Market News
Dr Reddy's Labs: API manufacturing plant 5 at Miryalaguda, Telangana received Establishment Inspection Report (EIR) from USFDA.
ITI: Defence Research and Development Organisation (DRDO) and ITI likely to ink a deal soon to produce portable ventilators after COVID-19.
SMS Pharmaceuticals: USFDA requested all manufacturers to withdraw Ranitidine products from the US market.
OnMobile Global: Board approved the proposal for buyback of shares upto 1,93,21,429 for the amount of upto Rs 54.10 crore.
VST Tillers: Power tillers sales in March down 58.6% to 1,585 units, tractors sales down 60.6% to 390 units YoY.
CSB Bank: CRISIL assigned A1+ rating to the proposed issue of Rs 2,000 crore each of certificate of deposits and short term fixed deposits programme.
Piramal Enterprises: Arundhati Bhattacharya resigned as Independent Director, will take the role as Chairperson and CEO in another company.
Lakshmi Vilas Bank: D Krishnakumar resigned as Vice President & Chief Risk Officer.
National Fertilizers: ICRA downgraded ratings on long term-CC limits and term loans to AA- from AA and also revised the outlook to stable from negative.
Godrej Consumer Products: Company will report around high teens India revenue decline in the January-March quarter and sees consolidated sales declining around low double-digit in rupee terms for Q4.
IndiGrid: Company looks to acquire Rs 1,080 crore transmission project and intends to add solar energy in the portfolio.
SRF: Few plants belonging to essential goods value chain in Dahej Chemicals Complex, Gujarat resumed operations.
Sakthi Finance: ICRA placed ratings of programmes/debt instruments 'under watch with developing implications'.
Gulf Oil Lubricants: Board declared an interim dividend of Rs 7 per share for FY20.
JK Paper: CRISIL reaffirmed long term rating at AA-/Stable for company's bank facilities.
Shukra Pharmaceuticals: Looking at requirements of pharmaceutical drug and medicine supply, the board decided to resume business and factory operations.
HDFC: MF in March quarter raised stake to 9.52% (from 8.99% QoQ), insurance companies to 8.06% (from 7.29%), but FPIs reduced to 70.88% (from 72.75%).
SBI Cards: MFs raised stake in March quarter to 3.04% (from 1.60% before listing), FPIs to 4.07% (from 3.53%).
JCT: Textile division in Punjab has secured an order for the supply of 10 lakh pcs of personal protective coverall (garments) to be used by the people engaged in the treatment of those affected by COVID-19.
Tyroon Tea: Company started operation at tea garden at Jorhat, Assam.
Axis Bank: MF in March quarter raised stake to 20.51% (from 18.89% QoQ), insurance companies to 2.21% (from 1.93%), but FPIs reduced to 45.49% (from 48.35%).
Future Consumer: Company appointed Sailesh Kedawat as the Chief Financial Officer.
Motherson Sumi Systems: ICRA its rating AA+ 'placed on watch with negative implications' for the company's term loan, fund-based facilities, and non-fund based bank facilities.
Bharat Dynamics: BDL recorded a turnover of Rs 3,095 crore (provisional) for FY21 against Rs 3,069 crore in previous year. Order book of the company as on April 1 stood at Rs 7,413 crore (provisional).
Gujarat Alkalies: Company has started partial operation of Hydrogen Peroxide Plant at Vadodara Complex.รข€‹
Godawari Power & Ispat: Company resumed partial operations by commencing mining operations in Ari Dongri iron ore mines.
Cadila Healthcare: Zydus received tentative approval from the USFDA for Empagliflozin tablets, antidiabetic drug.
KSB: Company launched CHTRa, a heavy-duty API pump handling petroleum, petrochemical and water transfer
Jubilant Life Sciences: CRISIL assigned long term rating at AA and placed on 'Rating Watch with Developing Implications' for total bank loan facilities.
Transgene Biotek: Company received Certificate of Patent from Australia for novel oral delivery platform technology that delivers different biologically active ingredients.
Tech Mahindra: After modification, the company will acquire 51% of Cerium Systems upfront for enterpri
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