Stocks To Watch
SpiceJet: The Madras High Court has ordered winding up of the airline on grounds that it failed to clear debt owed to Credit Suisse AG. The order by the single-judge bench of Justice R Subramanian directed the official liquidator to take over the assets of the airline for liquidation but granted a three-week stay at the request of the company to appeal against the order.
Reliance Industries: To set up a $2-billion joint venture for chemicals production with UAE’s Ta’ziz.
Praj Industries: Announced patented product called Biosyrup to process sugarcane juice for round-the-year ethanol production.
Hindustan Zinc: Approves interim dividend of Rs 18 per share.
Brightcom Group: To buy Vuchi Media Pvt. Ltd. for Rs 566 crore.
NHPC: Approved proposal for monetization by securitization through bidding process of return on equity of Chamera-1 Power Station, Himachal Pradesh and to further monetize the return on equity of one or more power stations.
Imagicaaworld Entertainment: To reopen Mumbai water park from Dec. 17.
Jindal Steel and Power: November steel production of 6.74 lakh tonnes was up 10% year-on-year. Steel sales stood at 5.39 lakh tonnes and exports contributed 15% to the total sales volumes.
SpiceJet: The Madras High Court has ordered winding up of the airline on grounds that it failed to clear debt owed to Credit Suisse AG. The order by the single-judge bench of Justice R Subramanian directed the official liquidator to take over the assets of the airline for liquidation but granted a three-week stay at the request of the company to appeal against the order.
Reliance Industries: To set up a $2-billion joint venture for chemicals production with UAE’s Ta’ziz.
Praj Industries: Announced patented product called Biosyrup to process sugarcane juice for round-the-year ethanol production.
Hindustan Zinc: Approves interim dividend of Rs 18 per share.
Brightcom Group: To buy Vuchi Media Pvt. Ltd. for Rs 566 crore.
NHPC: Approved proposal for monetization by securitization through bidding process of return on equity of Chamera-1 Power Station, Himachal Pradesh and to further monetize the return on equity of one or more power stations.
Imagicaaworld Entertainment: To reopen Mumbai water park from Dec. 17.
Jindal Steel and Power: November steel production of 6.74 lakh tonnes was up 10% year-on-year. Steel sales stood at 5.39 lakh tonnes and exports contributed 15% to the total sales volumes.
Stocks To Watch
Mahindra & Mahindra, Reliance Industries: Reliance BP Mobility Ltd., operating under the brand name Jio-bp and Mahindra Group announced a non-binding MoU for exploring creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels.
NHPC: Approved the amalgamation of Lanco Teesta Hydro Power Ltd. with self.
Gland Pharma: Received tentative approval from the United States Food and Drug Administration for Cangrelor injection. Company may be eligible for 180 days of generic drug exclusivity.
Vedanta: Board to consider second interim dividend on equity shares on Dec. 11.
Coffee Day Enterprises: Received show cause notice from SEBI over fund flow from subsidiaries, that surfaced after investigation was done on the letter left by late managing director V.G. Siddhartha. Company says will deal with the show cause notice appropriately as advised.
Can Fin Homes: Company to consider the proposal of payment of interim dividend on Dec. 14.
United Breweries: Filed an appeal before the National Company Law Appellate Tribunal against the CCI order dated Sept. 24.
Nazara Technologies: Company through its wholly owned subsidiary i.e. Nazara Technologies FZ-LLC, is now holding 69.18% stake in Publishme Global FZ-LLC, a Turkish full service games marketing agency.
Indian Energy Exchange: Approves two-for-one bonus share issue.
HCL Technologies: Partners up with Deutsche Apotheker und Ärztebank eG (apoBank), the largest cooperative primary bank in Germany to acquire Gesellschaft für Banksysteme GmbH (gbs). Post-closing, HCL will own 51%, while apoBank will own 49% stake of gbs.
RailTel, Ircon: RailTel receives order from Ircon International for a tunnel communication system on the Dharam-Banihal section of Jammu Kashmir Rail Link Project for Rs 210.7 crore.
IndiaBulls Housing Finance: Announces public issue of NCDs aggregating up to Rs 1,000 crore.
Balrampur Chini Mills: CRISIL AA+/Stable and A1+ for long-term and short-term assigned to the company.
UPL: Invested Rs 1.3 crore in 2,996 compulsorily convertible preference shares of Allfresh Supply Management Pvt. Ltd.
Neogen Chemicals: Approves issuance of equity shares on preferential basis aggregating to Rs 225 crore to SBI Mutual Fund, Axis Mutual Fund, Plutus Wealth Management LLP and White Oak Capital. EGM fixed for Dec. 31.
JSW Steel: Says it has maintained its leadership rating of ‘A-’ in the 2021 CDP Climate Change assessment.
Asian Paints: Responded to a report by InGovern that alleges the company entered transactions with some of its related parties and failed to mitigate alleged conflict of interests.
Mahindra & Mahindra, Reliance Industries: Reliance BP Mobility Ltd., operating under the brand name Jio-bp and Mahindra Group announced a non-binding MoU for exploring creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels.
NHPC: Approved the amalgamation of Lanco Teesta Hydro Power Ltd. with self.
Gland Pharma: Received tentative approval from the United States Food and Drug Administration for Cangrelor injection. Company may be eligible for 180 days of generic drug exclusivity.
Vedanta: Board to consider second interim dividend on equity shares on Dec. 11.
Coffee Day Enterprises: Received show cause notice from SEBI over fund flow from subsidiaries, that surfaced after investigation was done on the letter left by late managing director V.G. Siddhartha. Company says will deal with the show cause notice appropriately as advised.
Can Fin Homes: Company to consider the proposal of payment of interim dividend on Dec. 14.
United Breweries: Filed an appeal before the National Company Law Appellate Tribunal against the CCI order dated Sept. 24.
Nazara Technologies: Company through its wholly owned subsidiary i.e. Nazara Technologies FZ-LLC, is now holding 69.18% stake in Publishme Global FZ-LLC, a Turkish full service games marketing agency.
Indian Energy Exchange: Approves two-for-one bonus share issue.
HCL Technologies: Partners up with Deutsche Apotheker und Ärztebank eG (apoBank), the largest cooperative primary bank in Germany to acquire Gesellschaft für Banksysteme GmbH (gbs). Post-closing, HCL will own 51%, while apoBank will own 49% stake of gbs.
RailTel, Ircon: RailTel receives order from Ircon International for a tunnel communication system on the Dharam-Banihal section of Jammu Kashmir Rail Link Project for Rs 210.7 crore.
IndiaBulls Housing Finance: Announces public issue of NCDs aggregating up to Rs 1,000 crore.
Balrampur Chini Mills: CRISIL AA+/Stable and A1+ for long-term and short-term assigned to the company.
UPL: Invested Rs 1.3 crore in 2,996 compulsorily convertible preference shares of Allfresh Supply Management Pvt. Ltd.
Neogen Chemicals: Approves issuance of equity shares on preferential basis aggregating to Rs 225 crore to SBI Mutual Fund, Axis Mutual Fund, Plutus Wealth Management LLP and White Oak Capital. EGM fixed for Dec. 31.
JSW Steel: Says it has maintained its leadership rating of ‘A-’ in the 2021 CDP Climate Change assessment.
Asian Paints: Responded to a report by InGovern that alleges the company entered transactions with some of its related parties and failed to mitigate alleged conflict of interests.
Stocks To Watch 10/12/2021
Bajaj Electricals: To review its corporate structure to unlock growth and consider demergers, subsidiarization and strategic partnerships. Board has authorised management to consider housing power transmission and power distribution business verticals as a standalone legal entity.
Karnataka Bank: Conferred with two DigiDhan awards instituted by the government for achieving the target with highest percentage in BHIM UPI transactions.
HCL Technologies: Named Santhosh Jayaram as Global Head of Sustainability.
HFCL: Approved the allocation of 8.72 crore shares at a price of Rs 68.75 each via qualified institutional placement.
Marksans Pharma: U.K. MHRA has granted authorisation to the company’s wholly owned subsidiary Relonchem Ltd. for Loperamide 2mg hard capsules.
Gujarat Gas: CRISIL issued AA+/Positive long-term rating for its total bank loan facilities of Rs 2,350 crore.
Raymond: Wholly-owned subsidiary JK Files and Engineering files for Rs 800-crore IPO.
Dr. Reddy’s Labs: Launches Venlafaxine ER Tablets in the U.S.
Deepak Fertilisers and Chemicals: Subsidiary Smartchem Technologies Ltd. to invest Rs 2,200 crore in its global scale technical ammonium Nitrate Plant in Gopalpur, Odisha.
Bajaj Electricals: To review its corporate structure to unlock growth and consider demergers, subsidiarization and strategic partnerships. Board has authorised management to consider housing power transmission and power distribution business verticals as a standalone legal entity.
Karnataka Bank: Conferred with two DigiDhan awards instituted by the government for achieving the target with highest percentage in BHIM UPI transactions.
HCL Technologies: Named Santhosh Jayaram as Global Head of Sustainability.
HFCL: Approved the allocation of 8.72 crore shares at a price of Rs 68.75 each via qualified institutional placement.
Marksans Pharma: U.K. MHRA has granted authorisation to the company’s wholly owned subsidiary Relonchem Ltd. for Loperamide 2mg hard capsules.
Gujarat Gas: CRISIL issued AA+/Positive long-term rating for its total bank loan facilities of Rs 2,350 crore.
Raymond: Wholly-owned subsidiary JK Files and Engineering files for Rs 800-crore IPO.
Dr. Reddy’s Labs: Launches Venlafaxine ER Tablets in the U.S.
Deepak Fertilisers and Chemicals: Subsidiary Smartchem Technologies Ltd. to invest Rs 2,200 crore in its global scale technical ammonium Nitrate Plant in Gopalpur, Odisha.
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Stocks To Watch
Vedanta: Company approves an interim dividend of Rs 13.5 per share, amounting to Rs 5,019 crore. Record date for the purpose of payment of dividend is December 18. This is the second interim dividend approved by Vedanta for FY2021-22.
Tega Industries: Company's shares to list on bourses today.
Union Bank of India: Additional Tier-I Bonds (Basel III) of Rs 1500 crore assigned AA/Stable rating by CRISIL.
Minda Industries: To enhance two-wheeler alloy wheel capacity by another two million per annum at Supa, Maharashtra. Another subsidiary to also expand its 4W alloy wheel capacity by 30,000 wheels per month at Gujarat plant.
PowerGrid Corporation: To consider interim dividend on Dec. 15.
Greenlam Industries: To consider proposal of stock split.
Burger King India: Board to meet on Dec. 15 to consider and approve the proposal to raise funds by way of further issue of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or other permissible modes.
Alembic Pharmaceuticals: Announces Seed Round Investment in Rigimmune.
Aurobindo Pharma: Gilead sues Aurobindo to block copies of Letairis drug.
Cadila Healthcare: Gets tentative approval for Cariprazine capsules.
Godrej Properties: Acquires 100% in Yerwada Developers.
Wabco India: To change name to ZF Commercial Vehicle Control Systems India subsequent to related party transactions. Both transaction and name change are subject to shareholder approval.
Jubilant Industries: Temporarily closed down manufacturing activities at its plant located in Sahibabad, Uttar Pradesh, upon directions of Commission for Air Quality Management in NCR.
Dr Reddy’s Labs: Received approval from the U.S. Food and Drug Administration for ANDA 207577 (VeraRing).
The Phoenix Mills: Its subsidiary company Island Star Mall Developers and Canada Pension Plan Investment Board have executed a second further funding subscription agreement for the infusion of up to Rs 700 crore towards subscription of equity shares of ISML on rights basis for deployment towards construction and development of the ongoing projects of its subsidiaries in Pune, Bangalore and Madhya Pradesh.
SpiceJet: Boeing 737 Max event probed in India after mid-air emergency; SpiceJet aircraft headed to Kolkata turned back to Mumbai.
Vedanta: Company approves an interim dividend of Rs 13.5 per share, amounting to Rs 5,019 crore. Record date for the purpose of payment of dividend is December 18. This is the second interim dividend approved by Vedanta for FY2021-22.
Tega Industries: Company's shares to list on bourses today.
Union Bank of India: Additional Tier-I Bonds (Basel III) of Rs 1500 crore assigned AA/Stable rating by CRISIL.
Minda Industries: To enhance two-wheeler alloy wheel capacity by another two million per annum at Supa, Maharashtra. Another subsidiary to also expand its 4W alloy wheel capacity by 30,000 wheels per month at Gujarat plant.
PowerGrid Corporation: To consider interim dividend on Dec. 15.
Greenlam Industries: To consider proposal of stock split.
Burger King India: Board to meet on Dec. 15 to consider and approve the proposal to raise funds by way of further issue of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or other permissible modes.
Alembic Pharmaceuticals: Announces Seed Round Investment in Rigimmune.
Aurobindo Pharma: Gilead sues Aurobindo to block copies of Letairis drug.
Cadila Healthcare: Gets tentative approval for Cariprazine capsules.
Godrej Properties: Acquires 100% in Yerwada Developers.
Wabco India: To change name to ZF Commercial Vehicle Control Systems India subsequent to related party transactions. Both transaction and name change are subject to shareholder approval.
Jubilant Industries: Temporarily closed down manufacturing activities at its plant located in Sahibabad, Uttar Pradesh, upon directions of Commission for Air Quality Management in NCR.
Dr Reddy’s Labs: Received approval from the U.S. Food and Drug Administration for ANDA 207577 (VeraRing).
The Phoenix Mills: Its subsidiary company Island Star Mall Developers and Canada Pension Plan Investment Board have executed a second further funding subscription agreement for the infusion of up to Rs 700 crore towards subscription of equity shares of ISML on rights basis for deployment towards construction and development of the ongoing projects of its subsidiaries in Pune, Bangalore and Madhya Pradesh.
SpiceJet: Boeing 737 Max event probed in India after mid-air emergency; SpiceJet aircraft headed to Kolkata turned back to Mumbai.
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Stocks To Watch 14/12/2021
Ircon: Emerged as the lowest bidder for highway construction project in Punjab for Rs 1,107 crore. Completion period of the project is two years.
TVS Motor: Incorporates TVS Electric Mobility Ltd. as a wholly owned subsidiary to undertake the electric mobility business.
Wipro: Announced Wipro VisionEDGE, an omni channel advertising solution, to expand its sports, retail, transportation, and entertainment offerings.
Vedanta: Company and its group entities have settled retrospective tax with the Indian government following the amendments to the income tax law.
Piramal Enterprises: Approved the amalgamation of Shrilekha Business Consultancy Pvt. Ltd. (subsidiary in which the Company holds 74.95% stake) into Shriram Capital Ltd.
Greenlam Industries: To invest Rs 950 crore over two to three years, towards setting up of a third laminate plant and foray into plywood and particle board business.
BPCL: Ties up with Bhabha Atomic Research Centre to scale-up alkaline electrolyser technology for green hydrogen production. Company added that it has plans to expand its portfolio of renewable energy with solar, wind and biofuels and turn carbon-neutral by 2040.
Stove Kraft: ICRA has reaffirmed both the long term and short term credit rating of the company and has revised the outlook to positive from stable.
Exxaro Tiles: Incorporates wholly owned subsidiary company in the name of Exxaro Ceramic Ltd.
ITC: To hold its first-ever institutional investors and financial analysts' day starting 10:30 a.m.
PB Fintech: Incorporated wholly owned subsidiary to carry on the business of an account aggregator, which must be licenced by the Reserve Bank of India (RBI). Also approved acquisition of 70.1% stake in MyLoanCare Ventures Pvt. Ltd.
Apollo Hospitals: About 7 lakh shares at Rs 5,050 apiece in a secondary placement are being offered by the seller, according to terms of the deal obtained by Bloomberg News. The floor price is at a 3% discount to the last close of Rs 5,206.7 apiece. The seller has no intention to sell for 60 days after the deal, according to the terms
Crisil: Approved the scheme of amalgamation for merger of its wholly owned subsidiaries, CRISIL Risk and Infrastructure Solutions and Pragmatix Services Pvt. Ltd. with the company.
Ircon: Emerged as the lowest bidder for highway construction project in Punjab for Rs 1,107 crore. Completion period of the project is two years.
TVS Motor: Incorporates TVS Electric Mobility Ltd. as a wholly owned subsidiary to undertake the electric mobility business.
Wipro: Announced Wipro VisionEDGE, an omni channel advertising solution, to expand its sports, retail, transportation, and entertainment offerings.
Vedanta: Company and its group entities have settled retrospective tax with the Indian government following the amendments to the income tax law.
Piramal Enterprises: Approved the amalgamation of Shrilekha Business Consultancy Pvt. Ltd. (subsidiary in which the Company holds 74.95% stake) into Shriram Capital Ltd.
Greenlam Industries: To invest Rs 950 crore over two to three years, towards setting up of a third laminate plant and foray into plywood and particle board business.
BPCL: Ties up with Bhabha Atomic Research Centre to scale-up alkaline electrolyser technology for green hydrogen production. Company added that it has plans to expand its portfolio of renewable energy with solar, wind and biofuels and turn carbon-neutral by 2040.
Stove Kraft: ICRA has reaffirmed both the long term and short term credit rating of the company and has revised the outlook to positive from stable.
Exxaro Tiles: Incorporates wholly owned subsidiary company in the name of Exxaro Ceramic Ltd.
ITC: To hold its first-ever institutional investors and financial analysts' day starting 10:30 a.m.
PB Fintech: Incorporated wholly owned subsidiary to carry on the business of an account aggregator, which must be licenced by the Reserve Bank of India (RBI). Also approved acquisition of 70.1% stake in MyLoanCare Ventures Pvt. Ltd.
Apollo Hospitals: About 7 lakh shares at Rs 5,050 apiece in a secondary placement are being offered by the seller, according to terms of the deal obtained by Bloomberg News. The floor price is at a 3% discount to the last close of Rs 5,206.7 apiece. The seller has no intention to sell for 60 days after the deal, according to the terms
Crisil: Approved the scheme of amalgamation for merger of its wholly owned subsidiaries, CRISIL Risk and Infrastructure Solutions and Pragmatix Services Pvt. Ltd. with the company.