Stocks To Watch

 Reliance Industries: Silver Lake to invest an additional Rs 1,875 crore in Reliance Retail Ventures. This is the second investment made by Silver Lake in RRVL. The aggregate investment made by Silver Lake in RRVL now stands at Rs 9,375 crore for a 2.1% stake.

The government has cut prices of natural gas by 25% to $1.79 mmBtu. The new prices are effective today and are the lowest in a decade. The new price for natural gas produced from domestic fields will be valid for six months, starting today. Gas ceiling price for difficult fields with high pressure and high temperature set at $4.06/mmBtu. Watch out for stocks like ONGC & Oil India along with City Gas Distributors like Indraprastha Gas, Mahanagar Gas and tiles companies like Kajaria.

Inox Leisure, PVR, Hotel Stocks: Government has allowed reopening of cinema halls, theatres, multiplexes from October 15 with a maximum of up to 50% of their capacity. However, Maharashtra has extended the lockdown in the state to October 31.

Lupin: Launched the Lapatinib Tablets, after the company's alliance partner Natco Pharma received final approval for its ANDA from the U.S. FDA. The drug is used primarily for the treatment of certain types of breast cancer. The drug had sales of $61 million in the U.S. Market as per IQVIA data till June 2020.

MOIL: The price of all grades of Ferro, SMGR grades, fines and Chemical grades have been raised by 7.5% as compared to the previous month. The new prices take effect today.

Sanofi: Sanofi Pasteur India - the company’s vaccine unit said it has launched a booster vaccine for preschoolers to protect against four major diseases -diphtheria, pertussis, tetanus and polio.

Punjab National Bank: Reported a borrowal fraud of Rs 1,203.26 crore in the NPA account of Sintex Industries. Bank has already made provisions worth Rs 215.21 crore, as per prescribed prudential norms.

HDFC: National Housing Bank imposed a monetary penalty of Rs 1.5 lakh on the company for non-compliance with two provisions of the Housing Finance Companies (NHB) Directions, 2010.

Bank of Baroda: Has dissolved its wholly owned arm BOB (U.K.) in the United Kingdom on September 22.

JMC Projects: CARE Ratings has downgraded the rating of the company’s short-term bank facilities to CARE A1 from CARE A1+. The revision in ratings is on account of high working capital intensity of operations which is likely to remain high amid heightened execution challenges due to the Covid-19 pandemic along with continued funding requirement for company's underperforming operational toll projects.

Infibeam Avenues: Sold its 51% stake in its wholly-owned arm Infibeam Logistics to Osia Hypermart Retail for Rs 19 crore.

Shree Renuka Sugars: To commence operations at its port-based refinery at Haldia (West Bengal) in the first half of October, subject to receipt of all regulatory approvals. The Haldia refinery can refine up to 2,000 tons of raw sugar per day.

Indian Bank: Revises base rate to 8.3% from 9.15% while external benchmark lending rate revised to 12.55% from 13.4%. The new rates are effective from October 3. MCLR and Policy Repo Rate-linked External Benchmark Lending Rate remains the same