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Last Updated : Aug 31, 2015 10:37 AM IST | Source: CNBC-TV18

Stocks in news: M&M, Novartis, Godrej Cons, Bharti, Astec

ITC | Sun Pharma | Wockhardt | GMR Infra | ONGC | Mahindra and Mahindra | Oil India | Novartis India | IDBI Bank | Godrej Consumer | UltraTech Cement | Bharti Airtel | Idea Cellular and Astec Life are stocks, which are in the news today.

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Todays L/H

Here are stocks that are in news today:

Sadbhav Infrastructure Project IPO opens today
-Closes on September 2
-Price band at Rs 100-103 per share
-Allots 2.04 crore equity shares at Rs 103 aggregating Rs 210 crore to 7 anchor investors
-Anchors include HDFC MF, Tata MF, Nomura, Morgan Stanley, Amansa, Tata AIA Life & SBI MF

Reliance Aerostructures to get 289 acre land for Dhirubhai Ambani Aerospace park in Nagpur: Sources
-Reliance Aerostructures to set up chopper manufacturing facility in Nagpur
-Russia selects Reliance Defence (subsidiary of Reliance Infrastructure) to build 200 Kamov helicopters in India
-Initial programme for Reliance Defence's Nagpur manufacturing unit valued over Rs 6,000 crore
-Reliance Defence to form a new JV for the Russian chopper project


RBI releases quarterly statistics on deposits & credit of scheduled commercial banks (SCB)
RBI SCB data:
-Deposit growth for June decelerated to 10.6 percent versus 11.9 percent (YoY)
-Bank credit growth decelerated to 8.6 percent versus 12.9 percent (YoY)
-All-India credit-deposit (CD) ratio at 75.8 percent as of June 2015
-Public sector banks (PSBs) accounted for 72.5 percent share in aggregate deposits, private banks at 19.8 percent
-PSBs accounted for 70.4 percent share in gross bank credit, private banks at 20.6 percent

RBI directs financial institutions to comply with amended rules
RBI says
-Inter-government agreement between India, US expected to be effective from August 31
Alert: India, US signed pact on july 9 on foreign account tax compliance

RBI Governor Raghuram Rajan to CNBC:
-Bigger than expected China slowdown would not hit India too much
-We have not said that we are finished with rate cuts
-Stronger US dollar causes some fragilities, but can help in exports
-Have argued that US Fed should not hike rates when world is in turmoil

Sun Pharma says
-No material impact of US court judgement on company's performance, operations
-Class action suit filed against arm Caraco by ex-staff

Government issues statutory order on Land Bill
-Statutory order in lieu of re-promulgation of land ordinance
-Order to ensure compensation for land acquired under 13 acts
-Order safeguards rehabilitation of land owners
Alert: 13 acts include Coal Bearing Areas Acquisition & Development Act, 1957
Alert: 13 acts include National Highways Act, 1956 & Land Acquisition (Mines) Act, 1885
Alert: Land ordinance lapses on August 31
Alert: Government brought in 9 changes to land law via ordinance
-To apply provisions of section 105 of Land Act to 13 central acts
-To extend benefits of compensation, rehabilitation, resettlement to 2013 act

Attorney General on CNBC-TV18:
-Benefit of higher compensation will be extended to all land owners
-Do not want the poor & farmers to suffer

Sun Pharma & Wockhardt recall drugs from US market
-Sun Pharma recalls over 35,000 bottles of Bupropion hydrochloride: PTI

Astec Life
-Board approves share purchase agreement between promoters & Godrej Agrovet
-Godrej Agrovet to buy out promoter share of 45.3 percent at Rs 190/share

Other stocks and sectors that are in news today:
-ITC to extend Savlon portfolio to categories like hand wash, sanitizers, floor cleaners: ET
-Sterlite Technologies creates fund to back startups: ET
-GMR plans to export power to Bangladesh
-ONGC and partners to invest USD 24 billion in producing natural gas in Mozambique
-M&M: Ssangyong sales witness slide owing to halt of exports to Russia following plunge in Ruble
-Government unlikely to go on with its 10 percent stake sale in Oil India anytime soon
-Infosys invests Rs 1,918 crore in 3 new campuses
-SpiceJet to lease 5 aircraft, to be inducted in fleet during upcoming winter schedule: FE
-Novartis India: FIPB approved transfer of OTC division to GSK Consumer
-IDBI Bank board approves proposal of foreign currency borrowing limit up to USD 7.5 billion
-RBI says FIIs/RFPIs can now invest up to  40 percent in Godrej Consumer
-UltraTech Cement commissions a bulk terminal with a capacity of 2MTPA in Pune, Maharashtra
-Airtel & Idea Cellular hike post-paid data tariffs by 20 percent in Delhi
-Al Rajwani appointed as MD of Gillette India for a period of five years

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First Published on Aug 31, 2015 08:17 am
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