HDFC to announce Q4 result today; here's what you should watch out for

Housing finance company HDFC is scheduled to announce with its March quarter earnings on May 13.

Research and broking firm Motilal Oswal expects HDFC to report a net profit of Rs 2,374 crore. Net Sales are expected at Rs 2,900.3 crore, the report added.

The numbers are not comparable on a YoY basis as the company will be giving out results with a different accountancy standard (IndAS).

Earnings before interest, tax, depreciation and amortisation (EBITDA) is likely to fall by 14.7 percent Y-o-Y (down 9.1 percent Q-o-Q) to Rs 2,595.3 crore.

According to a CNBC-TV18 Poll, net interest income is seen at Rs 3,079.3 crore against Rs 3,001.8 crore in the corresponding quarter of the previous year. On the other hand, net profit is seen at Rs 2,576.2 crore against Rs 2,846.2 crore.

Emkay Global Financial Services expects HDFC’s loan growth to remain healthy at ~17 percent backed by increasing market share in individual loans. The trend in sanctions in the affordable housing segment will continue to be crucial for future growth trends.

Asset quality is likely to remain stable but management commentary on developer portfolio will be a key monitorable, it added.

Research firm Narnolia is of the view that NII is expected to grow at 9 percent QoQ in 4QFY19 driven by margin expansion. AUM growth is expected to still remain under pressure with 16 percent in 4QFY19 driven by individual segment.

NIM is expected to expand in 4QFY19, driven by fall in marginal cost of borrowing by 20-30 bps while Management has altogether taken 70 bps hike in PLR from April which will help in margin expansion. Other Income is expected to decline as dividend income from HDFCAMC has declined to Rs 12 dividend per share against Rs 16 last year, the research firm added.

Key things to watch:

Stability in NIM will be positive

AUM growth could come down to 14-15 percent

GNPA below 1.25 percent will be positive for the company

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L&T acquires TIDCO's 3% stake in L&T Shipbuilding for Rs 32.74 cr

Infrastructure giant Larsen & Toubro (L&T) on Thursday said it has purchased Tamil Nadu Industrial Development Corporation Ltd's (TIDCO) 3 per cent stake in its subsidiary L&T Shipbuilding Ltd for Rs 32.74 crore.

"The company has purchased the entire stake held by Tamil Nadu Industrial Development Corporation Ltd (TIDCO) in L&T Shipbuilding Ltd (LTSB), a subsidiary company, on April 10, 2019. TIDCO held 3 per cent stake in LTSB. The same has now been acquired by L&T, to make it a wholly owned subsidiary," L&T said in a BSE filing.

L&T said it acquired TIDCO's stake pursuant to exercise of a put option which TIDCO had on Larsen & Toubro Ltd which is the promoter of L&T Shipbuilding as agreed with TIDCO at the time of inception of L&T Shipbuilding.

L&T Shipbuilding was incorporated on November 13, 2007, and currently operates a modern shipyard from Kattupalli, Chennai carrying out shipbuilding and ship related activities.

The company undertakes manufacture and building of warships, auxiliary vessels/crafts and specialised commercial ships.

In addition, Kattupalli shipyard also undertakes repairs and refits of both defence and commercial ships.

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Source: Moneycontrol

India's coal import rises 8% to 212 million tonnes in April-February

India's coal import increased by 7.8 percent to 212.11 million tonnes in the April-February period of FY19, a report said. This comes at a time when the government is looking at relaxing the timeline for the 1 billion tonne coal production target it had set earlier for Coal India (CIL), which accounts for over 80 percent of the domestic coal output.

The country produced 196.59 million tonnes (MT) of coal in April-February period of fiscal 2017-18, according to the report by mjunction services.

"During April-February 2018-19, coal and coke imports stood at 212.11 MT, about 7.89 percent increase over 196.59 MT recorded for the same period last year," it said.

Coal imports in the month of February was at 18.31 MT (provisional) as compared to 21.15 MT (revised) in January 2019, it said.

Coal and coke imports in February 2018 stood at 15.98 MT, according to mjunction's compilation.

"Coking coal imports saw a marginal decline in February, primarily due to the firm prices and not so upbeat outlook for the Indian steel sector. Real estate and auto sector's consumption of steel was down, which impacted production.

"Non-coking coal offers, however, eased during the month in select markets, leading to steady import demand," mjunction MD and CEO Vinaya Varma said.

mjunction -- a joint venture between Tata Steel and SAIL -- is a B2B e-commerce company and also publishes research reports on coal and steel verticals.

Of the total imports during February 2019, non-coking coal was at 13.86 MT, against 14.59 MT imported in January 2019, it said.

Coking coal imports were at 2.93 MT in February 2019, down against 3.32 MT a month ago.

Metallurgical coke imports during the month were at 0.26 MT, while 0.34 MT was imported in January.

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Source: Moneycontrol

L&T gains as hydrocarbon business wins contracts in range of Rs 1,000-2,500 cr

Larsen & Toubro shares gained nearly a percent after its hydrocarbon engineering business received contracts across business segments.

The stock gained more than 6 percent in last one month. At 09:35 hours IST, it was quoting at Rs 1,387.90, up Rs 8.00, or 0.58 percent on the BSE.

"The modular fabrication business of L&T was awarded a contract for Process (PAU) and Piperack (PAR) modules for a process plant, which includes procurement, fabrication, precommissioning and load-out of the modules. The contract shall be executed from L&T's modular fabrication facility (MFF) at Kattupalli near Chennai," the engineering & infrastructure major said.

It further said the business also secured orders for equipment fabrication for a refinery in Oman and construction services business secured an order for additional works for a refinery project in India.

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Source: Moneycontrol

Market Live: Sensex, Nifty open higher; Eicher Motors gains 4%

JUST IN | Bajaj Auto March 2019 sales up 18 percent at 3,93,351 units against 3,34,348 units in same month last year.

Gold Update: Gold inched up on Tuesday, but was trading near a more than three-week low touched in the previous session as the US dollar strengthened and equities rose.

Market Opens: Indian indices opened higher on Tuesday with Nifty around 11,700 level.

At 09:16 hrs IST, the Sensex is up 86.98 points or 0.22% at 38958.85, and the Nifty up 9.70 points or 0.08% at 11678.90. About 505 shares have advanced, 169 shares declined, and 43 shares are unchanged. 

The major gainers are Eicher Motors, Dr Reddys Lab, TCS, Infosys, Titan, Maruti Suzuki, Asian Paints while losers include Zee Entertainment, BPCL, Kotak Mahindra and HCL Tech.

Among the sectors, IT, Infra, FMCG, energy are trading higher, while some selling seen in the metal and banking stocks.

Rupee Opens: The Indian rupee slipped in the early trade on Tuesday. It opened lower by 12 paise at 69.27 per dollar versus Friday's close 69.15.

Market at pre-open: Benchmark indices are trading higher in the pre-opening session.

At 09:01 hrs IST, the Sensex is up 82.60 points or 0.21% at 38954.47, and the Nifty up 46.60 points or 0.40% at 11715.80.

Tata Motors, Tech Mahindra, ONGC, IndusInd Bank are trading higher.

Crude Update: Oil prices rose to fresh highs for the year on Tuesday, after a US official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations.

Asian markets trade higher: Asia shares extended their rally on Tuesday as factory activity surveys from China and the United States boosted investor confidence, triggering the largest one-day sell-off in the US Treasury market in nearly three months.

SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gain of 17 points or 0.14 percent. Nifty futures were trading around 11,751-level on the Singaporean Exchange.

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Source: Moneycontrol

Market Live: Nifty opens above 11,650, Sensex up 180 pts; Nifty Bank at record high

L&T bags order: Larsen and Toubro has won a large order from Kuwait Oil Company (KOC) in the range of Rs 2,500 to 5,000.

Market Opens: It is a positive start for the Indian indices on Monday with Nifty above 11,650 level.

At 09:18 hrs IST, the Sensex is up 189.65 points or 0.49% at 38862.56, and the Nifty up 53.10 points or 0.46% at 11677.00. About 710 shares have advanced, 222 shares declined, and 46 shares are unchanged. 

Vedanta, JSW Steel, Tata Steel, UltraTech Cement, Adani Ports, Bharti Airtel, Bajaj Auto, Eicher Motors, M&M  are among major gainers on the indices, while losers are Cipla, HCPL, BPCL, IOC, ONGC and Zee Ent.

Except energy, all other sectoral indices are trading higher led by metal, PSU bank, auto, infra, IT and pharma.

MOIL production update: The company has achieved the highest-ever turnover of Rs 1440 crore during financial year 2018-19, registering a growth of 9 percent over previous year. Core production jumped 15 percent during the year, while total production crossed 13 lakh MT in FY’19.

Money market is closed for trading today for banks' closing day.

Market at pre-open: Benchmark indices are trading higher in the pre-opening with Nifty above 11,650.

At 09:02 hrs IST, the Sensex is up 173.03 points or 0.45% at 38845.94, and the Nifty up 29.90 points or 0.26% at 11653.80.

Vedanta, JSW Steel, ICICI Bank, Bajaj Auto, are trading higher in pre-opening session, while Cipla is trading lower.

Crude Update: Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.

SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gain of 48.50 points or 0.42 percent. Nifty futures were trading around 11,724-level on the Singaporean Exchange.

Asian markets trade higher: Asian stocks rose on Monday, as signs of progress in US-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May’s proposed Brexit deal added to the pound’s recent woes.

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Source: Moneycontrol

DLF raises Rs 3,173 crore via QIP to prepay debt

Realty major DLF on March 29 said it has raised Rs 3,173 crore by selling shares to institutional investors through its QIP offer. DLF, the country's largest real estate firm in market value, would utilise this amount mainly to prepay debt, which stood at around Rs 7,000 crore at the end of December 2018.

On Monday, the company had launched its qualified institutional placement (QIP) issue, offering up to 17.3 crore shares to investors. The issue closed on March 28.

In a regulatory filing, DLF Friday informed that the Securities Issuance Committee has approved the allotment of 17.3 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 183.40 per share, aggregating to about Rs 3,172.82 crore.

Sources on March 26 had said that DLF's QIP issue has been oversubscribed by two times, enabling the company to raise around Rs 3,200 crore.

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Source: Moneycontrol

Market Live: Nifty opens above 11,600, Sensex up 100 pts; rupee opens higher

Market Opens: It is a strong start for the April F&O series on Friday with Nifty above 11,600 level.

At 09:18 hrs IST, the Sensex is up 171.30 points or 0.44% at 38717.02, and the Nifty up 49.60 points or 0.43% at 11619.60.  About 592 shares have advanced, 203 shares declined, and 50 shares are unchanged. 

The gainers are IOC, Indiabulls Housing, Hindalco, Wipro, Tech Mahindra, RIL, BPCL, Can Fin Homes, Vodafone Idea, Jet Airways, PFC, REC while losers include Axis Bank, IndusInd Bank, Eicher Motors, SBI life and Motherson Sumi.

Rupee Opens: The Indian rupee gained in the early trade on Friday. It opened higher by 10 paise at 69.24 per dollar versus previous close 69.34.

Market at pre-open: The benchmark indices are trading positive in the pre-opening session on Friday.

At 09:02 hrs IST, the Sensex is up 138.14 points or 0.36% at 38683.86, and the Nifty up 55.50 points or 0.48% at 11625.50.

Yes Bank, Kotak Mahindra Bank, HDFC Bank are trading higher in the pre-opening session.

Asian markets trade higher: Asian shares posted narrow gains on Friday on revived hopes of progress in US-China trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook.

Wall Street ends higher​: US stocks climbed on Thursday as Treasury yields rose off 15-month lows, with investors optimistic about the latest round of US-China trade talks.

SGX Nifty: Trends on SGX Nifty indicate a negative start for the broader indices in India, a fall of 25 points or 0.21 percent. Nifty futures were trading around 11,645-level on the Singaporean Exchange.

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Source: Moneycontrol

Ruby Mills adds 3% even after labour unrest halts production

Shares of Ruby Mills gained 3 percent intraday on March 28 despite production coming to a standstill at the processing plant at Kharsundi due to labour unrest.

The company in its BSE release said that workers at the processing plant in Kharsundi resorted to an illegal strike from March 27 despite the company executing terms of the 4-year Wage Agreement between them.

The company further said that the management is taking requisite steps to stop the disruption. Nonetheless, the production at the processing plant has stopped for now.

At 1016 hours, Ruby Mills was quoting Rs 279, up 3.09 percent on the BSE.

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Source: Moneycontrol

Stocks in the news: Godrej Agrovet, NBCC, Sheela Foam, Bharat Financial, Unichem Labs

Here are stocks that are in the news today:

Grasim Industries: Company allots 5,000, 7.65% fully-paid NCDs of Rs 10 lakh each aggregating to Rs 500 crore.

Texmo Pipes and Products: Board allotted 13 lakh equity shares at a price of Rs 23.20 per share, aggregating to Rs 3.01 crore to Shree Padmavati Irrigations LLP, promoter group entity on preferential basis.

Nelco board approved sale of company's entire Investment of 12.30% stake in Nelito Systems at a consideration of Rs.6.77 crore to DTS Corporation, Japan

Ador Welding: CARE downgraded rating on long term bank facilities to AA— from AA with outlook stable.

Mahindra & Mahindra Financial Services: Board approved the acquisition of 1,18,91,511 equity shares of Mahindra Rural Housing Finance Limited (MRHFL), a subsidiary of the company, aggregating to Rs 286.78 crore from National Housing Bank (NHB). Consequently, the shareholding of the company in MRHFL will increase from 88.75 percent to 98.43 percent as and when the shares are acquired.

Marathon Nextgen Realty: Board approved acquisition of 100 percent equity of 'Marathon Nextgen Townships Pvt Ltd' (MNTP) for a consideration of Rs 1 lakh, and investment proposal/s upto Rs 150 crore to spur up its growth activities.

Ruby Mills: The production at processing plant at Kharsundi has stopped due to labour unrest.

Lloyds Metals and Energy: The company has been conferred the status of mega project under Package Scheme of Incentives - 2013 and received approval for incentives or facilities from Industries, Energy and Labour Department of Government of Maharashtra in respect to the proposed mineral based steel plant at Konsari, Gadchorioli.

Unichem Laboratories: Company has received final Approval for its ANDA, Tadalafil tablets, 2.5 mg, 5 mg 10 mg and 20 mg from the United States Food and Drug Administration for a generic version of Eli Lilly's Cialis.

Bharat Financial Inclusion: Company assigned a pool of receivables of an aggregate value of Rs 1,528.87 crore to one of the largest private sector banks on a Direct Assignment basis. With this transaction, the company has completed Direct Assignment transactions worth Rs 8,195.07 crore in FY19.

Sheela Foam: Company's non-retail investors' portion in offer for sale issue oversubscribed by 2.5 times, receiving bids for 1,05,90,951 shares against OFS size of 42,33,764 shares.

Tata Global Beverage: Board announced re-appointment of Ajoy Kumar Misra as the Managing Director and CEO of the company for a period of 1 year.

Mcleod Russel: Aditya Khaitan, the Vice Chairman of the board has been elected as the Chairman of the board of directors.

NBCC India: Company secured new works for various infrastructure projects of Rs 1,003 crore.

Godrej Agrovet: Company acquired an additional 1.1 percent stake in its joint venture Godrej Tyson Foods, increasing its total shareholding in same to 51 percent. It also acquired additional 2.16 percent stake in Godrej Maxximilk Private Limited, increasing its total shareholding in same to 52.06 percent. Consequently, both companies have become subsidiaries of Godrej Agrovet.

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Source: Moneycontrol

Market Live: Nifty opens above 11,450, Sensex marginally higher; rupee trades lower

Market Opens: It is good start for the Indian indices on Thursday with Nifty above 11,450 level.

At 09:17 hrs IST, the Sensex is up 36.12 points or 0.09% at 38169, and the Nifty up 10.50 points or 0.09% at 11455.50. About 510 shares have advanced, 281 shares declined, and 31 shares are unchanged. 

Zee Ent, HCL Tech, Tech Mahindra, Infosys, Indiabulls housing, Yes Bank, HPCL, BPCL, IOC, GAIL, Eicher Motors are among major gainers, while losers are Tata Motors, ONGC, JSW Steel, IndusInd Bank, Power Grid, Cipla, HDFC Bank and Tata Steel.

Except metal, auto and pharma, all other sectoral indices are trading with marginal gains.

Rupee Opens: The Indian rupee opened lower by  24 paise at 69.11 per dollar on Thursday versus previous close 68.87.

Market at pre-open: Benchmark indices are trading higher in the pre-opening trade on Thursday.

At 09:03 hrs IST, the Sensex is up 66.14 points or 0.17% at 38199.02, and the Nifty up 13.50 points or 0.12% at 11458.50.

Infosys, TCS, Hexaware, HCL Tech are trading higher in the pre-opening session.

Asian markets trade lower: Asian share markets were painted red on Thursday as recession concerns sent bond yields spiralling lower across the globe, overwhelming central bank efforts to calm frayed nerves.

Crude Update: Oil prices fell on Thursday, extending losses into a second straight session, after widely watched data showed a surprising increase in US stocks.

Wall Street ends lower: US stocks eased on Wednesday as Treasury bond yields fell again and a prolonged inversion in the yield curve fanned fears of a US economic slowdown.

SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader indices in India, a fall of 22 points or 0.19 percent. Nifty futures were trading around 11,424-level on the Singaporean Exchange.

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Source: Moneycontrol

Jet Airways rallies 4% on reports of reinstatement of grounded planes

Shares of Jet Airways gained 4 percent intraday on March 27 after media reports claimed that the beleaguered airline's will get back its fleet within two months.

"Two to three aircraft are expected to be released daily once the payment is done to the lessors," a senior executive from the airline told Moneycontrol. 

The cash strapped airline was rescued by its lenders who have outlined plans to fly grounded planes and restart some of its cancelled flights.

The newly reconstituted board will meet next week to discuss the Jet's revival plan after founder Naresh Goyal and his wife Anita Goyal stepped down from the board on March 25.

At 0953 hours, Jet Airways was quoting Rs 281.30, up 3.80 percent on the BSE.

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Source: Moneycontrol

Stocks in the news: Wockhardt, Mindtree, Jet, GMR Infra, Narayana Hrudayalaya, Sheela Foam

Here are the stocks that are in news today:

Sheela Foam: 2 promoters to sell up to 8.68 percent stake in company via offer for sale on March 27-28. OFS floor price set at Rs 1,100 per share.

Jet Airways: Company to reinstate 50 flights from March 31 and to resume operations from Bhuj, Mangalore, Bhopal & Aurangabad - CNBC-TV18 sources.

GMR Infrastructure announces proposed investment of Rs 8000 crore by TATA Group, GIC and SSG Capital Management in its airports business

Wockhardt: Ireland, UK Drug Regulators cleared Aurangabad unit

Mindtree: Board has decided not to proceed with buyback of equity shares of the company and has formed directors panel to evaluate L&T open offer.

Bharat Electronics: Board declared a third interim dividend of 70 paise per share of Re 1 each fully paid-up for the financial year 2018-19 and has fixed March 28 as the record date for the payment of interim dividend.

Meghmani Organics: Fire broke out at agri manufacturing unit in Dahej.

Aris International: Board appointed Sushma Anuj Yadav as Chief Financial Officer of the company.

Dish TV board approved appoitment of Anil Kumar Dua, existing CEO of the company, as an additional director

PNB - RBI Imposed penalty of Rs 2 crore during assessment of implementation of SWIFT- related operational controls

Sanghvi Movers: ICRA, after due consideration, has revised the long-term rating from A to A- and short term rating from A1 to A2+.

Unitech: Company successfully entered into a Share Purchase Agreement with Sterling and Wilson Private Limited for sale of entire issued and paid up share capital of Unitech Power Transmission Limited.

Allahabad Bank: Board approved raising equity capital of the bank by an amount aggregating upto Rs 4,000 crore.

Peninsula Land: ICRA revised its rating on company's non-convertible debentures of Rs 520.53 crore to BBB- on account of lower-than-expected sales and collections against the backdrop of delay in receipt of Occupancy Certificate (OC) in some of the company's large sized completed projects.

Geojit Financial Services: A P Kurian has tendered his resignation as the Chaiman and Independent Director of the company on account of new compliance requirements under the SEBI Listing Regulations.

GOCL Corporation: Board declared an interim dividend of Rs 2 per share of face value of Rs 2 each for the financial year 2018-19.

Frontline Securities: Board approved proposal for buy back of fuly paid up equity shares of Rs 5 each at a price of Rs 40 per share , aggregating to an amount up to Rs 75.60 crore.

SRI KPR Industries: Board approved the sale of 1.5MW wind mill unit situated at Karaichchuttupudur village, Tamil Nadu.

Narayana Hrudayalaya: Company proposed to set up a business process and technology consultancy business in United States Of America.

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Source: Moneycontrol

Market Live: Indices open higher with Nifty above 11,500; Bank Nifty at record high

Rupee trades lower: The Indian rupee is trading lower by 9 paise at 68.95 per dollar on Wednesday versus 68.86 yesterday.

Market Opens: It is strong start for the Indian indices with Nifty above 11,500 level.

The Sensex is up 171.44 points at 38404.85, while Nifty is up 40.50 points at 11523.80. About 559 shares have advanced, 239 shares declined, and 31 shares are unchanged. 

IOC, Yes Bank, IndusInd Bank, IOC, HDFC Bank, SBI, HUL are among major gainers on the indices, while losers are Rel Comm, REC BPCL, HPCL.

Nifty Bank has reported a record high with index trading above 30000 level.

Market at pre-open: The benchmark indices are trading higher in the pre-opening with Nifty around 11,550 mark

Jet Airways, UCO Bank, PNB and BoB are among major gainers in the pre-opening.

At 09:02 hrs IST, the Sensex is up 149.19 points or 0.39% at 38382.60, and the Nifty up 61.60 points or 0.54% at 11544.90.

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Source: Moneycontrol

Stocks in the news: Bharti Airtel, Jet Airways, DLF, Indiabulls Real Estate, Titan, Future Retail, Grasim

Here are the stocks which are in news today:

Indiabulls Real Estate: To raise Rs 600 crore Via NCDs

Titan Company: Appoints Pradyumna Rameshchandra Vyas as Independent Director of company

Prudential: Prudential Corp to sell up to 2.6% stake via OFS; Floor Price set at Rs 300 per share

Suzlon Energy: Completes sale of Wind & Solar Subsidiaries

Jet Airways: Resolution plan - Conversion of Re 1 of Lenders' debt into 11.4 crore equity shares. Two nominees of promoter - Naresh Goyal and Anita Goyal, and one nominee of Etihad Airways PJSC to step down from the Board. Naresh Goyal to cease the be the Chairman of the company.

Grasim Industries: The Bombay High Court granted a stay against the recovery demand worth Rs 5,872.13 crore on account of dividend distribution tax.

Newgen Software Technologies: Company said it will incorporate Australian arm with an initial investment of 1.5 million Australian Dollars.

Bharti Airtel: Company said that it eliminated ISD Packs for making regular call to Bangladesh and Nepal. Prepaid user can make calls to Bangladesh at Rs 2.99 per minute and to Nepal at Rs 7.99 per minute.

DLF: Company said it will consider QIP issue price on March 28. QIP opens from March 25. The floor price for the issue is set at Rs 193.01 per share.

UCO Bank: Board approved preferential issue of 175 crore shares at Rs 19.01 each, against the government’s capital infusion of Rs 3,330 crore.

Bank of Maharashtra: Shareholders approved issue of 15.5 crore equity shares at Rs 13.25 per share aggregating to Rs 205 crore to the central government.

Kalpataru Power Transmission: Company acquired 85 percent stake in a Swedish EPC Company for USD 24 million, which deals in power supply solutions and services.

Future Retail: Board approved the re-appointment of Kishore Biyani as the MD of the company and Rakesh Biyani as joint MD for a three years from May 2, respectively.

Tourism Finance Corporation: Appoints Anirban Chakraborty as CMD.

Prabhat Dairy: Competition Commission of India approved the scheme of the company’s sale of its dairy business, which is run by the company’s arm Sunfresh Agro Industries to Tirumala Milk Products.

NHPC: Company said that it had started power trading in IEX as trader for J&K Power Development Department with effect from March 22.

MEP Infra Developers: Company arm entered into concession agreements with NHAI for three highway projects in Maharashtra.

Aurionpro Solutions: Board approves the buyback of 10.8 lakh shares or 4.6 percent of equity capital at a price of Rs 185 per share aggregating to Rs 20 crore.

Piramal Enterprises: Company gets tentative US FDA nod for Antipsychotic Drug, Lurasidone Hydrochloride

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Source: Moneycontrol