Thursday, 28 February 2019

Wipro | Bharti Airtel | Quick Heal | Vascon Engineers | Quess Corp | KSB

ARSS Infrastructure Projects | Jet Airways | Wipro | Quick Heal Technologies | Vascon Engineers and Quess Corp are stocks which are in the news today.

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Wipro: Company to sell Workday & Cornerstone On Demand operations to Alight for $110 million.
Bharti Airtel: Board meeting is scheduled on February 28 to consider (i) the recommendations of 'Special Committee of Directors for Fund Raising' and; (ii) the proposal for raising of funds by issue of equity shares, bonds/debentures or other securities including through qualified institutions placement, rights issue, preferential issue or through any other permissible mode or a combination thereof
Punjab National Bank: Bank reduced marginal cost of funds based lending rate (MCLR) by 10 bps.
Vascon Engineers: Company received work order amounting to Rs 83.52 crore from Airport Authority of India.
GE T&D has voluntarily delisted the equity shares of the company from The Calcutta Stock Exchange Limited w.e.f. February 21, 2019
Allahabad Bank: Board approved raising equity capital of the bank by an amount aggregating upto around Rs 6,896 crore through preferential issue of equity shares to the Government against their capital infusion.
Nitin Fire Protection Q3: Loss at Rs 87.5 crore versus loss Rs 85.6 crore; revenue falls to Rs 3.43 crore versus Rs 11.63 crore YoY.
Quess Corp: ICRA upgraded rating on company's long term fund based limits to AA/Stable from AA-/Positive and non-convertible debentures to AA/Stable from AA-/Positive.
Shipping Corporation of India: Company has given physical delivery of its 1 container vessel "M V Lal Bahadur Shashtri to its buyer.
Lakshmi Vilas Bank revised MCLR w.e.f. March 1
Varroc Engineering: Phase I of plant set-up by Varroc Lighting Systems S.A. Morocco (a wholly owned step down subsidiary company) has commenced commercial operations from February 26. Plant has been set up in Maroc with an aim to manufacture and supply automotive lighting parts.
KSB Ltd Q4CY18: Standalone profit dips to Rs 25.3 crore versus Rs 27.4 crore; revenue rises to Rs 346.6 crore versus Rs 328.2 crore; CY18 consolidated profit rises to Rs 71.6 crore versus Rs 70.9 crore, revenue increases to Rs 1,093.1 crore versus Rs 969.2 crore YoY. Board recommended Rs 6 per share of Rs 10 each (60 percent) as dividend for the year ended December 2018.
Vesuvius India: Board recommended a dividend at the rate of Rs 7 per share (70 percent).
Odisha Cement - certain mutual fund units, valued at approximately Rs 344 crore have been illegally and unauthorisedly transferred by the Depository Participant (DP) from the demat account held by our subsidiaries, OCL India and Dalmia Cement East.
Tata Metaliks in its board meeting  reviewed and discussed the opportunities for growth through capacity expansion at its existing plant in Kharagpur and consequent funding options
Meghmani Organics: National Company Law Tribunal approved the Scheme of Arrangement amongst subsidiaries of company.
PNB Housing Finance has submitted to the Exchange term sheet for NCD Series XLIX
PNB reduces MCLR from 8.15% to 8.05% w.e.f. March 1
ARSS Infrastructure Projects: Joint venture NPCC-ARSS received a work order of Rs 429 crore from National Highways & Infrastructure Development Corporation.
HAL clarified that during the Aero India 2019 held in Bengaluru the company has signed a MoU with CPWD for execution of stage wise infrastructure development of its Helicopter Factory, near Tumakur
Circuit Filter Revision: BSE revised circuit filter price band to 10 percent for Technofab Engineering and Adhunik Industries; to 5 percent for E-Land Apparel, Ind-Swift, and Veto Switchgears & Cables; and to 2 percent for Shree Global Tradefin.
Mangalam Seeds: Migration of equity shares of company from BSE SME Platform to BSE Mainboard Platform with effect from March 1.
IndusInd Bank - Credit ratings for debt securities issued by IndusInd Bank reaffirmed by CRISIL
Rane Madras - ICRA has withdrawn their rating of [ICRA] A (Stable) and [ICRA] A1 assigned to Rs 356.70 crore banking facilities and rating of [ICRA] A1 assigned to Rs 40 crore commercial paper
Out of F&O ban: IDBI Bank and Jet Airways.
Bulk Deals on February 27
GSS Infotech: Vicky Rajesh Jhaveri bought 1,64,486 shares of the company at Rs 117.24 per share on the NSE.
Shashijit Infraprojects: Rajiv Ishwarbhai Mistry bought 96,000 shares of the company at Rs 30 per share on the BSE.
Analyst or Board Meet/Briefings
Metalyst Forgings: Board meeting is scheduled on February 28 to consider and approve and take on record the unaudited financial results for the quarter and nine months ended December 2018.
ACC: Company's officials will meet investors on February 28.
Shanthi Gears: Company's officials will meet investors February 28.
Wockhardt: Meeting of Capital Raising Committee of the company will be held on March 19 to consider and approve alteration/ extension of the date of redemption of 16,00,00,000 0.01% non-convertible cumulative preference shares of face value of Rs 51 each held by Khorakiwala Holdings & Investments Private Limited (Promoter Group Entity) to such date as may be decided at the said meeting.
Container Corporation of India: Company's officials will meet analysts/investors on March 4, 7 and 12, will attend UBS India Midcap Conference 2019 on June 6.
Mahindra & Mahindra: Company's officials will meet analysts/investors on February 28, March 5, 8, 11, 12 and 14.
CESC: Company's officials will attend Daiwa Investment Conference during March 4-5 in Japan.
Quick Heal Technologies: Board meeting is scheduled on March 5 to consider a proposal for buy-back of the fully paid-up equity shares of the company.

Wednesday, 27 February 2019

Max India | Allahabad Bank | Corporation Bank | GMR | United Bank | Bharat Financial

GMR Infrastructure | United Bank of India | Panacea Biotec | Time Technoplast | Bharat Financial Inclusion and Sanofi India are stocks which are in the news today.

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Results on February 27: Metalyst Forgings, Nitin Fire Protection, Rain Industries, Vesuvius India, KSB, Merck.
Max India: Board approves selling 51 percent stake in Max Bupa Health Insurance for Rs 510 crore to True North. Enterprise value Rs 1,001 crore and company to complete Max Bupa stake sale in FY20.
BSE Limited: SP Kothari resigns as shareholder director to join Securities Exchange Commission, Washington.
PSU Banks: RBI removes Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from Prompt Corrective Action framework.
Greycells Education: American University of Ras Al-Khaimah (AURAK) has entered into a partnership with EMDI - Dubai, a wholly owned subsidiary of the company.
Future Retail: CARE reaffirmed A1+ rating for company's commercial paper.
MCX: Board of directors recommended the name of P S Reddy as the MD & CEO and a KMP of the Exchange to SEBI for seeking its approval.
Central Bank of India: Capital Raising Committee of the bank approved raising of equity capital by issuance and allotment of, upto 68,72,48,322 equity shares at the issue price of Rs 37.25 per share, aggregating to Rs 2,560 crore to government on preferential basis.
GMR Infrastructure: GMR Airports emerges as the highest bidder for greenfield airport at Bhogapuram in Andhra Pradesh.
ONGC: Its arm, Mozambique partners in LNG pact with Tokyo Gas & others.
IFCI: CARE cuts company's long term rating to BBB and downgraded NCD ratings to A- from ABBB+.
MRF: Workers call off strike at Chennai’s Tiruvottiyur plant.
Unichem Labs: Company filed plea with European Union court of justice versus general court order which upheld fine on company in Perindropil case.
Tata Steel: Board approves raising fund up to Rs 5,000 crore via NCDs.
Majesco: Company completed its previously announced rights offering pursuant to which 6,123,463 shares of Majesco's common stock will be issued, resulting in gross proceeds to Majesco of approximately $43.5 million.
United Bank of India: CRISIL has downgraded its ratings from A to A- / Stable for Rs 300 crore Tier I perpetual bonds (under BASELII), from AA- to
A+ / Stable for Rs 209 crore lower Tier II bonds (under BASELII) and from AA- to A+ / Stable for Rs 1,490 crore Tier II Bonds (under BASELIII).
Bank of Maharashtra: Board approved the proposal of raising of equity capital upto Rs 205 crore by way of issue of equity shares to Government on preferential basis.
Panacea Biotec: Board approved one time settlement with the consortium of lenders of the company; raising of funds through issue of listed/unlisted, secured/unsecured redeemable non-convertible debentures, aggregating upto Rs 864 crore; demerger of real estate business; raising of funds through issue of warrants by issuing up to 71,11,111 warrants of Rs 180 each, exercisable into equal number of equity shares of face value of Re 1 each of the company on a preferential basis amounting upto Rs 128 crore; and transfer of the pharmaceutical formulations business to a wholly owned subsidiary (to be incorporated), as a going concern.
Time Technoplast: Company and Confidence Petroleum India joined hands to give new thrust for making LPG available across India in blast proof composite cylinders.
Bharat Financial Inclusion: Company assigned a pool of receivables of an aggregate value of Rs 1,217.80 crore to one of the largest private sector banks on a direct assignment basis. With this transaction, the company has completed Direct Assignment transactions worth Rs 6,666.20 crore in FY19.
Share India Securities: Board approved the migration of the company from BSE SME platform to Main Board of BSE Ltd.
Sanofi India December Quarter: Profit rises to Rs 79.3 crore versus Rs 76 crore; revenue jumps to Rs 726.4 crore versus Rs 670.4 crore YoY. Board of Directors approved recommendation for payment of final dividend of Rs 66 per share for the year ended December 2018.
Maruti Suzuki: Company and Delhi Police joined hands for launch of automated red light violation detection and speed violation detection system.
HDFC Asset Management Company: Board approved payment of interim dividend of Rs 12 per share of Rs 5 each for the financial year ending March 2019.
Elantas Beck India Q3: Profit increases to Rs 14.35 crore versus Rs 14.15 crore; revenue rises to Rs 111 crore versus Rs 98.83 crore YoY. Board recommended payment of dividend of Rs 4.50 per share of Rs 10 each for the year 2018.
Action Construction Equipment: National Company Law Tribunal approved the Scheme of Amalgamation.
Indian Overseas Bank: Board approved the issue of equity shares on preferential basis to government for the capital infusion of Rs 3,806 crore received for financial year 2018-19.
Monte Carlo Fashions: Special resolution passed by the shareholders through postal ballot approving the buy-back of equity shares.
S Chand and Company: Company along with subsidiary Eurasia Publishing House acquired the remaining stake of 26 percent in Chhaya Prakashani and Chhaya has become the wholly owned subsidiary of the company.
Union Bank of India: Board of Directors approved the issue of 52,15,62,658 new equity shares on preferential basis to the government for an amount aggregating upto Rs 4,112 crore.
Wipro: NSE said on account of bonus issue in the ratio of 1:3, the adjustment factor for the corporate action shall be 1.3333 and the ex-date for the
corporate action shall be March 6.
Out of F&O ban: Allahabad Bank.
Bulk Deals on February 26
Gujarat Raffia-Roll: Virtue Ceramics Private Limited bought 25,000 shares of the company at Rs 14.45 per share on the NSE.
Sintercom India: Bellwether Capital Private Limited purchased 1,34,000 shares of the company at Rs 59.34 per share.
Analyst or Board Meet/Briefings
Allcargo Logistics: Analyst/Institutional investor meeting is scheduled to be held on February 27.
Voltas: Company's officials will meet Alquity Funds on February 27.
Cummins India: Company's officials will meet analysts/investors on February 28.
Union Bank of India: Extraordinary general meeting of the shareholders to be held on March 26.
Cera Sanitaryware: Extra-ordinary general meeting is scheduled to be held on May 15.
Ambuja Cements: Company's officials will meet GIC (P) Singapore on February 27.
Andhra Bank: Extraordinary General Meeting of the bank is scheduled to be held on March 22.
Mayur Floorings: Board meeting is scheduled on March 7 to consider the approval of bank loan and disposal of fixed assets of erstwhile marble and granite processing machinery due to discontinuation of business.
Tide Water Oil (India): Board meeting is scheduled on March 14 to consider payment of 2nd interim dividend for the year 2018-19.

Tuesday, 26 February 2019

Indices extend losses with Sensex falling over 450 pts, Nifty below 10,750

All the sectoral indices are trading in red led by metal, auto, bank, pharma and energy.

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Market Update: Indices extended morning losses with Nifty trading below 10,750 level, while Sensex declined over 450 points.
The Sensex is down 460.18 points at 35753.20, while Nifty is down 139.90 points at 10740.20. About 331 shares have advanced, 1373 shares declined, and 78 shares are unchanged. 

Britannia Industries to replace HPCL: Shares of Britannia Industries rose 5 percent on Tuesday after it is going to replace HPCL in Nifty50 index from March 29.

Buzzing: Shares of Bliss GVS Pharma rose 1 percent in the early trade on Tuesday after company board gave the approval to increase the FPI/FII investment limit in the company.
The company board in its meeting held on February 25 approved the increase of foreign portfolio investors (FPIs)/foreign institutional investors (FIIs) limits from 24 percent to 74 percent in the company.

Market Opens: The geopolitical tension on Indo-Pak border has pulled the Nifty below 10,800 in the opening trade, while Sensex is down over 200 points.
The Sensex is down 241.49 points at 35971.89, while Nifty is down 81.60 points at 10798.50. 
About 171 shares have advanced, 780 shares declined, and 41 shares are unchanged. 

Top gainers are Bharti Infratel, Asian Paints and HCL Tech, while losers include Yes Bank, SBI, Indiabulls Housing, JSW Steel, Hero Moto, ONGC, ICICI Bank, Hindalco, Vedanta, Bajaj Fiance and Rain Industries, Jet Airways and Spicejet.

Rupee Opens: The Indian rupee slipped in the early trade on Tuesday. It opened lower by 28 paise at 71.26 per dollar versus previous close 70.98.

Market at pre-open: Benchmark indices slipped in the pre-opening trade with Nifty trading below 10,850 level.
At 09:02 hrs IST, the Sensex is down 123.65 points or 0.34% at 36089.73, and the Nifty down 35.60 points or 0.33% at 10844.50.

Crude update: Oil prices edged higher on Tuesday, finding steady ground after tumbling more than 3 percent in the previous session when U.S. President Donald Trump called on OPEC to ease its efforts to boost the market.

SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46 points or 0.42 percent. Nifty futures were trading around 10,846.50-level on the Singaporean Exchange.

Wall Street ends higher: Wall Street's three major indexes ended higher on Monday but well below the session's highs after President Donald Trump said he would delay a planned hike in tariffs on Chinese imports.

Monday, 25 February 2019

RIL | Motilal Oswal | IIFL Holdings | Sharon Bio | Wipro | Kaveri Seed

Tulive Developers | Power Grid | City Union Bank | Vyapar Industries and NTPC are stocks, which are in news today.

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Results on February 25: JMT Auto, Khaitan India, Rollatainers, United Drilling Tools.
NBFCs: RBI to merge 3 categories of NBFCs to create a new category called NBFC-ICC.
Motilal Oswal, IIFL Holdings: SEBI declares commodity arms of Motilal Oswal, IIFL 'not fit and proper'.
IIFL Holdings clarification: SEBI order on IIFL Commodities has no impact on businesses of other companies of IIFL Group.
Motilal Oswal Financial Services clarification: SEBI order against subsidiary company Motilal Oswal Commodities Broker Private Limited will have no impact on overall business activities of companies of Motilal Oswal group.
Tata Metaliks board meeting will be held on February 27, 2019, to consider, a proposal for raising of funds
NTPC: Nabinagar Thermal Power Project has been declared running a commercial operation.
Wipro gets approval to issue of bonus shares and increase in authorized share capital
Sharon Bio-Medicine: API facility located at Taloja, Maharashtra received 4 Form 483 observations after the inspection completed by USFDA
Corporation Bank: Company received Rs 9,086 crore from Government of India.
Mold Tek Packaging inaugurates 9th Manufacturing Plant at Pudi (Vizag)
Hubtown: Company divested and transferred its entire holding of 4,720 equity shares in its subsidiary Heet Builders.
Tulive Developers: Board approved the buyback of up to 4,80,000 equity shares of the company at a price of Rs 350 per equity share.
Vyapar Industries: Board approved the buyback of up to 15,30,000 equity shares of the company at a price of Rs 29 per equity share.
Tata Investment Corp completed extinguishment/destruction of 45,00,000 fully paid-up equity shares of face value of Rs 10 each
India Motor Parts sales 2.68% stake (1,20,52,112 equity shares) in Royal Sundaram General Insurance to Ageas Insurance International N.V.
Piramal Enterprises board decided to withdraw the issue of privately placed secured Non-Convertible Market Linked Debentures aggregating upto Rs 130 crore
Jet Airways: An additional two aircrafts have been grounded due to non-payment of amount outstanding to lessors under their respective lease agreements.
GVK Power & Infrastructure: Equity shareholding of the GVK Group will increase to 64 percent from the existing 50.5 percent of the total paid-up share capital of Mumbai International Airport Limited after the acquisition of 13.5 percent stake from Bid Services Division (Mauritius).
City Union Bank inaugurated 4 new branches in Tamil Nadu
Shakti Pumps: Akhilesh Maru tendered his resignation from the post of Chief Financial Officer as he is looking to start his own enterprise.
Adani Green Energy: Company awarded 150 MWac solar power project to its wholly-owned subsidiaries.
Adani Power: Board approved the proposal for acquisition of entire stake of Adani Power Dahej Limited; Adani Pench Power Limited; and Kutchh Power Generation Limited, which are wholly owned subsidiaries of Adani Enterprises (AEL) from AEL.
Adani Ports & Special Economic Zone: Subsidiary Adani Logistics approved the proposal for acquisition of 100 percent equity shares of Adani Agri Logistics Limited, Adani Agri Logistics (Dahod) Limited, Adani Agri Logistics (Darbhanga) Limited and Adani Agri Logistics (Samastipur) Limited from Adani Enterprises Limited.
Sandhar Technologies: India Ratings and Research assigned a rating of A1+ to company's commercial paper.
Lux Industries: Company incorporated subsidiary Altai Industries Private Limited.
CARE has reaffirmed credit rating on the bank facilities of PNC Infratech's subsidiary, MP Highways as CARE A with stable outlook
Manappuram Finance: Board approved equity infusion up to Rs 100 crore in its subsidiary Asirvad Micro Finance Ltd.
Tilaknagar Industries Q3: Consolidated loss at Rs 49 crore versus loss Rs 16.6 crore; revenue rises to Rs 425 crore versus Rs 366.5 crore YoY.
Asahi Songwon Colors: Company planned a shutdown of CPC Crude Blue Plant at Padra, Vadodara with effect from February 24 to carry out the periodic maintenance, which will affect CPC crude blue production for the quarter ending March 2019. The shutdown is expected to last up to March 7, 2019.
SKF India: Company closed its share buyback.
Manugraph India: Suresh Narayan, Chief Financial Officer of the company has decided to pursue other opportunities and tendered his resignation.
Allahabad Bank: Out of the capital infusion fund of Rs 6,896 crore received from the Government of India, Rs 2,750 crore has been appropriated to make loan loss provision in order to bring down the net NPA ratio below the threshold under Prompt Corrective Action Framework and remaining
Rs 4,146 crore has been appropriated towards shoring up the capital base so as to enhance the Capital to Risk Weight Asset Ratio (CRAR).
Kotak Mahindra Bank: Mark Newman, a Non-Executive Non-Independent Director of the bank has resigned from the board.
PVP Ventures: Company approved the Scheme of Amalgamation amongst PVP Ventures Limited, Picturehouse Media Limited, PVP Media Private Limited and PVP Cinema Private limited & their respective shareholders and creditors.
Birla Precision Technologies: Company approved the issue of 6,07,005 equity shares at Rs 16.24 each on preferential basis to Zenith Dyeintermediates Limited, promoter company.
Mcleod Russel: Company announced execution of Memorandum of Understandings by the wholly owned subsidiary (WOS) for disposal of its stake in one of its subsidiaries and disposal of a part of its holding in another subsidiary by the WOS.
Hindustan Zinc: Agnivesh Agarwal steps down as Chairman and Director of company to pursue other interests.
Reliance Industries: Subsidiary Reliance Industrial Investments and Holdings Limited (RIIHL) entered into agreement for acquisition of equity shares of software service and data solutions company Surajya Services Private Limited (Easygov) for up to Rs 18 crore. RIIHL will further invest an amount up to Rs 50 crore. The said investment upon completion will translate into 76 percent equity stake in Easygov on a fully diluted basis. The total investment is likely to be completed by March 2021.
Reliance Industries: Subsidiary RIIHL entered into an agreement for acquisition of equity shares of software company SankhyaSutra Labs Private Limited (SSL) for up to Rs 16,02,08,808. RIIHL will further invest an amount of up to Rs 200 crore and is likely to be completed by December 2021. The said investment will translate into around 83 percent of equity capital in SSL on a fully diluted basis.
Reliance Industries: RIIHL entered into a agreement for acquisition of equity shares of Reverie Language Technologies Private Limited (Reverie) for up to Rs 190 crore. RIIHL will further invest an amount up to Rs 77 crore. The said investment upon completion will translate into 83.30 percent equity capital in Reverie on a fully diluted basis.
Stocks Out of F&O Ban: Reliance Capital, Reliance Infrastructure, Kaveri Seed Company
Bulk Deals on February 22
IndInfravit Trust: Omers Infrastructure Asia Holdings Pte Ltd bought 8,28,00,000 shares of the company at Rs 104.5 per share on the NSE. However, ICICI Prudential Mutual Fund (1,00,00,000 shares), L&T Transportation Infrastructure Limited (26,00,000 shares), Larsen & Toubro Limited (6,62,00,000 shares) and Yes Bank (26,00,000 shares) were net sellers at same price.
Kotak Mahindra Bank: ING Mauritius Investments I sold 2,92,26,738 shares of the bank at Rs 1,228.51 per share and bought the same number of shares at Rs 1,225.14 per share.
Nagarjuna Oil Refinery: Zuari Investments sold 25,24,278 shares of the company at 38 paise per share.
Refex Industries: Sheil Atulbhai Patel sold 90,000 shares of the company at Rs 27.5 per share.
Reliance Communications: STCI Finance Limited sold 2,60,00,000 shares of the company at Rs 6.75 per share.
Sanco Industries: Ajay Kumar Bokadia sold 98,100 shares of the company at Rs 13.90 per share.
Silver Touch Techno: Thakkar Keyur Balkrishna HUF purchased 72,000 shares of the company at Rs 122.05 per share.
Sintercom India: Pivotal Enterprises Private Limited sold 1,64,000 shares of the company at Rs 58.92 per share.
Analyst or Board Meet/Briefings
Som Distilleries & Breweries: Board meeting is scheduled on March 2 to consider allotment of 12,88,906 equity shares upon conversion of an equal number of convertible warrants and to convey an EGM on March 26.
Zeal Aqua: Company's officials will be meeting Trust Capital, M3 Investments and Moneybee Securities on February 25 in Mumbai.
KNR Constructions: Company will be participating in HDFC Infra Day conducted by HDFC Securities on February 25 in Mumbai.
Power Grid Corporation: Board meeting scheduled on March 7 to consider and approve the declaration of interim dividend for the financial year 2018-19.
Pacific Industries: Board meeting is scheduled on February 27 to consider the rights issue of equity shares to the existing shareholders of the company.
Ashoka Buildcon: Company will be attending the Investors Conference organised by HDFC Securities on February 25 in Mumbai.
PNC Infratech: Company will be attending the Investors Conference organised by HDFC Securities on February 25 in Mumbai.
JMC Projects: Company will be attending the Investors Conference organised by HDFC Securities on February 25 in Mumbai.
Tata Chemicals: Company's officials will meet Baron Capital Managment Inc on February 25.
Escorts: Company has scheduled meeting with TT International HK on February 25.
Mahindra & Mahindra: Company's officials will meet UBS Global Asset Management and Janus Henderson Investors on February 26, and GIC Singapore on February 27 in Mumbai.
Fine Organic Industries: Officials of the company will be interacting with investors and analyst on February 25 and 26.
Mahanagar Gas: Company's officials will meet Mathews International on February 25.
Endurance Technologies: Various meetings have been planned with institutional investors on certain dates during the next two weeks starting February 25.
Welspun Enterprises: Company will be attending HDFC Infra Day Conference on February 25.
Ahluwalia Contracts: Company will be attending HDFC Infra Day Conference on February 25.
Eris Lifesciences: Company's officials will meet Investec Capital Services (India) Private Limited on February 25.
Syndicate Bank: Board meeting is scheduled on February 27 to consider raising of equity capital by way of preferential allotment.
Dr Lal PathLabs: Company's officials will meet C Worldwide Asset Management on February 25 and Bay Capital on February 27.
Tata Motors: Company's officials will meet analysts/investors during February 25 and 28.
Share India Securities: Board meeting is scheduled on February 26 to consider the proposal for migration of company's present listing on BSE SME Platform to the BSE Main Board Platform.
Welspun Corp: Extra Ordinary General Meeting of the company to be held on March 19.
Disclaimer: Reliance Industries is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments.

Saturday, 23 February 2019

Over 6% of Promoter Holdings in BSE 500 Companies Pledged see the Result

Promoters of 116 companies pledged their holdings in December quarter in the BSE-500 index compared to 114 in September 2018 quarter

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The percentage of pledged promoter (by majority shareholder) holdings in BSE 500 companies was steady overall in the December 2018 quarter in comparison to the September quarter, showed a Kotak Institutional Equities report. Free share market tips
The percentage of pledged promoter holdings was at 6.7 percent in the December quarter similar to that of September 2018. Outstanding promoters pledged shares worth Rs 1.96 trillion, which is about 1.47 percent of the total BSE-500 index’s market capitalization in December 2018, said the report.
Promoters of 116 companies pledged their holdings in the BSE-500 index compared to 114 in September 2018 quarter. Out of 116, 30 companies saw an increase in pledge holdings by 2-21 percent in the December quarter (QoQ).

(Note: Stocks mentioned are for information only and not buy or sell ideas)
Six companies had more than 90 percent of their promoter holdings pledged. These include CG PowerKwalityReliance NavalIL&FS TransportSterlite Technologies and Hindustan Construction.
Kotak in the note clarified that pledging of shares does not necessarily imply that a company or a promoter is under financial stress; it could also be that banks (lenders) could have sought additional security in the form of promoter shares.
The maximum decline in pledged promoter holdings was seen in 26 companies in December quarter which includes names like Fortis Healthcare, Suzlon Energy, Advanced Enzyme Technologies, Adani Transmission and Indiabulls Housing Finance.
Fresh promoter pledges were seen in Texmaco Rail, Uflex and Wockhardt, while promoters who revoked their entire pledged holdings was seen in Sonata Software.
Companies in the Nifty-50 with more than 5 percent of pledged promoter holdings include names like Zee Entertainment (59.4%), Adani Ports & SEZ (45.5%), JSW Steel (43.6%), IndusInd Bank (26.4%) and Indiabulls Housing Finance (12.7%).
Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Friday, 22 February 2019

Kotak Mahindra Bank | BEL | Allahabad Bank | Tata Steel | Kaveri Seed

Gabriel India | Allahabad Bank | Bank of Baroda | Tata Steel | Kaveri Seed and BEL are stocks which are in news today.

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Results Today: Tilaknagar Industries, CHPL Industries, and Sang Froid Labs
ING Mauritius Investments to further sell a stake in Kotak Mahindra Bank
Bank of Baroda to invest Rs 4,638 crore in equity of bank by way of preferential allotment
SIS Australia Group Pty Ltd., a subsidiary of Security & Intelligence Services has signed definitive agreements to acquire initially 51% shareholding in Platform 4 Group
Gabriel India's Chief Financial Officer Rajendran Arunachalam resigns
BEL signs teaming agreement with Hughes India for Helicopter satcom solutions
BEL signs MOU with JSR Dynamics for manufacture and sale of Glide Weapons and Light Weight Cruise missiles
RCom seeks lenders' nod for release of Rs 260 cr in bank account to Ericsson
SEBI fines Rs 6 lakh on Taneja Aerospace, 2 others for disclosure lapses
Kaveri Seed Company clarifies that the Government of Andhra Pradesh has suspended the licenses of 14 Seed Companies including the Kaveri Seed Company on 28th January 2019. The said suspension has no impact on the budgeted sales of the Company
Tata Steel board to consider and approve the issuance of unsecured Non-Convertible Debentures on private placement basis on February 26
AU Small Finance Bank entered into an agreement with ACKO General Insurance Company for General insurance as Corporate Agent
Government of India to infuse Rs 6,896 crore in Allahabad Bank
Dyanamatic Technologies signed a MoU with SAAB Technologies with an intent to explore future joint opportunities in commercial and defense related work.
BEML signed a ‘Certificate of Partnership’ with Lockheed Martin Aeronautics
NBCC incorporated NBCC DWC-LLC subsidiary for Conceptualizing & Construction of India Pavilion at World Expo-2020, Dubai and other similar works.

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OPENING BELL SENSEX UP 85.05 @ 38692.06 NIFTY UP 16.15 @ 11612.85 BANKNIFTY DOWN 5.55 @ 29780.55 USD/INR 69.072 ...