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Last Updated : Aug 28, 2015 09:57 AM IST | Source: CNBC-TV18

Stocks in news: Infosys, Dr Reddy's, Tube Invest, Rel Infra

Infosys | Dr Reddy's Labs | Cipla | Bharti Airtel | TTK Prestige | DLF | MMTC | Tube Investments | Sequent Scientific | Gammon Infra and Reliance Infrastructure are stocks, which are in the news today.

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Here are stocks that are in news today:

ADAG’s Reliance Defence inks chopper deal with Russia
-To make 200 choppers worth Rs 6,000 crore locally
-Reliance Defence is a subsidiary of Reliance Infra: ET
Sequent Scientific
-To acquire animal health business of Lyka Exports
-Sequent Scientific says expect transaction with Lyka Exports to be closed in 6 weeks

Gammon Infra
-Signs share purchase agreement to divest 9 of its project companies
-To sell stake in 9 project companies to Brookfield & Core Infra India Fund
-To receive Rs 563 crore on account of divestment
-Additional cash inflow of Rs 100 crore to be realised on crystallisation of certain milestones in future
-Debt will reduce to Rs 2,229 crore from Rs 3,947 crore post divestment of 9 assets
-9 assets include 6 road & 3 power projects


Infosys appoints Krishnamurthy Shankar as EVP & Group Head - HRD: Sources
-All HR heads within Infosys to report to Krishnamurthy
-Krishnamurthy will be responsible for envisioning roadmap for HR
-Krishnamurthy to drive strategy & implement operational priorities
-Move seen as effort to strengthen & streamline HR operations
Alert: Krishnamurthy was earlier South Asia Head- HRD at Philips

Cipla AGM: Cipla Chairman Yusuf Khwaja Hamied says
-Profit marginally fell in FY15 due to statutory price cuts & diverse investments
-Expect FY16 revenue growth to be around 20 percent
-Overseas business may start contributing 65-70 percent to revenue in due course
-Have de-risked business in certain markets
-Have received US FDA nod under PEPFAR (President's Emergency Plan For AIDS Relief) for pediatric HIV drug
-Global access programme well established as strategic business
-Indian government must relook at drug pricing policy
-Only high priced monopoly drugs should be under price control

Cipla AGM: Cipla MD & CEO Subhanu Saxena says
-Not compelled to sign any major deals at this point
-70-80 percent of company’s growth will come from the organic route
-Will look at more partnership in the future
-Inhaler devices’ pipeline will be used for non-respiratory therapies as well
-Have guided for a 25 percent EBITDA growth in mid-term
-Will start seeing margin expansion from next fiscal onwards
Tube Investments
-Acquires the brand licensing rights for Ridley Bikes Belgium
-To Acquire Brand Rights For ‘Ridley’ For India, Sri Lanka, Bangladesh, Nepal, Bhutan & Myanmar for 33 years
Draft aviation policy may allow airlines immediate rights to fly overseas with riders: Sources
-To fly aboard, airline must earn 300 domestic flying credits in 12 months
Alert: PM reviewed draft aviation policy earlier this week
-PM wants to build consensus within aviation industry
-PM wants to take a decision on Air India's fate himself
-Draft aviation policy may suggest open skies policy
-Draft policy may also propose a 2 percent cess on all air tickets

Dr Reddy's Labs announces management changes
-Umang Vohra steps down as Executive VP & Head North America Generics
-Alok Sonig to takeover as Executive VP & Head North America Generics
-MV Ramana Appointed Executive VP & Head Branded Markets (India & Emerging Countries)

-Government approves MMTC's bids for import of 1,000 tonnes of onion at Rs 45 per kg
-Government asks MMTC to float fresh import tender for 10,000 tonnes of onion to control prices: PTI

-Doubles limit for cash withdrawal at point-of-sale for Tier-III to 6 centres
-Doubles cash withdrawal limit at point of-sale from Rs 1,000 to Rs 2,000 per day
-Limit remains unchanged at Rs 1,000 per day at Tier I & Tier II centres
RBI Governor Raghuram Rajan in annual report:
-Economic growth still below levels the country is capable of
-Inflation estimate for January 2016 (as of early August) at upper end of RBI’s target
-Banks' willingness to cut base rate still muted
-RBI’s short-term priority is to bring inflation down in line with glide path
-Working with government, banks to speed up resolution of stressed assets
-Banks must have capital to clean up balancesheets
-Banks must have capital to support new lending
-FM Arun Jaitley to lay out structure of monetary policy committee (MPC) next year
-Have moved from giving banks liquidity at fixed price to auctioning
-Aim is to keep call rate close to policy rate
-Open market operations (OMOs) to be based on need to grow RBI’s permanent assets
-RBI focussed on getting real projects back on track to resolve NPA issue
-Banks sometimes ignore the reality that loans have to be written down
-Regulatory forbearance for stressed loans not a solution
-Promoters take advantage of banks' desire to lessen NPA load
-Sometimes judicial process hampers banks from collecting even dues
-Government must compensate PSU banks for public interest activities
-To bring out compendiums on various regulatory areas by January 2016

RBI Annual Report - Prospects for FY16:
-India’s growth outlook is improving gradually
-Initiatives announced in Union Budget to boost investment in infra
-Progress of monsoon has allayed initial fears of moisture shortfall
-Uncertainty around progress & distribution of monsoon remains a risk
-Real activity indicators backed RBI’s baseline estimate of 7.6 percent output growth
-Expect inflation to rise post august to below 6 percent by January 2016
-Inflation outcomes have tracked RBI’s projections so far
-Inflation developments will warrant close & continuous monitoring
-Disinflationary strategy required to bring inflation down to 5 percent by January 2017
-Government’s resolve on fiscal cons may help achieve FY16 fiscal deficit aim of 3.9 percent
-Need front-loaded divest plans to take advantage of supportive market conditions
-Front-loaded divest plans required to forestall cutbacks in capital spend
-States need to prioritise capital, development spends to maintain fiscal correction
-Contraction in merchandise exports rendered economy vulnerable to shocks
-Current account deficit for the year should be contained below 1.5 percent of GDP
-Outlook for capital flows remains highly uncertain
-Anticipated Fed rate hike this year to generate capital outflows from emerging markets
-Anticipated Fed rate hike may harden financial conditions as bond yields rise
-Reserves of USD 350 billion to provide buffer & smooth out import, debt servicing needs

Other stocks and sectors that are in news today:
-CCI clears Future-Bharti Retail merger deal
-TTK Prestige signs long-term settlement agreement with workers' union at Hosur unit in Tamil Nadu
-Shree Pushkar Chemicals & Fertilisers IPO subscribed 1.19 times
-Madras High Court rejects Chennai Super Kings’ petition to stay its 2-year suspension from IPL

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First Published on Aug 28, 2015 08:23 am
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