Top 5 stocks in focus on July 4: Fortis, Lupin to Dena Bank, here are the 5 newsmakers of the day
Tracking mixed global cues and positives sentiments of the domestic institutional investors (DIIs), the domestic market of India is likely to be neutral on Wednesday, .i.e. on July 4, 2018. However, there are few stocks that came into news on Tuesday and its reflections can be seen in the market today.
Tracking mixed global cues and positives sentiments of the domestic institutional investors (DIIs), the domestic market of India is likely to be neutral on Wednesday, .i.e. on July 4, 2018. However, there are few stocks that came into news on Tuesday and its reflections can be seen in the market today. Here is a list of concerned stocks:
Fortis Healthcare: TPG-backed Manipal Health Enterprises Pvt. Ltd and Malaysia’s IHH Healthcare have made fresh binding offers to the board of Fortis Healthcare on the last day of submission of bids. On the other hand, the combine of Sunil Kant Munjal of Hero Enterprises and the Burman family of the Dabur have pulled themselves out of the race for Fortis. IHH said its bid will be valid till 5 pm on July 16, 2018, and will be deemed thereafter to have been withdrawn.
Lupin Limited: Lupin has entered into a settlement and license agreement with Horizon Pharma for RAVICTI Oral Liquid, 1.1 gm/mL. The settlement agreement provides Lupin with a non-exclusive, royalty-free license to manufacture and commercialize Lupin's generic version of RAVICTI Oral Liquid in the United States after the License Effective Date that is July 1, 2026.
Mahindra & Mahindra (M&M) Finance: International Finance Corporation (IFC) has invested Rs640 crore in Mahindra & Mahindra Financial Services through NCDs. The company will use the funds to augment its growth by extending loans to individuals, including farmers, to buy tractors, vehicles and other equipment, along with financing small and medium enterprises. IFC is a World Bank Group member.
Kwality Limited: The company's board during its meeting deferred the proposed share buyback and bonus issue.
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Dena Bank: The bank has proposed to sell 60.5 lakh shares in NSDL E-Governance Infrastructure, NSDL and SIDBI shares, as part of the public sector bank’s strategy to hive off non-core assets. The bank will sell 1.563 per cent in NSDL E-Governance, 0.90 per cent stake in SIDBI and 0.563 per cent stakes in NSDL.
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