NTPC: The PSU power utility on Wednesday threatened to disconnect supply to Reliance Infra-backed discoms in Delhi – BSES Rajdhani Power (BRPL) and BSES Yamuna Power (BYPL) – from May 9 for non-payment of around Rs 1,300 crore dues. The dispute over delays in dues payment had brought the two sides against each other earlier as well.
Hero MotoCorp: The two-wheeler maker is expected to report a 73 per cent jump in net profit in the quarter ending March 31, showed an analysts’ projection in an ET Now poll. The analysts expect the two-wheeler maker to report a net profit of Rs 825 crore compared with Rs 477 crore posted for the same quarter a year ago.
Tata Motors: Shares of Tata Motors fell about 7% on the BSE on Wednesday after the company announced that vehicle sales dropped in the US in April. But market analysts are not forecasting the worst for Tata Motors yet. Luxury car maker Jaguar Land Rover (JLR), the wholly-owned subsidiary of Tata Motors, reported a 2% fall in the US sales in April 2016.
Kotak Bank: The Mumbai High Court has upheld Kotak Mahindra Bank’s decision to invest in the maiden stock offering by the healthcare and diagnostic company Thyrocare Technologies. The private bank moved the court after its share application was refused on technical ground. In a relief to Kotak Mahindra, the court on Wednesday ruled that the bank can participate in initial public offering ( IPO) of Thyrocare if the promoters, merchant banks and the National Stock Exchange (NSE ) have no objections.
Coal India: After registering 8.5 per cent growth in FY16 in coal output, CIL’s production slipped in the first month of FY17, raising fears that sluggish demand will force the world’s biggest miner to cut back on output and it may push back the target of doubling its output to 1 billion tonnes beyond 2019-20.
Reliance Power: The Anil Ambani firm has won an in-principle approval of the Bangladesh government for the first phase of the 3,000 megawatt LNG-based power plant. Under the approval, first phase of 750 mw power plant will be set up at Meghnaghat (Narayanganj district), around 40 km South-East of Dhaka along with the FSRU terminal at Maheshkhali Island in Cox’s Bazar district of Bangladesh, the company said in a statement here.
Idea Cellular: The telecom firm may spend $1.3 billion (Rs 8,627 crore approx) for adding data spectrum in key markets in the upcoming auction around July while market leader Bharti AirtelBSE 0.75 % may selectively buy 4G airwaves in the coveted 700 Mhz band in a few circles, where it is cheaper than 900 Mhz spectrum, brokerage HSBC said.
Tata Power: The stock perplexed analysts on Tuesday by jumping around four per cent on the BSE. This came a day after the company announced that it had won a small order from the Border Security Force (BSF) for “cooled hand held thermal imagers” (HHTIs). The order worth barely Rs 20 crore, at about Rs 50 lakh per piece – hardly explains such euphoria.
IndusInd Bank: The private lender expects to earn 10% of its operating profit by March 2018 from rural areas, riding on the success of government schemes and fast-growing businesses such as micro finance and vehicle loans as it seeks to expand its reach within the country, chief executive officer Romesh Sobti said. “We believe that sustainable rural growth is around the corner, and it’s not just agriculture.
Future Retail: Kishore Biyani’s Future Group is planning to spin off furniture retail unit HomeTown to merge it with online retailer FabFurnish and create a separate listed entity with a target revenue of Rs 1,000 crore by the end of the next financial year. HomeTown will be the biggest vendor on FabFurnish, which Future Group bought last month for about Rs 20 crore from German incubator Rocket Internet.