Stocks To Watch: Hero MotoCorp, Lupin, Coal India
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, rose 0.31 percent to 9,003.
Here is your Thursday morning briefing: Dow conquers 21,000, Asia opens stronghttps://t.co/hIZwaKIme9 pic.twitter.com/T4b1RWExOe
March 2, 2017Here are the stocks to watch out for in today's session:
- Tata Motors: The automaker's passenger and commercial vehicle sales rose 2 percent to 47,573 units in February.
- TVS Motors: The company's total sales fell 3.6 percent to 2,11,470 units in the month of February. "As part of our plans to gear up for the BS IV norms, we have completely transitioned to the production of BS IV (Bharat Stage Emission Standards) vehicles," the company said in its notification to the exchanges.
- Eicher Motor: Sale of Volvo-Eicher went up 9.3 percent to 5,499 for the month of February, 2017.
- Hero MotoCorp: Company's sales fell 4.8 percent to more than 5.2 lakh units in February 2017. The company also said that it is fully transitioned to produce BS IV compliant two-wheelers across the range from March 1, 2017.
Its was a mixed performance for car makers in February.https://t.co/X0GCLgKVla pic.twitter.com/BcZpE2nbf7
March 2, 2017
- Lupin: The pharmaceutical giant launched a generic drug in the U.S. market, used for the treatment of skin redness or swellings. Temovate Clobetasol Propionate Scalp Application, the non-generic drug, saw annual sales worth $64.1 million as of December 2016.
- Tata Consultancy Services: The company announced that its promoters will be participating in the proposed buyback of Rs 16,000 crore. The board approved the buyback on February 21 at a price of Rs 2,850 per share.
- Coal India: The company achieved 96 percent of its production target, producing 54.3 tonne of coal. It also achieved 94 percent of its sales target selling 47.73 million tonne of coal.
- Sun Pharmaceutical: The drug maker announced that several Phase-1 and Phase-3 analyses from the clinical trials of Tildrakizumab are being evaluated for treatment of moderate-to-severe plaque psoriasis. The evaluation will also be presented at the 2017 Annual American Academy of Dermatology (AAD) Meeting taking place March 3-7 in Orlando, Florida.
- Shriram City Union Finance: The company intends to raise funds through a private placement basis of issue of 2,250 non convertible debentures worth Rs 225 crore.
- Jagran Prakash: The company's music broadcasting subsidiary has begun broadcasting from its radio station at Bikanerm with a frequency of 91.1 F.M. Music Broadcast is also set to go public in March with a Rs 400 crore IPO.
- Wockhardt: The U.S. Food and Drug Administration issued a warning letter to the company's subsidiary, Morton Grove Pharmaceuticals Inc., USA. This would mean that current portfolio of the company will continue to be made available in the market. However, new approvals will be withheld till resolution.
- Sheela Foam: CRISIL upgraded the company's long term rating to CRISIL A+ from CRISIL A.
- HCL Technologies: The Reserve Bank of India granted its 'no objection' letter for the transfer of Geometric Ltd's overseas subsidiary to HCL technologies.
- NMDC: The government-run company hiked lump ore prices by 4 percent to Rs 2,425 per wet metric tonne and fines by 4.8 percent to Rs 2,185 per wet metric tonne.
- Tata Global Beverages: The company announced a multi-year expansion of partnership with Keurig Green Mountain. The expansion will facilitate the for the manufacturing, sales, licensing and distribution of the Eight O'Clock coffee and Tetley Tea brands in K-Cup pods.
- DLF: The board of directors approved to sell 159.6 million cumulative compulsorily convertible preference shares of DLF Cyber City Developers Limited, which would result into 40 percent of equity shareholding post conversion, to GIC Singapore.
- Adani Ports & SEZ: The company bought back 2,500 non convertible debentures for Rs 267 crore.
- Bank of India: The bank is raising Basel-III Compliant Additional Tier I Bonds up to Rs 500 crore with a green shoe option of Rs 500 crore by private placement. The Bonds have been rated as BWR AA (outlook Stable) by Brickwork Ratings India Pvt Ltd. and CRISIL A+ / Negative by CRISIL Limited.
- Grasim Industries: National Company Law Tribunal meeting will be held on April 6, 2017 in order to approve the merger between Grasim and Aditya Birl Nuvo.
- Quadrant Televentures: The company will seek its shareholder's approval to raise non convertible debenture worth Rs 1,200 crore.
- Dewan Housing Finance: The company allotted non convertible debentures worth Rs 1,500 crore, it said in a notification to the exchanges.
Media Reports
- JSW Steel: The company made an offer to buy the controlling stake in Monnet Ispat. (Press Trust of India)
- Bharti Airtel: Nokia and Bharti Airtel will collaborate to develop 5G and IoT applications. (Press Trust of India)
- Mahindra & Mahindra: The company will set up base outside India to reduce its dependence of Indian markets. (Economic Times)
- SAIL: The government-run company clocked the best-ever export volumes in 10 years. (Financial Express)
- Punjab National Bank: The lender plans to sell Rs 1,800 crore of its bad loans to asset reconstruction companies. (Financial Express)
- Jindal Stainless: The company signed an agreement with the Defense Research and Development Organisation for the production of high nitrogen steel, used in weapon systems including missiles and battle tanks. (Economic Times)
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