The market on Wednesday could see a quiet start, owing to the ongoing holiday season. The bulls remained in control of D-Street on Tuesday despite weak global cues to take the index to a fresh record high of 10,545.45. The index formed a bullish candle for the second consecutive day in a row which closely resembles a ‘Hanging Man’ kind of pattern on daily charts.
Here are 18 stocks that are in the news today:
ITC:
Certain individuals and NGOs have filed Special Leave Petitions against Cigarette warning, along with a prayer for stay of the judgment.
The board of the bank decided to raise additional equity capital amounting to Rs90 crore through QIP route by issuing Rs9 crore equity shares of face value Rs10.
This is to inform the exchange that our Associate Company, Rhizen Pharmaceuticals S.A. (Rhizen) has released a Press Release announcing that the USFDA has granted Orphan-Drug Designation for Tenalisib (RP6530).
Dr. Reddy’s Laboratories Ltd has launched Melphalan Hydrochloride for Injection, a therapeutic equivalent generic version of Alkeran (melphalan hydrochloride) for Injection used in the treatment of certain types of cancer and approved in the US market by the US Food and Drug Administration (USFDA), said a report.
Sun Pharmaceutical Industries said the USFDA has accepted a new drug application (NDA), filed by its wholly owned subsidiary, for OTX-101 (cyclosporine A, ophthalmic solution) 0.09 percent, a novel nanomicellar formulation of cyclosporine A 0.09 percent in a clear, preservative-free aqueous solution. OTX-101 is now under review for approval by the US FDA, marking an important developmental milestone for Sun Pharma’s dry eye candidate.
Maruti Suzuki India Ltd, the seller of every second car in India, has raised its sales target for the second time in two years to 2.5 million units every year by 2025, said a Mint report quoting two people with knowledge of the matter.
Adhesives and industrial chemicals manufacturer Pidilite Industries said its board has approved a share buyback proposal of up to Rs. 500 crore.
State-owned IDBI Bank on Tuesday said it has disengaged Moody’s Investors Services (Moody’s) to rate its bond programmes.
The Board of Directors in its meeting dated 26th December 2017, resolved and approved raising of equity capital through Public Issue (Follow on Public Offer) / Right Issue / Qualified Institutional Placement(s) / Preferential Issue or any other mode or a combination(s).
The private sector lender announces the acquisition of more than 5% stake in One Point One Solutions Limited ('OPOSL').
The company announced the acquisition of 66.66% stake in a Group Company, Prestige Projects Private Limited for Rs324 Crore.
NBCC:
The company announced Offer for sale of Share to eligible employees of NBCC (India) Limited. The overall pool size of shares available to NBCC's employees under Employee Share Sale would be up to 25,16,013 equity shares of face value of Rs. 2/- each ('Equity Shares').
JSPL
Completes 3 MTPA steelmaking oxygen furnace installation at Angul, Odisha
Completes Rs 33,000 crore capex program
Other stocks and sectors that are in news today:
-Prataap Snacks launches 'Rich Feast', the new umbrella brand for the Sweet Snacks catego
-Tata Steel said to seek USD 5.1 billion to refinance debt
-Infosys promoters stake post buyback rise to 12.90 percent from 12.75 percent
-DLF to consider allotment of compulsorily convertible debentures & warrants to certain promoter group entities on December 29
Tata Sons Chairman Natarajan Chandrasekaran writes to employees
-Globally, we find ourselves living in a time of deep transformation
-We are approaching 2018 with greater collective purpose
-The house of Tatas remains a cornerstone of India’s growth story
-I am more convinced than ever before about the future & potential of Tata businesses
-We must focus on simplification, synergy & scale
-To thrive in a world of rapid change, need to reduce complexity across businesses
-We must make our management & organisation structures simpler & impactful
-Need a ‘One Tata’ approach; leverage collaboration between group companies
-We need to scale through growth, consolidation, collaboration
Bankers to CNBC-TV18 on Reliance Communications' debt restructuring plan
-Have to classify Reliance Communications’ exposure as NPA this quarter as it is out of SDR
-Exposure may decrease or come to nil if Reliance Communications sells all assets & pays back
-Believe Reliance Communications has a good resolution plan in place; NPA pain is temporary
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