Stocks to watch: HDFC, Cipla, Glenmark, IndiGo, SpiceJet, Piramal Enterprises2 min read . Updated: 22 Jun 2020, 08:14 AM IST
- Mortgage lender HDFC Ltd said that its board has approved to raise up to ₹14,000 crore in tranches
- Cipla has launched the generic version of remdesivir, which has been authorised for emergency use in treatment of covid-19 patients by the US FDA
NEW DELHI : Here’s a list of stocks that may be in news on Monday:
HDFC Bank: The private sector lender on Saturday said its board has approved proposal to raise up to ₹50,000 crore in the next twelve months by issuing various debt securities.
HDFC: Mortgage lender HDFC Ltd on Friday said its board has approved to raise up to ₹14,000 crore in tranches through various means. "The committee of directors of the Corporation (HDFC) at its meeting held today (Friday) i.e., June 19, 2020, approved seeking approval of members of the Corporation through postal ballot for raising of funds not exceeding ₹14,000 crore," it said in a regulatory filing.
Piramal Enterprises: Piramal Pharma Solutions, a subsidiary of Piramal Enterprises, has entered into a pact with G&W Laboratories Inc to acquire its solid oral dosage drug product manufacturing facility at Sellersville in US for $17.5 million (over ₹130 crore).
LIC Housing Finance: The mortgage financier reported a 40% decline in its net profit to ₹421.43 crore for the March 2020 quarter. LIC Housing Finance had reported a profit after tax of ₹693.58 crore in the year-ago period.
Oil India: The Pollution Control Board, Assam (PCBA) has served a closure notice to state owned Oil India Ltd (OIL) to shut down all production along with drilling operations at its Baghjan oilfield in Tinsukia district of Assam.
IndiGo, SpiceJet: The steep hike in the prices of aviation turbine fuel (ATF) at major Indian cities, despite a fall in global crude prices, is set to hurt airlines. ATF accounts for about 35%-50% of airlines total costs. The price of ATF, which is a state subject, has been hiked by 16.3% to ₹39,069.87 per kiloliter at New Delhi last week, according to Indian Oil Corporation Limited (IOCL).
Glenmark Pharmaceuticals: The company has launched an antiviral drug Favipiravir (brand name FabiFlu®) for the treatment of mild to moderate covid-19 patients. Favipiravir has shown clinical evidence showing encouraging results in patients with mild to moderate covid-19.
Cipla: Homegrown pharma major Cipla Ltd has launched the generic version of remdesivir, which has been authorised for emergency use in treatment of covid-19 patients by the US FDA, under its brand name Cipremi.
Ashok Leyland: Hinduja flagship firm Ashok Leyland said its board has approved raising of ₹200 crore through issuance of securities on a private placement basis.
Ramco Systems: The company reported a net loss of ₹5.85 crore in Q4FY20 against a profit of ₹8.7 crore in the same quarter of previous Fiscal. The company’s revenue stood at ₹132.87 crore versus ₹141.44 crore in Q4FY19.