NTPC: To consider proposal for share buyback on November 2. SEBI had granted certain exemptions to the company for proceeding with the share buyback on October 23. The government holds 51% stake in the company, as per the latest shareholding pattern.
Aurobindo Pharma: Novartis has filed a complaint in the Federal Court in Wilmington, Delaware against the company, stating that Aurobindo's proposed generic version of a treatment for dry eye infringes 15 patents for Xiidra, which Novartis acquired in 2019 for $3.4 billion. Novartis has sought a court order blocking copies until the patients expire.
IDBI Bank: To consider raising funds via Qualified Institutional Placement on October 29.
Great Eastern Shipping: Board approved raising Rs 150 crore via NCDs.
Forbes & Co: ICRA downgrades rating on long-term funds to ICRA BB+ from ICRA BBB+ while the outlook has been retained as negative. Similarly, it has also downgraded the rating on short-term funds to ICRA A4+ from ICRA A2. The rating downgrade reflects the weakening financial profile of its parent company, Shapoorji Pallonji.
NCL Industries: Cement production up 65% in the September quarter to 6.14 lakh MT. Cement dispatches up 68% to 6.16 lakh MT. Cement boards production down 50% to 9,216 MT while Cement boards dispatches down 9% to 13,748 MT. Numbers compared on a year-on-year basis.
Coforge: Promoter Hulst BV sold 38 lakh shares or 6.27% stake at Rs 2,310.56 per share.
Nifty Earnings Today: Bharti Airtel, Tata Motors
Non-Nifty Earnings Today: Amara Raja Batteries, Castrol India, CEAT, ICICI Prudential, JM Financial, Nippon Life India AMC, Suven Life, SKF India
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