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Stocks in news: Bank of Baroda, Birla Corp and more

With the government raising the import tariff value on gold and silver and an increased demand for public sector banks' stocks, here are the five stocks that remained in news today.

BT Online Bureau   New Delhi     Last Updated: August 17, 2015  | 15:50 IST
Stocks in news: Bank of Baroda, Birla Corp and more
Photo: Reuters

With the government raising the import tariff value on gold and silver and an increased demand for public sector banks' stocks, here are the five stocks that remained in news today:

  1. Bank of Baroda: The shares of the company rose 15.15 per cent to close at Rs 212.40 apiece on Monday. The share prices of Bank of Baroda surged up following a slew of reforms announced in order to revive the fortunes of the public sector lenders. To revive the fortunes of public sector banks, government on Friday unveiled a seven-point plan encompassing Rs 20,000 crore immediate fund infusion, creation of a single holding company and minimising political interference. Announcing the plan 'Indradhanush' Finance Minister Arun Jaitley announced setting up of a Bank Board Bureau (BBB) for broad-level appointments and a performance-based monitoring mechanism. Under the plan, asset reconstruction companies will also be strengthened to deal with bad loan situation. In order to professionalise PSBs, the government also announced appointment of private sector banker to head Bank of Baroda.
  2. Nestle India: The shares of the company fell 2.44 per cent to close at Rs 6132 apiece on Monday. The apex consumer court on Monday issued notice to Nestle India Limited on a Rs 640-crore suit against it by the Centre for alleged unfair trade practices and other charges pertaining to Maggi noodles and directed the Government to test the samples afresh at accredited labs. A bench of National Consumer Disputes Redressal Commission headed by Justice V K Jain admitted the Centre's plea which also accused the company of false labelling and giving misleading advertisements. Taking note of Bombay High Court's August 13 judgement quashing the orders of the Indian food regulators banning the nine variants of instant noodles in the country, the bench directed the Centre to test samples afresh by accredited labs.
  3. Cipla: The shares of the company fell 4.95 per cent to close at Rs 703.85 apiece on Monday. Drug major Cipla reported an over two-fold jump in its consolidated net profit to Rs 650.61 crore for the quarter ended June 30, 2015 mainly on account of robust sales. Consolidated total income from operations also rose to Rs 3,852.77 crore for the quarter under consideration as against Rs 2,720 crore for the same period a year ago.
  4. Birla Corporation: The shares of the company rose 19.27 per cent to close at Rs 540.25 apiece on Monday. Birla Corporation on Monday said it will acquire two cement units from Lafarge India having a capacity of 5.15 million tonnes per annum for Rs 5,000 crore. Birla Corporation said in a BSE filing that it has agreed to a transaction with Lafarge India Private Ltd, whereby Birla Corp, either directly or through its wholly-owned subsidiary, shall acquire both the Jojobera and Sonadih cement businesses from Lafarge India for an enterprise value of Rs 5,000 crore.
  5. Piramal Enterprises: The shares of the company rose 0.47 per cent to close at Rs 932.40 apiece on Monday. Investment bank Goldman Sachs will invest $150 million for a minority stake in Piramal Realty, the Mumbai-based real-estate developer said on Monday. It did not disclose the size of the deal. Piramal Realty will use the money to expand its real-estate portfolio and buy prime properties in and around Mumbai, it said in a statement.

     


 

 

 

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