Stocks in Focus on July 29: Indiabulls Housing, Granules to IDFC; here are the 5 Newsmakers of the Day
Snapping its six-session falling streak, equity benchmark BSE Sensex and Nifty, on Friday, July 26, 2019, ended marginally higher.
Snapping its six-session falling streak, equity benchmark BSE Sensex and Nifty, on Friday, July 26, 2019, ended marginally higher. However, certain stocks came in news after the market was closed for the day. These stocks can have an impact on the indices after the market is opened for trading purposes on Monday, July 29, 2019. Here is a list of five such stocks:
Indiabulls Housing Finance: The company has issued a clarification on Subramanian Swamy’s letter dated June 28 alleging the Indiabulls Housing of embezzlement of more than rupees one lac crores from National Housing Bank (NHB). In its clarification, the company has said that loans outstanding as on date from NHB to Indiabulls Housing is zero. Indiabulls Housing, in its history, has never taken any loan or refinancing facility from NHB. The total loan book of Indiabulls Housing is approx. Rs87,000 Crores.
Granules India Limited: The pharmaceutical company has said that its Bonthapally facility, Hyderabad, Telangana, has been issued one observation under 483 following an inspection by the US Food and Drug Administration (USFDA). The USFDA inspected the facility from July 22-26, 2019 and handed out one observation which is ‘procedural in nature’.
Cadila Healthcare: US Food and Drug Administration (USFDA) inspected the Company’s API manufacturing facility located at Ankleshwar from July 22-26, 2019. This audit covered both Units I and II. At the end of the inspection, no observation (483) is issued.
Sheela Foam: Sleepwell mattress maker Sheela Foam’s board on Friday approved the acquisition of Spanish firm, Interplasp SL, for €42 million ($46.7 million or Rs322 crore). Interplasp S.L. is engaged in the manufacture and marketing of slabstock polyurethane foam for bedding, furniture and other applications in Spain and Portugal. This acquisition would give Sheela Foam a presence in Europe, the world's largest polyurethane foam market, and a huge potential opportunity to grow.
IDFC: IDFC Financial Holding Company Limited (IFHCL) has said that it has called off a deal to sell its securities business to The Chatterjee Group (TCG). IDFC had entered into an agreement with The Chatterjee Group [TCG] for selling the entire equity stake held in IDFC Securities Limited on June 30, 2019.
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