CNBCTV18’s top stocks to watch out for on October 1
Indian shares are set to open higher on Tuesday over hopes of a larger-than-expected cut in key interest rates by the Reserve Bank of India. However, muted trades in global markets and Indian trade and manufacturing data could limit gains in local markets. Asian shares traded marginally higher on optimism with regards to the US-China trade negotiations. At 7.15 AM, the SGX Nifty futures traded 29 points, or 0.25 percent, higher at 11,567, pointing to a positive start for the Sensex and the Nifty. Here are the top stocks to watch out for:
Lupin: The Pharmaceutical and Medical Devices Agency (PMDA), Japan, has completed the Good Manufacturing Practice inspection of the company’s Goa facility (unit I and II). The inspection was conducted between September 24 and 27. The PMDA inspection closed with no critical or major observations. (Image: Reuters)Reliance Industries: Saudi Arabia has assured Mukesh Ambani’s Reliance Industries that it will supply all the committed crude oil volumes in October as the world’s largest oil exporter recovers faster than expected from the biggest attack ever on its oil industry. (Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.) (Image: Reuters)Cadila Healthcare: It has inked a pact to sell rights of its cholesterol-lowering product Zypitamag in the US and Canada markets to Medicure lnc for a total consideration of $7 million. The company has entered into an asset purchase agreement to sell its right, title and interest in Zypitamag, along with applicable registrations and intangible assets relating to the product for US and Canada markets to drug firm Medicure. (Image: Company)CG Power and Industrial Solutions: CG Power CEO K N Neelkant resigned. Late last month, the board of CG Power and Industrial Solutions removed its founder Gautam Thapar as chairman following an investigation unearthing a multi-crore financial fraud in the company. (Image: Company)Motilal Financial Services: The firm has entered into an assignment agreement dated September 30 with Phoenix ARC for an upfront sale of a pool of non-performing assets of the HFC Company. (Image: Company)Wockhardt: CARE has revised ratings on long-term bank facilities as “CARE BB+; Stable from “CARE BBB-; Negative. The revision in ratings assigned to the bank facilities/proposed NCDs issue factors in significant refinancing risk in Q3FY19 and FY20, notwithstanding promoters’ commitment for infusion of funds till date to tide over temporary cash flow mismatches, weakened overall financial profile and stretched liquidity position as denoted by high utilization of working capital limits. (Image: Company)National Peroxide: The company’s plant located at Kalyan, Maharashtra, has been temporarily shut down from today for carrying out the expansion of production capacity from 95,000 MT to 150,000 MT PA. The plant will remain under shutdown for an approximate period of 90 days. (Image: Company)AGL Tiles: Asian Granito India expands Bathware range and plans to launch a range of faucets, showers and bath accessories. The company expects AGL Bathware to become Rs. 150-200 crore brand in the next 4-5 years. (Image: Company)JMC Projects: JMC has secured new orders worth Rs 560 crore. Commercial Real Estate projects in Southern and Western India are totaling Rs 312 crore and water supply project in Odisha is worth Rs 248 crore. (Stock Image)Creditaccess Grameen: The firm has completed a direct assignment of Rs 132.46 crore on September 30. This is the second direct assignment transaction initiated during the FY-2019-20. With this transaction, the company has completed one securitization and two direct assignment transactions totalling to Rs 381.70 crore in FY-2019-20. (Image: Company)
