Top stocks in focus today: Tata Motors, NMDC, Coal India, Aarti Drugs
NMDC announced that the government is selling up to 4,74,58,357 shares to non-retail investors on Wednesday and retail investors (and for non-retail investors who choose to carry forward their un-allotted bids) on Thursday with an option to additionally sell up to 4,74,58,357 shares. The floor price of the offer shall be Rs153.50 per share.
SJVN board of state-run power producer approved a buyback proposal comprising 5% stake.
Tata Motors stock in focus today as Jaguar Land Rover sales rose 7% to a record 621,109 vehicles in 2017 but warned it faces tough conditions in its home market due to weakening consumer confidence and a planned diesel tax hike on new cars.
Sutlej Textiles board approves setting up of a Green Fibre project to manufacture polyester staple fibre by recycling of pet bottles in Jammu Kashmir.
Coal India revises non-coking coal prices; will earn additional revenue of Rs1,956cr for balance FY18.
The Board of Aarti Drugs has approved buyback of up to 2.75 lakh fully paid equity shares of face value of Rs10 each at a price of Rs875 per share for an aggregate amount of up to Rs24.06cr.
GVK Power & Infrastructure announced that SPV Navi Mumbai International Airport, which is a step down subsidiary of the company, has signed the concession agreement, shareholder’s agreement and state support agreement with CIDCO for implementation of the Navi Mumbai International Airport project.
Siemens bags contract worth Rs579cr for Gujarat Metro Link.
Eveready Industries India has entered the confectionary market through the launch of its brand ‘Jollies’.
Orchid Pharma received the Establishment Inspection Report (EIR) from USFDA based on the successful inspection closure for the Post-Marketing Adverse Drug Experience Reporting Inspection (PADE) conducted at Orchid Tower, Nungambakkam, Chennai.
Deep Industries incorporated subsidiary Deep International DMCC in Dubai on Jan 7.