Industry News

Intercontinental Exchange through a designated dividend committee, authorised a five-for-one stock split of its common stock as a stock dividend, the company revealed on Thursday. All stockholders of record as of the close of market on 27 October 2016 will receive four additional shares for each share of the company's common stock held on such record date on 3 November 2016.. Also, the company's common stock will commence trading on a split-adjusted..."/>
Intercontinental Exchange approves stock split of 5-for-1 as stock dividend
St. Jude Medical in the wake of news that hundreds of thousands of batteries in its top-selling product-- implantable defibrillators-- are vulnerable to a rare but serious defect that leaves them unable to save lives. Jude Medical stock was stable Wednesday, losing just 6 cents to close at $78.35 while the wider Standard& Poor's 500 was also flat."/>
St. Jude stock stable after heart device battery disclosure [Star Tribune (Minneapolis)]
Nano Dimension Ltd, a leader in the field of 3 D Printed Electronics, today announced that the underwriters of its previously announced public offering of 1,850,000 American Depository Shares have exercised their option to purchase an additional 275,275 ADSs, at $6.50 per ADS to cover over allotments, bringing total gross proceeds from the offering to approximately $13.8 million, before deducting underwriting discounts and..."/>
Nano Dimension Ltd. Announces Exercise of Over-Allotment Option by Underwriters
Prosafe SE as first announced on 7 July 2016.. As announced, as part of the Refinancing and as approved by the Company's extraordinary general meeting on 23 August 2016, the Company has sought to carry out a reduction in the nominal value of the Company's ordinary shares, by way of a reduction of share capital without distribution. This capital reduction has been approved by the relevant authorities in..."/>
Prosafe SE : Capital reduction completed
Infosys is set to kick off the earnings season for IT companies on October 14. And considering that the IT major, along with peers Tata Consultancy Services, Cognizant and Mindtree, have lowered their guidance for the current fiscal, the sector looks set for one of its worst financial quarters. Besides, the impact of Brexit and lower spending by clients in the banking, financial services and insurance segment are also likely to take a toll on IT companies' balance sheets."/>
Earnings season ahead, IT firms stare at a slowdown [Hindustan Times, New Delhi]
Axis Bank Ltd, Kotak Mahindra Bank Ltd, The Federal Bank Ltd and DBS Bank Ltd have enabled eKYC for opening bank account online or from mobile phones. To open an account using eKYC, you need to have an Aadhaar number."/>
How to open a bank account via an app [Mint, New Delhi]
Allstate Insurance has started a recruitment campaign to get 100 new agency owners and 1,200 sales agents in Texas this year, the Dallas-area company announced Wednesday. It's looking for 10 agency owners and 100 sales agents in El Paso and other areas of West Texas. "Texas continues to see population expansion in cities across the state, which presents opportunities" for entrepreneurs and for licensed sales agents, David Campbell, Allstate's Texas strategic deployment..."/>
Allstate looks for Texas agency owners, agents [El Paso Times, Texas]
IndusInd Bank shares have easily beaten the sector indices in terms of gains over the last six weeks should not be a surprise anymore. The private sector lender's results for the September quarter showed enough improvement to cheer investors, starting with a net profit growth of 26% to Rs704.25 crore and an all-time high net interest margin of 4%. Since 1 September, its shares have risen 3.19% while banking indices fell by 2%."/>
IndusInd Bank's bull run continues [Mint, New Delhi]
Moody's investors service expects Bharti Airtel Ltd to see continued growth despite an increase in competitive intensity."/>
BRIEF: Moody's forecasts continued growth for Bharti Airtel despite competition [Mint, New Delhi]
Azure Power Global Ltd debuted on the New York Stock Exchange on Wednesday at $16.12, lower than the issue price of $18. The issue price itself was lowered earlier in the day from the previous range of $21-23 a share. The first Indian renewable energy company to list in the US stock market sold 3.41 million shares in its initial public offering, including 2.24 million new shares and 1.16 million shares from existing shareholders."/>
Azure Power debuts at a discount on NYSE [Mint, New Delhi]
Crisil report released on Wednesday said. "As many as 13 of the 21 PSBs reported losses for fiscal 2016, and almost half of them could do so again this fiscal," the report noted. As on date, 14 PSBs have Rs.22, 600 crore of AT1 bonds outstanding."/>
Hard for public sector banks to service coupon on AT1 Bonds: Crisil [Mint, New Delhi]
IndusInd Bank Ltd reported on Wednesday a 26% increase in its second quarter net profit on higher interest income and stable asset quality. Net profit rose to Rs704.26 crore in the September quarter from Rs560 crore a year ago. Thirteen analysts polled by Bloomberg had estimated a profit of Rs707.2 crore."/>
Indusind Bank Q2 profit rises 25.7% to Rs704.26 crore [Mint, New Delhi]
State Bank of India chairperson Arundhati Bhattacharya will be India's nominee for the post of managing director and chief operating officer at the World Bank, two senior government functionaries told HT. If she succeeds, Bhattacharya, 60, will be the first Indian to be holding an important managerial position in an international financial institution. The closest was in 2001 when former deputy chairman of the Planning Commission Montek Singh Ahluwalia was..."/>
SBI's Arundhati Bhattacharya in race for top World Bank job [Hindustan Times, New Delhi]
PPL Corp. executives explained Wednesday how they plan to cope with the country's increasingly bumpy exit from the European Union, known as the Brexit. Based in downtown Allentown, PPL is one of the region's largest employers. It became the sole owner of Western Power Distribution in 2002, and in 2011 it expanded its British holdings by purchasing the United..."/>
PPL addresses Brexit effects [The Morning Call (Allentown, Pa.)]

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