Stocks to watch: Cadila Health, NIIT, BEML, Dish TV, RIL, DLF, Coal India

Hot Stocks to watch: Cadila Health, NIIT, BEML, Dish TV, RIL, DLF, Coal India

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The domestic indices are poised for a firm start on Monday with the SGX Nifty trading nearly 0.3 per cent higher at 13,800 levels.

Here are the stocks to watch in today’s session:

Cadila Healthcare: Drug firm Zydus Cadila on Thursday said its vaccine against COVID-19, ‘ZyCoV-D’, has been found to be safe and immunogenic in the Phase I/II clinical trials, and the company is seeking regulatory approval to commence Phase-III trials.

NIIT: The board of NIIT has approved buyback of 98.75 lakh equity shares of face value of Rs 2 each. The buyback amounts to 6.97 per cent of the total equity. Teh buyback price of Rs 240 per share is at a 20 per cent premium to Thursday’s closing price.

BEML: The core group of secretaries on divestment, headed by Cabinet Secretary Rajiv Gauba, is likely to meet on Monday to finalise the strategic sale of BEML Ltd. The panel will meet to finalise the preliminary information memorandum and expressions of interest. READ HERE
DHFL: Oaktree Capital shot-off a letter to Reserve Bank of India on Sunday, ahead of voting by lenders on bids for DHFL which begins this week, alleging that inspite of it offering maximum value to stakeholders, there is a consistent campaign to misrepresent information about its bid.

Dish TV: Dish TV on Friday said it has received a demand notice from the government for payment of Rs 4,164.05 crore, which includes licence fee and interest. The Ministry of Information and Broadcasting (MIB) through a letter dated December 24, 2020 asked the Essel group firm to pay the said sum towards licence fee from the period from the date of issuance of DTH licence till the financial year 2018-19, the company said in a regulatory filing.

Mahindra Logistics: Mahindra Logistics, which is on an ambitious growth path with a target of achieving Rs 10,000 crore revenue by FY26 through inorganic and organic routes, is planning to deploy electric vehicles (EVs) for lastmile delivery shortly, a top firm official has said. The plan comes on the heels of online retailer Amazon India´s move to deploy EVs for lastmile delivery.

Coal India: State-owned Coal India on Thursday said its board has given in-principle approval for venturing into aluminium and solar sectors and creation of special purpose vehicles (SPVs). Coal India (CIL), which accounts for over 80 per cent of domestic coal output, has expertise in mining.

Reliance Industries: The Company has entered into definitive agreements to acquire the shares held by IMG Singapore Pte. in IMG-R, for a cash consideration not exceeding Rs 52.08 crore. Post completion of acquisition, IMG-R will become a wholly-owned subsidiary of the company and will be rebranded.

PNB: State-run Punjab National Bank (PNB) has put up for sale three stressed accounts, including Birsa Institute of Technology (Trust), with total outstanding dues of nearly Rs 34.50 crore. “We intend to place three accounts for sale to ARCs/NBFCs/other banks/FIs etc, on the terms and conditions stipulated in the bank’s policy, in line with the regulatory guidelines,” PNB said in an auction notice.

DLF: Realty major DLF’s rental arm DCCDL has agreed to acquire the entire 52 per cent stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore. In a regulatory filing late last night, DLF informed that its joint venture firm DLF Cyber City Developers (DCCDL) has “entered into a securities purchase agreement with funds managed by Hines for acquisition of their stake in Fairleaf Real Estate, which owns and operates ‘One Horizon Center’.”

Bharat Forge: Bharat Forge on Friday said it has made an additional investment of Rs 2.87 crore to use the remaining 8.20 megawatts (MW) solar power from Avaada SataraMH Pvt Ltd (ASPL). The company has agreed to use a total of 40.70 MW solar power from ASPL. As part of this, it earlier invested about Rs 11.37 crore in ASPL to use 32.50 megawatts, Bharat Forge said in a BSE filing.

SJVN: State-owned power producer SJVN Ltd has been awarded three hydroelectric power projects totaling 501 megawatts (MW) by the Himachal Pradesh government. The three projects are to be developed in the Chenab river basin in Himachal Pradesh, SJVN said in a statement.

Dhanlaxmi Bank: The bank is planning to appoint J K Shivan managing director (MD) and chief executive officer (CEO). On September 30, shareholders of the Keralabased bank voted against MD and CEO Sunil Gurbaxani, who had alleged that the directors had put pressure on him to quit after he raised certain governance issues.

Aavas Financiers: Aavas Financiers on Friday said its board of directors has approved raising Rs 100 crore by issuing bonds on a private placement basis.

Biocon: Biotechnology major Biocon on Friday said its arm, Biocon Biologics, and Mylan have been informed by the US health regulator of a deferred action on the biologics license application (BLA) for a biosimilar to drug Avastin, used to treat various types of cancers.

Embassy REIT: Embassy Office Parks REIT said it has completed the acquisition of IT park Embassy TechVillage in Bengaluru for Rs 9,782 crore as part of its growth strategy. Embassy REIT is India’s first publicly-listed REIT sponsored by Blackstone and Embassy group.

Central Bank Of India: The bank has entered into a binding agreement to divest its entire equity stake of 64.40 per cent in Cent Bank Home Finance, to Centrum Housing Finance, subject to approvals from regulatory authorities. Aggregate cost of this divestment is about Rs 160 crore.

UltraTech Cement: The company is considering a proposal to raise funds through the issue of 10,000 rated, listed, non-convertible, redeemable, unsecured NCDs worth Rs 10 lakh each, aggregating to Rs 1,000 crore on a private placement basis, on or after December 30, 2020.

Punjab & Sind Bank: The bank has declared an NPA account, viz. M/s Sintex Industries with outstanding dues of Rs 294.49 crore having provisioning of Rs 147.25 crore as fraud.

Credit: Business Standard

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