NIIT Tech spurts 5% on favorable Q2FY19 numbers
Shares of NIIT Tech jumped 5% in the afternoon session on Wednesday after posting better than expected numbers for the second quarter of FY19.
The company reported better than expected numbers for Q2FY19 on all fronts. Revenue grew 10% qoq to Rs907cr against the median consensus estimate of Rs890cr. EBIT came in at Rs132cr, up 32.2% qoq against the median consensus estimate of Rs117cr, while the EBIT margin expanded 243bps qoq to 14.5%. The tech company has reported PAT of Rs112cr, a 30.3% rise against median consensus estimate of Rs92cr.
KRBL falls ~12% intraday after auditor resigns
Shares of KRBL fell ~12% on the NSE in noon trade on Wednesday after the company announced that one of its statutory auditors has resigned. The stock, however, pared losses after the company issued a televised clarification.
“One of our Joint Statutory Auditors, i.e. SSAY & Associates, Chartered Accountants, vide their letter dated October 16, 2018, have resigned from the position with immediate effect due to some unavoidable circumstances,” KRBL said in a statement to the exchanges.
Edelweiss Infra arm to acquire four power transmission assets from Essel Infra
Edelweiss Infrastructure-backed Sekura Energy will acquire two operational and two under-construction power transmission assets from Essel Infraprojects Ltd. The total cost of the acquisition is slated to be $800mn.
The operational assets are Darbhanga-Motihari Transmission Ltd and NRSS XXXI (B) Transmission Ltd. The two under-construction assets -- Warora-Kurnool Transmission Ltd and NRSS XXXVI Transmission Ltd -- are expected to be commissioned in FY20.
Stakes in the latter two assets would be acquired post commissioning.
Cadila gets USFDA approval to market Clobetasol Propionate Crea
Zydus Cadila has received approval from the US Food and Drug Administration (USFDA) to market Clobetasol Propionate Cream, (US RLD - Temovate® Cream), 0.05%, the company said in a press note to the exchanges on Wednesday.
The company will manufacture this cream at its formulations manufacturing facility in SEZ, Ahmedabad.
"Clobetasol Propionate is a topical steroid used to treat inflammation and itching caused by a number of skin conditions such as allergic reactions, eczema, and psoriasis," the company added in a press note.
Indiabulls Housing Finance declines on exposure to SuperTech
Shares of Indiabulls Housing Finance slumped 12% on the BSE in afternoon trade on Wednesday after Macquarie reported that the company’s loans to "default" rated SuperTech could be as high as ~Rs500cr.
Indiabulls HF shareholders are worried after a brokerage house downgraded SuperTech’s credit facilities. Further, the housing finance company has accorded a loan to SuperTech for a specific project that is ring-fenced and earns monthly rentals of ~Rs30-35cr.
Financial Advisory Company in Indore, Stock Advisory Company in Indore , Equity Tips , Free Trading Tips , MCX Tips , sebi registered advisory company , Intraday stock tips , Free commodity tips
0 comments:
Post a Comment