Stock Market

Stocks in the news: SBI, Bajaj Auto, Tata Power, GVK, Amtek, Motherson, Bharat Forge

Here are stocks that are in news today:

Bajaj Auto

-Company & Kawasaki to mutually end alliance in India from April 1

-Will maintain co-operative relation with Kawasaki across rest of the world

-Company intends to focus on KTM brand going forward

-Kawasaki Motorcycles to be sold & serviced by India Kawasaki Motors

Godrej Properties

-To develop a residential project in Kandivali East, Mumbai

-Kandivali project will offer approx 93,000 square metre saleable area

Health Canada to CNBC-TV18

-Aware of the import alert issued by US FDA on Divi’s Labs‘ Vizag unit-II

-In communication with US FDA w.r.t import alert on Divi’s Labs

-Gathering information to assess the situation in Canada

-Will take action in case of a risk to health & safety of Canadians

Dr Reddy’s Labs’ Duvvada plant is currently compliant

-Health Canada will not assess the findings of US FDA March 2017 inspection

Australian Drug Regulator

-Therapeutic Goods Administration (TGA) is aware of US FDA findings on Divi’s Labs’ Vizag unit-II

-Working with Australian suppliers to mitigate any risks to drug quality & supply

GVK Power

-Completes sale of its 33 percent stake in Bangalore International Airport to Fairfax

-Sells 33 percent stake in BIAL to Fairfax for Rs 2,202 crore

Tata Power

-NELCO & Af-Taab to sell 22.25 percent stake in Nelito to DTS Corp, Japan

-NELCO to sell 9.95 percent in Nelito for Rs 3.79 crore

Sagar Cements

-To Increase Mattampally power plant size to 18 MW from 15 MW

-Additional cost to increase Mattampally power plant at Rs 23.66 crore

-Board to install 1 MW solar plat at Mattampally power plant for Rs 4.7 crore

NBCC

-Board to consider interim dividend, if any on March 29

-Board to consider future course of action for HSCL takeover on March 29

SBI

-Initiates process to sell 10 percent shares of SBI Life via IPO

-SBI says exploring possibility of diluting 8 percent company stake in SBI Life via IPO

Pfizer says

-US FDA observation news does not relate to company

-News item relates to unlisted unit of Pfizer, USA

Bharat Forge

-Divests 23 percent stake in power equipment JV with Alstom

-To divest remaining 26 percent stake in JV with Alstom on customer nods for projects

-Company has received amount of USD 35 million for sale of stake in JV

Jayshree Chemicals

-To acquire entire shareholding of Fort Gloster Electric at Re 1/share

-To acquire remaining 50,000 shares of East Cost Power at Rs 9/share

Other stocks and sectors that are in news today:

Cimmco circuit filter revised to 10 percent

PTL Enterprises‘ ex-date for demerger today

-NSE listings – AksharChem, Arihant Superstructures, Urja Global

Reliance Capital – CARE downgrades rating from AAA to AA+

Speciality Restaurants – ICRA reaffirms rating of A+ and A1

Amtek Auto, Castex Technologies get shareholder approval for issue of equity on preferential basis to promoters

APL Apollo Tubes board meeting on March 29 to consider issue of non-convertible debentures (NCDs)

HDFC closed India’s largest issue of masala bonds of Rs 3,300 crore

Nandan Denim in focus – Nandan Terry acquired 3 lakh shares

Corporation Bank issued and allotted NCDs worth Rs 500 crore

Minda Industries opened QIP worth Rs 500 crore

IL&FS Engineering allotted 99.62 lakh shares to promoter at Rs 53.2 per share

DEN Networks shareholders/creditors approve broadband demerger scheme

Chambal Fertilisers operations resumed at Rajasthan plant to produce urea

United Bank of India closed QIP at Rs 23.22 per share

-Government of India to infuse capital worth Rs 1,150 crore in UCO Bank

Bank of Maharashtra approved raising of capital up to Rs 300 crore by preferential allotment to GoI

Jagran Prakashan & Music Broadcast commenced broadcast from Patna radio station

Reliance Capital completed transfer of commercial finance division to wholly owned subsidiary

Healthcare Global to expand cancer centre operations in Nashik

Bajaj Holdings GDRs delisted from London stock exchange

-BSNL, MTNL merger talks resume but VRS main hurdle: FE

Sintex in talks with TPG, Blackstone, Carlyle to sell stake in Sintex Plastics: Reports

Motherson Sumi is evaluating another potential USD 600-million bid for Robert Bosch LLC’s (Bosch) global starter motors and generators division: Reports

Motherson Sumi announces completion of acquisition of PKC Group for 571 million euro

JSW Steel‘s Sajjan Jindal says to look to invest in distressed assts: ET

Hindustan Zinc plans to invest Rs 425 crore in solar projects next year: Mint

Tayo Rolls board meet on March 27 to consider allotment of redeemable preference shares

Corporation Bank raises Rs 500 crore via issue of Basel III compliant additional Tier-1 bonds

United Bank closes QIP issue, sets issue price at Rs 23.22/share

Cochin Shipyard files DRHP with SEBI, to sell 3.39 crore shares

Quantum Build-tech board approves one-time settlement plan with Axis Bank