Stock Market Corner

Stock Corner

1.                   The GST Anti-Profiteering Body ruled that Hindustan Unilever (HUL) profiteered to the extent of Rs535cr against the company’s claim of Rs160 crore.

2.                   Vedanta said it will set up a new steel plant in Jharkhand with a capacity of 4.5 mn tonne (MT) per annum at an investment of $3-4 bn.

3.                   Autoline Industries entered into MOU with Poddar Habitat to transfer land at Chakan, Pune. The company will utilize the sale proceeds to settle debt that has a charge on the above said immovable property and reduce overall debt exposure of the company.

4.                   Suprajit Engineering expects second half of current financial year to be better. Consolidation of auto component space to gather pace; open for both strategic asset purchases and acquisition.

5.                   Vadilal Industries defers limited review report. The company said audit committee and board of directors have not been able to conclude on certain matters.

6.                   Nagarjuna Fertilizers said that the company it is in process of a long-term debt resolution with its lenders. It has also restarted production of Urea from Unit 1 of Kakinada plant.

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Stock Market Corner

Stock Corner

1.                   Fortis Healthcare stock in focus today as SEBI orders Singh brothers and other eight group companies to repay Rs 403 crore to company itself.

2.                   Bandhan Bank clarified that the bank was unaware of the news that it is in talks with HDFC for control of Gruh Finance. The bank also stated that it is evaluating various opportunities and will not comment on market speculation.

3.                   IndiGo signed codeshare mutual agreement with Turkish Airlines. The aviation company said this agreement is a part of its international expansion strategy.

4.                   Sundaram Finance stock in focus today. According to media reports, Competition Commission of India approves acquisition of 40% stake of Royal Sundaram General Insurance Company to Ageas Insurance International N.V.

5.                   Himachal Futuristic Communications has received two contracts totalling Rs148cr from L&T to execute the telecommunication systems projects for the Mauritius Metro Express Project and for the Dhaka Metro Mass Rapid Transit System.

6.                   EPC Industrie board approved change in the name of the company from EPC Industrié Limited to Mahindra EPC Irrigation Limited.

7.                   Power Grid acquired Jawaharpur Firozabad Transmission Limited (JFTL), the project SPV to establish transmission system for evacuation of power from 2 x 660 MW Jawaharpur Thermal Power Project and construction of 400 kV substation at Firozabad along with associated Transmission Lines, on build, own, operate and maintain (BOOM) basis from REC Transmission Projects Company Limited.

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Stock Market Corner

Stock Corner

1.                   Indian Oil to consider buyback and dividend on Dec 13.

2.                   Syndicate Bank reduced MCLR by five basis points across the six-month and one-year tenure instruments with effect from Dec 10.

3.                   Sugar companies like Balrampur Chini, Dhampur Sugar, EID Parry, Dalmia Bharat Sugar, and others will be in focus as Oil Ministry said that the ethanol blending in petrol would double to 8%.

4.                   Escorts transferred RT Crane business to its JV company with Japan-based Tadano for Rs35cr, on a slump sale basis.

5.                   Axis Bank appointed Amitabh Chaudhry as an additional director of the bank.

6.                   HEG said that there could be a window of opportunity to export graphite electrodes to China till 2022.

7.                   Tata Sponge received environmental clearance to hike production capacity of direct reduced iron plant to 4.65lakh TPA.

8.                   United Breweries’ CFO and Director Steven Bosch resigned from the company with effect from Jan 01, 2019.

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Stock Market Corner

Stock Corner

1.                   Indian Oil to consider buyback and dividend on Dec 13.

2.                   Syndicate Bank reduced MCLR by five basis points across the six-month and one-year tenure instruments with effect from Dec 10.

3.                   Sugar companies like Balrampur Chini, Dhampur Sugar, EID Parry, Dalmia Bharat Sugar, and others will be in focus as Oil Ministry said that the ethanol blending in petrol would double to 8%.

4.                   Escorts transferred RT Crane business to its JV company with Japan-based Tadano for Rs35cr, on a slump sale basis.

5.                   Axis Bank appointed Amitabh Chaudhry as an additional director of the bank.

6.                   HEG said that there could be a window of opportunity to export graphite electrodes to China till 2022.

7.                   Tata Sponge received environmental clearance to hike production capacity of direct reduced iron plant to 4.65lakh TPA.

8.                   United Breweries’ CFO and Director Steven Bosch resigned from the company with effect from Jan 01, 2019.

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MARKET NEWS CORNER

NEWS CORNER

1.     Lupin’s Canada arm received an approval from Health Canada for Zaxine drug used for the treatment of irritable bowel syndrome.

2.     Wipro’s digital business arm announced expanded global partnership with the U.S. based ‘Alfresco’ to offer open source digital solutions.

3.     Cabinet approves sale of govt’s 52.6% stake in REC to PFC for Rs15,000cr.

4.     Zydus Wellness to raise funds by issuing preference shares worth Rs2,575cr to Cadila Healthcare, Zydus Family Trust, Pioneer Investment Fund and True North Fund.

5.     Government cuts stake in Coal India by 2.2% to 72.9%.

6.     HUDCO Board mulls raising up to Rs1,000cr via bonds.

7.     HCL Technologies to buy select IBM software products for $1.8 billion.

8.     Reliance Industries’ Reliance Jio Infocomm board was considering restructuring and reorganizing proposals on Dec 11.

9.     Majesco to invest ~$35mn in US unit’s right offering to fund remainder of Exaxe acquisition, pay off debt, and accelerate crowd solution growth.

10.                       MPS received intimation from ADI BPO Services for withdrawal of scheme of amalgamation of the latter company with MPS.

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Stock Market Corner

Stock Corner

1.                   Uflex shares rallied 6.5 percent intraday Tuesday on receiving patent from the United States for BOPET film.

2.                   Ramco System shares climbed 4.4 percent intraday after the company joined hands with KPMG Malaysia to offer HR & payroll business platform as a service (BPaaS).

3.                   Auto major Tata Motors is planning a large-scale overhaul of its sales network across the country over the next one year as it prepares to bring in new products, including premium SUV Harrier

4.                   IDBI Bank said government will not participate in LIC's open offer to acquire 51 percent stake in the bank. LIC's open offer to purchase 26 percent shares of IDBI Bank opened on December 3 and will close on December 14.

5.                   Shares of Kesoram Industries has moved higher by 8% to Rs 99, extending its past three weeks rally on the BSE after media report suggest that the company may demerge its loss-making tyre unit by the end of December.

6.                   Shares of Info Edge (India), owner of one of the leading job portals naukri.com, were trading higher for the seventh straight trading day on Tuesday. The stock was up 5% to Rs 1,695 on the BSE in early morning trade in an otherwise subdued market.

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Stock Market Corner

Stock Corner

1.                   Shares of Tata Power Company and Adani Power rallied up to 7% in intra-day trade on Monday amid reports that the Gujarat government has decided to increase tariffs of three coal-based power plants.

2.                   Shares of metal companies rallied in the morning deals on Monday after US and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a major boost for the emerging markets.

3.                   Cadila Healthcare received USFDA approval to sell Teriflunomide tablets.

4.                   India’s largest passenger vehicle manufacturer, Maruti Suzuki (India) reported better than expected volumes in November 2018. Total volume (domestic + exports) came in at 1,53,539; flat on yoy basis and up 5% on mom

5.                   Tata Motors sold 50,470 vehicles in November 2018 in the domestic market against 52,464 vehicles in November 2017 and 57,710 vehicles in October 2018.

6.                   Biocon’s jointly developed product “Fulphila” with Mylan has been granted marketing authorisation from the European Commission.

7.                   Monte Carlo Fashion’s board approved buy back of 4.6% of equity paid-up share capital at Rs550 per share, aggregating to Rs55cr.

8.                   Indian Oil Corporation to reduce Delhi’s non-subsidized LPG price by Rs133 per bottle from December 1, as media reports.

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