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Tuesday, 16 April 2019

Stocks in the news: Wipro, Cipla, Prestige Estates, Jet Airways, Polycab India, Deepak Fertilizers

Here are stocks that are in the news today:

Results on April 16: Wipro, Mastek, 5paisa Capital, Den Networks, Asutosh Enterprises, Northern Projects

Listing: Polycab India

Hathway Cable Q4: Standalone net loss at Rs 55 crore versus profit at Rs 12.6 crore; revenue down 9.1 percent to Rs 132.4 crore versus Rs 145.7 crore YoY.

Tata Metaliks Q4: Net profit rose 17% at Rs 64 crore, revenue was up 8.7% at Rs 593 crore.

TCS: Zions Bancorporation unifies lending operations with TCS BaNCS.

Jet Airways: Lenders are unlikely to extend any interim funding for company as of now and will weigh seriousness of bids received before firming up plans on funding.

Prestige Estates: Company buys balance 51 percent share in Babji Realtors Private Limited through subsidiary company for Rs 364 crore.

JM Financial's subsidiary has filed the Shelf Prospectus and Tranche I prospectus, with the Registrar of Companies and SEBI pertains to the public issue of Secured NCDs aggregating up to Rs 2000cr

's subsidiary has filed the Shelf Prospectus and Tranche I prospectus, with the Registrar of Companies and SEBI pertains to the public issue of Secured NCDs aggregating up to Rs 2000cr

Syndicate Bank: Bank cuts MCLR rate by 5 bps across all tenures.

Canara Bank appointed R.A. Sankara Narayanan as MD & CEO of bank

Lakshmi Vilas Bank: Board to meet on April 22 to decide price of shares issuance. Bank is proposing to make preferential allotment to Indiabulls Housing Finance to extent of 4.99 percent and is expected that the relevant date could be by the end of April 2019.

Deepak Fertilizers: Company commences commercial production of nitric acid plant at Dahej, Gujarat. Facility to cost approximately Rs 550 crore.

Dr Reddy's Lab received Establishment Inspection Report (BIR) from USFDA, for its formulations manufacturing plant - 3 at Bachupally, Hyderabad

Cipla: Company''s wholly owned subsidiary in USA i.e. Cipla Technologies LLC has signed the definitive agreement with Pulmatrix Inc for the development and commercialisation of Pulmazole, – an inhaled iSPERSE formulation of the antifungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.

Dynamatic Technologies launched TEJAS MA|N FUSELAGE ASSEMBLY for Hindustan Aeronautics

Suven Life Sciences: Board approved the enhancement of investment limits in subsidiary in USA Suven Neurosciences, Inc. from $25 million upto $50 million to undertake clinical trials on the molecules in the pipeline.

Cyient: Company rolled out a portfolio of services and solutions that help communication service providers (CSPs) expedite 5G network rollouts globally.

Majesco unveils Majesco P&C core suite version 11

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Source: Moneycontrol

Monday, 15 April 2019

Stocks in the news: TCS, Infosys, Dr Reddy's, Metropolis, Suven Life, Jet Airways, APL Apollo

Here are stocks that are in the news today:

Results on April 15: Hathway Cable & Datacom, Network18 Media & Investments, TV18 Broadcast, Reliance Industrial Infrastructure, Mac Hotels, TRF, Tata Metaliks, Sanghi Corporate, International Travel House, Gujarat Hotels, Dhruv Estates

Listing: Metropolis Healthcare

USFDA issues no observation for Wockhardt's bioequivalence centre at Aurangabad

TCS Q4: Profit rises 0.3 percent to Rs 8,126 crore versus Rs 8,105 crore and revenue grows 1.8 percent to Rs 38,010 crore versus Rs 37,338 crore QoQ. Revenue in constant currency terms increases 2.4 percent QoQ.

Infosys Q4: Profit jumps 12.9 percent to Rs 4,074 crore versus Rs 3,609 crore, revenue rises 0.6 percent to Rs 21,539 crore versus Rs 21,400 crore; EBIT margin falls 120 bps QoQ. Company sees constant currency revenue growth at 7.5-9.5 percent and EBIT margin at 21-23 percent in FY20.

Jet Airways: SBICAPS acquires 5.19% stake in company on April 11 via pledge encumbrance. Rajshree Pathy submitted her resignation as an Independent Director of the ompany, owing to time constraints on account of her other current commitments.

Cosmo Films launches CPP High Barrier film

Eris Lifesciences pre-paid the entire loan facility obtained from Axis Bank

Pricol: ICRA downgrades rating on long term - line of credit facilities of the company to BBB (Negative) from BBB+ (Stable).

ITI Limited: Company records a turnover of Rs 2,051 crore for FY19, up 20 percent compared to previous year.

Dixon Technologies has acquired 50% stake in Padget Electronics for Rs 27 cr

Sudarshan Chemical Industries: Board approved proposal to enter into a definitive agreement with GMM Pfaudler (GMMP) to divest industrial mixing solutions division (IMSD) of the company.

Quick Heal fixed April 26 as the record date for buyback

Mcleod Russel: Wholly owned subsidiary Borelli Tea Holdings approved Share Purchase Agreement for disposal of its stake in Pfunda Tea Company.

Dr Reddy's Labs: Company entered into a definitive agreement to acquire a portfolio of 42 approved, non-marketed Abbreviated New Drug Applications (ANDAs) in the US.

Persistent Systems: Sudhir Kulkarni, President - Sales, Technology Services Unit has resigned to pursue other interests.

Texmaco Rail board meeting on April 17 to consider raising of funds by way of a qualified institutions placement or a preferential issue or a rights issue

APL Apollo Tubes: Company to acquire Shankara's 2,00,000 MTPA tube manufacturing unit in Southern India for Rs 70 crore.

Arcotech: Company has been completed issue of non- convertible, non-cumulative redeemable preference shares.

Lakshmi Vilas Bank board approved allotment of 1.68 crore shares for the purpose of the proposed scheme of amalgamation between lndiabulls Housing Finance & bank

Trident Texofab: Company' newly setup manufacturing unit in Surat, Gujarat started its commercial production and operations and the said unit has been set up for manufacture of grey fabrics.

Adani Enterprises: Adani Transport, a wholly owned subsidiary, incorporated a subsidiary company namely Suryapet Khammam Road Private Limited.

HT Media: As per share purchase agreement, company will now acquire 69,05,383 equity shares of NRL on or before November 15, 2019.

Suven Life Sciences: Company receives court approval of 'Stalking Horse' Agreement to buy the assets of Rising Pharmaceuticals through its joint venture partner, Shore Suven Pharma Inc.

International Paper APPM: There would be annual outage (maintenance) from April 15, 2019 to April 22, 2019 (both days inclusive) in manufacturing facility located in Kadiyam, East Godavari District, Andhra Pradesh. The estimated loss of production would be around 200 MTs per day.

Out of F&O Ban: Adani Power, PC Jeweller

Analyst or Board Meet/Briefings

Sadhana Nitrochem: Board meeting to be held on April 17 to consider interim dividend.

Bajaj Finance: Company's officials will meet certain institutional investors, banks and analysts on debt side at a Non-Deal Road Show in Singapore, Hong Kong and Tokyo during April 15-18.

APL Apollo Tubes: Conference call with investors and analyst to be held on April 16 to discuss the acquisition of Shankara’s manufacturing unit.

Manappuram Finance: Company's officials will meet Creador and Sundaram Mutual Fund on April 16.

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Source: Moneycontrol

Friday, 12 April 2019

Stocks in the news: TCS, Infosys, Jet Airways, Prabhat Dairy, Lumax Auto, Sterlite Tech

Here are stocks that are in the news today:

Results on April 12: TCS, Infosys, Alpha Hi-Tech Fuel, Ashika Credit Capital, Gangotri Textiles, GTPL Hathway, Integrated Capital Services, Infomedia Press, Minal Industries, Mold-Tek Technologies, Tinplate Company of India

Cipla launches Niveoli, India’s first extrafine ICS-LABA combination HFA inhale

Lumax Auto signed a joint venture agreement with Jopp Holding JmbH, Germany for manufacturing and sale of the automotive components

IDBI Bank: Bank reduced MCLR by 5-10 bps across various tenors w.e.f April 12.

Narayana Hrudayalaya has incorporated a wholly owned subsidiary company Narayana Health North America LLC in the State of Delaware, United States of America

Future Retail: Acuite Ratings & Research Limited has reaffirmed its rating on company's commercial paper at A1+.

Nitesh Estates approved the appointment of Rakesh Singh as chief executive officer of the company w.e.f. April 10,2019

AGC Networks Pte, wholly-owned subsidiary of AGC Network & AGC Networks Inc., wholly-owned Subsidiary of AGC Singapore, have jointly entered into a stock purchase agreement with COPC Holdings Inc. and Global Quality Assurance in USA to acquire 100% stake in the COPC Holdings for a purchase consideration of USD 5,500,000

ICICI Pru Life Insurance reduced stake in Coromandel International by 2.03 percent

Pasupati Acrylon has successfully commenced commercial production of second Line of cast Polypropylene Film (CPP) w.e.f. 26.03.2019

Prabhat Dairy: Company completed sale of its shareholding in wholly owned step down subsidiary, Sunfresh Agro Industries Private Limited (SAIPL) to Tirumala Milk Products Private Limited.

Jet Airways - additional ten aircraft have been grounded due to non-payment of amounts outstanding to lessors

Jet Airways: Etihad Airways submits expression of interest to acquire substantial stake (up to 49 percent) in company - CNBC-TV18 sources. Etihad Airways currently holds 24 percent stake in Jet Airways.

DHFL - Brickwork revised rating on secured NCD worth Rs 29,000 crore to BWR AA- from BWR AA

Arvind SmartSpaces - Indian Ratings and Research (IRA) has assigned rating of IND A1 to short-term loan of Rs 100 crore

Future Consumer - CARE reaffirmed CARE A1 rating to the company's commercial papers worth Rs 100 crore

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Source: Moneycontrol

Wednesday, 10 April 2019

Stocks in the news: SBI, Lakshmi Vilas Bank, Praj Ind, Avenue Supermarts, Info Edge

Here are stocks that are in the news today:

SBI: Bank cut MCLR across tenors by five basis points. Home loan rates for up to Rs 30 lakh have been cut by 10 bps.

Praj Industries signed a construction license agreement with Gevo Inc, USA to commercialize technology for production of lsobutanol using sugary-based feedstock

Tata Sponge Iron completed the acquisition of steel business including captive power plants of Usha Martin, pursuant to cash consideration of Rs 4,094 crore to Usha Martin

Board meeting on April 18 to cosider and approve the audited financial results and dividend for the financial year ended March 31, 2019

Info Edge: Company has invested through its wholly-owned subsidiary Rs 6 crore in Bizcrum Infotech Private Ltd.

Avenue Supermarts: Company raised Rs 50 crore via commercial papers.

Ashok Leyland: Promoter pledged 1.33 percent stake in the company.

Vodafone Idea: Rs 25,000 crore rights issue to open on April 10 & close on April 24.

Panacea Biotec has done one-time settlement with consortium lenders to resolve the current debt position of the company

Olectra Greentech board approved the allotment 27 lakh shares at an issue price of Rs. 80.10 to promoter group Goldstone Power, against a conversion of balance 27 lakh warrant out of 54 lakh warrants which were allotted to the promoter group in October 2017

Mindtree to consider to consider the audited financial results and declaration of interim and/or special dividend on April 17

Forbes & Co: CARE revised the company's long term rating to A+ From AA-.

Jet Airways: DGCA said company's lessors apply for de-registration of 7 more planes.

Karda Constructions: Company has completed RCC work of residential building A of project Hari Nakshatra Phase I amounting to Rs 9 crore against the construction work order of Rs 18.92 crore awarded by Shree Sainath Land & Development (India) Private Limited.

Kiri Industries: Singapore Court reserved its judgement in Dystar’s minority oppression suit

Mahindra CIE Automotive completed 100 percent acquisition of Aurangabad Electricals

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Source: Moneycontrol

Tuesday, 9 April 2019

Stocks in the news: Panacea Biotec, Bharti Airtel, Fortis, Voltas, Asian Paints, Majesco, Coffee Day

Here are stocks that are in the news today:

Results on April 9: Bajaj Consumer Care, Simplex Projects

Bharti Airtel: SEBI approves company's Rs 25,000 crore fund raising plan - CNBC-TV18 Sources

Panacea Biotec: India Resurgence Fund, promoted by Piramal Enterprises and Bain Capital Credit, along with its affiliates has announced an investment of up to Rs 992 crore in the company.

Usha Martin's CFO Rohit Nanda resigned as the CFO w.e.f. April 9, appointed Anirban Sanyal as the new CFO

Voltas: Company in pact to sell Shima Seiki's products in India.

Fortis Healthcare: Girish Gupta steps down as CFO with immediate effect. Company appoints Vivek Kumar Goyal As Chief Financial Officer.

Fortis Healthcare looking to sale its 27.82 percent stake in Singapore based arm RHT Health Trust

Sun Pharmaceutical Industries' wholly owned subsidiary Sun Pharma Distributors will commence distributing company's formulation products in India, on the same terms as was with AML, in a phased manner upon receipt of requisite regulatory approvals

Quess Corp's staffing business adds 23,000 associates effective April 2019

Prabhat Telecoms (India): Company entered into a distributor agreement with 'Xmi Pte Ltd' (Hong Kong) for distributing telecom accessories and other accessories as manufactured products in Delhi and NCR, Rajasthan, Uttar Pradesh, Arunachal Pradesh, Nagaland, Mizoram, Meghalaya, Manipur, Sikkim, Assam, Tripura and West Bengal of the Republic of India to specific retailors on non-exclusive basis.

Karda Constructions: Company commenced construction of Hari Krishna - Phase IV, a residential cum commercial project in Nashik, Maharashtra. Total saleable area will be 60,548.71 square feet and expected sale proceeds should be around Rs 21.19 crore. The said project will be complete by November 2022.

Indo-Rama Synthetics appointed Maganti Narayan Sudhindra Rao as executive director and CEO for 3 years with effect from April 8.

Coffee Day Enterprises: Impact HD Inc (IHD) to invest $15 million for 49 percent stake in company's subsidiary Coffee Day Consultancy Services Private Limited. After this deal, company and its subsidiary Coffee Day Global will hold 51 percent stake in Coffee Day Consultancy Services Private Limited.

Majesco: Company appointed finance & operations expert Wayne Locke as new CFO.

Asian Paints: Company said fire broke out at manufacturing facility in Vishakhapatnam, Andhra Pradesh. Fire will not have any impact on the business operations of company.

Indian Overseas Bank decreased its MCLR for 1 year and above tenor by 5 bps with effect from 10.04.2019

DLF: GIC sells 7 crore shares in a block deal at Rs 192 per share - CNBC-TV18 sources. In 2016-17, GIC via property arm had bought 7 crore shares in DLF.

IndusInd Bank has priced the Notes at 3.875 percent, fixed rate on April 8, 2019 under the Medium Term Notes Programme acting through its IBU having an issue size of USD 400 million

Analyst or Board Meet/Briefings

Yes Bank: Bank will consider raising funds via debt, equity, and announce March quarter earnings on April 26.

Rushil Decor: Company's officials will meet investors/analysts on April 9.

Gateway Distriparks: Company's officials will meet Reliance Nippon Life Asset Management on April 9.

Finolex Industries: Company's officials will meet B&K Securities India on April 9.

5paisa Capital: Bank to consider raising funds via NCD and announce March quarter earnings on April 16.

Eris Lifesciences: Company's officials will meet IIFL on April 9.

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Source: Moneycontrol

Wednesday, 9 January 2019

Why 2019 could be a make-or-break year for Sun Pharma

Terming the new year to be a make-or-break one for Sun Pharma, CLSA believes that specialty pipeline will be a key focus area.

In India, it said, Sun Pharma would aim to outperform industry growth after a weak CY2018.

Analysts at the firm expect the company to remain acquisitive towards specialty products.

Stock valuation is attractive and stronger specialty portfolio ramp up could drive re-rating.

The brokerage has a buy call on the stock with a target at Rs 560.

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Source: Moneycontrol