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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.
SAIL – Price Action Indicates Trapped Buyers within the Uptrend
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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.
Stocks To Watch👉 15/12/2021
HDFC: Acquires 50 lakh shares or 8.42% in Ansal Housing Ltd. through invocation of pledged shares to recover part outstanding dues against loans.
Aptus Value Housing Finance India: ICRA upgrades the company's credit rating to 'AA-' from 'A+' while reviewing the existing ratings.
DB Realty: Abandons preferential issue of convertible warrants after delay in process of obtaining valuation report, in the same time of which share price has risen across all real estate companies due to overall market conditions. Says it is exploring various options of raising funds.
HDFC Bank: Announces board meeting on Jan. 15 to consider Q3 results.
HDFC Mutual Fund: Approved incorporation of a wholly owned subsidiary in Gujarat International Finance Tec-City in the name of HDFC AMC International (IFSC) Ltd. which will act as an investment manager to schemes to be launched under alternative investment funds from time to time, international funds, provide other investment advisory services and offer separately managed account.
FSN E-Commerce Ventures: Launches 'ModiFace', L'Oreal's AI-powered technology. Nykaa Fashion launches NA-KD, one of Europe's fastest-growing fashion brands in India.
Deepak Nitrite: Company to meet on Dec. 22 to consider raising of funds by way of qualified institutions placement, private placement, public issue of equity/debt securities, preferential issue or through any other permissible mode.
Union Bank: Brickwork Ratings has withdrawn the unutilised rating of the Basel III Compliant Additional Tier-I bond and reaffirmed the ratings of outstanding Additional Tier-I and Tier-II bonds as ‘stable’.
Mold-Tek Packaging: Approved the opening of qualified institutional placement on Dec. 14 at a floor price of Rs 722.4 per share.
ITC: Concluded analyst meet. Company said capex would be around Rs 3,000 crore per annum for next three years, to develop new high margin opportunities in personal care portfolio, no demerger plan announced.
Dr Reddy's: Entered an agreement with Prestige BioPharma for supply and commercialisation of trastuzumab biosimilar in Latin America and Southeast Asia.
Zee Media Corp.: Passed resolutions related to alteration of memorandum of association, adoption of newly substituted Articles of Association, issue of up to 13.50 crore convertible warrants to the promoter and settlement with Diligent Media Corp.
GAIL: To hire new LNG vessel from Mitsui OSK Lines.
Burger King India: To consider proposal of fund raising plan.
Power Grid Corp. of India: Board to consider mid-year dividend.
HDFC: Acquires 50 lakh shares or 8.42% in Ansal Housing Ltd. through invocation of pledged shares to recover part outstanding dues against loans.
Aptus Value Housing Finance India: ICRA upgrades the company's credit rating to 'AA-' from 'A+' while reviewing the existing ratings.
DB Realty: Abandons preferential issue of convertible warrants after delay in process of obtaining valuation report, in the same time of which share price has risen across all real estate companies due to overall market conditions. Says it is exploring various options of raising funds.
HDFC Bank: Announces board meeting on Jan. 15 to consider Q3 results.
HDFC Mutual Fund: Approved incorporation of a wholly owned subsidiary in Gujarat International Finance Tec-City in the name of HDFC AMC International (IFSC) Ltd. which will act as an investment manager to schemes to be launched under alternative investment funds from time to time, international funds, provide other investment advisory services and offer separately managed account.
FSN E-Commerce Ventures: Launches 'ModiFace', L'Oreal's AI-powered technology. Nykaa Fashion launches NA-KD, one of Europe's fastest-growing fashion brands in India.
Deepak Nitrite: Company to meet on Dec. 22 to consider raising of funds by way of qualified institutions placement, private placement, public issue of equity/debt securities, preferential issue or through any other permissible mode.
Union Bank: Brickwork Ratings has withdrawn the unutilised rating of the Basel III Compliant Additional Tier-I bond and reaffirmed the ratings of outstanding Additional Tier-I and Tier-II bonds as ‘stable’.
Mold-Tek Packaging: Approved the opening of qualified institutional placement on Dec. 14 at a floor price of Rs 722.4 per share.
ITC: Concluded analyst meet. Company said capex would be around Rs 3,000 crore per annum for next three years, to develop new high margin opportunities in personal care portfolio, no demerger plan announced.
Dr Reddy's: Entered an agreement with Prestige BioPharma for supply and commercialisation of trastuzumab biosimilar in Latin America and Southeast Asia.
Zee Media Corp.: Passed resolutions related to alteration of memorandum of association, adoption of newly substituted Articles of Association, issue of up to 13.50 crore convertible warrants to the promoter and settlement with Diligent Media Corp.
GAIL: To hire new LNG vessel from Mitsui OSK Lines.
Burger King India: To consider proposal of fund raising plan.
Power Grid Corp. of India: Board to consider mid-year dividend.
Stocks To Watch 16/12/2021
Wipro: Introduced regulatory literature monitoring for pharmaceutical organizations by entering a managed services engagement with Springer Nature. Also, signed an agreement to acquire LeanSwift Solutions, a Florida, US headquartered system integrator of Infor Products.
Cipla: Entered agreement to acquire up to 33% partnership interest in Clean Max Auriga Power LLP to enhance the share of renewable power source in its operation and to comply with regulatory requirements for being a ‘captive user’ under electricity laws.
Sun Pharma: One of its wholly owned subsidiaries has received final approval from US FDA for its Abbreviated New Drug Application (ANDA) for generic Amphotericin B Liposome injection.
Reliance Industries: CCI approves acquisition of 40% shareholding in Sterling and Wilson Renewable Energy Ltd. by Reliance New Energy Solar Ltd.
Jubilant Industries: Company’s wholly owned material subsidiary, Jubilant Agri and Consumer Products Ltd. has restarted manufacturing operations at its Sahibabad plant in compliance with orders issued by the CAQM.
ICICI Bank: RBI levied penalty of Rs 30 lakh for non-compliance with norms on levying fees against non-maintenance of minimum balance in savings accounts.
Punjab National Bank: RBI levied penalty of Rs 1.8 crore on the basis of supervisory evaluation of the bank's financial position as on March 31, 2019.
Arvind Fashions: CARE A- (negative outlook)/CARE A2+ rating reaffirmed for its long term and short-term bank facilities, respectively.
PowerGrid Corp.: Approved the payment of interim dividend of Rs 7 per share, to be paid on Jan. 11.
Adani Transmission: Signed share purchase agreement with Adani Ports and Special Economic Zone for acquisition of MPSEZ Utilities Limited for Rs 116.27 crores based on independent valuers’ report.
Future Enterprises: Commercial papers of the company converted into Working Capital Term Loan since it opted for one-time restructuring. Therefore, rating of commercial papers moved to ‘IVR D’ (Issuer not cooperating category).
Indiabulls Housing Finance: Blackstone, ADIA said to near 11% stake purchase from founder Sameer Gehlaut. The deal could be valued at Rs 1,400 crore, according to Bloomberg.
Indiabulls Real Estate: Company has allotted NCDs aggregating Rs. 75 crore.
Infosys: Board of directors to meet on Jan. 11 and 12 to consider Q3 results.
Zee Media: The company’s settlement agreement with Diligent Media Corp. was rejected by the latter’s shareholders.
Adani Ports: Adani Ports Technologies Pvt, wholly owned subsidiary, in joint venture with Empezar Software Labs Pvt. has incorporated a subsidiary company named EZR Technologies Pvt with share participation in the ratio of 51:49.
Sapphire Foods: Lock-in period for anchor investors after IPO opens up on Dec. 16.
TVS Motor: Expands partnership with BMW Motorrad for EVs.
Tata Consultancy Services: Upgraded to A by Fitch, Outlook Stable.
Ashok Leyland: Partners Combat Vehicles to develop 600hp engine.
Wipro: Introduced regulatory literature monitoring for pharmaceutical organizations by entering a managed services engagement with Springer Nature. Also, signed an agreement to acquire LeanSwift Solutions, a Florida, US headquartered system integrator of Infor Products.
Cipla: Entered agreement to acquire up to 33% partnership interest in Clean Max Auriga Power LLP to enhance the share of renewable power source in its operation and to comply with regulatory requirements for being a ‘captive user’ under electricity laws.
Sun Pharma: One of its wholly owned subsidiaries has received final approval from US FDA for its Abbreviated New Drug Application (ANDA) for generic Amphotericin B Liposome injection.
Reliance Industries: CCI approves acquisition of 40% shareholding in Sterling and Wilson Renewable Energy Ltd. by Reliance New Energy Solar Ltd.
Jubilant Industries: Company’s wholly owned material subsidiary, Jubilant Agri and Consumer Products Ltd. has restarted manufacturing operations at its Sahibabad plant in compliance with orders issued by the CAQM.
ICICI Bank: RBI levied penalty of Rs 30 lakh for non-compliance with norms on levying fees against non-maintenance of minimum balance in savings accounts.
Punjab National Bank: RBI levied penalty of Rs 1.8 crore on the basis of supervisory evaluation of the bank's financial position as on March 31, 2019.
Arvind Fashions: CARE A- (negative outlook)/CARE A2+ rating reaffirmed for its long term and short-term bank facilities, respectively.
PowerGrid Corp.: Approved the payment of interim dividend of Rs 7 per share, to be paid on Jan. 11.
Adani Transmission: Signed share purchase agreement with Adani Ports and Special Economic Zone for acquisition of MPSEZ Utilities Limited for Rs 116.27 crores based on independent valuers’ report.
Future Enterprises: Commercial papers of the company converted into Working Capital Term Loan since it opted for one-time restructuring. Therefore, rating of commercial papers moved to ‘IVR D’ (Issuer not cooperating category).
Indiabulls Housing Finance: Blackstone, ADIA said to near 11% stake purchase from founder Sameer Gehlaut. The deal could be valued at Rs 1,400 crore, according to Bloomberg.
Indiabulls Real Estate: Company has allotted NCDs aggregating Rs. 75 crore.
Infosys: Board of directors to meet on Jan. 11 and 12 to consider Q3 results.
Zee Media: The company’s settlement agreement with Diligent Media Corp. was rejected by the latter’s shareholders.
Adani Ports: Adani Ports Technologies Pvt, wholly owned subsidiary, in joint venture with Empezar Software Labs Pvt. has incorporated a subsidiary company named EZR Technologies Pvt with share participation in the ratio of 51:49.
Sapphire Foods: Lock-in period for anchor investors after IPO opens up on Dec. 16.
TVS Motor: Expands partnership with BMW Motorrad for EVs.
Tata Consultancy Services: Upgraded to A by Fitch, Outlook Stable.
Ashok Leyland: Partners Combat Vehicles to develop 600hp engine.