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Market Updates

The Markets are expected to open marginally lower today as trend in GIFT nifty indicate a positive start for the broader index after Nifty closed 33 points lower at 19,731 on Friday.

SBI Cards and Payment Services:

The capital adequacy is expected to decline by 400 basis points on account of the RBI's revised credit risk weights. The bank is well capitalised as of now and well above the regulatory guideline of 15%. It has enough sources and a diversified lender base to manage its impact, and it doesn't foresee a significant impact on the cost of funds during this fiscal

Remsons Industries:

The company will consider and approve the proposal for raising funds by way of the issuance of equity shares or any other eligible securities / warrants convertible.

Aurobindo Pharma:

A USFDA inspection at its facility in Telangana from Nov. 13 to 17 closed with zero observations and a classification of 'No Action Indicated'.

Exide Industries:

The company settled the chloride trademark dispute with the UK's Vertiv Group and India's Vertiv Energy VCGL and VEPL shall not use the said 'CHLORIDE' mark in India, either directly or indirectly, and shall withdraw all their claims over this mark in favour of Exide.

Kalyan Jewellers:

Unit Kalyan Jewellers FZE acquired the remaining 30% stake in Kalyan Jewellers LLC, Oman, on Nov. 16. Kalyan Jewellers LLC, Oman, has become a wholly owned subsidiary of Kalyan Jewellers FZE.

Adani Power:

Ardour Investment Holding acquired 1.93% between Sept. 26 and Nov. 16. Emerging market Investment DMCC acquired 0.13% on Sept. 29. Promoters now hold 71.14% of the company.

Elecon Engineering:

Elecon Middle East FZCO, Dubai, has incorporated its wholly owned subsidiary, 'Elecon Radicon Africa'.

Newgen Software:

The board on Nov. 27 will consider and recommend a proposal for the issue of bonus shares.

Tamilnad Mercantile Bank:

ED orders the bank to transfer the 3.31% stake held by MGM Maran in favour of the Director of Enforcement. The ED had attached assets worth Rs 205 crore to MGM Maran and his associates under PMLA in 2016.

Maruti Suzuki:

Shareholders approved the acquisition of Suzuki Motor Gujarat manufacturing facility through preferential allotment of equity shares with 98.91% votes in favour.

Zen Technologies:

The company won an export order worth $5.12 million (around Rs 42 crore), including simulators, from an unnamed friendly nation.

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