Stocks To Watch


🔹Reliance Industries: News reports that the company is considering selling its stake in Asian Paints valued at about $989 million as the conglomerate steps up efforts to trim its debt, said people familiar with the matter. The company is in discussions with banks for the same.

🔹Tata Motors: The company has withdrawn its NCD issue of Rs 1,000 crore in view of the higher cost expectations from the market participants due to the tight money market conditions. The company says it has sufficient liquidity and would consider issuance of NCDs at an appropriate time and under normalized market conditions with necessary approvals.

🔹Zydus Cadila: Gets final approval from the U.S. FDA for Deferasirox Tablets for oral suspension. It is used to treat iron overload caused by blood transfusions.

🔹Eicher Motors: VE Commercial Vehicles segment has received the required government permissions to restart manufacturing operations in six of its plants located in Pithampur, Dewas, Thane and Baggad.

🔹GMR Infra: Clarifies that none of its group companies have approached banks for restructuring of loans and State Bank of India is not the largest lender to the group.

🔹NLC India: 8 workmen are injured an explosion in the company’s thermal plant at Neyveli. Post the incident, the company has also shut two other power generating units for safety measures.

🔹Nath Bio-Genes: Has launched a new cotton hybrid (Cotton BG-II) for the Indian market. The product will be launched this kharif season.

🔹Zydus Wellness: Board approves reappointment of Tarun Arora as CEO for a period of five years.

🔹PNB Gilts: Seeks shareholder nod increase borrowing powers of the company from to Rs 20,000 crore from Rs 12,000 crore.

🔹CG Consumer Electricals: Board approved issuing NCDs worth Rs 300 crore on a private placement basis.

🔹Wockhardt: To consider raising capital on May 11.

🔹Cyient: Board approves increasing investment limit of Foreign Portfolio Investors to 74 percent from 49 percent.

🔹Future Enterprises: Acuite Ratings & Research has placed the company’s short-term and long-term debt on credit watch with negative implications on account of significant increase in liquidity pressure faced by the company due to the Covid-19 crisis and material disruptions in its operations due to the lockdown.

🔹Endurance Tech: To consider raising capital on May 12.

🔹Welspun Corp: Resumes production at pipe facilities in Karnataka.

🔹Uflex: Promoters released pledge of 15 lakh shares between May 5-7.

🔹Neuland Labs: Gets Establishment Inspection Report (EIR) from the U.S. FDA for its manufacturing facility in Hyderabad. The facility was inspected between February 3-7. The inspection now stands closed.

🔹Mindtree: Promoters sold 66,000 shares on May 6.

🔹Other Companies That Resumed Operations: Hawkins Cookers, Kokuyo Camlin, Jindal Stainless (Hisar), S Chand, Indo Amines, Bosch, Astral Poly, Endurance Technologies.

🔹Non-Nifty Earnings Today: Adani Gas, P&G Hygiene, SBI Cards, TCI Express, Swaraj Engines.