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ACC may advance on strong Q2 results

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ACC's consolidated net profit rose 32.65% to Rs 326.23 crore on 20.32% rise in total to Rs 3985.40 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 17 July 2017. said that cement sales volume rose 10.1% to 6.74 million tonnes in Q2 June 2017 over Q2 June 2016. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38% to Rs 637 crore in Q2 June 2017 over Q2 June 2016. Operating margin improved to 19% in Q2 June 2017 from 16% in Q2 June 2016.

State Bank of India announced that its subsidiary, SBI Life Insurance Company has filed a draft red herring prospectus with the SEBI for an initial public offer of up to 12 crore equity shares of face value of Rs 10 each, representing 12% of its paid up equity share capital for cash, through an offer for sale by State Bank of India and BNP Paribas Cardif S.A of up to 8 crore equity shares (representing 8% of the paid up share capital) and up to 4 crore equity shares (representing 4% of the paid up share capital), respectively. The announcement was made after market hours yesterday, 17 July 2017.

Axis Bank has reviewed and decided to keep the Marginal Cost of Funds based Lending Rates (MCLR) of the bank unchanged. This will be effective from 18 July 2017. The announcement was made after market hours yesterday, 17 July 2017.

Tata Consultancy Services announced that Zions Bancorporation has gone live on TCS BaNCS for core banking with successful transition of Zion Bancorporation's consumer lending business over to the TCS BaNCS platform. The announcement was made after market hours yesterday, 17 July 2017.

Shares of Dr Reddy's Laboratories turn ex-dividend today, 18 July 2017 for dividend of Rs 20 per share for the year ended 31 March 2017.

CRISIL and will announce April-June 2017 today, 18 July 2017.

Indiabulls Real Estate scheduled a board meeting on 24 July 2017, to consider issuance of Non-Convertible Redeemable Debentures, on private placement basis. The announcement was made after market hours yesterday, 17 July 2017.

C & C Constructions has executed a definite term sheet for sale of its entire stake in two of its road SPVs. The sale process is likely to be completed in around three months. The board has already granted its permission for the same. The announcement was made after market hours yesterday, 17 July 2017.

Zee Media Corporation announced that the company has established a wholly owned subsidiary in the name and style of Ez-Mall Online and has subscribed to 700 equity shares of Re. 1 each therein. This wholly owned subsidiary shall engage in web-based e-commerce business, to complement TV-based e-commerce business currently housed under company's 49% associate entities viz., Today Merchandise and Today Retail Network. The announcement was made after market hours yesterday, 17 July 2017.

Shriram Transport Finance Company announced that the Allotment Committee - Non-Convertible Debentures (NCDs) of the company in its meeting held 17 July 2017 has approved and allotted 3,000 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs 10 lakh each, aggregating to Rs 300 crore on private placement basis. The announcement was made after market hours yesterday, 17 July 2017.

NHPC said that the meeting of board of directors is scheduled to be held on 27 July 2017 to consider the proposal of raising corporate debentures/bonds aggregating to Rs 5000 crore on private placement Basis subject to Shareholders' Approval through special resolution in the next Annual General Meeting of the company. The announcement was made after market hours yesterday, 17 July 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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