Indian Stock Market Daily News
Friday: 21st August 2020
- Harley Davidson may exit India as part of global restructuring.
- Maruti Suzuki India has joined hands with the start-up hub and incubation centre at The Indian Institutes of 4 Management; Bengaluru, to spearhead innovations in the mobility space.
- Indian Overseas Bank Q1FY21 PAT at Rs 121 crore vs Loss of Rs 342 crore YoY. GNPA at 13.9% vs 14.78% QoQ; NNPA at 5.1% vs 5.44% QoQ
Cement & Construction Material:
- Hindalco has entered into a Memorandum of Understanding (MoU) with UltraTech Cement Ltd., to deliver 1.2 million metric tonnes of red mud annually to UltraTech’s 14 plants located across 7 states.
- Premier Explosives has received an order from Israel Aerospace Industries Limited, Israel (IAI) for development and supply of EDRM Rocket Motors for a total value of USD 520,000. Order is expected to be delivered within 9 months.
- Ruchi Soya: Mr. Ram Bharat designated as Managing Director with effect form 19.08.2020.
- CCI approved the proposed acquisition of C&S Electric by Siemens. As per a statement issued by Siemens in January, it had inked an agreement to acquire 99 per cent equity in New Delhi-based C&S Electric for around Rs 2,100 crore.
- German defence firm keen to set up base in UP with $1 billion investment; partner with BHEL
- GMM Pfaudler to acquire 34.4% of the Pfaudler Group (global) by itself and 19.6% through its subsidiary, Mavag AG. As part of the transaction, Mr. Tarak Patel (MD) and Mr. Ashok Patel (Director) will also acquire. 26% of the shareholding in Pfaudler Group
Gas & Fuel:
- GAIL sees its gas demand returning to pre-COVID-19 levels by the end of the current quarter as the expansion of the city gas network will offset shrinking consumption.
- NSE to replace Zee Entertainment Enterprises and Bharti Infratel in Nifty50 with Divis Laboratories and SBI Life Insurance w.e.f. 25th September.
- Tech Mahindra inks 5G use case partnership with Telefonica Deutschland,
TCS; EPIC Systems Corporation matter, the US Court of Appeals, 7th Circuit; Chicago, returned a verdict on the appeal filed by TCS, reducing the damages award
- HCL Technologies launches a Global Hackathon to Identify long-term technology solutions to the COVID- , 19 pandemic
- TCS has been awarded the 2020 Canada IMPACT Award for Datacenter Migration by Microsoft Corporation
- Wipro and Uniper collaborate to implement a blockchain-based small-scale liquefied natural gas (ssLNG) , trading/fulfilment platform.
Mining & Minerals:
- MOIL Q1 FY21 PAT at Rs 2 crore vs Rs 91 crore YoY. Income at Rs 152 crore vs Rs 280 crore YoY 1
Pharmaceticuals & Drugs:
- Zydus cadila completes fast track zycov covid 19 phase 2 vaccine trials
- Cipla: “Business Transfer Agreement” has been signed between Quality Chemicals Ltd, Uganda, (QCL) and Cipla Quality Chemical Industries Ltd, Uganda, (CQCIL), step-down subsidiary, to sell Human Healthcare business of QCL to COCIL, for USD 1,271,747
- Tata Power after its decision to merge the Mundra subsidiary with itself, the company looks to use preference share and divestment proceeds of 40 billion rupees to reduce the unit’s debt
Steel & Iron Products:
- Jindal Stainless Limited: India Ratings and Research, a Fitch Group Company has affirmed Jindal Stainless Limited Long-Term Issuer Rating at ‘IND 888’ (Outlook. Stable)
- Bharti Airtel to Launch Satellite Internet Via One Web Satellite Constellation by 2022.
- Bharti Airtel is set to take on Reliance Jio Infocomm in its quest to build its own fifth generation virtualised radio access open network in India.
Tyres & Allied:
- JK Tyre: CARE Ratings has withdrawn rating for Commercial Paper as there is no outstanding under the said issue.