Men look up at an electronic ticker board that indicates stock figures at the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty's performance in India, was unchanged at 8,272.
Your Monday morning briefing. https://t.co/53EGbvzCCB pic.twitter.com/PhzdElo21j
Here are the stocks to watch out for in today's session:
Aurobindo Pharma
- Company's unit to acquire Portuguese pharmaceutical firm Generis Farmaceutica for €135 million
- Management expects Generis net sales to be about €72 million in 2017 compared to € 64.8 million last year
- Aurobindo Pharma gets final approval from the U.S. FDA to manufacture Levetiracetam in sodium chloride Injection. The product will be launched later this month.
- Crimson Metal Engineering : Board approved financial assistance up to Rs 18 crore from Bank of Ceylon, Chennai.
- Lakshmi Vilas Bank : The Reserve Bank of India imposed penalty of Rs 3 crore on the bank for opening current accounts without obtaining no-objection certificate.
- Apcotex Industries: Workers of Taloja plant to go on strike from January 9.
- MIRC Electronics: Company allotted 1,55,18,417 equity shares for Rs 14.66 each to promoter Bennett Coleman & Co. Ltd.
- Celebrity Fashions: Company approved issue of 35,00,000 equity shares on preferential basis to the promoters and directors.
- EID Parry (India): The sugar maker sold 5860.35 metric tonne last month from its factories in Tamil Nadu and Puducherry.
- Orbit Exports: Company is seeking shareholders' approval for bonus issue in the ratio 1:1.
- Hindustan Construction Co: Shareholders approve conversion of loan into equity shares and issue of optionally convertible debentures up to Rs 2,000 crore on preferential basis.
- Granules India: The drug maker gets eleven observations from Infarmed, the Portuguese drug regulator, for its facility located at Gagillapur, Telangana.
- Sobha: The property developer posted a 24 percent drop in third-quarter net sales on account of demonetisation.
- BEML: Government of India to sell 26 percent stake in the company out of its shareholding of 54.03 percent.
- Sadbhav Infrastructure Projects: Company to consider issue of non-convertible debentures worth Rs 50 crore on January 11.
- SH Kelkar and Co: Company subsidiary's Keva Flavours acquired business undertaking of Gujarat Flavours.
- Indian Overseas Bank: The lender cuts one-year lending rate by 85 basis points to 8.65 percent.
- Karur Vyasa Bank: The lender cuts one-year MCLR to 9.60 percent.
- Xchanging Solutions: Chief Financial Officer Rajeev Kachhal has resigned.
- Stampede Capital: To issue bonus differential voting right shares in the ratio 1:4; record date for issue January 11.
- KEI Industries: New production line of extra high voltage cables at Chopanki plant operational.
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Media Reports
Bombay Dyeing
- To restructure its retail business
- Ropes in PwC, Microsoft, KPMG and EY to help business turn profitable by next fiscal (Economic Times)
Tata Motors
- Unit JLR buys stake in car tech firm CloudCar for $15 million. (Reuters)
- Company is betting big on emerging mobility solutions and mulling setting up innovation centres globally to be “future ready” while having a more formal presence across the world. (PTI)
- SpiceJet, Jet Airways: Expressing concern over aviation regulator ordering a review of the data collection procedure of airlines' on-time performance at four airports on IndiGo's complaint, officials from Jet Airways and SpiceJet are expected take up the issue with the DGCA this week. (PTI)
- Hindustan Petroleum Corp: The oil marketing to set up 3 more ethanol bio-refineries. (Financial Express)
- Bajaj Auto: Rejecting charges of ‘anti-worker activities' levelled by a workers' union, Bajaj Auto said the union has been raising issues which are “non-existent” and its demands are “unwarranted“. (PTI)
- Fortis Healthcare: Singh brothers, Malvinder and Shivinder, are looking to divest management control in all their key businesses through multiple transactions that will raise around Rs 5,500 crore. (Economic Times)
- Oil retailers: Petrol pump owners defer till 13 January the decision to hold credit and debit card transactions after banks put off the levy. (Mint)
- ONGC: State-run explorer is close to finalising ways to complete its $800 million projects stuck midway after the contractor, Singapore's Swiber Holdings Ltd, collapsed last year following an oil slump. (Economic Times)
- NALCO: The aluminium major plans to raise its production capacity to over 73 lakh tonnes this fiscal from about 68 lakh tonnes. (PTI)
- DLF: The Competition Commission of India has directed DLF to "cease and desist" from unfair business practices. (PTI)
- NTPC: The country's largest electricity generator says it will increase its portion of sale on power exchanges and share the benefit with the respective power distribution companies. (Business Standard)
- Steel makers: The steel ministry has sought the reduction in import duty on both coking coal and nickel, a move that may revive the sector. (PTI)
- Tata Group: Markets regulator SEBI has sought detailed explanations from some listed Tata firms on alleged violations of corporate governance and insider trading norms flagged by ousted directors Cyrus Mistry and Nusli Wadia. (PTI)
Earnings Watch
- 8K Miles Software
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