LIC will meet on Sept. 04 to consider acquiring 36 percent stake in IDBI Bank. That’s in addition to an approval it won to subscribe to preferential issue of IDBI Bank’s shares.

Bharti Airtel plans to roll out 9,000 new sites and 4,150 kilometres of optic fiber for financial year 2018-19 in Rajasthan. This announcement is the part of the company’s network expansion plan LEAP.

Tech Mahindra’s certificate of authorisation for pre-paid card issuance gets cancelled by RBI. The cancellation of the company as Payment System Operator is on account of voluntary surrender of authorisation by the company.

State Bank of India said that the appropriate authority has accorded approval to explore and initiate the process of divestment of its 3.9 percent stake in National Stock Exchange of India through secondary sale.

Tata Motors to showcase five new public transport vehicles at the bus and coach exhibition, Busworld India starting from Aug. 29. Under its new turnaround strategy, the company is “aggressively” focusing on introducing new range of products with improved features and modern technological advancements said Rohit Srivastava, product line head.

Lakshmi Vilas Bank received approval from IRDA to offer general insurance products. The bank had executed a corporate agency agreement with HDFC Ergo General Insurance Company to sell non-life insurance products under open architecture.

Vedanta awarded 41 out if the 55 oil and gas blocks which were auctioned by the government-under Open Acreage Licensing Policy, according to notice on Directorate General of Hydrocarbons’ website.
[29/08, 9:07 AM] Dk@Dk: 🇮🇳 *India Daybook*

🔹 *Stocks to watch for*

Lakshmi Vilas Bank gets approval from IRDA to offer general insurance products. (Positive)

SBI has accorded approval for divestment of its 3.9 percent stake in National Stock Exchange (Positive)

Vedanta gets awarded 41 out if the 55 oil and gas blocks which were auctioned by the government-under Open Acreage Licensing Policy (Positive)

Asian Oilfield Services promoter Ritu Garg acquired 60,000 shares from Aug. 23 (Positive)

Bharti Airtel plans to roll out 9000 new sites and 4150 kilometres of optic fiber for financial year 2018-19 in Rajasthan (Positive)

Tata Motors to showcase five new public transport vehicles at the bus and coach exhibition (Positive)

Eicher Trucks & Buses bags order for 350 trucks from Bangladesh (Positive)

Artson Engineering: Gets about INR150m order from Thyssenkrupp Industries India (Positive)

Shree Pushkar Chemicals: To issue INR150m of warrants to founders (Positive)

Sun Pharma: Taro gets USFDA nod for anti-inflammatory drug, Ibuprofen (Positive)

Cipla gets USFDA nod for chemotherapy drug, Docetaxel injection (Positive)

Bharat Financial: Assigns INR5.13b of receivables’ pool via securitization. (Neutral)

LIC will meet on September 4 to consider acquiring 36 percent stake in IDBI Bank. (Neutral)

Tech Mahindra’s certificate of authorization for pre-paid card issuance gets cancelled by RBI (Neutral)

Temasek-owned Fullerton Financial has pulled out of the acquire PNB Housing Finance (Neutral)

Jet Airways-Godrej land deal under IT scanner (Negative)

CLSA on TTK Prestige: Maintained ‘Buy’; raised price target to Rs 7,725 from Rs 7,010. A play on improving rural consumption and government spending. (Positive)

Credit Suisse on M&M: Maintained ‘Outperform’ with a price target of Rs 1,100. Remain constructive on both tractor and pick-up volumes for the next financial year as well. (Positive)

HSBC on NALCO: Initiated ‘Buy’ with a target price of Rs 90. Higher earnings to be driven by volume growth in alumina. (Positive)

HSBC on Indian Hotels: Maintained ‘Buy’ with a price target of Rs 165. Company is focusing on capacity addition and margins expansion. (Positive)

Deutsche Bank on Bharat Forge: Maintained ‘Buy’ with a price target Rs 830. Defence revenue opportunity begins to materialise. (Positive)

Jefferies on IEX: FY19 started on a good note with a 15% growth in volume, price target of Rs 2050 (Positive)

Jefferies on Reliance Ind: Stock has been on a tear, adding over $30 bn in market since June end, target Rs 880 (Negative)