The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty's performance in India, gained 0.72 percent to 8,201.
Your Thursday morning briefing
Read| https://t.co/i4FTeyjU0X pic.twitter.com/LZxdDOWyIXHere are the stocks to watch out for in today's session:
Tata Steel
- Reaches agreement with trade unions for closure of its defined pension scheme.
- Will start consultations with employees next week for closure of the British Steel Pension Scheme.
- Will offer the employees a competitive defined contribution scheme.
- Proposal on pensions and other changes in the employment terms are part of the ongoing transformation plan.
- Also reached an agreement to de-risk and de-link the pension scheme from the business
- Tata Steel U.K. will continue the existing blast furnace configuration in Port Talbot until 2021.
Tata Steel offers to keep production at Port Talbot going for at least five years.
Read| https://t.co/2tzlxmdTeH pic.twitter.com/Fm8g3i58Dt
- Tata Sons: Ratan Tata asks shareholders to back Cyrus Mistry's removal from the Group.
Cyrus Mistry accuses Ratan Tata of failing to offer a single reason for his inexplicable actions.
Read| https://t.co/uqBgzR3TTN pic.twitter.com/UbUhRegWNt
- Divi's Labs: U.S. FDA issues a Form 483 with five observations post an inspection carried out at the company's unit-II in Visakhapatnam, Andhra Pradesh.
- Escorts: Completes auto products business transfer
- Adani Ports & SEZ: Signs share purchase agreement with TKM Global Gmbh, Germany, International Shipping & logistics FZE, Dubai and TM harbour Services Private Ltd to acquire 100% stake of TM Harbour Service Private Ltd.
- Tata Steel: Subsidiary TM International Logistics Ltd., sold its tug business to Adani Ports in an all-cash deal of Rs 106 crore.
- Pricol: Allots shareholders one share each of Pricol Pune for every one share held of the company.
- Phoenix Mills: Indirect subsidiary Alliance Spaces Pvt. Ltd. enters into a share purchase agreement to acquire 20 percent stake in K2A Hospitality.
- Gujarat Industries Power Company: Signs a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Ltd., for a 23.1 MW wind power project at Kuchhdi.
- IndusInd Bank: Board approves resolution for issuance of non-convertible long-term bonds aggregating to Rs 1,500 crore on a private placement basis.
- Sunil Hitech Engineers: Board approves allotment of bonus shares.
- Prestige Estates: Board approves acquisition of another 20 percent stake from its existing partners Villaland Developers Ltd., for a cash consideration of Rs 20 crore.
- Crompton Greaves: Will not pursue share purchase agreement with Pauwels Spaco Ltd. for the sale of the company's power business in Europe, North America and Indonesia.
Polaris Consulting and Services
- Promoter Virtusa Consulting Services puts 1.86 percent of the total paid up equity capital of the company for sale.
- Offer for 18.86 lakh equity shares of Rs 5 each and 18.86 lakh equity shares of face value of Rs 5 each as an upside option.
- Offer for non-retail investors remains open till December 8.
- Offer for retail investors remains open till December 9.
- Floor price for the offer is at Rs 130 per share.
Media Reports
- Jet Airways: Set to raise $300 million for expansion. (Bloomberg)
- Aarti Industries: Submits offer letter for buyback of 3.6 lakh shares to SEBI. (Financial Express)
- Hindustan Zinc: To invest Rs 630 crore to set up 115 MW of solar projects (PTI)
- IVRCL: Essel Infra in talks to buy company's unit. (Mint)
- Adani Transmission: To buy Reliance Infrastructure's Western Region System Strengthening Scheme (WRSSS) for an enterprise value of Rs 1,000 crore. (Mint)
- Tata Power: Says CERC order on tariff win-win for consumers; Mundra tariff to be also lower than current market rates. (Bloomberg)
- Gujarat Ambuja: To consider share buyback on December 13. (Bloomberg)
- Banco Products: To consider proposal for buyback of shares. (Bloomberg)
"There was some room to cut rates" and other views on the #monetarypolicy https://t.co/GBNiheqtGD
IPO Watch
Laurus Labs IPO subscribed 61 percent on day 2; offer closes today.
Earnings Reactions To Watch
- PNC Infratech
- Prestige Estates
- Rane (Madras)
- Rane Engine Valve
- GMR Infra
Earnings To Watch Today
- SAIL
- Jindal Steel & Power
- MMTC
- GOL Offshore
- Electrosteel Steels
- Finolex Industries
- NLC India
- Seamec
- Puravankara Projects
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
