Stocks To Watch

Coal India: Board accorded in-principle approval to venture into Aluminium Value Chain and Solar Power Value Chain. It has also approved creating Special Purpose Vehicles (SPVs), subject to approval from the Niti Aayog, DIPAM and after feasibility studies and business analysis are completed and financial viability is established for Solar Power Value Chain, New & Renewable Energy business vertical and an integrated aluminium complex, which will be a greenfield project by Central Coalfields.

Cadila Healthcare: Zydus Cadila submits Phase I and II clinical trial data of ZyCoV-D and has sought approval to begin phase III clinical trials. Immunogenicity in Phase II clinical trial of ZyCoV-D in healthy subjects clearly established as also endorsed by the Independent Data Safety Monitoring Board. The company plans to initiate Phase III clinical trials in around 30,000 volunteers post necessary approvals

NIIT: Board approves buyback of 98.75 lakh equity shares of face value of Rs. 2 each. The buyback amounts to 6.97% of the total equity. Buyback price of Rs 240 per share is a 20% premium to Thursday's closing price.

Westlife Development: Royalty for FY21 and FY22 remains fixed at 4%. The company has opened four new stores post March 2020. Over the last two quarters, the company has seen healthy recovery in business with dine-in building up rapidly, even as its convenience channels continue to grow.

DLF: DLF Cyber City Developers enters into a securities purchase agreement with Hines to acquire 51.8% stake in Fairleaf for a purchase consideration of approximately Rs 780 crore. The transaction is expected to be consummated in the next quarter, subject to requisite closing conditions, post which Fairleaf will become a wholly-owned subsidiary of DLF Cyber City Developers. DCCDL already holds 48.2% stake in Fairleaf.

Advanced Enzymes Technologies: To acquire 51% of equity share capital of SciTech Specialities, post which, SSPL will become a subsidiary of the company. The acquisition will be done for a cash consideration of Rs 31.26 crore and is likely to be completed by January 31, 2021. SSPL specialises in effervescent granules and tablets and the acquisition fits with the company's move to expand into the B2C business.

Lupin: Gets tentative approval from the U.S. FDA for its Efinaconazole Topical Solution, 10%. It is used in the topical treatment of onychomycosis of the toenails. For the 12-months ending September 2020, it had annual sales of $222.9 million in the U.S., as per IQVIA data.

Dish TV: Gets demand notice worth Rs 4,164.05 crore from the Ministry of Information and Broadcasting. The said amount includes License Fee Payable and accrued interest thereon. The ministry has asked the company to remit the amount within a period of 15 days. The company also said that the amount is further subject to verification and audit and outcome of various court cases pending before the TDSAT, the Jammu & Kashmir Highcourt and the Supreme Court, in the matter of DTH License fee.

Asian Granito: Expanding export network to over 120 countries from 100. Anti-China sentiments, reduction in gas proces and robust export orders from U.S., Europe, U.K. and the Middle-East are driving the export business in the current fiscal and it is likely to get further momentum in the coming months. 

Consolidated exports rose to around 17.6% of overall revenue in H1FY21 as compared to 13.8% in H1FY20. Inaugurated 15,000 square feet AGL Export House at Morbi to strengthen the company's international operations.

Biocon: U.S. FDA informs Biocon Biologics of deferred action on the Biologics License Application (BLA) for MYL-14020, a proposed biosimilar to Avastin. The agency noted that an inspection of the manufacturing facility is required as part of the standard review process. However, due to restruction on travel, the agency is unable to conduct an inspection during the current review cycle.