2021-09-06 06:10:22
· Jammu & Kashmir Bank: RBI has accorded approval to Government of Jammu and Kashmir to acquire 16.76 crore fully paid-up equity shares on preferential basis, representing 74.24% of equity capital of the bank, subject to compliance of regulatory requirement – Positive
· ICICI Bank - IRDA has also granted approval to ICICI Bank for bringing down its stake in ICICI Lombard to 30 per cent, subject to compliance with the Insurance Act, 1938 and applicable regulations.- Positive
· Auto stocks Focus - Automobile PLI scheme to be announced next week - To increase competitiveness and take the growth of the sector to the next level, the Narendra Modi government may announce an automobile Production Linked Incentive (PLI) scheme next week, sources privy to the developments told CNBC-TV18. – We are positive on Maruti, M&M, Tata Motor and Eicher Motor.
· M&M Financial – August disbursement Rs2150cr, Collection efficiency 97%, Mahindra Financial witnessed meaningful cut in NPA contract, company says NPA trajectory to continue in September. – Positive
· Hero MotoCorp opens booking for next lot of 'PAN AMERICA 1250' - Harley-Davidson, the legendary motorcycle brand and Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, have expanded the touch points for customers in the country. – Positive
· Mr Sridhar Ganesh retires as independent director of Equitas Small Finance Bank – Any sharp decline buying opportunity for long term
· Bajaj Health Care received a license agreement from DRDO on 7th July, 2021, to manufacture and market 2-Deoxy-D-Glucose – Positive
· Ashoka Buildcon Ltd received LoA for EPC Work from Adani Road Transport worth Rs521.12cr.
· Engineers India Ltd bags project from Chennai Petro worth Rs1039cr
· Dr Reddy has entered into a definitive agreement with Citius Pharmaceuticalspursuant to which it sold all of its rights to E7777 and certain related asset. Under the terms of agreement, Dr. Reddy's will receive $40 million upfront upon the closing of the transaction – Positive
· Gokaldas Exports Ltd commences commercial production at Tumkur unit, Karnataka – Positive
· Indiabulls Housing Finance Limited announces ₹ 1,000 crore Public Issue of NCDs – Positive
· Newgen announces Key Management Changes, Names Virender Jeet as CEO, Tarun Nandwani as COO – Positive
· Federal Bank has announced the launch of its credit card, in association with Visa, the global leader in digital payments.
· Reliance Chairman Mukesh Ambani said on Friday that India and Reliance will aggressively pursue making green hydrogen the most affordable fuel. The fuel offers zero-carbon energy and is key to a sustainable world, he said. – Positive
· Mazagon Dock will partner with Russian Firm Zvezda for the construction of the some of the most important commercial ships in the world – Positive
· AM Best has affirmed the Financial Strength Rating of B++(Good) and the Long-Term Issuer Credit Rating of "bbb+"(Good) of The New India Assurance Company Limited. The outlook of these credit Ratings is Stable. – Positive
· E-commerce retailer Snapdeal Pvt is considering an IPO that could raise $400 million, joining a growing list of startups preparing to tap capital markets as the nation's digital economy booms. - Bloomberg
· Zen Technology bagged a new order worth Rs 155 crore from Indian Air Force. Zen Technologies said that the order pertained to the supply of Counter Unmanned Aircraft Systems (CUAS). The order will be
· carried out in a 12 month time frame. – Positive
· IHS Markit Service PMI rises to highest since February 2020 - August Service PMI at 56.7 vs 45.4 previous month – Positive for market sentiment
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