Stocks To Watch

Vedanta: The company on Saturday said that the delisting offer is deemed to have failed as per terms of the delisting regulations. The post offer public announcement by the company said that 125.47 crore shares were validly tendered by public shareholders. For successful delisting of shares, 134.12 crore shares needed to have been validly tendered for promoter shareholding to cross 90%. Bids worth 12.31 crore were unconfirmed.

Federal-Mogul Goetze (India): Promoter IEH FMGI Holdings to sell up to 1.21 crore shares or 21.83% stake through an Offer for Sale (OFS). The floor price of Rs 342 per share is a 21.1% discount to Friday's closing price. The promoter looks to raise Rs 415.4 crore through this OFS. The OFS for non-retail investors opens on October 12 while for retail investors, it opens on October 13.

Glenmark: The company said that addition of Umifenovir did not demonstrate any additional benefit over Favipiravir alone in moderate Covid-19 patients. Umifenovir did not show superior clinical outcomes when added to Favipiravir treatment. The trial did not meet key end-points.

Indiabulls Housing Finance: Has sold further portion of its stake in OakNorth Holding - the wholly-owning parent company of OakNorth Bank to Riva Capital Partners for approximately Rs 441 crore. The company has now raised a total of Rs 2,273 crore as fresh equity in September and October through a QIP and stake sales. The sale proceeds will be accretive to the regulatory net worth and CRAR of the company.

Dr Lal Pathlabs: The company has clarified that the data breach of patients was a result of misconfiguration in one of the company's minor web applications where temporary records were stored for operational purposes. It involved less than 0.5% of the records and the issue has been resolved since. A report on Saturday revealed that data of millions of patients, including Covid-19 test results was exposed. The company has said that the relevant authorities have been informed.

Shilpa Medicare: Gets U.S. FDA warning letter for its formulations facility in Jadcherla, Telangana. The Company believes that the warning letter will have minimum impact of disruption of supplies and the existing revenues from operations of this facility.

RITES: Secures consultancy orders for Rs 103 crore. One order includes Project Management Consultancy work for complete planning, design, execution and other services for various buildings at IIT Delhi worth Rs 54 crore. The other is for South Eastern Coalfields for Rs 46 crore and the third pertains to the study of Multi-Modal Integration Planning for the Surat Metro project for Rs 3.24 crore.

ONGC AGM Takeaways: Chairman Shashi Shankar says that the company expects better price realisations from reforms for new gas production announced by the government this week. He also said that ONGC will reexamine plans to develop some older fields which were not viable earlier. The company expects to complete the merger between MRPL & ONGC Mangalore Petrochemicals (OMPL) by June 2021, post which, MRPL will be merged with HPCL. The company's Director of Finance Subhash Kumar said that ONGC could lose Rs 6,000 crore to Rs 7,000 crore from its gas business after the cut in prices.

Godrej Properites: NCLT approved amalgamation of Wonder Space Properties with the company.

Premier Explosives: Gets domestic order for explosives worth Rs 82.8 crore from the Telengana government.

GE Shipping: The company has signed a contract to buy a secondhand LR2 product carrier. The vessel is expected to join the company's fleet in Q3FY21.

Liberty Shoes: CARE Ratings downgraded long-term bank facilities worth Rs 165.4 crore to CARE BBB+ from CARE A-. The outlook is revised to stable from negative.

Karnataka Bank: Reports a fraud amounting to Rs 107.99 crore in the credit facilities extended earlier to Sintex Industries' borrowing account. The account was classified as an NPA in August 2019 and has been fully provided for and will not impact the bank's financials going forward.

Non-Nifty Earnings Today: GNA Axles, Shalby.