9,436.30-53.8
Stock Analysis, IPO, Mutual Funds, Bonds & More

Stocks in the news: Sun Pharma, Vedanta, STFC, Union Bank and Hero MotoCorp

USFDA has classified Halol facility in Gujarat as Official Action Indicated (OAI).

ETMarkets.com|
Last Updated: Mar 30, 2020, 08.11 AM IST
0Comments
Getty Images
stocks up getty
Anil Agarwal has for the first time taken a board position on his flagship Indian firm, Vedanta
Nifty futures on the Singapore Exchange traded 56.75 points or 0.67 per cent lower at 8,423, indicating a negative start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade:

Sun Pharma: USFDA has classified Halol facility in Gujarat as Official Action Indicated (OAI). The US health regulator had inspected the facility from December 3 to December 13, and had issued eight observations, the company had earlier said in a regulatory filing in December.

Vedanta: Metals and mining magnate Anil Agarwal has for the first time taken a board position on his flagship Indian firm, Vedanta Ltd, replacing his brother Navin. Agarwal, 66, who turned a tiny scrap metal business into a mining conglomerate, had so far headed the board of London-headquartered Vedanta Resources.

STFC, Muthoot Finance: Fitch Ratings has downgraded long-term issuer default ratings of three NBFCs on increasing macro-economic challenges following coronavirus pandemic. These non-banking financial companies are Shriram Transport Finance Company (STFC), Muthoot Finance Limited (MFL) and India Infoline Finance (IIFL).

Union Bank: State-owned Union Bank of India, which is amalgamating Andhra Bank and Corporation Bank with it, hopes to reap cost benefits of over Rs 2,500 crore through rationalisation of branches and savings on technology on the combined entity.

Hero MotoCorp: The country’s largest two-wheeler manufacturer Hero MotoCorp said it’s invoking force majeure to suspend full payments to vendors, since it has “no visibility of receivables,” with sales having come to a standstill because of the Covid-19 lockdown.

Coffee Day Enterprises: The company has repaid Rs 1,644 crore to its 13 lenders after concluding a deal with Blackstone Group to sell its technology business park, the company said on Friday.

Fortis Healthcare: The hospital chain said it has set up isolation wards in all of its 28 hospitals across the country with a total of 262 beds to treat COVID-19 patients.

Rashtriya Ispat Nigam: State-run steel maker RINL has shut down one blast furnace (BF) out of the three at its Visakhapatnam plant, as a result of which the daily production has come down to 12,000 tonnes, a source said.

Mahindra & Mahindra: The company will manufacture a face shield designed by Ford for medical service providers to help in combating coronavirus pandemic, according to company Managing Director Pawan Goenka.

SBI: The country's largest lender State Bank of India on Saturday said it has raised USD 100 million green bonds, the first such bond by any state-owned bank in this fiscal.

Coal India: The company may witness a de-growth in production in the current year as its output is expected to be lower than 607 million tonne achieved in the previous fiscal, sources said. The production is likely to be at 602-603 million tonne in 2019-20, they said.

MCX: Largest commodities bourse MCX is offering up to 3 times more salaries to select few employees, who are working from office in the city.

NTPC: State-owned power giant NTPC on Saturday said its installed capacity crossed 62,000 MW with the acquisition government stake in NEEPCO and THDCIL for Rs 11,500 crore.



Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service