Top stocks in focus today: Bank of India, IL&FS Transport, Lupin, Cipla
Bank of India: The bank cuts MCLR by 5 bps in some tenors effective today
IL&FS: IL&FS Transport JV emerged as the lowest bidder for Chennai metro contract.
DLF: DLF loses case in Punjab and Haryana High Court to Residents Welfare Association (RWA) of Park Place project in Gurgaon.
Vedanta Zinc: A contract to establish and mine the Gamsberg opencast zinc operation has been awarded to Aveng Moolmans by Black Mountain Mining, a Vedanta Zinc International operation.
Adani Enterprises: The company has incorporated a wholly-owned subsidiary namely “Adani Cementation Ltd” (ACL) on December 06, 2016.
Tata Power issues notice ahead of EGM to remove Cyrus Mistry.
JM Financial’s subsidiary has completed acquisition of 24.5% stake in India Home Loan (IHL) on a preferential allotment basis.
Sudan is holding up extension to ONGC Videsh’s licence over an oil field as the government seeks higher royalties, tax and profit petroleum even as it delays paying nearly $ 300 mn in oil dues.
Advent International and KKR & Co have made offers to buy the industrial valves unit of Larsen and Toubro (L&T) in a deal estimated at between $ 400 mn and $ 500 mn (roughly around Rs 30 bn).
Cipla’s plan of developing a pump-delivered inhalable form of insulin has suffered a setback with an expert committee denying it permission to conduct trials on Indian patients. The panel has said the company’s preliminary data on safety and efficacy of the trial drug is insufficient.
Lupin has received tentative approval for its generic version of Diclofenac capsules, used in pain management of osteoarthritis, from US health regulator USFDA.
Inox Wind has bagged 50MW wind power project order from SJVN Ltd in Gujarat.