Stocks

Stocks that will see action on October 7

KS Badri Narayanan Chennai | Updated on October 07, 2021

Buzzing stocks: Banks, Infy, TCS, Ultratech, RIL, Oil majors, GAIL India, Trigent Tech, NIIT, Nazara, RVNL, Balaji Amines, CAMS, Lupin, Coal India

Banks, Infy, RIL, Oil majors: Moody's Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to 'stable' from 'negative'. The nine companies whose rating outlook has been revised upwards are RIL, TCS, Infosys, ONGC, Petronet LNG Ltd, UltraTech Cement, Oil India, Indian Oil Corporation and Hindustan Petroleum Corporation Ltd. The agency also affirmed the rating on privatisation-bound BPCL but maintained the 'negative' outlook.

The nine banks whose outlook has been revised to 'stable' are SBI, Axis Bank, Bank of Baroda, Canara Bank, Axis Bank, HDFC Bank, ICICI Bank, PNB, Union Bank and EXIM Bank. Moody's has also affirmed GAIL ratings with a revised outlook from Baa3 with a negative outlook to stable outlook.

Coal India: The Coal Ministry has directed Coal India (CIL) to get its consultancy arm, Central Mine Planning and Design Institute (CMPDIL), to divest 10 per cent of its paid-up capital and consequently get listed on the exchanges to tap the unlocked value of the subsidiaries, according to media report. The Ministry has requested CIL take up the issue on its board for approval from its directors and “send the said approval to the ministry of coal for getting further clearances.”

Trigent Technologies: The Income Tax authorities have issued a notice of demand on Trigyn Technologies Limited under Section 156 of Income Tax Act, 1961 for the Assessment Years from FY 2013-14 to 2019-2020. The total amount demanded from the Company under the notice is ₹3.11 crore.

Nazara Technologies plans to raise ₹315 crore from marquee institutional investors. The funds will be utilised to invest in company’s growth initiatives and pursue strategic acquisitions in the various business verticals, including gamified learning, freemium, skill-based real money gaming and esports. Nazara will issue 14,29,266 equity shares of the face value of ₹4 each at ₹2,206 a share. As per SEBI ICDR Guidelines, these shares will be locked in for one year from the date of issue.

NIIT: US-based Sutherland, a leading global digital transformation company, and StackRoute, an NIIT Venture, have partnered to launch an immersive training program designed to identify the right talent and develop them as high-quality full-stack IT professionals, handling critical roles at Sutherland.

Balaji Amines Ltd has announced a small incident at its unit III demethylformamide (DMF) plant due to which leakages/breakdown has taken place. While rectifying this, the company is adding some debottlenecking activities to increase capacity, which may take two to three weeks. During this period, the DMF plant will not be operational.

Lupin Limited has received tentative approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) Brexpiprazole Tablets, 0.25 mg, 0.5 mg, 1 mg, 2 mg, 3 mg, and 4 mg, to market a generic equivalent of Rexulti Tablets, 0.25 mg, 0.5 mg, 1 mg, 2 mg, 3 mg, and 4 mg, of Otsuka Pharmaceutical Co., Ltd. This product wlll be manufactured at Lupin's Plthampur facility In India. The tablets had estimated annual sales of $1258 million (IQVIA MAT July 2021).

CAMS: Computer Age Management Services Ltd has received a communication from Pension Fund Regulatory & Development Authority (PFRDA) informing that the Department of Revenue has permitted the company as a Central Record Keeping Agency to use Aadhaar-based eKYC services as Authentication User Agency for National Pension Scheme (NPS). A notification in this regard has been issued in the Gazette of India and this will entail the company to undertake Aadhaar Authentication service of Unique Identification Authority of India under section 11A of the Prevention of Money Laundering Act, 2002.

Rail Vikas Nigam has entered into an memorandum of understanding with Braithwaite & Co. Limited. The consortium will utilise the credentials of each other and execute the same utilising the expertise of each other. Theconsortium will aim be to generate at least ₹1,000 crore business per year under this umbrella.

Published on October 07, 2021

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