Auto stocks in focus

Auto stocks will be in focus as the auto companies will start announcing monthly sales numbers for December 2018 from today, 1 January 2019.

HDFC has increased its retail prime lending rate (RPLR), on which its adjustable rate home loans (ARHL) are benchmarked, by 10 basis points, with effect from 1 January 2019. The announcement was made after market hours yesterday, 31 December 2018.

Pharma major Lupin announced that it has received approval from the United States Food and Drug Administration (USFDA) to market a generic version of Lundbeck Pharmaceuticals LLC's Onfi Oral Suspension, 2.5 mg/ml. Lupin's Clobazam Oral Suspension, 2.5 mg/mL is indicated for adjunctive treatment of seizures associated with Lennox-Gastaut Syndrome (LGS) in patients 2 years of age or older. Clobazam Oral Suspension, 2.5 mg/mL had annual sales of approximately $260.2 million in the US (IQVIA MAT September 2018). The announcement was made after market hours yesterday, 31 December 2018.

JMC Projects (India) (JMC), a leading civil engineering and EPC company has secured new orders of Rs 596 crore. The announcement was made after market hours yesterday, 31 December 2018.

KG Denim said that its board will meet on 3 January 2019 to consider revisions in proposal for buyback of equity shares. The announcement was made after market hours yesterday, 31 December 2018.

Dynamatic Technologies announced divestment of auto division at Chennai. The company executed a 'business transfer agreement' with Hi-Tech Arai on such terms and conditions as deemed fit, thereby concluding the said transaction. In respect of the divestment of the auto division, the company will receive Rs 40 crore as consideration for transfer of all the fixed assets relating to the aluminum business of the auto division, which is in excess of the book value of underlying assets, while the company has carved out and redeployed some machinery worth Rs 8 crore into its other businesses. Additionally, the purchaser has agreed to acquire the inventories of the auto division (approximately around Rs 5.5 crore to 6.5 crore) on an actual basis at a price that will be determined by the parties upon physical verification. The announcement was made after market hours yesterday, 31 December 2018.

Centrum Capital said that its subsidiary, Centrum Financial Services, has successfully acquired the supply chain finance business of L&T Finance, consisting of an asset book of about Rs 650 crore in accordance with the business transfer agreement executed on September 2018. The business stands assigned and transferred to Centrum Financial Services as of the closing date of 31 December 2018, in accordance with the transaction documents. The announcement was made after market hours yesterday, 31 December 2018.

Shriram Transport Finance Company is considering raising of funds through various options of borrowings including by way of issue of securities in onshore/offshore market by public issue and private placement basis. Based on the market conditions the meeting(s) of Banking and Finance Committee/Debt Issuance Committee - Public NCDs/ Bond Issuance Committee will be held during the month ending January 2019 to consider and approve the terms and conditions of issue of securities. The announcement was made after market hours yesterday, 31 December 2018.

Powered by Capital Market - Live News