All You Need To Know Going Into Trade On September 25

Stocks To Watch

• GMR Infra: Announces divestment of group's entire stake in Kakinada SEZ. To sell 51% stake to Aurobindo Realty for Rs 2,610 crore. Out of the total sum, Rs 1,600 crore will be received on the closing date while the rest will be received in the next 2-3 years, contingent upon certain agreed milestones. Proceeds will be used to pare debt.
• Cipla: Gets final approval from the U.S. FDA for generic version of Biogen IDEC's Tecfidera capsules 120 mg, 240 mg and 120 mg/240 mg starter pack. The drug is used in the treatment of relapsing forms of multiple sclerosis. As per IQVIA data, Tecfidera had U.S. sales of approximately $3.8 billion, for the 12-months ending July 2020.
• Tata Consumer Products: Bloomberg News reports that the company is weighing a non-binding bid for the vending machine business of Coffee Day Enterprises, which is seeking a valuation of about Rs 2,000 crore.
• I.T. Stocks: Accenture's fourth quarter results were below analyst expectations. The company's CFO, in a conference call stated that is expects growth to be lower in the first half of FY21 (September-February) and that growth in the second half can range between single digits to low double-digits.
• Shriram City Union Finance: RBI imposed a penalty of Rs 5 lakh on the company for non-compliance with directions issued on verification of the ownership of gold jewellery contained in the company.
• Mahindra & Mahindra: Increased its stake in Finnish associate company Sampo to 74.97% from 49.14%. Sampo is a European combine harvester company, known for mid-sized combine harvesters.
• GAIL: Says ONGC plant fire has cut gas supply by 30 MMSCMD and has cut gas supply to end users by 40%. The company stated that it cotinues to maintain supplies for City Gas Distribution business. The company buys gas from ONGC's Hazira plant for users and its pipeline network has been unharmed by the fire.
• TCS: To help build greenfield I.T. ecosystem for Maurices - a women's fashion-apparel retail chain in the U.S. and Canada.
• Nippon Life AMC: Received joint mandate along with another fund manager to manage the investments for Post Office Life Insurance Fund and Rural Post Office Life Insurance Fund for a period of three years, starting October 1.
• Marico: Sold its entire stake in fitness app Revolutionary Fitness (‘Revofit’)..
• Balkrishna Industries: Current President (Financial) Madhu Sudan Bajaj appointed as CFO from September 24.
• HUDCO: Achieved loan sanctions worth Rs 2,607.12 crore and loan releases of Rs 3,277.04 crore, as on August 31, for FY21.
• RITES: Awarded turnkey contract worth Rs 205.85 crore for construction of road over bridges in replacement of existing level crossings on competition basis from the Railway Board.
• Sadbhav Engineering: CARE Ratings downgraded long-term bank facilities to CARE BBB+ from CARE A-. Outlook has been revised to credit watch with negative implications from stable.
• IRB Infra Developers:: Received completion certificate for Yedeshi-Aurangabad BOT project. The company will collect toll at full rates on this project.
• Max Ventures & Industries: Clarified that news on suspicious fund flows by some of the company’s unlisted entities as totally misconceived and baseless.
• Biocon: SEBI levied a fine of Rs 5 lakh on an employee for violating insider trading norms while dealing in the scrip of the firm.
• Angel Broking: IPO subscribed 3.95 times on the final day. Institutional subscription at 5.76 times, non-institutional subscription at 0.69 times and retail subscription at 4.32 times.