Vodafone India, i-banks to kick-off IPO talks today: Sources

Telecom giant Vodafone India will be the largest IPO in half a decade, after Coal India, reports Nisha Podar of CNBC-TV18. Vodafone Group Plc may raise over USD 2 billion via IPO of its Indian arm. Vodafone India has recently mandated major investment banks (Bank of America-Merrill Lynch, Deutsche Bank, HSBC, UBS, Kotak Bank) for the process of carrying out IPO.   Sunil Sood, MD and CEO of Vodafone India, along with the aforementioned banks will soon be kick-starting the process for the IPO in Mumbai on May 19. However, Vodafone Group, the parent company, has not yet given its nod to the IPO, sources said. 

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Lupin Q4 profit soars 47% on US biz despite 65% rise in R&D cost

Lupin's fourth quarter earnings surpassed analysts' expectations on Thursday with consolidated profit soaring 47.5 percent to Rs 807 crore compared to year-ago period, driven by strong international as well as domestic business despite sharp spike in tax cost. Revenue in Q4 increased 35.9 percent to Rs 4,181.2 crore with international business rising 41.1 percent (to Rs 3,305.7 crore) and India growing 19 percent (to Rs 875.5 crore) compared to corresponding period of last fiscal, the pharma major said in its filing.

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The S&P BSE Sensex slipped over 100 points in Thursday morning trade ahead of outcome of assembly elections in the high-stakes Assembly elections in West Bengal , Kerala Tamil, Nadu, Puducherry and Assam. The fall in the index was led by losses in HDFC Bank, HDFC, ITC, L&T, and Axis Bank. 

Castrol India down as much as 4.7 pct to its lowest since March 29.Castrol Ltd selling up to 10.5 percent stake in Castrol India for as much as $287 million, according to a term sheet seen by Reuters.Share sale at an indicative range of 355-385.25 rupees per share vs its 385.25 rupees closing price on Wednesday.

टाटा कम्युनिकेशंस बेचेगी डाटा सेंटर कारोबार

टाटा कम्युनिकेशंस जल्द ही अपना डाटा सेंटर कारोबार बेचने का एलान कर सकती है। कंपनी एसटी टेलीकॉम को को अपना डाटा सेंटर कारोबार बेच सकती है। 75 फीसदी हिस्सेदारी बेचने की ये डील 68 करोड़ डॉलर में हो सकती है।

टाटा कम्युनिकेशन का बोर्ड आज इस डील को मंजूरी दे सकता है। डील से जुटाई गई रकम का इस्तेमाल कंपनी कर्ज घटाने के लिए करेगी। कंपनी पर फिलहाल 10 हजार करोड़ रुपये से ज्यादा का कर्ज है।

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JSW Steel Q4 profit up 3-fold to Rs 171cr, FY16 loss at Rs 742cr

JSW Steel's fourth quarter consolidated profit nearly trebled to Rs 171.25 crore compared to Rs 62.38 crore in year-ago period, supported by operational performance and other income. Revenue declined 15 percent to Rs 10,697.52 crore in quarter ended March 2016 compared to Rs 12,599.7 crore in same period last fiscal. Operating profit (earnings before interest, tax, depreciation and amortisation) grew by 8.4 percent to Rs 1,825 crore and margin expanded by 370 basis points to 17.1 percent compared to year-ago period. JSW Steel said it expects FY17 crude steel production at 15.75 million tonnes against 12.56 million tonnes in FY16, adding sales volume in Q4 increased 7 percent to 3.28 million tonnes YoY. In FY16, the steel company posted a loss of Rs 741.95 crore against profit of Rs 1,796.57 crore in previous year. Revenue in same period fell 20.9 percent to Rs 41,878.88 crore compared to earlier year. JSW Steel shares advanced 1.45 percent to close at Rs 1,310.35 on Bombay Stock Exchange.

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सेबी ने एलएंडटी इनफोटेक के आईपीओ पर सफाई मांगी

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मार्केट रेगुलेटर सेबी ने एलएंडटी इनफोटेक के आईपीओ पर सफाई मांगी है। सेबी ने साफ कर दिया है कि बिना सेबी को डिटेल जानकारी मुहैया कराए कंपनी आईपीओ के प्लान| सेबी ने साफ कर दिया है कि बिना सेबी को डिटेल जानकारी मुहैया कराए कंपनी आईपीओ के प्लान पर आगे नही बढ़ सकती है।

ड्राफ्ट ऑफर डाक्यूमेंट की होगी जांच कंपनी ने ड्राफ्ट ऑफर डाक्यूमेंट सेबी के पास 13 मई को जमा कराए थे। जिसे सेबी अपने वेबसाइट पर 22 मई को अपलोड कर देगी।सेबी ने कंपनी के ड्रॉफ्ट डाक्यूमेंट पर कहा कि सेबी 30 दिनों के भीतर कंपनी के आईपीओ से जुड़ी सारी जानकारियों को जांच कर लेगी। उसके बाद ही किसी निष्कर्ष पर पहुंचा जा सकेगा।

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The Nifty50 failed to build on the momentum it had begun the day with and closed below its crucial psychological level of 7,900 on Tuesday, making a 'Gravestone Doji' pattern on the daily candlestick charts. The Nifty50 opened at 7,896.85 and closed at 7,890.75 on Tuesday. It rose to an intraday high of 7,940.10, which resulted in the formation of a long upper shadow, and slipped to 7,879.70 which made a small lower shadow on the charts. 

Indian shares posted their second straight session of gains on Tuesday, after exit polls showed a likely first-time victory for Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) in the key northeastern state of Assam, raising hopes about its reform agenda.