An electronic board indicates the latest stock figures at the National Stock Exchange (NSE) in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty's performance in India, rose 0.2 percent to 8,212.
Your Wednesday morning briefing.https://t.co/TaO7saiS4q pic.twitter.com/V7ohw5wN35
Here are the stocks to watch out for in today's session:
Wockhardt
- Gets warning letter from U.S. FDA for Ankleshwar plant.
- U.S. FDA found four violations and two deviations from current good manufacturing practice regulations.
- Letter also raises issue of data integrity remediation.
- U.S. FDA has warned the company of withholding approval of any new applications or supplements listing it as a drug manufacturer.
Wockhardt's Gujarat plant comes under the US drug regulator's radar... again.https://t.co/la9SwdZrBg pic.twitter.com/iVlBnrZsJq
HDFC
- Cuts home loan rates by 40-45 basis points.
- For loans upto Rs 75 lakh, interest rates stand at 8.65 percent for women and 8.70 percent for others.
- For loans above Rs 75 lakh, interest rates now stand at 8.70 percent for women and 8.75 percent for others.
- Profits on sale of investment for quarter ending December stood at Rs 3 crore compared to Rs 57 crore a year earlier.
- Income from dividend rose 32 percent to Rs 179 crore.
- Loans sold in the last 12 months amount to Rs 15,201 crore.
Home loans get cheaper. HDFC cuts rates by 40-45 basis points, reports @alexandermats. https://t.co/6ozvzV7vch pic.twitter.com/4tGJAFJdIz
Bharti Airtel
- To offer free data for 12 months worth up to Rs 9,000 to customers who switch to 4G
- 12 month offer open to any customer with a 4G handset not currently on the Airtel network.
- Offer open to customers across India and valid till February 28, 2017.
- Indiabulls Housing Finance: The company reduced its home loan rates by 45 basis points to 8.65 percent for loans upto Rs 75 lakh to women. For others, the rates stand at 8.70 percent.
- Inditrade Capital: The financial services provider's step down subsidiary, Edel Commodities Trading sold its stakes in Edelweiss Commodities Chad SARL and Edelweiss Commodities Nigeria for Rs 2 crore.
- Seamec: Diving services provider's Managing Director C.J. Rodricks has resigned from his services with effect from March 31, 2017.
- Corporation Bank: The lender reduced its one-year marginal cost of funds-based lending rate by 70 basis points to 8.75 percent.
- Bank of India: State-run lender reduced lending rate by up to 0.9 percent. For one year, the MCLR, or marginal cost of funds based lending rate, is now at 8.50 percent.
- Punjab and Sind Bank: Lender lowers MCLR in the range of 65 to 80 basis points depending on the maturity.
- Hikal: The maker of chemicals for the pharmaceutical industry concluded the sale of its research and development plant in Bengaluru for an undisclosed amount.
- Nandan Denim: The Reserve Bank of India allows overseas investors to invest up to 49 percent in the company.
How all the individual sectors performed in 2016. https://t.co/OpDosEQ7Ft pic.twitter.com/PGY3Wsu4Uw
- Max Ventures and Industries: Company to hold board meeting on January 9 to consider fund raising options.
- Remsons Industries: Company suffered a loss of Rs 1.29 crore due to disruptions at its plants in Gujarat, with the insurance company releasing only Rs 1.12 crore for the damage.
- Jindal Saw: Shareholders approve raising of funds worth Rs 1,000 crore via non-convertible debentures, QIP issue worth Rs 1,000 crore and GDR/ADR/FCCB issue worth $150 million.
- MOIL: Company increased prices of manganese ore in the range of 5 to 15 percent.
- SAT Industries: Company incorporates a wholly owned subsidiary named Italica Global FZC, a free zone company to operate in the UAE.
Media Reports
- Coal India: Sate-owned firm will begin the second phase of auction of coal linkages for the non-regulated sector in January and is likely to put on offer 14.5 million tonne of fuel. (PTI)
- ONGC Videsh: The overseas arm of state-owned Oil and Natural Gas Corp has won rights to bid for oil and gas development projects in Iran. (PTI)
- Yes Bank: Mid-sized private lender ties up with Bajaj Electricals for vendor financing using blockchain solution, and announced to use the technology more aggressively as it saves over 70 percent in cost. (PTI)
Paytm gets final nod to launch its payments bank, report @Mayank1029 @nsd308 https://t.co/0kg9F4U5Zx pic.twitter.com/xVWvGPJRj0
- GMR Group: The GMR Group and Tata Realty will not bid for the Navi Mumbai airport project, citing “onerous” bid conditions, among other reasons. (Business Standard)
- Mahindra & Mahindra: SsangYong Motor Co, a unit of M&M Group, recorded its highest-ever annual sales in 2016. (Economic Times)
- NMDC: State-owned miner has raised iron ore prices by up to 6.72 percent in anticipation of an increase in steel prices. (Business Standard)
- Reliance Industries: The company slashes fuel price to take on state oil firms. It's offering diesel to customers at Re 1 discount to price offered by the state-owned oil retailers. (Economic Times)
- Tata Consultancy Services: The country's largest software exporter is planning to more than double Philippines headcount to 10,000. (Economic Times)
Also Read: Fed Tightening Eases Stimulus Pressure Globally, Rajan Says
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