News should not be missed; Business Deals and Corporate Actions

Business Deals, Company Expansions, Stake Acquisitions and Corporate Actions – 25Th Feb – 27Th Feb

Prakash Poojary, TFM News

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100 sugar mills may face SEBI action; crackdown could freeze cane procurement: Report

Private placement norms allow an unlisted company to privately sell shares to a maximum of 49 people

HG Infra bags an EPC order worth Rs..189.49 crore

HG Infra Engineering has bagged an EPC order worth Rs. 189.49 Crore (Excluding GST & Labour Cess) from Megawide Construction DMCC for Flexible & Rigid Pavement (Runway, Taxiway & Apron) at Green fleld International Airport at MOPA, Goa.

Approval granted for purchase of defence equipment worth Rs.2,700 cr

The meeting of the council, the highest decision-making body for defence purchase, was chaired by Defence Minister Nirmala Sitharaman.

BEML secures contract valued around Rs.400 crore

BEML received contract for 7 Metro train sets of 6 cars configuration to augment the metro services in Bengaluru valued around Rs. 400 crore.

Time Technoplast up on tie-up with Confidence Petroleum

Shares of Time Technoplast rose nearly 9% touching to Rs. 94.1, as the company has entered into a partnership with Confidence Petroleum for making liquefied petroleum gas available across India in blast proof composite cylinders.

Both the companies expect substantial demand for the composite cylinders over the next three-five years.

Lupin launches Minocycline Hydrochloride ER tablets

Lupin announced the launch of Minocycline Hydrochloride Extended-Release Tablets USP 55mg, having received an approval from the United States Food and Drug Administration (FDA) earlier. Lupin’s Minocycline Hydrochloride ER Tablets USP 55mg is a generic version of Medicis Pharmaceutical Corporation’s Solodyn 55 mg. It is indicated to treat only inflammatory lesions of non-nodular moderate to severe acne vulgaris in patients 12 years of age and older.

BOI approves fresh issue of equity shares

Bank of India has announced that board of directors at its meeting held on February 26, has approved issue of fresh equity shares to Government of India, through preferential issue in respect of share application money of Rs.4,638 crore received, after obtaining shareholders and other approvals.

NBCC signs MoU with Raipur SMART City

NBCC signs Memorandum of Understanding with Raipur SMART City as its Executing Agency for the various infrastructure works on deposit work basis. Co will charge project management consultancy (PMC) fees of 8% on the actual cost of work.

Adani Enterprises emerges as highest bidder for Guwahati airport

Adani Enterprises has emerged as the highest bidder for Lokpriya Gopinath Bordoloi International Airport of Guwahati at Rs. 160 per passenger, beating National Investment and Infrastructure Fund’s bid of Rs. 155, as per the report. According to report, with this, the group has emerged as the highest bidder for operating, managing and developing six airports. As of now, Delhi, Mumbai, Hyderabad, Bengaluru and Cochin are the only private-run airports in the country.

DHFL slumps as ICRA downgrades its creditworthiness

Dewan Housing Finance Corporation (DHFL) fell by 8% to Rs.125.45, after the credit rating agency ICRA downgraded the creditworthiness of DHFL’s commercial papers to A2+ from A1+ citing its inability to raise money and generate new business. ICRA has revised the short-term rating outstanding for the Rs. 8000 crore commercial paper (CP) programme of Dewan Housing Finance Corporation (DHFL) to [ICRA]A2+ (pronounced ICRA A two plus) from [ICRA]A1+ (pronounced ICRA A one plus). As on date, DHFL has CP outstanding of Rs. 1,525 crore. The company has indicated to ICRA that it shall buyback substantial portion of this amount over the next one month.

Iran buys Indian raw sugar for the first time in 5 years

Iran is buying the sugar from India to use up the rupees it has received for oil sales to India, the worlds third-largest oil user.

UPL hits 18-month high after Jefferies initiates coverage with buy

Jefferies is constructive on the scale benefits, product mix synergies from Arysta which acquired by the company for $4.2 billion in July 2018.

Palladium soars above $1,550 on mine strike fears; gold rises

Spot palladium traded as high as $1,553 per ounce as of 0400 GMT.

ArcelorMittal says facing risks like excess capex on proposed Essar acquisition

The company said it provided a $567 million performance guarantee in connection with the execution of the resolution plan.

Intellect Design bags multi-million $ deal win from Emirates NBD

Intellect Design Arena announced that Emirates NBD, UAE has selected the company for end-to-end digital transformation of its transaction banking business. The transformation is part of the banking group’s commitment to digitise operations, products and services, enhancing its proposition to corporate clients and retail customers. Supported by Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, the planned project is aimed at strengthening Emirates NBD Transaction Banking’s market leadership and will cover the bank’s operations across trade corridors in the UAE, KSA, Egypt, India, Singapore and the United Kingdom.

HP investors meet: 159 MoUs with Rs.17,000 crore investment commitment signed, says CM Jai Ram Thakur

Stating that such initiatives were never taken before in the state, the CM said efforts would be made to ensure clearances for projects faster.

Businesses underestimate the prospects of 5G technology: Accenture Study

The government/public sector has the lowest awareness of 5G, with 59 percent believing it will be 10 times faster than 4G.

BSE stock options: Sebi slaps Rs 32 lakh fine on 6 entities for fraudulent trade

After observing a large-scale reversal of trades in the bourse#39;s stock options segment, Sebi conducted a probe into the trading activity in illiquid stock options on the BSE from April 2014 to September 2015.

GE chief Larry Culp sells biopharma business for $21 billion

Culp said the sale to Danaher, where he was chief executive for more than a decade until 2014, was a pivotal milestone in efforts to turn around the 126-year old conglomerate.

17 lakh names deleted from electoral rolls in Maharashtra

More names were likely to be deleted in the coming weeks as the process of authentication of voters was underway, the ECI official said.

Tata Elxsi collaborates with Portuguese company

Tata Elxsi and NOS announce the launch of the Digital Operations Transformation Toolbox for communication and entertainment service providers. DOTT 2.0 offers an intelligent operations automation framework built using open source technology for user-defined service definition, zero touch provisioning, validation and scheduling of field partners for provisioning and testing scenarios thus enhancing customer digital experience. It also provides an extensible roadmap for service rollout and monitoring use cases, enabling communication service providers to launch new services rapidly. At 1.57 pm, Tata Elxsi was trading at Rs. 905.65, up by 0.06%, with a volume of 6867 shares on the BSE.

RPP Infra Projects wins a new order of Rs.105.7 crore

RPP Infra Projects has secured a LoA (Letter of Acceptance) worth Rs. 105.7 crore from the Tamil Nadu Slum Clearance Board for construction of 972 tenements at Moorthingar Street in Chennai. This project falls under the prestigious Housing for All (PMAY) scheme of the Government of India. RPP lnfra’s order book at the end of Q3FY19 stood at over Rs. 1,555.00 crore & the company has won new orders worth over Rs. 490.00 crore after Q3FY19.

Benelli Leoncino 500, Imperiale 400 confirmed for India launch in 2019

After forging a new partnership with Adishwar Auto Ride India, the Italian manufacturer announced the launch of five new products in 2019.

JSPL lowest bidder in RVLNs 4.45 LT rail tender: MD

RVNL functions as an extended arm of the Ministry of Railways. It is empowered to act as an umbrella special purpose vehicle (SPV) to undertake projects directly or by creating project specific SPVs, according to its website.

India to get 5G by 2021, ban on certain vendors won’t delay roll out: Nokia

The companys CEO Rajeev Suri said that after leading markets like the US, South Korea, China, emerging markets including India, Latin America, and certain developed markets will see roll out of the next generation technology by 2021, where million of trade secrets will flow on the network; and security will be a top priority for businesses.

Adani Ports falls on acquisition plan of Adani Agro

Adani Ports and Special Economic Zone fell over 8% to Rs.323, after Adani Logistics, a unit of Adani Ports and SEZ on Saturday announced that it would be acquiring Adani Agri Logistics from Adani Enterprises in an all-cash deal.

KPR Mills to set up Ethanol plant in Karnataka

KPR Mills to set up Ethanol plant at sugar factory in Karnataka with a capacity of 90 kL/day. The Project cost is Rs. 120 crore. Production is expected to commence from next season. This will increase the value addition and reduce the volatility in the sugar business. The Bank finance towards the Project is eligible for 50% lnterest subsidy announced recently by the Central Government.

GST rates on under-construction houses cut to 5% from 12%

The Goods and Tax Council in its meeting on February 24, 2019 cut rates on under-construction properties from 12% to 5% with effect from April 1, 2019 for houses over Rs.45 lakh. The council also reduced GST rates on affordable housing to 1% from the current 8%. However, builders will not be allowed to claim input tax credit under the new GST tax norms.

JBM Group acquires major shareholding in German Auto Major Linde-Wiemann

JBM Group announced that it has acquired a major shareholding in Germany based Linde-Wiemann GmbH KG, a leading manufacturer of complex structural components & assemblies to automotive OEM’s worldwide.

Shilpa Medicare gets USFDA approval for Gemcitabine Injection

Shilpa Medicare received US Food and Drug Administration (USFDA) approval for its ANDA, Gemcitabine for Injection USP, 200 mg/vial and 1 g/vial Gemcitabine for Injection USP is a generic equivalent of reference listed drug (RLD), GEMZAR used in the treatment of ovarian cancer, breast cancer, non-small cell lung cancer & pancreatic cancer as recommended in the label approved by FDA. According to IQVIA MAT 12/2018, the US market for Gemcitabine for Injection USP, 200 mg/vial and 1 g/vlal is approximately US$ 11.7 Million.

Maruti Suzuki expands pre-owned sales network to 200 outlets

The company had relaunched upgraded True Value network with new brand and retail identity 19 months ago.

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DAILY MARKET INSIGHTS – 6th Feb 2019

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Indian Indexes

The benchmark indices closed over a four-month high on February 06. The Sensex hit 37000 for the first time since September 21, 2018 in intra-day trade. Markets maintained their uptrend throughout the day and ended on a strong note. Majority of the sectors were under the buyers’ radar except consumer durables and power. The major heavyweight gainers were Reliance Industries, ICICI Bank, Tata Consultancy Services, Infosys, HDFC, ITC and Bajaj Finance. The Sensex jumped by 0.98% or 358.42 points to 36975.23. The Nifty surged by 1.17% or 128.10 points to 11,062.45.

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Stocks in the news

1. Venky’s Q3 net profit slipped by 2.5% y-o-y to Rs. 67.7 crore

2. Vardhman Textiles Q3 net profit rose by 44.4% y-o-y to Rs. 196 crore

3. Siemens Q1 net profit rose by 19.4% y-o-y to Rs. 228 crore

Buzzing stocks on BSE

1. Tech Mahindra surged by 8.11% to Rs. 810.80, after net profit rose by 14.3% to Rs. 1,207 crore in Q3FY2019.

3. Shares of Blue Star fell by 2.11% to Rs. 584.25, as company posted a net loss of Rs. 0.94 crore in Q3FY2019.

Buzzing stocks on BSE

Asian stock markets rose on February 06, as investors digested US President Donald Trump’s State of the Union address.

Stock indices in the Europe traded in the negative territory after slew of dismal quarterly earnings reports from companies.

 

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DAILY MARKET INSIGHTS – 5th Feb 2019

Daily Stock Picks and Recomandations – 6th Feb 2019

RBI slaps penalty on Axis Bank, UCO Bank and Syndicate Bank for violation of norms

Know why Reliance Communications shares have dropped 50% – 4th Feb 2019

Budget 2019 Key Benefits: Finance Minister presents Union Budget 2019 in Parliament

Quick Finance Updates

DAILY MARKET INSIGHTS – 5th Feb 2019

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Indian Indexes

Indian stock markets ended on a flat note on February 05, where both the indices closed with minor gains. Buying was seen in blue-chip companies such as Reliance Industries, Hindustan Unilever whereas stock such as ITC and ICICI Bank were under pressure. The Sensex was rose by 34.07 points or 0.09% to 36616.81. The Nifty increased by 22.10 points or 0.20% to 10934.35.

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Stocks in the news

1. January Nikkei services PMI reading fell to 52.2 from 53.2 m-o-m

2. Punjab National Bank Q3 net profit rose by 8% y-o-y to Rs. 247 crore

3. CESC Q3 net profit surged by 13.1% y-o-y to Rs. 173 crore

Buzzing stocks on BSE

1. Godrej Agrovet slipped by 3.21% to Rs. 475.80, after consolidated net profit fell by 17.45% to Rs. 40.92 crore in Q3FY2019

2. Jubilant Foodworks fell by 6.45% to Rs. 1,303.25, on reports that the company has been found guilty of not passing on GST rate cut benefits of Rs. 41.42 crore on sale of some pizza products and has been directed to deposit the illegal gains with the government.

 

Global Signals

Most Asian stock markets were shut on February 05, except the Nikkei on account of the Lunar New Year holidays.

European stocks surged to nine-week high as market participants monitored a slew of corporate results.

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DAILY MARKET INSIGHTS – 4th Feb 2019

The Future Market’s Financial NewsLetter – 4th Feb 2019

Know why Reliance Communications shares have dropped 50% – 4th Feb 2019

Budget 2019 Key Benefits: Finance Minister presents Union Budget 2019 in Parliament

4th Feb 2019 Stock Ideas – The Future Market’s watch window

Quick Finance Updates

The Future Market’s Financial NewsLetter – 4th Feb 2019

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financial-newsletter-670x335Corporate Financial Updates from The Future Market’s Watch Window on 4th Feb, 2019

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  • Exide Q3 net profit at Rs. 155 crore
    Net profit rose by 0.5% to Rs. 155 crore from Rs. 154.3 crore. Read More..
  • Insecticides Q3 net profit rises by 75.2% y-o-y
    Net profit rose by 75.2% to Rs. 16.9 crore from Rs. 9.6 crore. Read More..
  • Laurus Labs gets USFDA nod for HIV drug
    Laurus Labs received tentative approval from United States Food and Drug Administration (USFDA) under PEPFAR for Tenofovir/Lamivudine/Dolutegravir (TLD) 300/300/SOmg fixed dose combination (FDC). Read More..

To See more coprorate updates Click here…

DAILY MARKET INSIGHTS – 4th Feb 2019

Know why Reliance Communications shares have dropped 50% – 4th Feb 2019

4th Feb 2019 Stock Ideas – The Future Market’s watch window

STOCK IDEA’S for Feb-2019 by Sharekhan as on 1st Feb 2019

Indiabulls Housing Finance FY2019-Q3 net profit falls by 14% yoy – 31st Jan 2019

Quick Finance Updates

DAILY MARKET INSIGHTS – 4th Feb 2019

market-report-header-new-flat2

Indian Indexes

Benchmark indices rallied in the last hour and extended their gains for the third day. Reliance Industries, ONGC, Bajaj Auto, TCS and Kotak Mahindra Bank were the top gainers on the Sensex, while Yes Bank, Power Grid, NTPC, Sun Pharma and M&M were the top losers. The Sensex rose by 0.31% or 113.31 points to 36582.74. The Nifty surged by 0.17% or 18.60 points at 10912.30.

Market breadth was in favour of declines with an advance-decline ratio of 1:3

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Stocks in the news

1. Bajaj Auto January sales surged by 15% y-o-y to 4.07 lakh units

2. Tata Motors domestic sales declined by 10% y-o-y to 58,185 units

3. Insecticides (India) Q3 net profit rose by 75.2% y-o-y to Rs. 16.9 crore

4. GSK Pharma Q3 net profit increased by 26% y-o-y to Rs. 113 crore

5. Welspun India Q3 net profit slipped by 37% y-o-y to Rs. 50 crore

Buzzing stocks on BSE

1. Titan Company surged by 3.40% to Rs. 1,025, after consolidated net profit rose by 43.49% to Rs. 413.19 crore in Q3FY2019.

2. Reliance Communications tumbled by 34.31% to Rs. 7.62, after the company sought debt resolution plan through the National Company Law Tribunal (NCLT).

3. Divi’s Laboratories rose by 5.63% to Rs. 1618, after net profit rose by 67% to Rs. 379 crore in Q3FY2019.

Global Signals

Asian stock markets traded mixed on February 04, amid speculation over next steps in the dispute between the US and China over technology development, and trade following meetings in Washington last week.

European stock markets were slightly lower, as market participants kept a close eye on a series of corporate results.

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DAILY MARKET INSIGHTS – 5th Feb 2019

The Future Market’s Financial NewsLetter – 4th Feb 2019

Know why Reliance Communications shares have dropped 50% – 4th Feb 2019

Budget 2019 Key Benefits: Finance Minister presents Union Budget 2019 in Parliament

4th Feb 2019 Stock Ideas – The Future Market’s watch window

Quick Finance Updates

The Future Market’s Financial NewsLetter – 1st Feb 2019

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financial-newsletter-670x335Corporate Financial Updates from The Future Market’s Watch Window on 1st Feb, 2019

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Budget 2019 Key Benefits: Finance Minister presents Union Budget 2019 in Parliament

31st Jan 2019 Stock Ideas – The Future Market’s watch window

STOCK IDEA’S for Feb-2019 by Sharekhan as on 1st Feb 2019

Indiabulls Housing Finance FY2019-Q3 net profit falls by 14% yoy – 31st Jan 2019

Quick Finance Updates