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Idea Cellular, Tata Steel among top stocks buzzing in trade today

While the Sensex opened 223 points higher at 26,574 level, Nifty rose 62  points to 8,189 level in early trade. We look at five stocks that are in news today.

BT Online | November 30, 2016 | Updated 10:31 IST
Idea Cellular, Tata Steel among top stocks buzzing in trade today

The market on Tuesday opened higher amid Asian stocks trading mixed as concerns over an OPEC oil production cut and Italy's constitutional referendum cast a pall on the markets.

While the Sensex opened 223 points higher at 26,574 level, Nifty rose 62  points to 8,189 level in early trade.

We look at five stocks that are in news today.

Oil India: Oil India Ltd (OIL) on Monday reported a 17.8% fall in standalone net profit for the second quarter ended September at Rs 580.3 crore, as compared with Rs 705.7 crore in similar period a year ago, caused by lower revenue and operational income.

Idea Cellular: Idea Cellular has put on block 100 percent stake in its tower arm and plans to sell 11,000 telecom towers for close to $1 billion, a report said.

Tata Steel: Tata Steel UK has signed a Letter of Intent (LoI) with Liberty House Group, to enter into talks for the potential sale of its speciality steels business for an enterprise value of 100 million pounds subject to due diligence and corporate approvals.

Jagran Prakashan: Jagran Prakashan has informed BSE that the Company's subsidiary, MBL has filed its draft red herring prospectus with the Securities and Exchange Board of India on November 28, 2016 in order to undertake an initial public offering (the "IPO"). The IPO will comprise of a fresh issue aggregating upto Rs. 4,000 million and an offer for sale of up to 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.

Mahanagar Gas: Mahanagar Gas registered a net profit of Rs 102.24 crore, up 41%, against Rs 72.57 crore in the corresponding quarter last year.

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