Kotak Mahindra Bank approves raising foreign investment limit
Shares of Kotak Mahindra Bank was trading marginally higher on the bourses in afternoon trade on Tuesday. The stock rose after the bank's board approved an increase in the ceiling limit on Foreign Institutional Investors' and Foreign Portfolio Investors' total shareholding from 43% to 45% with immediate effect.
The BSE group 'A' stock of face value Rs5 has touched a 52-week high of Rs1, 424 on July 17, 2018, and a 52-week low of Rs1, 002.30 on October 01, 2018. Last one week high and low of the scrip stood at Rs1, 297.40 and Rs1, 230.40, respectively.
Lupin launches generic Minocycline Hydrochloride ER tablets
Pharma major Lupin announced the launch of Minocycline Hydrochloride extended-release (ER) tablets USP (55mg) on Tuesday after receiving the approval from the USFDA earlier.
Lupin's Minocycline Hydrochloride ER Tablets USP (55mg) is a generic version of Medicis Pharmaceutical Corporation's Solodyn (55mg). It is indicated to treat only inflammatory lesions of non-nodular moderate to severe acne vulgaris in patients 12 years of age and older.
Coal India gains ~3% after brokerage upgrade
Shares of Coal India gained 3% on Tuesday in the afternoon session after foreign brokerage firm Jefferies gave the company a "buy" rating with a price target at Rs309, implying a 44% potential upside from November 25 levels.
The research house said that the resolution of short-term disruptions as well as the recent environment clearance could lift volume growth. The brokerage firm believes that with power plant coal stocks normalizing, the e-auction mix should improve.
JM Financial files application with NCLT against Hotel Leelaventure
Hotel Leela Venture in its filing to the exchanges on Tuesday informed that JM Financial has filed an application with the National Company Law Tribunal, Mumbai Bench, against Hotel Leela Venture Limited under Section 7 of the Insolvency and Bankruptcy Code 2016.
Reacting to this, shares of Hotel Leelaventure slumped 6% on the BSE.
"We further wish to inform you that the Company is continuing to engage with prospective investors for a resolution," Hotel Leela Venture said in a press note to the exchanges.
Thermax to buy partners' stake in JV
Thermax has entered into a definitive agreement with Germany-based Mutares Holding-24 AG and Balcke-Duerr GmbH to acquire their shareholding in its joint venture Thermax SPX Energy Technologies Ltd. It owns 51% in the JV, the company said in the filing.
After the transfer of the shares, TSPX will become a wholly-owned arm of Thermax. The company did not disclose the deal value.
Financial Advisory Company in Indore, Stock Advisory Company in Indore, Equity Tips, FreeTrading Tips , MCX Tips, sebi registered advisory company, Intraday stock tips, Free commodity tips
0 comments:
Post a Comment