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TOP CORPORATE NEWS – 07 NOV 2019

corporate news (2)

CORPORATE NEWS

HPCL’s net profit drops 4%; H1 GRM at $1.87/bbl.

Hindustan Petroleum Corporation Ltd (HPCL) posted a standalone net profit of Rs1, 052.31cr, which was down by 4% for the quarter ended September 30. The company had posted a net profit of Rs1, 091.98cr in the corresponding quarter last year.
The total income of the company also fell 9% to Rs66, 850.89cr as against Rs73, 789.50cr in Q2FY19. Average Gross Refining Margin during the six months ended September 30, 2019, was US$1.87 per/bbl as against US$5.93/bbl during the corresponding period of the previous year.

PNB Housing Finance rises 4% on raising Rs4,500cr via NCDs.

PNB Housing Finance Limited is trading higher by over 4% after the company raised Rs2, 500cr through the issue of secured redeemable nonconvertible debentures (NCDs). This issuance is through private placement basis with a door to door tenure of 10 years and the proceeds will be utilized by the company for its normal course of business operations.

IPCA Laboratories soars 6% after posting 63% yoy jump in Q2 PAT.

Shares of IPCA Laboratories traded higher by 6% in afternoon trade after the company reported stellar Q2 numbers. Consolidated total Income went up 26% yoy at Rs1, 298.70cr cr. Indian formulations income was up 16% yoy at Rs543.21cr. Exports income went up 27% yoy at Rs588.03cr. Consolidated EBITDA margin came in at 22.69% in Q2FY20. Consolidated Net Profit stood at Rs193.54cr up 63% yoy.

Info Edge acquires Metis Eduventures for Rs7.06cr.

Info Edge Ltd. informed the exchanges about the acquisition of securities in Metis Eduvcnturcs Pvt. Ltd. (“Adda247”) for an amount of about Rs7.06cr through secondary purchase of shares from its existing shareholders. In furtherance to the above, the company informed that is has entered into an agreement to invest about Rs21cr in Metis Eduventures Private Limited (“Adda247”) as primary acquisition of shares.

SJVN signs MoU with Himachal Govt for 430 MW power project.

Shares of SJVN are trading flat in the noon trade on the BSE. The Government of Himachal Pradesh has decided to allot Reoli Dugli Hydro Electric project to the company which is located in Lahaul Spiti District on river Chenab in the state of Himachal Pradesh. The proposed estimated investment on the project is Rs5,000cr. The proposed commencement of production from the project is 66-months after investment approval, the company said.


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