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Ashok Leyland, Shakti Pumps, Zydus Wellness, Jubilant Life hit 52-week high
Posted on 8th February 2018
Ashok Leyland, Shakti Pumps, Zyndus Wellness, Excel Industries, FDC, Jubilant Life Sciences, Polaris Consulting & Services, Hinduja Global Solutions and Inox Leisure have hit their respective 52-week highs on BSE on Thursday.

These stocks have trading higher by up to 19% today, extending their gain after reported a strong set of numbers for the quarter ended December 2017 (Q3FY18).

Excel Industries soared 19% to Rs 888 after specialty chemicals company reported a more than16-fold jump in net profit at Rs 196 million for Q3FY18. It had profit of Rs 12 million in year ago quarter.

Operational revenue grew 47% to Rs 1,468 million from Rs 998 million in previous year quarter.

Shares of packaged foods company Zydus Wellness surged 14% to Rs 1,197 after the company posted 44% year on year (YoY) growth in its consolidated net profit at Rs 361 million. Revenue from operations grew 22% at Rs 680 million on YoY basis.

Shakti Pumps (India) rallied 10% to Rs 615, extending its past four days 7% gain, after Portfolio Management Schemes of Old Bridge Capital Management on February 1, 2018 bought 81,434 shares representing 0.43% stake of the company through open market.

Post acquisition, total holding of Portfolio Management Schemes of Old Bridge Capital Management in Shakti Pumps increased to 5.3% from 4.87% earlier.

Ashok Leyland hit a new high of Rs 137, up 2%, extending its three days 9% surge, after the company reported more than doubled net profit at Rs 4.5 billion in Q3FY18 against Rs 1.62 billion in the same quarter year ago.

Commercial vehicle major Ashok Leyland unveiled its first electric bus, Circuit-S, with the swappable battery technology of Sun Mobility, at the AutoExpo 2018 on Wednesday, the Business Standard reported.

FDC hits a 52-week high of Rs 280, up 10% on BSE in early morning trade, extending its previous days 6% surge, after the company said that its board has approved the buyback proposal at a price of Rs 350 per equity share through tender offer.

“The board approved the buyback of 3.43 million equity shares of the Company at a price of Rs 350 per equity share for an aggregate amount not exceeding Rs 1,200 million from the equity shareholders of the Company on a proportionate basis through the "Tender Offer" route,” FDC said in a regulatory filing.

Related Companies: Ashok Leyland Limited   

Other Latest News
Sensex, Nifty end marginally higher amid mixed global cues
Posted on 16th January 2019
Mumbai: Equity indices ended marginally higher Wednesday after a see-saw session, tracking mixed cues from the global markets amid geopolitical uncertainties.

After swinging nearly 200 points, the 30-share BSE Sensex index settled 2.96 points, or 0.01 per cent, higher at 36,321.29. The broader NSE Nifty inched up 3.50 points, or 0.03 per cent, to 10,890.30.


IOC to raise USD 3 billion more in overseas loan
Posted on 16th January 2019
New Delhi: State-owned Indian Oil Corp (IOC) may raise about USD 3 billion more through US dollar bonds issue after the Reserve Bank permitted fuel retailers to raise an overseas loan to check fall in rupee value, its Chairman Sanjiv Singh said Wednesday.

IOC is already in market to raise USD 900 million through a bonds issue and is raising an equivalent sum through a syndicated loan for meeting its working capital requirements.


HPCL unlikely to partner Total for LPG cavern in Mangalore
Posted on 16th January 2019
State-run Hindustan Petroleum Corp. Ltd (HPCL) may build its second liquefied petroleum gas (LPG) cavern in Mangalore, Karnataka, said two company officials, requesting anonymity. HPCL is planning to build an underground LPG storage facility and had been in talks with France’s national oil company, Total SA, to partner it. Total SA is also HPCL’s partner in the first LPG cavern in Visakhapatnam, Andhra Pradesh.

Volkswagen and Ford’s marriage leaves investors feeling jilted
Posted on 16th January 2019
Southfield/Michigan/Frankfurt: The much-anticipated alliance announcement by Volkswagen AG and Ford Motor Co. left investors feeling let down as it lacked a big-bucks plan to join forces on electric vehicles and self-driving cars.

Wall Street was hoping for a blockbuster deal, such as the billions of dollars General Motors Co. landed for its self-driving unit from Honda and SoftBank Vision Fund last year.


SBI puts on sale Essar Steel loan of Rs 15,431 crore
Posted on 16th January 2019
Mumbai: With last minute-litigation delaying recovery of Essar Steel loan, State Bank of India (SBI) on Wednesday put on sale its Rs 15,431-crore exposure to the steelmaker on a full-cash basis. In the sale notice on its website, the bank said the aggregate reserve price for the bidding has been set at Rs 9,588 crore.

These include categories like working capital, term loan, corporate loan, export performance bank guarantee (EPBG) and standby letter of credit (SBLC).


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