Zee Entertainment may advance after strong Q3 results

On a consolidated basis, Zee Entertainment Enterprises' net profit rose 50.56% to Rs 562.76 crore on 17.88% increase in net sales to Rs 2,166.77 crore in Q3 December 2018 over Q3 December 2018. Revenue growth was driven by the strong performance of broadcast business. EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter grew by 26.9% to Rs 754.30 crore and EBITDA margin stood at 34.8%. The result was announced after market hours yesterday, 15 January 2019.

Dr Reddy's Laboratories informed that the US Food and Drug Administration (USFDA) completed audit of the company's formulations Srikakulam plant (SEZ) Unit I, Andhra Pradesh on 15 January 2019. The company has been issued a Form 483 with 4 observations, which the firm is addressing. The announcement was made after market hours yesterday, 15 January 2019.

Fortis Healthcare said it has drawn down a loan from Citibank N.A. worth Rs 1100 crore for financing the contractual commitments and strategic objectives of the company. The announcement was made after market hours yesterday, 15 January 2019.

BPCL will be watched. With reference to media reports titled, ''BPCL to raise $500 million from overseas bond sale", BPCL clarified after market hours yesterday, 15 January 2019, that it has mandated joint book runners and joint lead managers to arrange a series of fixed income investor meetings in Singapore, Hong Kong and London commencing 14 January 2019 in connection with a US$ denominated 5-year senior unsecured notes offering under Regulation S which may follow, subject to market conditions.

BPCL is expected to raise funds through Notes which is classified as a prescribed capital markets product. In this connection, BPCL team is expected to hold investor meetings in Singapore, Hong Kong and London. The news article is in connection with this activity. However, BPCL does not foresee any material impact of this news article on the company. Intimation to stock exchanges will be sent once the key variables (quantum and rate) of the unsecured notes is final. Currently the issuance is subject to market conditions.

Indo Rama Synthetics (India) announced issuance of 8.30 crore equity shares via preferential issue on private placement basis to promoter group company, lndorama Netherlands B.V. (subsidiary of lndorama Ventures Public Company limited) at Rs 36 per equity share aggregating to Rs 298.80 crore. The company also issued 1.72 crore equity shares to Siam Stock Holdings at Rs 36 per equity share, aggregating to Rs 61.92 crore on private placement basis. The fund raised will be used for long-term working capital & future growth requirements. The announcement was made after market hours yesterday, 15 January 2019.

Century Plyboards (India) said it has incorporated a wholly owned subsidiary by the name Century Gabon SUARL in Gabon, South Africa on 10 January 2019. The said subsidiary has been incorporated with the object of manufacturing and trading in timber, veneer, plywood and other wood- based products. The announcement was made after market hours yesterday, 15 January 2019.

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