipur in Rajasthan. The company has resumed the construction after the judgement of JDA tribunal which in its verdict ordered that all approvals and maps of the project approved by JDA are as per policies/ bye laws and within legal framework.

Punjab National Bank: The bank is offering home loans and auto loans at attractive rates of 9.3-9.8 per cent beginning this month to government employees in order to cash in on the 7th Pay Commission. Permanent employees of central and state governments, defence personnel and paramilitary forces will be able to avail of the benefits of lower rates under the PNB Pride scheme. Besides, the bank will offer loans to these segments without any processing or upfront fee and no documentation charges will be levied on them.

JSW Steel: JSW Steel has decided to partner a consortium of bidders led by state-run Cassa Deposit e Prestiti, for the Ilva plant. This step has been taken nearly two years after shelving plans to acquire Italy’s two biggest steel plants, Ilva and Luchhni SpA by the company.

Samruddhi Realty: The company is planning to raise Rs 75 crore through issuance of non-convertible debentures (NCDs) to Essel Finance. In this regard, the company has received its board’s approval to issue non-convertible debentures of the face value of Rs 1,00,000 to Essel Finance advisors and managers LLP. The company’s board further decided not to list these new debentures on any stock exchange and therefore these will be unlisted debentures.

Suven Life Sciences: Drug firm Suven Life Sciences has been granted one product patent each by Europe and Israel for a drug used in the treatment of neuro-degenerative diseases.

Swan Energy: Swan Energy said it has recieved shareholders’ approval to raise Rs 1,200 crore through issuance of equity shares or securities like Foreign Currency Convertible Bonds (FCCB).

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