BackOpening Bell | TCS, ICICI Bank and NCC in focus
Stocks gained after Greece offered new reform proposals to euro zone creditors, stoking optimism that the country may stitch a deal
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Asian markets gain after Greece submits new plan
Asian markets opened higher. Stocks gained after Greece offered new reform proposals to euro zone creditors, stoking optimism that the country may stitch a deal. Overnight US markets closed marginally higher.
Indian car sales growth slowest in eight months
Car sales in June grew 1.53% from a year ago, the slowest in eight months, to 162,677 units, but the apex industry body Society of Indian Automobile Manufacturers said there is no need to sound the alarm as yet, reports Mint .
TCS Q1 earnings beat estimates
Tata Consultancy Services Ltd (TCS) beat analysts’ earnings estimates for the first quarter of the fiscal as the company generated more business from clients in the US and those from the banking and financial services industry, reports Mint .
Wipro to buy Denmark-based design firm
Wipro Ltd has acquired Denmark-based Designit for $95 million (around Rs600 crore) in an attempt to strengthen its presence in the digital space.
ICICI Bank looking to sell home finance arm
ICICI Bank Ltd may sell its housing finance arm, ICICI Home Finance, to investors such as private equity funds, reports The Economic Times.
NCC in talks to sell tollway project
Global infrastructure investment manager I Squared Capital is in negotiations to acquire a majority stake in an Uttar Pradesh tollway project from NCC Ltd, reports Mint.
JSW in talks to buy Monnet Ispat’s Odisha power plant
JSW Energy Ltd signed non-binding agreement with Monnet Ispat and Energy Ltd for initiating due diligence for acquisition of Monnet Ispat’s 1,050 megawatt power plant in Odisha, reports Business Standard.
Maruti plans to export upcoming hatchback to Japan
Maruti Suzuki India Ltd plans to export a premium compact car, which it expects to launch this year, to Japan, reports Mint.
ITC looks at direct supply of products to retail outlets
ITC Ltd is working on the “leanest possible" distribution model to supply products directly from its manufacturing units to retail outlets across the country. Read more .
Aditya Birla Nuvo enters solar power business
Aditya Birla Nuvo Ltd has decided to bid for solar power projects, starting with Telangana, reports Mint. The board of the company approved participation in the bidding process for upcoming central, state and private sector solar power projects.
Cipla to set up new subsidiary for consumer care business
Cipla Ltd will move its consumer healthcare business into a separate unit to sharpen its focus on the segment and boost sales, reports Mint. Cipla also approved the divestment of its consumer healthcare business to a wholly-owned subsidiary.
Phoenix Mills looks to raise Rs1,000 crore
The Phoenix Mills Ltd seeks to raise Rs1,000 crore by selling shares to institutional investors. It has set a floor price of Rs372.2 per share for the offering. Read more.
Titagarh Wagons to raise up to Rs250 crore
Titagarh Wagons Ltd also plans to raise up to Rs250 crore by selling securities to institutional investors, reports PTI. It fixed the floor price at Rs104.64 per equity share.
GSFC to revive its proposed petrochemical plant at Dahej
Gujarat State Fertilizers and Chemicals Ltd (GSFC) is reviving its five-year old plan to set up a petrochemical complex at Dahej in Gujarat at a cost of Rs10,000 crore, reports Mint. The company, which is primarily a fertilizer manufacturer, also has a prominent presence in two major specialty chemicals-caprolactum and melamine.
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