STOCKS NEWS TODAY – 24.08.2016 : 02.18pm
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut : BUY ZONE
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* ADANI ENTERPRISES: The National Green Tribunal fined the company 50 mln rupees for oil spill from a ship carrying coal for the company.
* AUROBINDO PHARMA: Reported a consolidated net profit of 5.85 bln rupees in Apr-Jun, up 23.8% on year and net sales of 36.64 bln rupees, up 13%.
* ECLERX SERVICES: The board will consider a proposal for a buyback of the company's shares at its meeting on Monday.
* ENGINEERS INDIA: Reported a net profit of 803.04 mln rupees, up 50.1% on year and net sales of 3.42 bln rupees, down 12.7% on year.
* HINDUSTAN PETROLEUM CORP: The company, along with GAIL India, will divest 50% stake in a petrochemical plant being set up in Andhra Pradesh.
* IDBI BANK: Has likely set 11.09% as the coupon rate for its Basel-III compliant additional tier-I bonds worth at least 10 bln rupees, sources said.
* IDEA CELLULAR: Said it is not in talks with Vodafone India for a possible merger of services.
* IIFL HOLDINGS: Subsidiary India Infoline Housing Finance will issue non-convertible debentures worth 3.90 bln rupees on a private placement basis.
* INDO COUNT INDUSTRIES: The board has approved five-for-one stock split.
* INOX WIND: The Himachal Pradesh High Court will on Monday hear a winding up petition filed by Mahindra Logistics against the company, a source said.
* MAJESCO: Has tied up with Elafris to offer global insurance companies communications solutions.
* NESTLE INDIA: Plans a renewed push for its business to achieve double digit growth by reducing the processes across functions by 30%-40%, and zero tolerance for non-compliance of targets.
* PIRAMAL ENTERPRISES: The company and Bain Capital Credit have signed a Memorandum of
Understanding for a strategic partnership to invest in distress debt restructuring business.
* Reliance Capital: Has inducted group Chairman Anil Ambani's son Anmol on the board as additional director.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm and Samsung Electronics Co have partnered to extend 'Jio Preview offer' to over 45 Samsung 4G-enabled smartphone models in India.
* RELIANCE POWER: The government has approved company's request to mortgage coal blocks
attached to Sasan power project in Madhya Pradesh to foreign lenders of the plant.
* SHIPPING CORP OF INDIA: Plans 9-bln-rupee fleet expansion to acquire vessels during the current financial year as prices have dropped due to weak demand.
* WELSPUN INDIA: Walmart has said it will review the supply chain and cotton certification records of the company and take suitable action if any quality issues are found in supplies.
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* AUROBINDO PHARMA: Reported a consolidated net profit of 5.85 bln rupees in Apr-Jun, up 23.8% on year and net sales of 36.64 bln rupees, up 13%.
* ECLERX SERVICES: The board will consider a proposal for a buyback of the company's shares at its meeting on Monday.
* ENGINEERS INDIA: Reported a net profit of 803.04 mln rupees, up 50.1% on year and net sales of 3.42 bln rupees, down 12.7% on year.
* HINDUSTAN PETROLEUM CORP: The company, along with GAIL India, will divest 50% stake in a petrochemical plant being set up in Andhra Pradesh.
* IDBI BANK: Has likely set 11.09% as the coupon rate for its Basel-III compliant additional tier-I bonds worth at least 10 bln rupees, sources said.
* IDEA CELLULAR: Said it is not in talks with Vodafone India for a possible merger of services.
* IIFL HOLDINGS: Subsidiary India Infoline Housing Finance will issue non-convertible debentures worth 3.90 bln rupees on a private placement basis.
* INDO COUNT INDUSTRIES: The board has approved five-for-one stock split.
* INOX WIND: The Himachal Pradesh High Court will on Monday hear a winding up petition filed by Mahindra Logistics against the company, a source said.
* MAJESCO: Has tied up with Elafris to offer global insurance companies communications solutions.
* NESTLE INDIA: Plans a renewed push for its business to achieve double digit growth by reducing the processes across functions by 30%-40%, and zero tolerance for non-compliance of targets.
* PIRAMAL ENTERPRISES: The company and Bain Capital Credit have signed a Memorandum of
Understanding for a strategic partnership to invest in distress debt restructuring business.
* Reliance Capital: Has inducted group Chairman Anil Ambani's son Anmol on the board as additional director.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm and Samsung Electronics Co have partnered to extend 'Jio Preview offer' to over 45 Samsung 4G-enabled smartphone models in India.
* RELIANCE POWER: The government has approved company's request to mortgage coal blocks
attached to Sasan power project in Madhya Pradesh to foreign lenders of the plant.
* SHIPPING CORP OF INDIA: Plans 9-bln-rupee fleet expansion to acquire vessels during the current financial year as prices have dropped due to weak demand.
* WELSPUN INDIA: Walmart has said it will review the supply chain and cotton certification records of the company and take suitable action if any quality issues are found in supplies.
