Tata Teleservices jumps ~11% after Mumbai NCLT sanctions Bharti Airtel deal
Tata Teleservices announced in a BSE filing on Wednesday afternoon that the NCLT has sanctioned the scheme of arrangement between Tata Teleservices Pvt Limited and Bharti Airtel Limited and their respective shareholders and creditors under section 230 to 232 and other applicable provisions of the Companies Act, 2013. Reacting to this announcement, shares of Tata Teleservices shot up 12% in intraday trade on Wednesday. Shares of Bharti Airtel also jumped ~1.5% in Wednesday afternoon trade.
Housing finance Cos gain as RBI decides to ease the liquidity crunch
Shares of housing finance companies were trading in the green as the Reserve Bank of India (RBI) decided to ease the liquidity crunch in the sector by injecting Rs50,000cr under Open Market Operations (OMOs) in January through five auctions. Accordingly, shares of Indiabulls Housing Finance, which surged 7%, was leading the gains on the index followed by Dewan Housing Finance Corporation (DHFL), up 5%. Shares of LIC Housing Finance, Can Fin Homes, and PNB Housing Finance also gained 3% each.
Zee Entertainment extends losses on brokerage downgradeZee Entertainment shares extended their loss by ~1% in early morning trade on Wednesday after plunging 10% on Tuesday. Shares of the entertainment company have nosedived in the last two days after an international brokerage firm downgraded the stock. BofAML had downgraded the stock to underperform with a price target of Rs375, as per media reports. The downgrade implies a 25% potential downside from its current price. The financial brokerage firm said the stock valuation is expensive, considering its slow growth in the current period.
Strides to receive $42mn immediately from General Claims Escrow
Strides Pharma Science announced that the company and its wholly owned subsidiary Strides Pharma Asia completed the sale of Agila Specialties and Agila Specialties Global, respectively, to Mylan Laboratories and Mylan Institutional Inc. pursuant to Sale and Purchase Agreements effective as of February 27, 2013 (gSPAsh) on December 4, 2013. Mylan made claims against the General Claims Escrow which included a third party claim that was subject to resolution under international arbitration. The claims in that arbitration were rejected in their entirety. Strides will receive ~$42mn towards the full and final release of the General Claims Escrow immediately.
Biocon stock advances after biosimilar Trastuzumab gets approval in the EU
Shares of Biocon are marginally up on the NSE in today's early morning session. Ogivri, a biosimilar Trastuzumab jointly developed by Biocon and Mylan, has been approved in the EU. The European Commission has granted Marketing Authorization for Ogivri to Mylan. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) had earlier issued a positive opinion recommending the approval of Ogivri as a biosimilar to Roche's Herceptin (Trastuzumab) on October 18, 2018, the company said in a BSE filing.
Financial Advisory Company in Indore, Stock Advisory Company in Indore , Equity Tips , Free Trading Tips , MCX Tips , sebi registered advisory company , Intraday stock tips , Free commodity tips
0 comments:
Post a Comment