Foreign investors sold their stakes in PNB Housing. Vodafone sharply lowered its stake in Indus Towers and used proceeds to repay bank loans. MAS Financial launched its institutional offering.
Ami Organics, Prestige Estates, and Mrs. Bectors schedule board meetings to review fund-raising proposals. Kalpataru Projects declared a final dividend.
Bharti Airtel paid the remaining dues for the purchase of wireless spectrums between 2012 and 2015. Vodafone Idea plans to sell its entire stake in Indus Tower as early as next week. TCS was ordered by a U.S. judge to pay a multi-million dollar fine for violating the U.S. Disclosure Act.
Vodafone Idea agreed to allocate equity stakes in the company to telecom equipment makers Nokia and Ericsson. LIC-controlled funds increased their stake in Dr. Reddy's through open market transactions. Havells India plans to expand its air conditioner manufacturing capacity at two locations.
One 360 WAM agreed to acquire ET Money, the brokerage arm, controlled by Times of India Group. Bondada Engineering Group won a solar power construction order from NLC India.
Cipla plans to appeal the latest ruling by a court in Bihar for the disallowance of tax credit. Patanjali Foods said it plans to evaluate the purchase of non-food businesses owned by Patanjali Ayurved Ltd.
KIOCL suspended production at its iron ore pallet plant in Mangalore because of weak demand. InterGlobe Aviation's promoter plans to lower its stake in the airline by 2%. The consortium of Siemens and RVNL won an order from Bangalore Metro.
EIH Associated Hotels scheduled a board meeting to consider a bonus stock offering. KEC International won large new orders in its electric tower and power transmission engineering divisions.
Bajaj Finance plans to list its home finance unit and raise as much as 4,000 crore through an initial public offering. Hero MotoCorp acquired an additional stake in electric mobility startup Ather Energy.
BHEL won an order to set up a power plant in Chhattisgarh, and KPI Green won orders to set up a solar power generation and transmission plant. Force Motors said domestic vehicle sales rose 13% in May.
Mahindra & Mahindra Financial Services said new vehicle loans approved in May rose 7% from a year ago. Biocon said its injectable drug to treat yeast and fungal infections received approval from the U.S. drug regulator. RVNL won a large construction order from the South Central Railway.
Tata Motors and Mahindra & Mahindra reported a rise in vehicle sales in May, while Hero MotoCorp, TVS Motor, Eicher Motor, and Maruti Suzuki reported a decline in monthly sales.
Apollo Hospitals reported strong quarterly results, and the company proposed a final dividend. Bharat Dynamics continued its string of quarterly revenue growth. BGR Energy Systems' net income swung to a profit in the March quarter, highlighting its volatile income profile.
GMR Airports reported a narrower loss in the March quarter. SJVN reported a sharp jump in profit, but revenue declined in the March quarter. MTNL said its quarterly net loss widened in its latest quarter.
GNFC reported a decline in sales and earnings in the March quarter, confirming the weakness in the fertilizer and chemical industries following the sharp increase in prices. Hindalco Industries is set to list its U.S. subsidiary, Novelis, as early as next month.
