Hindustan Zinc's net profit fell 46.55% to Rs 1036.86 crore on 25.45% drop in total income to Rs 3140.74 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 20 July 2016.
Ambuja Cements will be in focus. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, yesterday, 20 July 2016 approved the proposal for Ambuja Cements for acquisition of 24% shares in its holding company-Holcim (India) from Holderind Investment and subsequent reverse merger through a share swap. This would entail outflow of Rs 3500 crore.
These transactions would enable Lafarge Holcim group to create a linear corporate structure (with Ambuja and ACC becoming parent and subsidiary) with a view to harvest significant synergies from India operations. This will further strengthen all India footprints, debt free balance sheet and cash flow generation, bringing in huge prospects for further expansion and creation of employment opportunities.
Mahindra & Mahindra (M&M) turns ex-dividend today, 21 July 2016 for dividend of Rs 12 per share for the year ended 31 March 2016 (FY 2016).
Larsen & Toubro Infotech (L&T Infotech) makes its debut on the secondary equity markets today, 21 July 2016. The company had priced its initial public offer (IPO) at Rs 710 per share -- the top end of the Rs 705-710 per share price band for the IPO. The IPO received strong response from investors. The company's promoter and engineering & construction major L&T sold a part of its stake through the IPO of L&T Infotech.
L&T Infotech offers an extensive range of IT services to clients in diverse industries such as banking and financial services, insurance, energy and process, consumer packaged goods, retail and pharmaceuticals, media and entertainment, hi-tech and consumer electronics and automotive and aerospace. Based on consolidated financial performance, the company's net profit rose 19.89% to Rs 922.17 crore on 17.45% growth in revenue from operations to Rs 5847.06 crore in the year ended 31 March 2016 over the year ended 31 March 2015.
Cairn India, HDFC Bank, and Kotak Mahindra Bank will announce Q1 results today, 21 July 2016.
Central Bank of India announced after market hours yesterday, 20 July 2016 that a meeting of the Capital Raising Committee of the Board of Directors of the bank will be held on 25 July 2016 to consider and approve raising of additional equity capital upto Rs 1297 crore by issuance and allotment of equity shares of the face value of Rs 10 each at such issue price including premium per equity share as may be determined on preferential basis subject to approval of Reserve Bank of India, shareholders and other statutory authorities (if any).
HPCL announced after market hours yesterday, 20 July 2016 that the Board of Directors of the company at its meeting held on 20 July 2016, have considered and recommended increase in authorised share capital to Rs 2500 crore and further recommended Capitalisation of Reserves and issue of fully paid bonus shares in the ratio of 2 bonus shares for every 1 existing equity share.
HPCL also announced that the Board of Directors of the company at its meeting held on 20 July 2016, have approved Visakh refinery capacity expansion from 8.33 MMTPA to 15 MMTPA with residue up-gradation facility meeting BS VI fuel specification compliance under Visakh Refinery Modernization Project (VRMP). The project involves an investment of Rs 20928 crore and is expected to be mechanically completed within 48 months from the date of approval.
IIFL Holdings announced after market hours yesterday, 20 July 2016 that the board of directors of the company at its meeting held on 20 July 2016 approved the proposed investment of about Rs 1000 crore by CDC Group Plc, UK [CDC] in the wholly owned subsidiary of the company namely India Infoline Finance, a systemically important Non Banking Financial Company [NBFC] of the Group. The investment is by way of issue and allotment of equity shares and compulsorily convertible preference shares [CCPS] subject to necessary regulatory approvals;
The board approved entering into an Investment Agreement amongst the company, India Infoline Finance and CDC in relation to the aforesaid investment. Upon the consummation of the transaction, CDC will hold around 15% equity stake in India Infoline Finance on a fully diluted basis i.e. assuming full conversion of CCPS and maximum possible dilution due to vesting of all outstanding stock options.
NHPC announced after market hours yesterday, 20 July 2016 that a meeting of the board of directors of the company will be held on tomorrow, 22 July 2016, to consider and approve raising of corporate bonds upto Rs 4500 crore till September 2017, on private placement basis subject to shareholders' approval through special resolution.
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