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Stock Alert

Tata Steel in focus ahead of board meeting
(20-Apr-2017, 08:25 Hours IST)  

Tata Steel's board is scheduled to meet today, 20 April 2017, to consider a proposal for fund raising.

Among other companies, CRISIL, Cyient, Hindustan Zinc, Mastek and MindTree will announce their results for the quarter ended March 2017 today, 20 April 2017.

Yes Bank's net profit rose 30.2% to Rs 914.10 crore on 29.44% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 19 April 2017.

The bank's gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016.

The bank's provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016.

The board of directors of the bank recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

The board has also approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (medium term notes), bonds upto Rs 20000 crore (in Rupee or foreign currency) by the bank to eligible investors on private placement.

NTPC said that its board of directors accorded approval for updating and upsizing the $4 billion medium term notes (MTN) programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on new/ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses.

The board of directors has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto $750 million equivalent (foreign currency bonds other than Rupee denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new/ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI. The announcement was made after market hours yesterday, 19 April 2017.

Jaypee Infratech issued clarification to the stock exchanges with regard to media news titled YEIDA asks Jaypee to pay Rs 90 crore by April 15. The company said the news item does not belong to the company nor have it received any notice from the Yamuna Expressway Industrial Development Authority (YEIDA) for any such payment.

The project belongs to its holding company, Jaiprakash Associates (JAL), Jaypee Infratech said. Further, Jaypee Infratech said it is in the process of taking up the matter with the YEIDA. The company added that it is making its sincere efforts to complete and deliver the projects to the buyers and is in touch with them. Necessary funds required for the working capital have already been tied up with banks and the work on various projects will commence soon, Jaypee Infratech said in a filing to the BSE. The announcement was made after market hours yesterday, 19 April 2017.

GRP said it has signed a manufacturing and supply agreement with a USA based company. The agreement is for exclusive manufacture, process and supply of composite products. The manufacturing facility will be set up at one of the existing GRP plants in Maharashtra and is expected to commence before end of this fiscal year. Investment in the equipment for the venture is estimated at Rs 2.20 crore. The announcement was made after market hours yesterday, 19 April 2017.

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