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Last Updated : Aug 19, 2015 10:30 AM IST | Source: CNBC-TV18

NGT ruling boosts DLF, JP Infra; Cipla eyeing Kremers Urban

DLF and JP Infra are set to benefit from the National Green Tribunal (NGT) ruling to allow development near the Okhla Bird Sanctuary in the national capital. Below are the other stocks to keep an eye out for in Wednesday's trade.


DLF and JP Infra are set to benefit from the National Green Tribunal (NGT) ruling to allow development near the Okhla Bird Sanctuary in the national capital. Below are the other stocks to keep an eye out for in Wednesday's trade. 


DLF – National Green Tribunal has given green signal for DLF’s Noida mall, which will become operational by the end of FY16. The company is expected to earn Rs 200 crore as rental from the mall. The management hopes to give it out for rental this year. The company is also plans to sell its 4 acre land in Kochi for Rs 111 crore under its strategy to divest non-core assets.

Jaypee Infra - National Green Tribunal ruling to allow construction near Okhla Bird Sanctuary will enable the company to give possession of close to 5,000 houses immediately. The sale is expected to start in 3 to 4 months and the company will get Rs 3,000 crore over 3 years.

Cipla – A per reports, the company might be bidding for the Belgian drug maker UCB’s generic business, Kremers Urban. Brokerage firm Nomura says the acquisition would help scale up Cipla’s front end presence in the US. However, analysts are worried over the expected bid size close to USD 1.2 – USD 1.3 billion.

Cummins – Brokerage firm Nomura retained its reduce rating on the company because of expensive valuations. Target price remains at Rs 1,064 per share. Nomura says surge in Cummin’s revenue growth is not sustainable beyond the current year.

Ashok Leyland – The stock saw delivery based buying worth Rs 100 crore in Tuesday’s trade. The stock was trading high because of strong June quarter earnings. Ashok Leyland is in process of setting up its second overseas assembly unit and is planning to set up units in Nigeria, Kenya and Senegal.

Amtek Auto – The company has been removed from the Future & Options (F&O) market. The company will complete its current period of three months before been removed.

Bharat Forge – The stock saw a big correction a few days back and since then has gained momentum. It is nearly 11 percent higher in the last month and is maintaining its upward growth.

Majesco – The insurance business of Mastek, Majesco will be listed in the market today at a price of Rs 400 per share. The company derives its value from its subsidiary called, Majesco US, in the US. The US subsidiary was listed in New York Stock Exchange on June 29 this year.

IDBI – The bank is set to benefit from NGT’s ruling to allow development in areas near Okhla Bird Sanctuary. Jaypee Infra, one of its biggest debtors to the tune of Rs 13,000 crore, will be allowed to sell its already constructed houses.

Intellect Design Arena – The stock has gained nearly 11 percent in the past few days. Delivery quantity, on Tuesday, was 10.4 lakh shares against 10 day average of 6.3 lakh shares.




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First Published on Aug 19, 2015 08:56 am
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