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Stocks in the news: HDFC, SBI, Canara Bank, Biocon, Aurobindo Pharma, Sun Pharma, TCS

HDFC | State Bank of India | Canara Bank | Biocon | Aurobindo Pharma | Bharti Airtel | Sun Pharma | TCS | Infosys | Wipro and Indian Overseas Bank are stocks, which are in the news today.

December 22, 2017 / 09:59 AM IST

Here are stocks that are in news today:

RBI releases The Financial Stability Report (FSR) December 2017
-India’s financial system remains stable
-Commodities space is firming up
-Increased geopolitical risks imply likely volatility in commodity prices
-Global and domestic macro-financial risks
-Global economy has picked up steam, the growth momentum appears sustainable
-Emerging markets exports growing at their fastest pace in 6 years on the back of pick-up in global growth
-Information technology-led growth is possibly making the world unequal
-Domestic growth rebounded in 2017-18: Q2 after initial hiccups of GST, demonetisation
-Overall investment climate remains challenging though the situation has shown improvement since 2017-18:Q1

-Overall risks to the banking sector remained elevated due to asset quality concerns

Finance ministry to focus on agri reforms in upcoming Budget: Sources
-Agri reforms to aim at capital formation, generation of employment
-Finance ministry to unveil measures to increase productivity, growth & curb inflation
-Finance ministry mulls zero duty on agri inputs & some equipments under GST
-Finance Ministry not considering farm loan waiver
-Finance ministry may give 3-4 percent interest subsidy on long-term loans to farmers
-Finance ministry likely to relax interest subsidy conditions for short-term farm loan
-Government may increase limit of short-term farm loan from current Rs 3 lakh to Rs 5 lakh
-Budget to push for effective implement implementation of crop insurance, irrigation projects
Alert: Agriculture provides employment to 48.9 percent of the total work force
Alert: Agriculture contributes less than 20 percent to GDP

Alert: Government currently gives int subsidy on short-term loans with certain conditions

Indian Overseas Bank
-In 2016-17 accounts, gave adequate clarification to reduce divergence in gross non-performing assets, provisioning
-RBI observed justification by company is on grounds of development post finalisation of assessment

-RBI observed justification is therefore not acceptable

Ruchi Soya says
-Confirm that Corporate Insolvency Resolution Process (CIRP) has been initiated against company
-Powers of board of directors stand suspended

-Power shall be vested with Shailendra Ajmera, appointed as the IRP

-Approved sale of 100 percent equity capital of HDFC Developers & HDFC Realty to Quikr India
-Deal to sell capital of HDFC Developers & HDFC Realty for Rs 102 crore and Rs 255 crore, respectively
-Company will also acquire an equity stake in Quikr

-Deal includes co-branded alliance between company & Quikr

Accenture (TCS, Infosys etc could be in focus)
-Sees Q2 2018 revenue up 4.5 percent
-Sees Q2 2018 revenue at USD 9.15-9.40 billion

-Q1 revenue at USD 10.05 billion

Sun Pharma
-Recalls two batches of Diabetic drug from US market
-Started recalling 2 batches of Riomet (Metformin Hydrochloride) oral solution voluntarily from US
-Drug recall due to microbial contamination

-Recall was initiated by the firm under 'Class-II' classification

Dalmia Bharat
-Committee of creditors approves resolution plan for revival of Murli Industries submitted by subsidiary of Dalmia Bharat
-Plan provides for a payment of Rs 402 crore which is 1.7x higher than liquidation value

-Murli Industries has cement plant with a capacity of 3 million tonnes

Aarti Industries
-To buyback 8,20,383 shares

-Promoters to participate in the buyback

Other stocks and sectors that are in news today:
-Dilip Buildcon bags orders worth Rs 517.8 crore from Ircon International
-TCS renews USD 2.25 billion deal with Nielsen till 2025: Report
-SBI board meeting on December 27 to seek approval to raise AT1 capital from domestic/international markets
-Aurobindo Pharma gets US FDA nod for Amlodipine Besylate & Valsartan tablets
-UIDAI allows Bharti Airtel to resume Aadhaar based e-KYC services
-Seasite Finance filed application with NCLT Hyderabad to initiate corporate insolvency resolution process (CIRP) versus Khaitan Electricals
-Canara Bank proposes to offload 4 percent stake in Can Fin Homes
-Biocon's biosimilar arm may raise USD 500 million to fund clinical development: HBL
-Adani Power, Tata Power, Suzlon Energy, Inox Wind could be in focus: Wind tariff crashes to Rs 2.43/unit in Gujarat auction
-Promoter Samvardhana Motherson International sells 1.37 percent stake in Motherson Sumi Systems for over Rs 1,079 crore, through an open market transaction
-Azim Premji Trust along with nine other promoter entities -- who were persons acting in concert (PAC) -- offloaded a little over 17.96 crore shares during the Wipro buyback
-Dr Reddy's Laboratories board gives green signal to induct Akhil Ravi, son-in-law of GV Prasad, co-Chairman and CEO of the company into the management
-Bank of India to shut 400 ATMs, 300 more under review
-Navin Fluorine to spend Rs 115 crore for the expansion of capacity at Dewas facility
-Gitanjali Gems denies claims of insolvency-SRS to sell SRS Value Bazaar for Rs 32 crore to Spencer Retail
first published: Dec 22, 2017 08:28 am