To Watch

Stocks To Watch 

IDBI Bank: Cabinet Committee on Economic Affairs has approved the strategic divestment of IDBI Bank, along with a transfer of management control. The extent of respective shareholding to be divested by government and Life Insurance Corporation to be decided at the time of structuring of transaction in consultation with RBI.

Tata Motors: Competition Commission of India has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to dealership agreements. The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services and Tata Motors Finance. A clause in the dealership agreement allows Tata Motors to restrict, confine the territory of its dealers. Such a clause can create barriers to new entrants in the restricted market and can result in foreclosing of competition by hindering entry into the market, the competition regulator said.

Cipla: Roche has received emergency use authorisation in India for its investigational antibody cocktail (Casirivimab and Imdevimab) used in the treatment of Covid-19. The EUA will now enable Roche to import the globally manufactured product batches to India which will be marketed and distributed in India through a strategic partnership with Cipla.

Wipro: Has partnered with Transcell Oncologics to transform vaccine safety assessment using augmented intelligence. Transcell’s stem cell technology with the augmented intelligence capabilities of Wipro HOLMES® to improve the safety of global vaccine immunisation programs. Also, by applying AI to the vaccine development process, our solution can predict adverse neurovirulent impacts resulting from vaccinations, the company said. 

Godrej Industries: Board has approved the Information memorandum for issuance of up to 7,500 listed, unsecured NCDs of the face value of Rs 10 lakh each, aggregating to Rs 750 crore on a private placement basis. 

Maruti Suzuki: Total production in April stood at 1.59 lakh units. Total passenger vehicle production stood at 1.57 lakh units.

Force Motors: The company's total production in April stood at 1,042 units. It reported domestic sales of 1,094 units and exports of 187 units. 

Indian Bank: Has declared Saravan Stores (Gold Palace) bad loan account as fraud and reported it to the RBI. 

Bank of India: Has approved allotment of up to 42.11 crore shares at Rs 71.23 per share aggregating up to Rs 3,000 crore on a preferential basis to to the Government of India. 

Quess Corp: Has declared an interim dividend of Rs 7 per share for FY21. The record date for the same is May 13.