Industry News

IRB Infrastructure Developers Ltd and Sterlite Power Grid are gearing up to list their Infrastructure Investment Trusts, and one of them will be the first in India to do so, according to three people aware of the development. Toll road developer IRB is looking to file its so-called draft red herring prospectus for its InvIT as early as around the middle of August, said one of the three people cited above. InvITs are trusts that manage income-generating..."/>
Sterlite?Power,?IRB Infrastructure inch closer to InvIT launches [Mint, New Delhi]
Mint, New Delhi, Monika Halan column [Mint, New Delhi]
Real estate firms stare at dull Q1 results [Mint, New Delhi]
State Bank of Travancore reported a net loss of Rs.743 crore in the quarter ended June, as compared with a net profit of Rs.81.32 crore a year ago, owing to higher provisions and a drop in net interest income. The bank's total provisions during the April-June period stood at Rs.1, 130 crore, higher than the Rs.301.57 crore reported last year. Gross non-performing assets in the three-month period doubled on a quarter-on-quarter basis to Rs.6, 401 crore."/>
State Bank of Travancore reports net loss of Rs743 crore in June quarter [Mint, New Delhi]
IDFC Bank Ltd said its fiscal first quarter profit rose 60% to Rs.264.76 crore from Rs.165.06 crore in the preceding March quarter. The earnings can't be compared with the previous year as IDFC Bank started operations in October. IDFC Bank and Bandhan Bank had received in-principle approvals from the Reserve Bank of India in 2014 to start universal banks."/>
IDFC Bank Q1 profit rises 60% to Rs264.76 crore [Mint, New Delhi]
Adani Transmission Ltd. The firm plans to raise about $400 million through a dollar bond issue and has mandated seven banks to market it to offshore investors, according to two bankers aware of..."/>
Adani Transmission latest to tap offshore bonds as investor interest revives [Mint, New Delhi]
Apollo Global Management Llc has invested Rs.400 crore in Noida-based developer Logix Group through the structured debt route, in the New York-based investor's first real estate transaction in India. The money will be used for last-mile funding to complete the construction of four ongoing residential developments and a commercial office project in Noida, on the outskirts of Delhi. The investment has been made from the..."/>
Apollo Global invests Rs400 crore in Noida-based Logix Group [Mint, New Delhi]
Legg Mason Inc. CEO Joseph Sullivan told shareholders Tuesday that he was disappointed in the Baltimore money management firm's performance in its 2016 fiscal year, but that he has "greater conviction than ever" about the firm's long-term strategy. Legg reported a loss of $25 million in its fiscal 2016, which ended March 31, down from a profit of $237.1 million the year before. The firm will release the results of its first quarter of fiscal 2017 on Wednesday."/>
Legg Mason CEO sees opportunity in market disruption [The Baltimore Sun]
T. Rowe Price Group fell more than 4 percent in Tuesday trading after the Baltimore money management firm reported second-quarter earnings that missed analyst expectations. Not only were results depressed by a one-time charge to make right with investors affected by the firm's botched Dell vote in 2013, but its revenue slipped on reduced fees from investment advising. T. Rowe Price reported that it earned $195.3 million, a 41 percent drop from the $333.2..."/>
T. Rowe Price shares slide on disappointing earnings [The Baltimore Sun]
Synovus Financial Corp. and Columbus Bank and Trust."/>
Isakson stops in Columbus on pro-jobs tour amid U.S. Senate re-election campaign [Columbus Ledger-Enquirer, Ga.]
California Republic Bancorp, a bank holding company for California Republic Bank, announced that S&P Global Ratings has raised its ratings on seven note classes and affirmed the ratings on 34 note classes from nine California Republic Auto Receivables Trust series, totaling approximately $3.0 billion, issued by CRART from 2014 thru 2016.. For more information please see the full press release from S&P Global Ratings at:. rand= u5b6s767EH&sid= 1678556& sind=..."/>
S&P Global Ratings Upgrades or Affirms Credit Ratings on $3.0 Billion of California Republic Bancorp Prime Auto Loan Backed Securities
Apple, looking for ways to counter continued declines in sales of the iPhone, is now saying that the company's new growth engine rests on consumers continuing to buy apps, music and switch over to Apple Pay. Apple delivered its fiscal third quarter results Tuesday and the highlight was the ongoing rise of its so-called services business, which totaled $5.98 billion in revenue, a 19 percent increase from the same period a year ago. Services-- which include sales..."/>
Apple's services gains lead better-than-expected quarterly results [East Bay Times]
Summit Bank reported on Tuesday net income of $1.25 million for the second quarter, which was a 27- percent decrease from the same period a year before. The Santa Rosa-based institution said the three months ending on June 30 resulted in a diluted earnings per share of 26 cents compared with 35 cents from the same period in 2015.. The bank has declared a dividend of 12 cents per share to be paid on Aug. 26 to those owning stock as of Aug. 18.."/>
Summit State Bank reports decrease in net income [The Press Democrat, Santa Rosa, Calif.]
Apple, looking for ways to counter continued declines in sales of the iPhone, is now saying that the company's new growth engine rests on consumers continuing to buy apps, music and switch over to Apple Pay. Apple delivered its fiscal third quarter results Tuesday and the highlight was the ongoing rise of its so-called services business, which totaled $5.98 billion in revenue, a 19 percent increase from the same period a year ago. Services-- which include sales..."/>
Apple's services gains lead better-than-expected quarterly results [Mercury News]
Triangle Capital expects to receive net proceeds of $119.6 million from its latest secondary stock offering after pricing the 6.25 million shares it is selling. Triangle Capital announced Tuesday that the shares were priced at $19.90 each. The pricing came a day after the company unveiled its plans for a stock offering."/>
BRIEF: Raleigh's Triangle Capital expects to net $119.6 million from stock offering [The News & Observer (Raleigh, N.C.)]
UMB Financial Corp. on Tuesday reported a 23 percent increase in second-quarter earnings, with loans reaching a record level. The Kansas City-based banking company said it earned $37.3 million, or 76 cents a share, in April, May and June, compared with $30.2 million, or 65 cents a share, a year earlier. Its profits grew from higher interest earnings on loans and securities as well as higher fee income and similar income."/>
UMB reaches $10 billion in loans as profits jump 23 percent [The Kansas City Star]
Farmers Capital Bank Corporation appointed a new Director to its Board, John C. Roach.. Roach served as General Counsel to Kentucky Governor Ernie Fletcher. Recently he served as General Counsel in the Transition of Governor Matt Bevin."/>
Farmers Capital Bank Corporation Appoints John C. Roach to its Board of Directors
Timberland Bancorp, Inc. today reported net income of $2.55 million, or $0.36 per diluted common share, for its third fiscal quarter ended June 30, 2016. This compares to net income of $2.16 million, or $0.31 per diluted common share, for the quarter ended June 30, 2015 and net income of $2.38 million, or $0.34 per diluted common share, for the quarter ended March 31, 2016.."/>
Timberland Bancorp EPS Increases 16% Year-Over-Year to $0.36 for Third Fiscal Quarter of 2016
PREIT Issues Revised Sales Reconciliation Table
Cedar Realty Trust, Inc. announced today the pricing of its underwritten public offering of 5.0 million shares of its common stock on a forward basis in connection with the forward sale agreement described below, which will result in approximately $39.3 million of gross proceeds before any underwriting compensation and offering expenses. The offering is expected to close on or about August 1, 2016, subject to customary closing..."/>
Cedar Realty Trust, Inc. Announces Pricing Of Common Stock Offering

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