Stocks To Watch: Divi’s Labs, JP Associates, L&T, Neuland Labs
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,221.
Your Monday morning briefing.https://t.co/9OvHXng78A pic.twitter.com/GlISItGqY6
April 10, 2017Here are the stocks to watch out for in today's session:
Larsen & Toubro
- Board of directors appoint AM Naik as non-executive chairman for three years with effect from October 1, 2017
- Board also appoints SN Subrahmanyan as CEO and managing director with effect from July 1, 2017
Religare Enterprises
- Signed a definitive agreement with a consortium of investors led by True North Managers
- Agreement to divest 80 percent stake in Religare Health Insurance Company for Rs 1,300 crore
- Deal expected to be completed by the second half of 2017
Neuland Laboratories
- Received two observations under form 483 from the U.S. FDA for its manufacturing facility in Hyderabad
- Two observations relate to procedures followed for the annual quality standards record evaluation along with cleaning and maintenance of equipment at appropriate intervals
- Company has initiated corrective and preventive actions
Cosmo Films
- Board approves setting up of new production line for specialized polyester film at Aurangabad
- Capacity of the new production line to be 36,000 MT per annum
- Investment of Rs 250 crore to be funded via debt and internal accruals
- Line scheduled to be commissioned by the third quarter of FY18
Government gives public sector banks a deadline for the next wage revision.https://t.co/EYPRiu1HPU pic.twitter.com/zlEWvvfScH
April 9, 2017Indiabulls Ventures
- Approves preferential offer and issue of 3.88 crore equity shares at an issue price of Rs 58.40 per share tp Cinnamon Capital Ltd., a Foreign Portfolio Investor registered with SEBI
- Total equity investment by the investor amounts to Rs 226.97 crore
- Offer to augment long-term resources of the company for meeting funding requirements for business purposes
Madhucon Projects
- Joint venture with Sharda Construction & Corporation Pvt. Ltd. and Shri Satya Saibaba Construction bagged two contracts worth Rs 583.04 crore in Maharashtra on EPC Mode.
- Contract on EPC Mode for rehabilitation and upgradation of NH-166 worth Rs 173.6 crore
- Joint venture Madhucon-Shreehari-Hulu bagged a contract worth Rs 166 crore in Maharashtra on EPC mode.
Jaiprakash Associates
- Acquired 40,000 equity shares including 300 shares in which the company holds beneficial interest
- Total acquisition amounts to 80 percent of Yamuna Expressway Tolling Ltd. through direct allotment
- Yamuna Expressway Tolling Ltd. is yet to commence its business operations
- Company proposes to carry out real estate development and management of toll rights at the Yamuna Expressway
Cairn Energy gets fresh Rs 10,247-crore demand note from the Income Tax Department.https://t.co/sGBt1eeepO pic.twitter.com/nj0kbxDXU6
April 9, 2017Satin Creditcare Network
- Shareholders approve issuance of 6.58 lakh warrants on preferential basis to promoter group entity M/s Trishashna Holdings and Investments Pvt. Ltd. for Rs 455.45 per share
- Also approves issuance of 15.99 lakh equity shares on preferential basis to Asian Development Bank, a non-promoter entity for Rs 416.67 per share
- Lupin: Received U.S. FDA approval for generic Wellburtin XL Tablets, 150 and 300 mg. Wellburtin XL Tablets had U.S. sales of $755 million as of December 2016
- DB Corp: Company and promoters enter into an agreement wherein promoters and promoter group have agreed to act as a single unit in managing the affairs of the company and will collectively hold atleast 51 percent of the total paid-up equity share capital of the company
- Divi's Laboratories: U.S. FDA exempts some more products manufactured at the company's unit-II in Visakhapatnam from the import alert issued under clauses 66-40 and 99-32 of the regulations
- IndusInd Bank: Passes resolution for issuance of Basel-III compliant bonds in the nature of Debentures towards non-equity regulatory Additional Tier-I capital for face value of Rs 10 lakhs each for cash aggregating to Rs 1,000 crore on a private placement basis.
- Syndicate Bank: Lowers base rate from 9.6 percent to 9.5 percent with effect from April 10, 2017. MCLR and BPLR remain unchanged
- Apollo Tyres: Commences commercial production at its manufacturing facility in Hungary from April 7, 2017
- Bank of Maharashtra: To hold EGM on May 3, 2017 for shareholders' approval to issue equity shares to Government of India via preferential allotment
- Kotak Mahindra Bank: Issues certificate of Registration to Kotak Infrastructure Debt Fund Ltd. to commence business of a non-banking financial institution as an Infrastructure Debt Fund
- Strides Shasun: Completes acquisition of Perrigo's U.S. FDA approved API facility in India
- Bharat Electronics: Receives sales tax demand notice from Deputy Commissioner of Commercial Taxes in Bangalore worth Rs 808 crore
- Central Bank of India: To consider raising of equity capital via preferential allotment to Government of India
Drug pricing regulator sends notices to 165 firms for overcharging, reports @shraddha_babla.https://t.co/9773gqOdk4 pic.twitter.com/Ir0XYhCQWS
April 8, 2017Media Reports
- Torrent Pharma: Sources say company has signed a business transfer deal for Novartis' domestic women healthcare portfolio worth Rs 300 crore. (Economic Times)
- Reliance Communication: Cuts over 600 jobs in the last few weeks across functions. Asks 380 staffers to go for non-performance leave (Economic Times, PTI)
- Ballarpur Industries: Edelweiss begins loan recast, may infuse Rs 400 crore. (Mint)
- Tata Motors: JLR to introduce 10 new products in India this year. (Economic Times)
- Bharti Airtel: Inks MoU with Nokia, BSNL to build a 5G future. Global launch of 5G expected by 2020. (Economic Times)
- Sobha: Says founder S Menon sold 4 million shares in the open market. (Bloomberg)
#ThankGodItsFriday | Jyotivardhan Jaipuria lists out the two factors that may impact markets adversely.https://t.co/tjRcyUvX2S pic.twitter.com/PgMVIkb462
April 8, 2017
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
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Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
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When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
