Brokers watch their screens during trading hours inside a dealing room. (Photographer: Abhijit Bhatlekar/Bloomberg News)
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
Here 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
Indiabulls 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
Satin 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
Media 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
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