Stocks in News: Lupin, Corporation Bank, Bharti Airtel, Thermax, PC Jeweller
A view at the stocks that are making headlines these Days:
February 26 Results: The Sanofi India, Elantas Beck, Richa Industries, Shailja Commercials.
Emco: Mr. Sanjay Bhatnagar tendered his resignation as Independent Director and resigned from all memberships of committees of the firm.
Lupin: The Company has received the approval of USFDA for the manufacture of Methylprednisolone drug.
Mastek: IDFC AMC Limited ( The Investment Manager of IDFC Mutual Fund) through its various schemes and policies in addition to the additionally acquired valued shares in the company to the extent of 0.0225 percent which has resulted in holding up to 5.0223% of the paid capital of the firm.
HIL: India Research and Ratings assigned long term credit rating as AA- with a stable outlook for loan facilities worth Rs 276 crore:
Antel and Tata Communications board have approved the proposal of capital raising plan to the extent of Rs 12,500 crore.
The capital raising plan proposal that was offered to the limit of Rs 12,500 crore has been approved by the Corporation Bank board.
Bharat Forge clarified that it had signed a Memorandum of Understanding (MoU) with Bharat Electronics (BEL) on February 21, 2019, at Aero India Show, 2019, Bengaluru
Indostar approved the issue of NCD of Rs 150 crore worth on the basis of Private Placements.
The increase of Foreign Portfolio was approved by the Bliss GVS board Investors/Foreign Institutional Investors limits from 24% to 74% in the company.
The Lakshmi Vilas Bank: Brickwork Ratings India revised the rating from BBB+ to BBB- (Credit watch with Developing Implications) for unsecured redeemable non-convertible subordinated lower Tier 2 Bonds – Series 7 (B Option) of Rs 50.50 crore.
Hi-Tech Gears: Vijay Mathur has proposed his resignation from the post of the Chief Financial officer; but, he will continue to be Senior General Manager (Finance). Dinesh Chand Sharma has been elevated to the post of Chief Financial Officer.
Corporation Bank: Board approved the proposal of capital raising plan to the extent of Rs 12,500 crore by way of either issue and allotment of equity shares on preferential basis or by way of additional tier 1 bonds of Tier 2 bonds or follow public The normal issues or qualified institutions placement or issue and allotment of valued shares on the basis of preferences to the Indian Government, the debt issue or in combination of these whereabouts.
Thermax: The Company has entered into a definitive agreement with Mutares Holding-24 AG, Germany, and Balcke-Duerr GmbH, Germany, JV partners of Thermax SPX Energy Technologies Limited (TSPX) to acquire their shareholding in the TSPX a JV and subsidiary company in India. Post-transfer of shares TSPX will become the wholly owned subsidiary of the company.
The Sharda Motor Industries: Company has entered into the joint venture (JV) agreement with Eberspaecher Exhaust Technology International GmbH (EET) for business too. Board has principally agreed to the proposed demerger of the automobile seating business.
The Bharti Airtel: A Ciena to build one of the world’s largest photonic control plane networks within India itself in order to deliver ultra-fast data over 4G, 5G and FTTH. The Network is to span 130,000 Kms and connect 4000+ towns across India.
The Tejas Networks: The company launched the world’s first ultra-converged broadband product at Mobile World Congress, Barcelona.
Out of F&O Ban: PC Jeweller
Huge Deals on 25th Feb
The Avadh Sugar & Energy: Life Insurance Corporation (Scheme 5) sold 58,259 shares of the company at Rs 475.83 per share on the NSE.
NALCO: The ICICI Prudential Mutual Fund-Bharat 22 ETF sold 1,24,12,768 shares of the company at Rs 48.03/share.
The Viji Finance: Vijay Kothari sold 7,51,650 shares of the company at the price of 70 paise per share.
The Bharti Airtel: Board meeting is scheduled on February 28 to consider 1.) the recommendations of ‘Special Committee of Directors for Fund Raising’ and 2.) the proposal for raising for funds by issue of shares based on equities, the bonds or debentures or any other securities including well-qualified institution placements, right issues preferred issue or through any other permissible mode or a combination thereafter.
Mahindra Financial Services: Company’s officials will meet the Aditya Birla Sun Life on February 27.
India Tube Investments: Company’s officials will meet analysts/investors on 26th and 27th of Feb.
The Corporation Bank: Extraordinary General Meeting of the shareholders of the bank to be held on March 27, 2019.
Generic Pharmasec: The Board will be held on 28th Feb to consider sub-division of equity shares (face value of Rs 10 per share) of the company.