India Daybook – Stocks in News
*Zydus Lifesciences:* Company gets final approval from the US FDA to market Estradiol Transdermal System (Positive)
*NTPC:* Company and Chempolis India have signed a MoU to explore the feasibility of setting up a bamboo-based bio-refinery in Assam's Bongaigaon. (Positive)
*Jindal Stainless:* re-appoints Abhyuday Jindal as MD for 5 years, approves special interim dividend (Positive)
*Prestige Estates:* Company’s arm acquires 51% in Dashanya Tech for Rs 66 Cr (Positive)
*Tata Steel:* Company in talks to raise up to $400 million in offshore green loan (Positive)
*Tata Motors:* Company will launch the new Tata Altroz CNG (Positive)
*Piramal Pharma:* USFDA issued Emergency Inspection Report (EIR) for the manufacturing facility located at Sellersville, USA (Positive)
*Pidilite:* Entered into an agreement with USA's Basic Adhesives to purchase certain assets (Positive)
*Avalon Technologies:* Goldman Sachs bought shares worth Rs 32.63 crore in Avalon Technologies (Positive)
*Lyka Labs:* Company considered the issue of 2.4 mn shares upon conversion of warrants to IPCA Laboratories (Positive)
*Bank of India:* Board approves raising up to Rs 6,500 crore in FY24 (Neutral)
*SBI:* Board gives nod to raise $2 billion via long-term debt (Neutral)
*ICICI GI:* Net profit at Rs 437 cr Vs poll of Rs 377 cr, Net Earned Premium at Rs 3,726 cr Vs poll of Rs 4,011 cr (Neutral)
*Tata Coffee:* Net profit up 19.7 % at Rs 48.8 cr Vs Rs 41 cr, Revenue up 10.2% at Rs 723 cr Vs Rs 656.3 cr (YoY) (Neutral)
*Mahindra and Mahindra:* Company says that 20-30% of the company's passenger vehicles will be electric by 2027 (Neutral)
*Federal Bank:* ICICI Prudential MF stake in Bank to 2.05% from 2.99% stake. (Neutral)
*Oil upstream stocks:* Windfall Tax on Crude has been increased to ₹6,400/tonne from NIL
By: via Telegram.me/AlliesFin #StockMarket #india
