Market Watch - Bharti Airtel, AstraZeneca, Axis Bank, Greenply, Dr. Reddys

Market Watch - Bharti Airtel, AstraZeneca, Axis Bank, Greenply, Dr. Reddys

U.S. equity futures declined with Asian shares and gold prices climbed following the increase of COVID (coronavirus) cases outside of Mainland China. Anxieties grew that global economic growth could take a more continued blow. S&P 500 Index futures tumbled down nearly 1.3 percent, including shares in Seoul and Sydney too falling lower. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.68.

Here Are The Stocks To Watch Out

Updated 24th Feb, 2020

  • Axis Bank, Max Financial Services and its subsidiary Max Life Insurance sign confidentiality and exclusivity agreement to examine the feasibility of Axis Bank to subscribe to a long-term diplomatic alliance with Max Life.
  • Bharti Airtel: Chairman Sunil Mittal stated that the business is bound to complying with Supreme Court’s verdict on telecom dues and the firm will give the dues before March 17 deadline.
  • Dr. Reddy’s receives EIR from the U.S. FDA for Duvvada formulations plant at Vizag, intimating the conclusion of the audit. The plant has been classified at Voluntary Action Indicated.
  • AstraZeneca Pharma has started QTERN tablets in India as medication for diabetes.
  • Greenply Industries: CARE Ratings has put the ratings attached to the company on credit watch including adverse associations for bank facilities warranting Rs 378 crore. The rating transaction follows the endorsement by the board of directors to continue the corporate guarantee to a foreign loan not surpassing Euro 12.5 million given that the erstwhile MDF section of the business has been changed by way of demerger to Greenpanel industries.
  • IIFL Finance: Board of the company’s physical branch Infoline Finance concluded a distribution of $400 million older secured notes.
  • Dhanlaxmi Bank: RBI authorized the selection of Sunil Gurbaxani as MD & CEO of the Bank for three years.
  • Dixon Technologies promoter Sunil Vachani slashed his stake from 36.27 percent to 34.67 percent in the company on Feb. 20.
  • ACC: Neeraj Akhoury quit as MD and CEO with effect from February 20. The firm said he will continue to be on the Board as a non-executive independent director.
  • Reliance Home Finance (Watchout) defaulted in payment of term loan worth Rs 36 crore which was due on Jan. 18. The business has a total monetary indebtedness of Rs 11955 crore, out of which Rs 3,890 crore is outstanding borrowings from Banks/Financial Institutions, as on Jan. 31.
  • Aurobindo Pharma: U.S. FDA withdraws voluntary action Initiated Status for Unit IV. It says Unit IV is still open and under review, U.S. FDA only had issued a ‘Voluntary Action Initiated’ status on Feb. 18.
  • GMR Infra: Aeroports de Paris yields to buy a 49 percent stake in India’s GMR Airports for Rs 10,780 crore. The investment to proceed in two steps beginning 24.99 percent in the following days. The next step for 24.01 percent to want approvals from regulators comprises RBI paperwork. The second step is set to be concluded in the subsequent months.
  • Bharti Infratel gets FDI Approval of DOT for the consolidation of Indus Towers on 21st Feb. 2020. The Board of Directors of the Company will convene on Monday i.e. Feb. 24, 2020, to take stock and determine the ultimate course of action.
  • Dilip Buildcon completed an EPC arrangement with Airport Authority of India for the project “Construction of new greenfield airport at Hirasar, Rajkot, Gujarat”
  • Strides Pharma: The system for Amalgamation amongst Arrow Remedies Pvt Ltd, Fagris Medica Pvt Ltd, Strides rising markets ltd with Strides Pharma was supported by equity shareholders.
  • Mahindra renewables private limited, a step-down subsidiary of Mahindra and Mahindra to sell the whole stake in three of its wholly-owned subsidiary to CLP India Private Ltd.
  • CARE updated the rating for Prince Pipe’s extended-term bank facilities to CARE A- from CARE BBB+ and short term bank facilities from CARE A3+ to CARE A2+.

FTSE March 2020 Semi-Annual Review

Global Equity Index Series

  • Large Cap Exclusion: Aurobindo Pharma
  • Mid Cap Inclusion: Aurobindo Pharma, Ashok Leyland, Oracle Financial Services Software, Bata India, Jubilant FoodWorks, Nippon Life India Asset Management, Vodafone Idea, Indiabulls Housing Finance, Yes Bank
  • Mid Cap Exclusion: Adani Transmission, Wockhardt

FTSE All-World

  • Inclusion: Bata India, Jubilant FoodWorks, Nippon Life India Asset Management
  • Exclusion: Adani Transmission, Wockhardt

FTSE ALL-CAP

  • Inclusion: ICICI Securities, Tube Investments of India, J K Cement
  • Exclusion: Adani Transmission, GE T&D, PC Jeweller, Reliance Infra, Jain Irrigation Systems, Reliance Capital, DHFL, HDIL

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