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Top Corporate news - 01 MAR 2017

Zee Entertainment completes first phase of sale of TEN Sports Zee Eentertainment completes first phase of sale of TEN Sports to Sony Pictures, positive read-thru ZEEL announced that it has completed the first phase of a two -phase sale of its sport business, TEN Sports Network to Sony Pictures and received $330 million. The first phase of transaction inter alia comprising the sale of entire equity stake of the company in Taj-India and transfer of major part of the Sports Broadcasting Business of Taj- Mauritius. Wipro board likely to consider share buyback proposal Wipro- As per media flash, Wipro board likely to consider share buyback proposal, though it did a buyback of 4 crore shares (1.62% of capital) in April 2016 Further, Wipro may use 25-30% of cash reserves as shareholder returns over three years, sentimentally positive for the stock. Eicher Motors Royal Enfield February 2017 sales grow 19% YoY Eicher Motors – 2w division (Royal Enfield) February 2017 sales grew 19% YoY to 58,439 units. The sales were marginally down on MoM basis (2% drop) due competitive pressures pointing at a market share loss. The sales numbers were marginally below estimates of 61000 units.

Posted By: CapitalStars                 Posted on: 2017-03-01 17:44:05                 Updated on: 2017-03-01 17:44:05