14th Sept, Morning Brief

Market to open on a flat note tracking SGX Nifty down by 17 points.

IPO Updates

Capacite Infra projects :
The IPO got 1.32 times subscription on Day 1.

🎯 News & Impact 🎯

🎯 IOC BPCL HPCL :
Oil minister Dharmendra Pradhan said The Government doesn't plan to intervene to check fuel prices. Worried that refining and marketing firms would have to sacrifice margins to cushion consumers.

🎯 India Cement :
NCLAT Has Passed Order Dismissing Appeal Filed By Minority Shareholders Of Trinetra Cement.
NCLAT Upholds NCLT Sanctioning The Scheme Of Amalgamation.
Positive for the stock.

🎯 IndiGo :
Board Finalised That The Issue Will Open & Close On The Same Day, Sept 15.

🎯 Jubilant Foodworks :
After reporting bugs in seasoning sachets, Company says, All Of Our Food Ingredients Are Safe For Consumption.
Co Maintains Strict Hygiene & Quality Standards For Its Products.
All Vendors & Manufacturing Units Are FSMS Certified.

🎯 RCom :
Ericsson Filed Petition Under IBC Provisions For Recovery Of Rs.491.4 Cr
NCLT Has Adjourned The Matter To Sep 26.
Company Intends To Challenge Petitions Filed By Ericsson India.

🎯 JP Associates :
The Supreme Court on Wednesday asked realty firm Jaiprakash associates to pay Rs.50 lakh as an interim relief to 10 homebuyers of its Kalypso Court project along the Noida-Greater Noida Expressway.

🎯 Tata Chemicals :
In Talks W/Indorama Hldgs For Potential Sale Of Phosphatic Fert Biz In Haldia.

🎯 HFCL :
Himachal Futuristic Communications Ltd. is no longer under the Corporate Debt Restructuring (CDR) mechanism.

🎯 Thermax :
Thermax Group bags export contract of USD 43 million.
Thermax wins first EPC power plant order in GCC region for Rs.275 cr.
Positive for the stock.

🎯 Coal India :
Coal India is planning to diversify into new mining areas although it believes the fossil fuel to remain as the primary source of power generation for at least the next two decades.

🎯 WPIL closes operations of UK Subsidiary

🎯 DCM :
CRISIL downgrades long term bank facilities to BB from BBB-
Negative for the stock.

🎯 BPCL :
BPCL to invest Rs1.08tn in 5 years to expand business operations.

🎯 Hindalco :
Hindalco looks to export alumina from Odisha unit.
Hindalco may prepay upto Rs1100cr debt this month.
Positive for the stock.

🎯 Lupin :
Lupin arm recalls 12,888 bottles of ulcer drug in US.
Lupin announced that it has received final approval for its Metronidazole Tablets USP, 250 mg and 500 mg from the USFDA to market a generic version of G D Searle LLC's Flagyl Tablets, 250 mg and 500 mg.

🎯 Bharti airtel :
Bharti Airtel partners Koreas SK Telecom for 5G and network augmentation.

🎯 Religare Enterprises :
Instituional shareholders move court seeking ouster of board.

🎯 JP Power :
11 buyers for JP Power.
Adani, Tata, JSW Energy show interest.

Edited by Sharp.
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