Stocks in the news: Coal India, ONGC, Ashok Leyland, Adani Enterprises & LIC Housing Finance

LIC Housing said it will seek shareholders' approval in the upcoming annual general meeting this month to raise up to Rs 50,500 crore.

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Ashok Leyland plans to come up with multiple products for various segments to cater to both domestic and international markets as it aims to de-risk its business.
Nifty futures on the Singapore Exchange traded 14.5 points, or 0.13 per cent lower at 11,545, in signs that Dalal Street was headed for a muted start on Thursday. Here are a few stocks which may buzz the most in today's trade:

Coal India: Mining major Coal India reported a 55 per cent drop in its net profit for the quarter ended June to Rs 2,079.60 crore, but still managed to beat analysts’ estimates.

IndusInd Bank: The private sector on Wednesday said it has approved allotment of preferential shares to marquee investors to raise Rs 2,495.79 crore.


RIL, Infosys: Vanguard Total International Stock Index Fund on Wednesday sold shares of HDFC, HUL, Infosys, RIL and TCS for Rs 677.72 crore through open market transactions. The shares were purchased by VFTR C Institutional Total International Stock Index Trust II.

Sterlite Technologies: Data technology firm Sterlite Technologies said its chief financial officer Anupam Jindal has resigned from the company and will be relieved from his duties from September 11.

Infibeam Avenues: The company reported a 58.6 per cent decline in consolidated net profit at Rs 12 crore for June 2020 quarter. The company had posted a net profit of Rs 29 crore in the year-ago period, Infibeam Avenues said in a regulatory filing.
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Dish TV: Direct-to-home company Dish TV India reported a consolidated net profit of Rs 74.54 crore for the quarter ended June. It had posted a net loss of Rs 35.44 crore in the April-June period a year ago, Dish TV said in a BSE filing.

ONGC: State-owned Oil and Natural Gas Corp (ONGC) may see capital spending this fiscal reduce by close to one-fifth after Covid-19 related restrictions delayed projects, PTI reported citing director-finance Subhash Kumar . Separately, Reuters reported the company is unlikely to buy overseas oil and gas assets at current prices of about $45 a barrel, citing finance director Subhash Kumar.

Ashok Leyland: Hinduja group flagship Ashok Leyland plans to come up with multiple products for various segments to cater to both domestic and international markets as it aims to de-risk its business, which is currently skewed towards heavy and commercial vehicles, Chairman Dheeraj G Hinduja told PTI.

Adani Enterprises: Billionaire Gautam Adani said his ports-to-energy conglomerate Adani Group acquiring a controlling stake in Mumbai airport will help expand its existing portfolio of six airports and create strategic adjacencies for the group's other businesses
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LIC Housing Finance: LIC Housing Finance said it will seek shareholders' approval in the upcoming annual general meeting this month to raise up to Rs 50,500 crore by issuing debt securities or other hybrid instruments on a private placement basis.

Satin Creditcare Network: Microfinance company Satin Creditcare Network has reported 69 per cent year-on-year fall in net profit for the June quarter on account of a rise in provisions even as its asset quality improved over the quarters.
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Cosmo Films: The packaging products maker said it will invest Rs 300 crore to set up a new line of speciality polyester films at Aurangabad. In a regulatory filing, the company said it plans to set up a new line of specialty polyester films (Biaxially-Oriented Polyethylene Terephthalate or BOPET) by the second quarter of 2022-23.

DHFL: Fraudulent transactions worth Rs 17,394 crore happened at debt-ridden mortgage firm DHFL during FY07 to FY19, according to transaction auditor Grant Thornton.

Rossari Biotech: Plutus Wealth Management bought 3,00,000 shares of Rossari Biotech at Rs 773.82 per share.

Page Industries, MSTC, Panacea Biotec, Zuari Agro Chemicals: These companies are scheduled to announce their June quarter earnings on Thursday.

Sadbhav Engineering: Sadbhav Engineering reported widening of consolidated loss to Rs 123.45 crore for the quarter ended June. The company had a loss of Rs 30.04 crore in April-June last year.

Arvind Fashions: Arvind Fashions, which sells brands such as Calvin Klein, Gap and Tommy Hilfiger, reported on Wednesday a consolidated net loss of Rs 213 crore for the June quarter, as stores across the country remained largely shut through the period to prevent the coronavirus from spreading.

UPL: Sandra Shroff, vice chairman of agrochemical company UPL has resigned from the board just before the annual general meeting on August 31 as proxy advisory firms recommended that institutional investors should vote against her reappointment as non-executive director citing the excessive remuneration paid to her through subsidiaries or group companies.


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