Stocks in the news: Lupin, Cadila Healthcare, Bhushan Steel, Dilip Buildcon, NBCC, Dixon

Business News

Here are stocks that are in the news today:

Titan Company: While the Watch business carried on its good run from the first quarter, the growth in the Jewellery business picked up very well after a relatively soft growth in Q1’19.

Bhushan Steel: Production in Q2FY19 at 1.05 million tonne versus 0.85 million tonne and sales at 1.14 million tonne versus 1.03 million tonne (YoY). Q2 FY19 production is higher than Q2 FY18 mainly due to better plant availability.

Indiabulls Housing Finance: Company allotted its Seventh tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 350 crore.

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Thomas Cook (India): ICRA has withdrawn its credit rating assigned to Rs 100 crore non-convertible debentures programme of the company as the same were fully redeemed and there is no amount outstanding against it.

Future Consumer: CARE has re-affirmed its rating assigned to the company in respect of bank facilities, non- convertible debentures and commercial paper.

Dilip Buildcon: Company received letter of acceptance (LOA) for a new EPC project ‘Navnera Barrage (Dam) under Phase I/(A)’, valued at Rs 601.02 crore by the Water Resource Department, Kota, Rajasthan.

Jet Airways: lCRA revised the long term rating to B (negative outlook) from BB (negative outlook) and reaffirmed short term rating at A4. This long term rating downgrade has primarily been attributed to the impact of steep increase in jet fuel prices and rupee depreciation as well as the delays in implementation of liquidity initiatives by the company.

Cadila Healthcare: Company’s biologics manufacturing facility (Zydus Biologics) received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The plant had completed the USFDA audit during August 14-24, 2018 with zero 483 observations.

Lupin: Company launched generic Potassium Chloride Oral Solution which is indicated for the treatment and prophylaxis of hypokalemia with or without metabolic alkalosis, in patients for whom dietary management with potassium-rich foods and/or diuretic dose reduction are insufficient.

Indiabulls Real Estate: Yashita Buildcon, a wholly owned subsidiary of the company, on satisfactory completion of closing conditions, taken over the possession of the prime and newly constructed commercial building at Gurugram.

JK Tyre & Industries: CARE revised rating on company’s long-term bank facilities to A+/Negative from A+/Stable and reaffirmed for short-term bank facilities to A1+.

VXL Instruments: Company has sold its property in Bengaluru to Methode Electronics India Private Limited.

Nitesh Estates: Company was not involved in any slump sale or transfer of investments in Nitesh Office Parks Private Limited (NOPPL).

Sical Logistics: The company and Giri Vidhyuth entered into the agreement, pursuant to which the company has agreed to issue and allot 29,18,570 equity shares of the company on a preferential allotment basis to Vidhyuth, at a price of Rs 195 per share aggregating to 56.91 crore. The funds raised by the company are proposed to be utilised discharging certain unsecured liabilities.

Bharat Gears: Company’s board meeting is scheduled to be held on October 9 to consider the rights issue of equity shares to the existing shareholders.

Kushal: Board considered that to conserve the cash resources to meet the expected outflow of funds for ongoing acquisition plan in near foreseeable future, it inexpedient to declare any dividend.

Aster DM Healthcare: Company clarified that it entered into a hospital management agreement with AFE Babalola University Ado-Ekiti, a non-profitable and well established university licensed by Nigeria government.

AI Champdany Industries: Shares of the company has been delisted from National Stock Exchange of India. However, the company’s equity shares shall continue to remain listed in the BSE Limited.

Dixon Technologies: Company commenced manufacturing of Mi LED TVs for Xiaomi in Andhra Pradesh.

TVS Motor Company: Company introduced TVS Jupiter Grande for the festive season.

SRG Housing Finance: Brickwork Ratings reaffirmed the ratings for the bank loan facilities (existing and proposed) amounting to Rs 255 crore and NCDs of Rs 20.69 crore.

NBCC (India): In the case of Amrapali Group pending before the Supreme Court of India, company received relevant daily orders of the court wherein court has appointed the company to develop the projects. Further NBCC has been permitted to float the tenders and go ahead with preparation of Detailed Project Reports (DPRs) and also to submit the detailed proposals, terms and conditions before the Supreme Court.

Jaiprakash Power: ICICI Bank has filed an insolvency plea against company in NCLT, Ahmedabad.

A2z Infra Engineering: Globe Fincap continued to be seller in company’s shares on Thursday. It sold 11,40,000 shares at Rs 8.34 per share, in addition to 18,04,448 shares sold on Wednesday.

Agro Phos India: Sah Fintrades bought 1,14,000 shares of the company at Rs 34.5 per share.

Navkar Corporation: Reliance Mutual Fund bought 35,00,000 shares of the company at Rs 78 per share whereas Goldman Sachs India Fund sold 39,80,018 shares at Rs 78 per share.

Viji Finance: IFL Promoters bought 4,50,000 shares of the company at Rs 3.73 per share.

Manorama Industries: India Max Investment Fund sold 1,02,600 shares of the company at Rs 192.63 per share.




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