Apollo Tyres Q4FY19 PAT down 66% yoy
Shares of Apollo Tyres were trading 4% down on Thursday after the company registered a fall of 66% yoy in PAT for Q4FY19 at Rs83.99cr vs. Rs250.1cr in the same period a year ago.
The company revenue for Q4FY19 rose 5% at Rs4,273cr vs. Rs4,033.6cr in the same period a year ago. Further, the company EBITDA dropped 18% yoy at Rs423cr. Margin for the quarter stood at 9.8% vs. 12.8% in the corresponding period last year. The company registered one-time loss of Rs100cr due to IL&FS.
PNB Housing Finance gains 1% on reports of CCI approving General Atlantic's acquisition
Shares of PNB Housing Finance were trading 1% higher on Thursday after a PTI report stated that the Competition Commission (CCI) approved the acquisition of 6.5% by General Atlantic Group in PNB Housing Finance in an Rs925cr deal.
PNB in March had said that it will sell 6.5% of its stake in PNB Housing Finance to global private equity firm General Atlantic Group. PNB had entered into an agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance (PNBHF) to General Atlantic Group at Rs850/share for Rs925.80/, reports added.
Varun Beverages Q1CY19 PAT at Rs40cr
Varun Beverages, in its press note to the exchanges on Thursday, informed that the company registered 102.9% yoy growth in PAT for the first quarter of calendar year 2019 at Rs40cr.
The company revenue from operations (net of excise / GST) grew 24.1%yoy to Rs1,359.2cr as compared to Rs1,094.8cr. Total sales volumes were up 12.3%yoy at 9.03cr unit cases in Q1CY19 as compared to 8.04cr unit cases in Q1CY18. EBITDA increased by 26.5% yoy to Rs218.38cr in Q1CY19 from Rs172.69cr in Q1CY18.
JSPL bags Rail contracts worth Rs665cr from RVNL
Jindal Steel & Power Limited (JSPL), India only private manufacturer of rails, has won an order from Rail Vikas Nigam Limited (RVNL) to supply 89042 tonnes of UIC 60 kg IRS T-12 880 grade 13 meter rails for its upcoming projects. The order is valued at approximately Rs665cr. A notification of award for the same was issued to JSPL on 8th May 19 by the RVNL.
Reliance MF sells pledged shares of Zee Enterprise
Reliance Mutual Fund has sold shares worth Rs410cr of Zee Entertainment Enterprises that the promoters Essel Group had pledged with the asset manager to raise money, media reports stated.
Reliance had sold the shares of the company in opening market on Wednesday, which led to a sharp fall in Zee stocks.
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