An employee looks on during a special holiday trading session on the occasion of Diwali, the festival of light, inside the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg)
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty's performance in India, fell 0.25 percent to 8,018.
Your Thursday morning briefing. https://t.co/dZLGrpNkYF pic.twitter.com/HWUuSQaAAW
Here are the stocks to watch out for in today's session:
Reliance Industries
- Announces successful commissioning of the first phase of their new Para-xylene plant in Jamnagar.
- Plant to double Para-xylene capacity from 2 MMTPA to 4.2 MMTPA.
- Will become the second largest Para-xylene producer in the world on commissioning of the full capacity.
- New capacity will complete the integration within Reliance's polyester value chain, leading to improved margins.
Cadila Healthcare
- Zydus acquires six brands from Merck Sharp and Dohme (MSD).
- Deal includes transfer of distribution and commercialisation rights and assignment of trademarks of all the six brands to Zydus Healthcare Ltd. in India.
- One of MSD's legal subsidiaries, Organon (India) Pvt. Ltd., has also transferred the distribution and commercialisation rights for Deca- Durabolin and Durabolin to Zydus for Nepal.
- Financial details for the deal remain undisclosed.
Phoenix Mills
- Acquires shares in its subsidiary.
- Acquires 8.72 percent stake in wholly-owned subsidiary Island Star Mall Developers Pvt. Ltd. from Pinnacle Real Estate Development Pvt. Ltd., another wholly-owned subsidiary.
- Company now holds 100 percent stake in Island Star Mall Developers and it continues to remain its wholly-owned subsidiary.
IRB Infrastructure
- Receives Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section in Rajasthan.
- Estimated cost of this project stands at Rs 1,530 crore and the concession period of the project is 20 years including construction period of 910 days.
- Company has offered premium of Rs 186.30 crore to NHAI in terms of the concession agreement.
Here are some of the other stocks in focus:
- JMC Projects: Secures new orders worth over Rs 1,457 crore.
- Goa Carbon: Company's Bilaspur Plant in Chhattisgarh commenced operations from December 27
- Pratibha Industries: Board to meet on January 04, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.
- Sasken Communications Technologies: Submits draft letter of the offer for the proposed buyback of up to 29.27 lakh equity shares at Rs 410 per share for a total consideration of Rs 120.04 crore.
- JK Tyres: To raise funds worth Rs 1,000 crore via public or private offerings, QIP or FCCBs or other options.
- Tata Chemicals: India Ratings withdraws ratings for the company.
Media Reports
- HUL: To launch mass market herbal goods to tackle Patanjali's ayurveda line. (Economic Times)
- Maruti Suzuki: Output to increase to twice that of parent Suzuki. (Economic Times)
- Axis Bank: Vatika group raises Rs 495 crore from bank. (Economic Times)
- Tata Steel: Seeks foreign investment for SEZ in Odisha. (PTI)
- Reliance Communications: Minority shareholders demands company to buyback their stake. Some PE and Hedgefunds unhappy with Brookfield deal. (Mint)
- ICICI Bank: Cuts 1-,2-,3-year retail deposit rates by 10-25 bps. (Financial Express)
- TVS Motor: Gets patent for auto hybrid transmission system. (Financial Express)
- Sun Pharma: Two killed, two injured in fire at Ahmednagar plant; no production loss reported. (Bloomberg)
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