Bharti Airtel, Vodafone Idea, Godfrey Phillips, ONGC, Vedanta


Here’s a list of stocks that may be in news on Wednesday.

Vodafone Idea: Higher finance costs and exceptional items on account of licence fees and spectrum dues in the AGR case nearly doubled the losses at Vodafone Idea in March quarter to 11,643 crore from 6,438 crore in the immediate previous three-month period.

Bharti Airtel: The Carlyle Group will invest $235 million for approximately 25% stake in Nxtra Data Ltd, a wholly-owned subsidiary of Bharti Airtel engaged in the data centre business. The post-money enterprise valuation of Nxtra is approximately $1.2 billion.

JSPL: Naveen Jindal-owned Jindal Steel and Power Ltd (JSPL) has accepted a binding offer to sell its entire stake in its Oman asset Jindal Shadeed Iron and Steel Co LLC (JSIS Oman) to promoter company Templar Investments Ltd. JSIS Oman was held through JSPL’s subsidiary Jindal Steel & Power (Mauritius) Ltd.

Bank of Baroda: State-owned Bank of Baroda (BoB) on Tuesday said it will mop up 2,000 crore by issuing bonds to fund its growth plans. “…Capital Raising Committee of our bank has today approved issuance of Basel III Compliant Additional Tier I Bonds for aggregate total issue size not exceeding 2,000 crore in single or multiple tranches,” BoB said in a regulatory filing.

Godfrey Phillips: Cigarette maker Godfrey Phillips India on Tuesday reported a 20.5 per cent decline in consolidated net profit to 38.43 crore for the fourth quarter ended March 31. The company had posted a net profit of 48.34 crore during the January-March quarter of the previous fiscal.

RITES: The railways consultancy firm reported a 4.28% decline in consolidated profit at 143.93 crore for the quarter ended March 31, 2020. The company had posted a consolidated profit of 150.38 crore in the corresponding quarter of previous fiscal.

ONGC: State-owned Oil and Natural Gas Corp (ONGC) on Tuesday reported its first-ever quarterly loss after it took an impairment on slumping prices and hoped the government will free gas prices to end the era of unremunerative rates. India’s top oil and gas producer reported a 3,098 crore loss in the January-March quarter as compared to a profit of 4,240 crore in the same period a year back.

Vedanta: The company is seeking to increase a planned $2.5 billion loan by $250 million to help it advance a decision to delist its main India unit, Bloomberg reported.

ZEEL: Yes Bank Ltd has moved the Bombay High Court to restrain promoters of Zee Entertainment Enterprises Ltd (ZEEL) from selling further stake in the company and to stop managing director Punit Goenka from leaving India. Essel group, which includes ZEEL, owes as much as 8,000 crore to Yes Bank, which itself is in the middle of a complicated rescue plan.

InterGlobe Aviation: India’s largest domestic carrier IndiGo on Tuesday said that it has initiated additional leave-without-pay (LWP) for its pilots effective from July in a bid to bring down costs. IndiGo had earlier enforced 20-25% pay cuts for senior staff, including pilots, from May besides handing out a graded leave-without-pay programme for employees till July, to save on its costs.

Subscribe to newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.


Please enter your comment!
Please enter your name here