STOCK IN FOCUS TODAY AND ASIAN MARKET RALLY
Larsen & Toubro: Larsen & Toubro on Tuesday
reported a 84% in its consolidated net profit to Rs 1,435 crore for the
quarter ended September 30 as compared to Rs 778 crore in the same
period last year.
Wockhardt informed the Exchange that USFDA has issued a
Warning Letter to C P Pharmaceuticals Limited, Wrexham, United Kingdom,
a stepdown Subsidiary of the Company.
Sun Pharma: The company announced the execution of
definitive agreements by its wholly owned subsidiary, for the
acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company
engaged in manufacture and marketing of pharmaceutical products in
Russia and CIS region.
Siemens: The company will announce its Q2 numbers today.
Canara Bank: The bank is planning to sell a portion of
its 43% stake in arm Can Fin Homes as part of the government's diktat
asking public sector banks look to sell their noncore businesses.
UltraTech Cement: The company on Tuesday said the
Competition Appellate Tribunal (COMPAT) has granted a stay on an order
passed by the fair trade regulator Competition Commission of India
against the company on deposit of 10% of the penalty amount.
Birla Corporation: Birla Corporation reported an over
two-fold jump in standalone net profit at Rs 58 crore for the second
quarter ended September 30, 2016. It had registered a net profit of Rs
23 crore in the year-ago period.
EIH Ltd: The company that runs hotels and resorts
under Oberoi and Trident brands said it plans to delist its global
depository receipts from the London Stock Exchange in February 2017.
Reliance Industries: CAG has pulled up the Income Tax
department for giving benefit of Rs 1,767 crore to the port and terminal
arm of Reliance Industries by allowing deductions meant for public
facilities to the company's captive jetties.
Britannia Industries: Britannia Industries is planning
to double its turnover in the next four to five years and also planning
to expand presence overseas in a big way as part of its growth
strategy.
Bharti Airtel: The telecom company said its customers
in the city could face some "teething issues" over the next few days as
the country's largest telecom operator upgrades its 3G network.
A2Z Infra Engineering: A2Z Infra Engineering that its
subsidiary company A2Z Green Waste Management has, on November 19,
agreed to a framework with one of its lenders for a settlement of its
various debt obligation aggregating to Rs 416.18 crore.
Gujarat Industries Power Company: The company has
informed bourses that two more wind turbine generators of 2.1 mw each
have been commissioned by GIPCL at the Nakhatrana Wind Farm Site in
Gujarat.
GMR Infra: GMR Enterprises Pvt. Ltd, the holding
company of Hyderabad-based infrastructure conglomerate GMR Group, is in
talks to raise around Rs300 crore in structured debt to refinance some
existing debt.
Reliance Communications: Reliance Communications on
Tuesday announced an unlimited voice plan at Rs149 for all customers.
The plan also includes 300MB of data usage, as per media reports.
Bliss GVS Pharma: Bliss GVS Pharma's Kenyan arm has
won a three-year contract worth USD 111.40 mn (around Rs 7.60bn) from
Aon Kenya Insurance Brokers.
Suven Life Sciences: Suven Life Sciences has secured
two patents -one each from China and Mexico -- for its new chemical
entities (NCEs) used in the treatment of neurodegenerative diseases.
NMDC: Leading steel companies across
the globe are showing interest in buying the Nagarnaar steel plant of
the National Mineral Development Corporation (NMDC), which is coming up
in Chhattisgarh’s Bastar district, as per media reports.
Vedanta Ltd: The company is looking at increasing its
captive power generation capacity by 1200MW amid rising production. The
company is considering setting up 350MW super-critical units in joint
ventures at its different production bases in the country. Asian stocks market are trading on a postive territory
on Wednesday taking a lead from record gains in the U.S. overnight that
were driven by continuing post-election exuberance. All eyes would be on
euro zone’s PMI readings and jobs and housing and durables orders data
due in the US later in the day.
Asian currencies continue to slide, indicating that offshore funds are pulling money from the region.
The Japanese market is closed for the day on account of Labour Thanksgiving Day.
China's Shanghai Composite is in the green. Chinese steel stocks rose
early Wednesday with iron-ore futures surging 8.5% on the Dalian
Commodity Exchange Wednesday morning.
South Korea’s Kospi index is at 1,993.51 points (up 0.50%) and
Indonesia’s Jakarta Composite is at 5,192.54 points (down 0.23%).
Taiwan’s Taiex is at 9,183.25 points (up 0.54%), Singapore’s Straits
Times is at 2,836.29 points (up 0.50%), Hong Kong’s Hang Seng is at
22,750.69 points (up 0.32%), Thailand’s SET Composite is at 1,490.22
points (up 0.30%) and Singapore Nifty is at 7,982 points (down 0.10%).
Wall Street closed higher on Tuesday. The Dow Jones Industrial Average
on Tuesday closed above 19,000 for the first time. It ended the day 0.4%
higher at 19,023.87 points. The S&P 500 was up 0.2%.
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