Stocks in the news: Lakshmi Vilas Bank\, SpiceJet\, Future Enterprises\, IRB Infra and Hexaware

Stocks in the news: Lakshmi Vilas Bank, SpiceJet, Future Enterprises, IRB Infra and Hexaware

Stocks in the news: Lakshmi Vilas Bank, SpiceJet, Future Enterprises, IRB Infra and Hexaware
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SpiceJet reported a net loss of Rs 600.5 crore for the first quarter ended June 30, owing to the suspension of flight operations due to the coronavirus-induced lockdown.

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Nifty futures on the Singapore Exchange traded 35 points, or 0.30 per cent lower at 11,496.50 , in signs that Dalal Street was headed for a negative start on Wednesday. Here are a few stocks which may buzz the most in today's trade:

Lakshmi Vilas Bank: The bank said due diligence on its proposed amalgamation with mid-sized non-banking lender Clix Capital Group is "substantially complete" and the parties are in discussions on the next steps.

Hexaware Technologies: IT firm Hexaware Technologies said market regulator Sebi has allowed extension of closure of its delisting offer to Sep 16.

SpiceJet: The budget carrier reported a net loss of Rs 600.5 crore for the first quarter ended June 30, owing to the suspension of flight operations due to the Covid-induced lockdown. It had posted a net profit of Rs 262.8 crore in the corresponding period of the previous financial year.

Future Enterprises: The company reported a consolidated net loss of Rs 322.92 crore for the quarter ended on June 30.The company had posted a consolidated loss of Rs 8.59 crore in the April-June quarter a year ago, Future Enterprises Ltd (FEL) said in a BSE filing.

IRB Infrastructure Developers: The company's arm has entered into a pact with NHAI for executing a stretch of Vadodara-Mumbai Expressway in Gujarat at a cost of Rs 1,755 crore. The project falls under Bharatmala Pariyojna Phase 1

Dish TV: DTH service provider Dish TV said it has started shifting production of its set-top boxes (STBs) to India, with plans to produce 50 per cent in the country by the first quarter of 2021.

Sterlite Technologies: The company said it has teamed up with Bharti Airtel to build an optical fibre network for the telco across 10 telecom circles. The modern optical network will enable Airtel to deliver enhanced customer experience through scalability, reduced latency, and improved bandwidth, the company said in a statement.

Mcleod Russel: The auditor to debt-laden tea producer Mcleod Russel has said the company's current liabilities have exceeded its assets, flagging an "uncertainty about its ability to continue as a going concern".

Can Fin Homes: Canara Bank-promoted housing finance firm Can Fin Homes said CARE Ratings has reaffirmed its A1 plus rating on its commercial paper issue of up to Rs 4,500 crore.

Aurobindo Pharma: The company announced collaboration with the Biotechnology Industry Research Assistance Council (BIRAC), set up by the Department of Biotechnology for the development of coronavirus vaccine.

InterGlobe Aviation: Aviation regulator DGCA has commenced special safety audit of IndiGo and Vistara as part of its ongoing exercise to review and assess safety mechanism across domestic airlines in the wake of the recent Air India Express plane crash, a top official has said.

Max India: The company said its board has approved a capital reduction programme under which the company will buy back equity shares worth up to Rs 92 crore from public shareholders.

Exide Industries: Lead acid battery maker Exide Industries is focusing on innovations for emerging applications like hybrid and electric vehicles, a company official said on Tuesday. A lithium-ion JV has been formed and is well placed with an assembly line having a capacity of 1.5 GWh, it said.

Indiabulls Housing Finance: The company said Brickwork Ratings has assigned short-term rating of A1 plus to the company, signifying adequate degree of safety and low credit risk. The rating agency has reaffirmed the long-term rating at AA plus, suggesting high degree of safety and very low credit risk, according to a regulatory filing.

MCFL: Mangalore Chemicals and Fertilizers Ltd (MCFL) on Tuesday announced the appointment of Akshay Poddar as company's chairman with effect from September 29.

Siti Networks: Cable TV distributor reported a consolidated net loss to Rs 45.81 crore for the first quarter ended on June 30, 2020. The Essel Group firm had posted a net loss of Rs 49.48 crore in April-June quarter a year-ago.

BSE: Deutsche Boerse, which sold 12,00,000 shares of BSE on Monday further sold 7,86,933 shares of the company at Rs 554.36 while Nippon India Smallcap Fund bought 5,46,650 shares of the company at Rs 554.

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Stocks in the news: Lakshmi Vilas Bank\, SpiceJet\, Future Enterprises\, IRB Infra and Hexaware

Telcos to approach DoT against India-specific 5G standards citing cost concerns: Report
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Last Updated : Sep 16, 2020 09:47 AM IST | Source: Moneycontrol.com

Telcos to approach DoT against India-specific 5G standards citing cost concerns: Report

Adoption of India-specific 5G radio interface technology is also likely to be opposed as it could impede interoperability

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Telecom companies will approach the Department of Telecommunications (DoT) to dissuade adoption of India-specific 5G standards as this could increase cost of 5G phones by 30-40 percent and impact business in the country.

Telcos will soon write to the DoT urging adoption of International Telecom Union (ITU) approved 5G network standards instead to leverage the global 5G ecosystem and ensure affordability, said a report by The Economic Times.

Besides the standards, adoption of India-specific 5G radio interface technology (RIT) as proposed by the Telecommunications Standards Development Society, India (TSDSI) is also likely to be opposed as it could impede interoperability for overseas Indian users and foreigners, a top telco executive said as per the report.

Moneycontrol could not immediately verify the report.

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Explaining the cost angle, the executive said that manufacturers would have to design and make Indian phones separately to adhere to country-specific standards which would increase cost and lower volume of production.

TSDSI Chairman Prof Bhaskar Ramamurthi however told the paper there is “nothing to suggest major cost impact associated with the proposed enhancement” as it is only software related.

The proposed standards include deploying 5G in 3.4 GHz band and fixing inter-site distance (ISD) between mobile towers at 12 km; as against 3GPPP’s 5G standards – cleared by the ITU – which promotes 700 MHz band and 6 km ISD.

But Ramamurthi pointed out that TSDSI is a partner of jointly-owned 3GPP, adding: “Both 3GPP-only and TSDSI-compliant phones cost nearly the same and will also coexist and interoperate in networks all over the world.”

Telcos however argue the TSDSI’s standards would not meet performance criteria in rural India, which Ramamurthi refutes claiming that 6 km ISD would provide coverage to around 60 percent villages, while 12 km ISD ensures 95 percent coverage.

The Cellular Operators Association of India (COAI) did not respond to queries, the report added.
First Published on Sep 16, 2020 09:47 am
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Stocks in the news: Lakshmi Vilas Bank\, SpiceJet\, Future Enterprises\, IRB Infra and Hexaware

Former Chelsea Defender Ivanovic Says Has Lots To Offer West Brom
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Former Chelsea Defender Ivanovic Says Has Lots To Offer West Brom

Former Chelsea Defender Ivanovic Says Has Lots To Offer West Brom

Serbian defender Branislav Ivanovic says he has plenty to offer West Bromwich Albion after the 36yearold free agent joined the promoted Premier League side on a seasonlong deal.

  • Last Updated: September 16, 2020, 10:12 AM IST

Serbian defender Branislav Ivanovic says he has plenty to offer West Bromwich Albion after the 36-year-old free agent joined the promoted Premier League side on a season-long deal.

Ivanovic made more than 350 appearances for Chelsea and won nine major titles with the London club before leaving for Russian side Zenit Saint Petersburg in 2017.

He returns to England’s top flight as Slaven Bilic’s sixth signing since West Brom’s promotion, following the arrivals of Grady Diangana, Matheus Pereira, Cedric Kipre, David Button and Callum Robinson.

“I’m so happy to be back,” Ivanovic told West Brom’s website.

“I know Slaven from before. He’s amazing and I hope together we’re going to be a success. He understands football and looks like a guy who everyone wants to play for.

“I missed English football … I looked to be back in the previous year but it didn’t happen, so now I’m happy to be here and I’ll try and do my best. I can give something more. I’m completely different… I’m ready for the challenge.”

Ivanovic’s arrival is a boost for West Brom, who conceded three goals without reply in a Premier League defeat by Leicester City on Sunday.

They host Harrogate Town in the League Cup later on Wednesday before travelling to Everton in the league on Saturday.

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