Indian shares are expected to open little changed on Friday tracking muted trends in global markets amid thin trades due to the upcoming holiday season. At 7 am, the SGX Nifty was trading 0.02 percent lower, indicating a flat start for the Sensex and Nifty50. Among the stocks in the news today, NMDC diversified into coal with the allotment of two coal blocks in the Hazaribagh district of Jharkhand and Lemon Tree Hotels announced its international debut with the launch of its first hotel in Dubai. Here are top stocks to watch out for today:
Bajaj Finance has acquired upon 24 lakh equity shares of face value of Rs 10 each representing 10 percent of the paid-up share capital of Karvy Data Management Services (KDMS) by invoking pledged for recovery of its dues from Karvy Stock Braking Ltd (KSBL).
NMDC: The government has allocated two coal blocks to NMDC, the Rohne and Tokisud North in Jharkhand for commercial mining. The Rohne coal block has extractable reserves of 191 million tonnes and planned production capacity of 8 million tonnes per annum. The Tokisud North coal block has extractable reserves of about 52 million tonnes of thermal coal and planned production capacity of 2.32 million tonnes per annum. (Image: AP)
Lupin: Company’s alliance partner Concord Biotech received USFDA approval for Mycophenolic Acid Delayed-Release Tablets USP to market the generic equivalent of Myfortic® Delayed-Release Tablets, 180 mg and 360 mg, of Novartis Pharmaceuticals Corporation.
Lemon Tree Hotels Ltd: The company opened first international hotel in Dubai under the Company's brand 'Lemon Tree Hotel’. The hotel, owned by Al Waleed Real Estate LLC, is located on Al Was and features 114 well-appointed rooms. The hotel will be managed by Carnation Hotels Pvt Ltd, a subsidiary and the hotel management arm of Lemon Tree Hotels Ltd, it said.
JM Financial Ltd: The board approved raising up to Rs 850 crore. It also gave nod increase the investments by the Foreign Portfolio Investors (FPIs) from 24 percent to 40 percent of the paid-up equity share capital of the Company.
Tata Chemicals Ltd: The company, through its wholly-owned subsidiary, Valley Holdings, Inc., has acquired the remaining 25 percent partnership interest from The Andover Group, Inc. in Tata Chemicals (Soda Ash) Partners Holdings for $195 million. With this acquisition, the Company has increased its ownership in Tata Chemicals (Soda Ash) Partners, the soda ash producing operating entity, to 100 percent.
CRISIL Ltd: The board approved acquisition of 100 percent of the equity share capital of Greenwich Associates LLC and its subsidiaries, for a consideration of Rs 285 crore ($40 million). The acquisition is expected to be completed by March 2020 and will be done through CRISIL’s subsidiary, CRISIL Irevna US LLC.
Dishman Carbogen Amcis Ltd: The Income-Tax Department officials have visited the company's head offices and manufacturing sites in connection with search under Section 142 of the Income-Tax Act on Thursday. The company clarified that this has no impact on our routine operations.
Calriant Chemicals (India) Ltd: Global holding company Clariant AG has agreed to sell its entire Masterbatches business to PolyOne. The transaction values the Masterbatches business at $1,560 million, the company said.