Blog – Investelite Research | Stocks In Focus

Bhagyanagar India: CARE assigned BBB+/Stable rating for long-term bank facilities.

Cummins India: Company appointed Anjuly Chib Duggal as Non-Executive Independent Director.

Syndicate Bank: The bank allotted 18,36,99.217 equity shares for cash at an issue price of Rs 239.63 per share to Government of India. With this allotment, the shareholding of government increased from 73.07 percent to 76.16 percent.

Om Metals bags Rs 615.16 crore EPC contract from water resources department, Government of Rajasthan

Religare Enterprises‘ (REL) subsidiary Religare Finvest has filed a criminal complaint with the Economic Offences Wing of the Delhi Police against the promoters of REL Malvinder Mohan Singh and Shivinder Mohan Singh as well as REL’s former CMD, Sunil Godhwani, N.K. Ghoshal

Reliance Communications – NCLAT hearing on Ericsson and Reliance Infratel (RITL) minoirty investors petition related matter adjourned to January 22, 2019

Vesuvius India: Subrata Roy will step down as Managing Director of the company as he will pursue new responsibilities within the Vesuvius Group. Ritesh Dungarwal is appointed as Managing Director.

Techno Electric & Engineering Company: Shareholding SBI Mutual Fund on December 4 stood at 8.05 percent after amalgamation.

Wockhardt – Capital raising committee meeting will be held on December 22, 2018, to consider and approve fundraising

Gujarat Gas: January 16 has been fixed as the record date for determining the eligibility of shareholders, with regard to sub-division of company’s equity shares.

Orient Electric launching a new range of lifestyle portable fans

Jubilant Industries: Finance Committee of the company approved the allotment of 18 lakh equity shares at issue price of Rs 135.95 per share and 13 lakh convertible warrants, at issue price of Rs 135.95 each to the members of the promoter group of the company by way of preferential allotment on a private placement basis.

Uflex presents ‘The Next Big Thing in pharma packaging

Quess Corp/Thomas Cook – Approved the amendments in the Composite Scheme of Arrangement and Amalgamation between Thomas Cook (TCIL), Quess Corp, subsidiaries of TCIL and their respective shareholders

Endurance Technologies: After the favourable court order, the company will announce a suitable compensation package for all its eligible permanent workmen employed on the rolls of the plant in Manesar, Haryana and discontinued operations of the said plant with immediate effect.

Manappuram Finance: The Financial Resources and Management Committee of the Company approved the allotment of 42,309 unlisted unrated secured redeemable non-convertible debentures having a face value of Rs 1000 each for Rs 4,23,09,000 on private placement basis.

Alembic Pharma – USFDA conducted an inspection at the company’s API Facility located at Panelav from December 17 to 19. Issued zero 483s

ICICI Lombard takes the Artificial Intelligence (AI) route for instant renewal of expired motor insurance policies

Thomas Cook: Board has unanimously approved the amendments in the Composite Scheme of Arrangement and Amalgamation between Thomas Cook (India), Quess Corp Limited, Travel Corporation (India), TC Forex Services Limited (formerly known as Tata Capital Forex Limited), TC Travel Services Limited and SOTC Travel Management Private Limited and their respective shareholders.

BGR Energy Systems: CARE revised rating on long-term bank facilities worth Rs 3,076 crore to BBB/Stable from BBB+/Negative.

Sarup Industries: Board considered the resignation Chakkarvarti Sharma from the post of Chief Financial Officer of the company.

DFM Foods – CARE assigned A Stable rating to long-term bank facilities

Subros – ICRA has upgraded the long-term ratings and reaffirmed the short-term ratings

Bulk Deals on December 19

Punj Lloyd: IFCI continued to offload shares of the company, selling 54,93,201 equity shares at Rs 4.37 per share on the NSE. However, Alpha Leon Enterprises LLP net bought 27,96,325 equity shares at Rs 4.25 per share.

DRS Dilip Roadlines: Aryaman Capital Markets Limited purchased 2,00,000 shares of the company at Rs 75.5 per share while Shah Babulal Vadilal HUF sold 1,12,000 shares at the same price on the NSE.

Analyst or Board Meet/Briefings

Dixon Technologies: Company’s officials will be meeting Doric Capital, DSP MF and Edelweiss Financial on December 20.

Tube Investments of India: Conference Call with Institutional Investor on the unaudited financial results for the second quarter ended September 2018 is scheduled on December 20.

Izmo: The analyst/institutional investors meeting with senior management of the company to be held on December 20 organised by Valorem Advisors, to discuss about the ordinary course of business and industry.

Shriram City Union Finance: Company’s officials will be meeting Batlivala & Karani Securities India on December 20 and Newmark Capital on December 28.

Gujarat Pipavav Port: The company has a meeting with lndsec Securities & Finance on December 20.

Eicher Motors: Company’s officials will be meeting Axis Capital on December 20.

Mahindra Holidays & Resorts India: Company’s officials will be meeting Unifi Capital, Tattva Capital, Sundaram MF, TCG and Franklin Templeton on December 21.

Wockhardt: Board meeting will be held on December 22 to consider fundraising.