Stocks stocks in focus on may 4, 2018 – the economic times electricity grid australia

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NEW DELHI: Domestic shares are likely to open on a negative note on Friday, tracking Nifty on Singapore Stock Exchange (SGX) and subdued global cues. At 07:59 am, the Nifty futures of SGX were trading 51 points or 0.48 per cent lower at 10,655.50.

Bharti Airtel: The telecom major plans to raise as much as $1.5 billion by diluting about a fourth of its stake when it lists the holding company for Africa operations, Bharti Airtel International (Netherlands) BV (BAIN BV), in early 2019, said people with knowledge of the matter. The money will help bolster the telco’s efforts to stay competitive in the Indian market, where Bharti has just declared its first quarterly loss in contrast with profits in Africa.

Vedanta: The company on Thursday reported a 81 per cent YoY rise in consolidated profit (after exceptional items) at Rs 4,802 crore for March quarter, which was way ahead of Rs 2,601 crore expected by analysts in an ETNow poll. The miner had reported a profit of Rs 2,647 crore in the same quarter last year.

Tata Motors: As part of its effort to reduce debt and monetise non-core assets, Tata Motors on Thursday sold its defence and aerospace portfolio to Tata Advanced Systems (TASL) to unlock their full potential. The move is likely to bring in proceeds in excess of Rs 700 crore on the Tata Motors books, subject to regulatory and other approvals.

PC Jeweller: Funds managed by Fidelity International halved their holdings in PC Jeweller this week, shedding more than two-thirds of their original stake in the New Delhi-based company that lost about 60 per cent of its market value in seven trading sessions until Wednesday. Direct and indirect subsidiaries of Fidelity and funds managed by the global asset manager sold another 3.53 per cent (1.39 crore shares) on the stock market on Monday, cutting their stake to 3.51 per cent (1.38 crore shares), Fidelity informed Mumbai stock exchanges on Thursday.

JSW Energy: JSW Energy reported a net loss of Rs 483 crore in the fourth quarter of 2017-18 as against a net profit of Rs 24 crore a year ago, as the provisions made for loans given to Jaiprakash Power Ventures ate into the company’s profits. Total income in the quarter was Rs 1,879 crore as against Rs 1,935 crore in the corresponding quarter of the previous year.

Finolex Cables: The tussle between the Chhabria cousins, belonging to the founder families of the Finolex group, has taken a murky turn — with the bitter feud throwing up a tricky question of corporate law: Can the board of a company sit in judgement on one of its independent directors? And caught in the family battle over the Rs 10,000 crore business empire is Crawford Bayley & Co — one of the country’s oldest law firms and a senior partner.

Matrimony.com: The online matchmaking classified player reported a whopping 72 per cent surge in net profit for FY18 at Rs 73.8 crore as compared to Rs 43 crore in FY17. The Chennai-based player also saw its total income grow steadily by 14.5 per cent to Rs 335.5 crore from Rs 293 crore last year.

Trent: Tata group retail firm Trent on Thursday reported a standalone net profit of Rs 11.7 crore for the fourth quarter ended March 31, 2018. The company had posted a net profit of Rs 25.3 crore for the corresponding period of the previous fiscal, Trent said in a filing to the BSE. Standalone revenue from operations of the company stood at Rs 528.7 crore for the quarter under consideration.

Fortis Healthcare: UBS Principal Capital Asia today offloaded 5.44 per cent stake in Fortis Healthcare for over Rs 443 crore through an open market transaction. According to bulk deal data available with the National Stock Exchange (NSE), UBS shed a total of 2,82,31,975 shares, amounting to 5.44 per cent stake, of Fortis.

PNB Housing Finance: PNB Housing Finance reported 44 per cent growth in profit after tax during the fourth quarter of the financial year aided by loan demand, improvement in interest margin and lower operating expenses. During the quarter, company reported profit after tax of Rs 219.2 crore against Rs 152.4 in the same period a year ago. The board recommended final dividend of Rs 9 per equity share of Rs 10 for the financial year.

Hexaware: Mid-sized IT services firm Hexaware Technologies today posted a 17.9 per cent rise in consolidated net profit at Rs 134.3 crore for the quarter ended March 31, 2018. This is against a net profit of Rs 113.9 crore in the same period a year ago, Hexaware said in a statement.