Stocks To Watch

Dr Reddy's: Announces the launch of Fulvestrant Injection 250 mg/5ml per single-dose syringe, a therapeutic equivalent generic version of Faslodex injection, approved by the U.S. FDA. The Faslodex brand and generic market had U.S. sales of approximately $407 million for the 12-months ending June 2020 as per the IQVIA.

Amber Enterprises: Launches QIP issue on Monday. Floor price of Rs 1,798.72 per share is a 2.1% discount to Monday's closing price. As per SEBI regulations, the company may offer a discount of not more than 5% on the floor price. The panel will meet on or after September 10 to decide on the closure of the QIP and the price for sale.

Bharat Dynamics: The government proposes to sell up to 10% stake or 1.83 crore shares through an Offer for Sale. It also has the option to sell an additional 5% stake or 91.6 lakh shares. The floor price of Rs 330 per share is a 14.2% discount to Monday's close. The government looks to raise up to Rs 907.2 crore from the OFS. On full subscription, the government's stake in the company comes down to 72.75% from the previous 87.75%. The OFS opens for non-retail investors today and for retail investors on September 9.

ITI: Signs MoU with Ilantus Technologies to deliver solutions to government agencies, defence, PSUs and the banking sector. The company has also received a Letter of Intent from Bharti Airtel for fibre-to-home rollout in eight circles across the country. The work involves laying of optical fibre backbone for providing broadband connectivity throughout the country. The time period to execute the order would be three months.

EIH: Board approved raising Rs 350 crore via rights issue. Promoters intend to fully subscribe to their rights entitlement and have reserved their right to subscribe to any additional equity shares, amongst themselves, in the event of under-subscription of the said issue.

Parag Milk Foods: The board has approved issuing secured Non-Convertible Debentures (NCDs) up to Rs 230 crore in tranches from time-to-time on a private placement basis.

Dhanuka Agritech: Launched two fungicides for grapes farmers.

Future Lifestyle Fashions: As on date, 95% of the company's stores have re-opened. Sales of Central in August rose 33% compared to July. Brand Factory sales rose 50% compared to July. Plus size fashion retail chain aLL saw sales double in August, as compared to July. Sales were driven by flagship brands like Lee Cooper, Indigo Nation, Scullers and Jealous 21.

Genus Paper & Boards: Resolution professional for NS Papers has issued a Letter of Intent to the company with regard to the resolution plan submitted for NS Papers. The Letter of Intent has been accepted by the company.

Indian Overseas Bank: Reduced MCLR rates by 10 basis points across various tenors from September 10. One-month MCLR now at 7.4% while one-year MCLR at 7.55%.

HCC: Curreunt default as on August 31 stands at Rs 1,481.4 crore. Total financial indebtedness at Rs 10,339.9 crore.

VIP Industries: Board approved allotment of NCDs worth Rs 50 crore.

Future Consumer: Has defaulted in payment of principal and interest on NCDs amounting to Rs 22.03 crore due on September 5. The Company has approached the debenture trustees seeking deferment of the said obligations such that 50% of the amount due shall be paid on or before September 30 and the balance 50% to be paid by December 31. The debenture trustees having approached few of the debenture holders to obtain their consent to the aforesaid proposal for deferment, and in order to have clarity on the same, have called for a meeting of the debenture holders on September 9.

Happiest Minds Technologies: IPO subscribed 2.87 times on Day 1. Institutional subscription at 0.08 times which doesn’t include anchor portion. Non-institutional investor subscription at 0.62 times. Retail subscription at 14.61 times.

Non-Nifty Earnings Today: CESC, Dishman Carbogen Amcis, Future Consumer, Jindal Stainless, SML Isuzu.