Biocon - Biocon hopes to make a “major impact” in the $3-billion market for Trastuzumab biosimilar in the U.S., Chairman and Managing Director Kiran Mazumdar-Shaw said a day after the drug’s launch and Siddharth Mittal takes over as CEO and Joint MD - Positive for Biocon
Esser Steel – Arecelor Mittal told government that any future or ongoing prove into past dealing of the Ruia family should not impact assets of Essar Steel – Mittal wants to avoid a recurrence of any controversy akin to one involving Bhushan Power and Steel when the ED attached the firm assets after it was acquired by JSW Steel from NCLT – Positive for SBI and other PSU Banks to execute Esser Steel deal properly.
GST Council meeting will be held on 18th December as the GST Council is set to embark on a comprehensive review of the tax structure – Expect further rationalization of GST Tax rate
Max India - IRDA approves deal to sell Max Bupa to Fettle Tone - Max India holds 51% of Max Bupa's total issued and paid-up equity share capital, which it proposed to sell to True North Fund in the February notification. - Positive for Max Financial
Future Consumers names Rajnikanth Sabnavis as CEO - Positive development on Future Consumers
Caplin Point has been granted final approval from the USFDA for its Abbreviated New Drug Application (ANDA) Sodium Nitroprusside injection.
Thomas Cook India to buy rights to company brand in India, Sri Lanka for 1.50mn pound - Positive for Thomas Cook.
Bajaj Finance said that company’s current exposure to Karvy Stock Broking is approximately Rs 312 crore, which is against the pledge of listed shares. Company had filed an appeal before the Securities Appellate Tribunal against the unilateral action taken by NSDL for release of valid pledge created by Karvy Stock Broking pursuant to order of SEBI – Expect volatile on Bajaj Finance.
RBL Bank: Shareholders will meet on Dec. 27 to issue and allot equity shares on preferential basis – Expect volatile ahead of allotment and price of equity .
Eris Lifesciences acquired trademark ‘Zomelis’ from Novartis for Indian pharma market for $13 million – Positive for Eris Life.
Piramal Group: Piramal Pharma Solutions announced collaboration with BerGenBio on the development of FDA fast track designated Leukemia treatment (BN) – Positive for Pirmal Enterprises
Natco Pharma completed the acquisition 12.81 percent stake in OMRV Hospital for Rs 5 crore – Positive for Natco Pharma
Watch on Sical - Coffee Day group likely to sell majority stake in Sical – Coffee Day will repay debt from stake sale … positive development
Lakshmi Vilas Bank - Media news that the Capri Group lead by Rajesh Sharma bought 4.9% stake in Lakshmi Vilas Bank after the RBI turned down merger deal between it and Indiabull Housing Finance
Rating agency Moody’s Says Asian Steelmakers Profitability to Drop 5% in 2020 - Profitability of rated Asian steel producers will decline a further 5% next year after a drop of about 25% in 2019 as demand remains soft, steel prices fall and iron ore prices remain elevated - However, domestic demand is remain strong. We are long term positive on JSW Steel, Hindalco and Jindal Steel.,
Nifty declined nearly half percent to close two week low at below 12k (11994). Nifty dipped 157 points (1.3%) in the last three trading sessions on account of weak global cues as investors are cautious after the US decision to impose tariffs on Argentina and Brazil. Moreover, fresh trade war tensions along with unabated foreign fund outflows weighed heavily on the market sentiments. FIIs were net sellers over Rs4500cr in the last three trading sessions . Metal stocks witnessed biggest losers today.
Bharti Airtel - Watch on Bharti Airtel, company's board meeting will be held today ahead of fund raising plan - Company has declared tariff hike on 6th December from 20% to 40%.- We are positive on the stock.
United Spirits - Diageo-controlled liquor firm proposed a merger with its majority owned and listed subsidiary Pioneer Distilleries - Positive for United Spirits with merger of all units.
By: via @AlliesFin Serve T.ME/ALLiESFiN
