The sell-off in global stocks resumed in Asia Friday as optimism about fiscal packages round the world to address the blow from the coronavirus evaporated.
U.S. stocks tumbled as volatility sparked by the spread of the coronavirus woes continued to grip financial markets.
SBI Cards and Payment Services IPO subscribed 26.5 times. Retail investors subscribed 2.5 times. Institutional investors subscribed 57 times.
Antony Waste Handling IPO gets 13 percent demand on the second day of sale, offer to close March 6.
🎯 News & Impact 🎯
🎯 Yes Bank :
The Government of India placed the lender under moratorium and capped withdrawals for a month, while the Reserve Bank of India superseded the board of the private lender citing a steady decline in its financial position.
Negative for the stock.
🎯 State Bank of India :
The board of directors of government-owned lender have given an in-principle approval to explore investment opportunity in Yes Bank Ltd., according to a statement filed with stock exchanges.
🎯 Dr. Reddy :
Company’s Laboratories received three Form 483 observations for active pharmaceutical ingredient manufacturing plants at Telangana by U.S. FDA.
🎯 Lupin :
Company has launched the authorized generic version of Vimovo tablets, used for the treatment of arthritis and ulcers.
🎯 Reliance Industries :
Company acquired 37.7 % stake in Alok Industries for Rs 250 crore.
🎯 Agro Tech Foods :
The board approved an increase in royalty payments from 1.6 % to 2.5 % of net proceeds of sales for all products under ‘Act-II’ brand with its holding company Conagra Foods RDM.
🎯 HCC :
Default in loans stand at Rs 622.27 crore and total financial indebtedness to the bank and financial institutions stand at Rs 3,182.74 crore, as on Feb. 29.
🎯 Cipla :
LIC has increased its stake in the company from 2.5 % to 4.52 %.
🎯 Lemon Tree Hotels :
Company has signed a license agreement for a 62-room hotel at Agra.
🎯 Orient Refractories :
The NCLT has disapproved of a scheme of amalgamation between the company and RHI India and RHI Clasil.
Negative for the stock.
🎯 Pidilite Industries :
Company has incorporated a joint venture company ‘Pidilite C-Techos Walling’ to carry on the business of construction of building works, manufacturing of ACC panels and other ancillary products. The Company will hold a 60 % stake in the venture.
🎯 Ester Industries :
The board has approved an expansion plan of setting up a new BOPET film line in India, with a proposed capacity expansion of 48,000 MTPA and a capital outlay of Rs 500 crore.
🎯 Tata Chemicals :
Company promoter Tata Sons acquired 30 lakh shares from Feb. 28 -March 3.
🎯 Aarti Industries :
Company promoter Chandrakant Gogri sold 1.3 lakh shares on March 4.
🎯 GMR Infra :
Company promoter GMR Enterprises acquired 38.24 lakh shares on March 2.
🎯 Nath Bio-Genes :
Company promoter Akash Farms LLP acquired 20 lakh shares on Feb. 28
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Edited by Sharp.
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