STOCK NEWS CORNER

NEWS CORNER

1.     Share price of NTPC added 1.5 percent intraday Friday as company acquired majority stake in 2 power generating company in Bihar. The comapny has acquired 27.36 percent equity of Bihar State Power Generation Co (BSPGCL) in Kanti Bijlee Utpadan Nigam (KBUN) which owns 610 MW Muzaffarpur Thermal Power Station.

2.     Reliance Communications share price rallied nearly 8 percent intraday on Friday after the final settlement agreement between the tower subsidiary and its minority shareholder HSBC. Reliance Infratel and its minority shareholder HSBC Daisy Investments submitted final consent terms of their settlement before NCLAT over sale of tower and fibre asset.

3.     Shares of Gallantt Ispat surged 5.5 percent intraday Friday as company approved sub-division of stock price. The comapny board at its meeting held on June 29 considered and approved the proposal of sub-division (split) of equity shares of the company from the existing face value of Rs 10 per equity share to face value of Re 1 per equity share.

4.     ICICI Bank share price gained 1.7 percent intraday on Friday after the board appointed Girish Chandra Chaturvedi as non-executive part-time Chairman.

5.     Shares of Zee Media Corporation added nearly 5 percent intraday Friday as company approved sale of its stake in subsidiary company. The company board at its meeting held on June 28 approved sale of its entire equity stake comprising of 4 crore equity shares of Re 1 each, in its wholly owned subsidiary Ez-Mall Online to Altilis Technologies, a Promoter group entity, at an aggregate consideration of Rs 8.60 crore.

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Today's NEWS CORNER

NEWS CORNER

1.     ICICI Bank mulls exercising oversubscription option to sell additional 1.43cr shares in ICICI Prudential Life.

2.     TCS hit a new high of Rs 1,849 per share on the BSE during the day, after the IT major said that its board has approved a proposal of buyback upto 76.19 million equity shares at price of Rs 2,100 per share through tender offer.

3.     Manpasand Beverages tanks after the exchange placed shares of the company under ASM (Additional Surveillance Measure) framework effective from today, June 15, 2018..

4.     Shares of Dr Reddy’s Laboratories were up 3% at Rs 2,346 per share on the BSE after the company announced today that it has received final approval from the US Food and Drug Administration (USFDA) for the launch of Buprenorphine and Naloxone sublingual film in the US market.

5.     The Reserve Bank of India (RBI) is planning to provide relief to foreign portfolio investors (FPIs) on some of the new norms proposed in its April 27 circular. As per the new norms, an FPI cannot invest more than 20 per cent of its portfolio in papers that have maturity below one year.

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