Markets will eye the outcome of the RBI’s monetary policy committee meeting, with a statement due on Wednesday(8/12/2021). Economists at Nomura and Barclays expect a hike in the reverse repo rate given economic recovery is well underway

Stocks to Watch:

Eris Lifesciences

Eris Lifesciences: The company has formed a joint venture with MJ Biopharm to enter the insulin segment. The 70:30 JV (with Eris holding a 70% stake) will primarily engage in the marketing and distribution of human and analogue insulins (Glargine, Aspart, Lispro) and GLP-1 agonists (Liraglutide) among other biopharma products in India.

Tech Mahindra

Tech Mahindra: The company has acquired Activus Connect for $62 million. The acquisition will bolster Tech Mahindra’s capabilities in emerging workplace solutions and strengthen the end-to-end CX portfolio.

Jubilant Ingrevia

Jubilant Ingrevia: The company approved the buyback of 1,000, 7.90 percent secured rated listed redeemable non-convertible debentures of Rs 10,00,000 each aggregating to Rs 100 crore.

Lupin

Lupin: The company has entered into a distribution and marketing agreement with Biomm SA in Brazil. Under the agreement, Biomm will distribute and market biosimilar Pegfilgrastim in Brazil.

Lloyds Metals and Energy

Lloyds Metals and Energy: The mining lease granted to the company for iron ore mines over an area of 348.09 Ha. in Surjagad (Wooria Hill) in Gadchiroli district has been extended for a further period of 30 years and is now valid up till May 2, 2057.

DCB Bank

DCB Bank: The bank revised its Base Rate to 10.50 percent per annum from the earlier Base Rate of 10.64 percent per annum. The revised rates will be applicable with effect from December 6, 2021.

Aarti Industries

HDFC Asset Management Company sold 1,74,221 equity shares in the company via open market transactions on November 30, reducing shareholding to 3.04 percent from 3.09 percent earlier.

Carborundum Universal

Carborundum Universal: CUMI International, Cyprus, a wholly-owned subsidiary of the company, has entered into an agreement to acquire an existing company in Germany which will become a step-down subsidiary of CUMI. This acquisition will facilitate a base in European Union facilitating CUMI Group accessing markets in the EU for its portfolio viz., abrasives, ceramics and electro minerals.

ABB India

ABB India: The company completed the sale of the Dodge Business to Dodge Industrial India, an affiliate of RBC Bearings Incorporated (Dodge India).

Ugar Sugar Works

Ugar Sugar Works: Labour Union at Ugar Khurd unit has withdrawn their strike

Tatva Chintan Pharma Chem

Tatva Chintan Pharma Chem: Appointed Ashok Bothra as Chief Financial Officer and Key Managerial Personnel of the company.

NMDC

NMDC: Declared interim dividend of Rs 9.01 per share for the financial year 2021- 22. It has fixed December 15 as the record date for the payment of dividends.

Force Motors

Force Motors: The company’s total production in November stood at 1,135 units. It reported domestic sales of 772 units and exported 362 units.

TeamLease Services

TeamLease Services: The company has sold its entire shareholding in subsidiary IIJT Education.

JK Cement

JK Cement: Approved the scheme of amalgamation of Jaykaycem (Central) with the company with effect from appointed date of April 1, 2021.

Dr Lal PathLabs

Dr Lal PathLabs: Approved the reappointment of Arvind Lal as executive chairman and whole-time director of the company, for a period of five years commencing from April 1, 2022.

Coal India

Coal India: Aims to move 555 million tonnes of Coal per year via mechanized means; India has 14 rail projects at Rs 22,070 crore cost for Coal Transport.

Dish TV India

Dish TV India: To convene shareholders’ meeting on Dec. 30

Oberoi Realty

Oberoi Realty: To consider part-redemption of NCDs

Karda Constructions

Karda Constructions: Societe Generale acquired 36 lakh equity shares in the company at Rs 16.65 per share on the NSE, the bulk deals data showed.

Kirloskar Oil Engines

Kirloskar Oil Engines: Franklin Templeton Mutual Fund India Taxshield Open bought 10 lakh shares and Franklin Templeton Mutual Fund India Prima Plus acquired 30 lakh shares in the company at Rs 180 per share, however, Nalanda India Equity Fund sold 22,28,570 equity shares and Nalanda India Fund offloaded 29,71,430 equity shares in the company at Rs 180.92 per share on the NSE, the bulk deals data showed.

Redington India

Redington India: Marina IV (Singapore) Pte Limited sold 54.4 lakh equity shares in the company at Rs 150.42 per share on the BSE, the bulk deals data showed.

Prataap Snacks:

Prataap Snacks: SBI Funds Management sold 9,948 equity shares in the company via open market transaction on December 1, reducing shareholding to 3.39 percent from 3.43 percent earlier.

Sona BLW Precision Forgings

Sona BLW Precision Forgings: India Ratings & Research has upgraded the company’s long-term issuer rating to ‘AA’ from ‘AA-‘ and the outlook is stable.

Nagarjuna Fertilizers and Chemicals

Nagarjuna Fertilizers and Chemicals: The company has restarted urea production in Plant – I (at Kakinada, Andhra Pradesh), from December 1.

Punjab Alkalies & Chemicals

Punjab Alkalies & Chemicals: The company approved sub-division of each equity share of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each subject to the approval of shareholders.

Centrum Capital

Centrum Capital: JBCG Advisory Services released a pledge on company’s 40 lakh equity shares (0.96 percent).

Rushil Decor

Rushil Decor: The company’s medium density fibreboard manufacturing unit (MDF plant) at Chikmagalur, Karnataka, has again started the commercial operation partially. Further, it will start the regular commercial operation on or before December 6, 2021.

Tantia Constructions

Tantia Constructions: The company has received a letter of allotment for a bid value amounting to Rs 6.79 crore from the Tripura government, against a contract work for ‘construction of RCC Bridge (Length 140 m.) over river Manu on Sonaimuri-Telia road.