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Stocks in the news: TCS, Axis Bank, KEC International, IDBI Bank, HFCL, PNB Housing

11 July, 2018 2:13 AM
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Stocks in the news: TCS, Axis Bank, KEC International, IDBI Bank, HFCL, PNB Housing

TCS | Axis Bank | KEC International | IDBI Bank | HFCL | ASM Technologies | Kridhan Infra | Gammon Infra | Shalimar Paints | PNB Housing Finance | JVL Agro Industries | KIC Metaliks | Minda Industries and Reliance Industrial Infrastructure

TCS: Net profit up 6.3 percent at Rs 7,340 crore versus Rs 6,904 crore; revenue up 6.8 percent at Rs 34,261 crore versus Rs 32,075 crore (QoQ). Constant currency revenue growth at 4.1 percent and Dollar revenue up 1.6 percent at $5,051 million.

Axis Bank: Board recommends names of 3 candidates for the position of MD & CEO. The candidate, as approved by the RBI, will succeed Shikha Sharma whose term as MD & CEO is due to expire on December 31, 2018.

PNB Housing Finance: PNB & Carlyle Group to sell at least 51 percent stake in company to potential acquirers. PNB owns 32.79 percent & Carlyle Group 32.36 percent in the company.

Andhra Bank: Board approves raising of equity via preferential issue, QIP & FPO.

IDBI Bank: LIC-IDBI Bank deal may trigger an open offer. LIC has not approached SEBI yet for an exemption on open offer. Preferential allotment of shares to LIC may also be possible, reports CNBC-TV18 quoting government official.

Shalimar Paints: Board approved the draft letter of offer of the company in respect of the proposed rights issue not exceeding an amount of Rs 240 crore and restablishment of Nashik Plant of the company and establishment of new Regional Distribution Centre (RDC) at Nashik Plant.

Saksoft: After the acquisition of 20 percent, Saksoft holds 80 percent of equity share capital of Dream Orbit Softech Private Limited.

KIC Metaliks: Board on July 27 to consider sub-division of equity share of the company of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each.

ASM Technologies: Company has signed the LLP agreement and the related documents pertaining to investment in RV Forms & Gears.

Source: moneycontrol.com

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