Bharti Airtel promoter reduces stake
Shares of Bharti Airtel traded 3% down after its promoter group firm Bharti Telecom reduced their holding to 41.24%.
The decision to reduce stake came on the back of renouncement of 11.34cr shares by the entity valued at around Rs3, 920cr and Rs25, 000cr rights issue, the company represented in a press note released on Tuesday after markets hours.
Accordingly, in March 2019, Bharti Telecom, which is owned by Sunil Bharti Mittal family and Singapore-based Singtel Group, held 50.1% stake in the telecom major. The shareholding of the firm has now dropped to 41.24% or Rs200.28cr.
Cadila stock gains 2% after Q4FY19 numbers
Cadila Healthcare Ltd is currently trading at Rs263.65, up by Rs4.4 or 1.7% from its previous closing of Rs259.25 on the BSE.
Cadila Healthcare Ltd's net profit slipped by 24% at Rs460.1cr in March 2019 from Rs606.7cr in March 2018. The company total revenue from operations was up by 15% yoy at Rs3732.8cr in March 2019 from Rs3237.8cr in March 2018.
For the year ended March 31, 2019, on a consolidated basis, the company registered a net profit of Rs1, 849cr and the total income from operations stood at Rs13,166cr, up by 10%.
Equitas Holdings stock tumbles after block deal
Shares of Equitas Holdings tumbled 4.5% in the afternoon session on Wednesday trade. According to the media reports, about 16 lakh shares of the company changed hands in a block deal.
The company's standalone net profit in the fourth quarter ended March 2019 dropped to Rs84 lakh from Rs2.15cr in the year-earlier period.
Gross non-performing assets ratio stood at 2.52% against 2.72% in the corresponding quarter last year. Net NPAs came down marginally to 1.43% from 1.44%.
Adani Group makes non-binding offer of Rs500cr for Jaypee Infra bid
Adani Group has made a non-binding offer of Rs500cr as upfront payment to lenders, employees, and operational creditors in a fresh bid for Jaypee Infratech, media reports stated.
Reacting to this, shares of Jaypee Infratech were trading 5% up on Wednesday.
As per media reports, of the Rs500cr, lenders will receive Rs23cr, while the rest of the money will go to the employees and operational creditors.
In addition to this, the Adani group has offered 1,000 acres to lenders and Rs1, 700cr to construct houses for home owners.
DLF transfers Rs330cr land to JV with GIC for settlement of dues
DLF has transferred three acre land worth Rs300cr in Gurugram to its joint venture with Singapore sovereign wealth fund GIC, a PTI report stated.
As per the report, the company is in the process to hand over a Noida shopping mall to settle dues. DLF owed Rs8, 700cr to DLF Cyber City Developers Ltd (DCCDL) as on December 31, 2018.
In December 2017, DLF had entered into JV with GIC, when promoters of the company sold their entire 40% stake in DCCDL for nearly Rs12, 000cr.
Financial
Advisory Company in Indore, Stock
Advisory Company in Indore, Equity Tips, FreeTrading Tips , MCX Tips, sebi registered advisory company, Intraday
stock tips, Free
commodity tips
0 comments:
Post a Comment