Hero Moto board approves investing up to Rs 450 cr in Hero FinCorp in tranches, via private placement (Positive)
Sun Pharma enters into a licence agreement with Astra Zeneca for novel ready-to-use (RTU) infusion oncology products in China (Positive)
Tech Mahindra Q2: Net profit up 17.2% at Rs 1,124 crore versus Rs 959.4 crore, rupee revenue rises 4.8% at Rs 9,070 crore against Rs 8,653 crore, QoQ (Positive)
Cholamandalam Investment Q2: Net profit at Rs307 crore, revenue up 31.2 percent at Rs 2,197 crore (Positive)
Greaves Cotton gives in-principle approval for the acquisition of 18.77 percent stake in subsidiary companies i.e. Ampere Vehicles (Positive)
SPARC enters into a licensing deal with China Medical System Holding (Positive)
Wipro launches the Wipro RAPIDS DXP solution suite (Positive)
Hikal – ICRA has reaffirmed the company’s long term rating of A (stable). (Positive)
Max India: Composite merger scheme involving Radiant Life Care received shareholders’ approval (Positive)
CG Power: CG Power Indonesia bagged additional IDR 334 billion (USD 24 million) order from Indonesian state utility (Positive)
Finance Minister says real estate sector needs attention & Govt is working with RBI (Positive)
Infosys: Movement Mortgage has selected Infosys to lead its digital transformation, development services. (Positive)
Transport Corporation of India: CRISIL has upgraded the long-term rating to AA/Stable from AA-/Positive). (Positive)
Titan Q2: Net profit up 1.8% at Rs 320.2 crore versus Rs 314.4 crore, revenue up at Rs 4,435 crore versus Rs 4,407 crore, YoY. (Neutral)
M&M: Total October production stands at 44,697 units against 56,752 units in the same period last year (Neutral)
PNB’s slippages for Q2 rise 50% on a sequential basis to Rs 8119 crore. (Negative)
Sagar Cement: The cement production for October is down 26 percent YoY while sales are down 28 percent YoY. (Negative)
BEL Net Profit at Rs 344.0 crore versus poll of Rs 470 crore, EBITDA at Rs 545 crore versus poll of Rs 680 crore (Negative)
CLSA on Dabur: Maintain Buy call and raise target at Rs 575/Sh (Positive)
Credit Suisse maintains outperform call on Dabur, remains positive on co over the medium-term with raise target at Rs 535/Sh (Positive)
CLSA has Overweight Call on Godrej Prop, raise target at Rs 1200 /Sh (Positive)
Citi on SRF: Maintain Buy call with the target at Rs 3561/Sh (Positive)
Morgan Stanley On Tech Mahindra: Maintain overweight call with the target at Rs 850/Sh (Positive)
CLSA maintains Buy call on Guj Gas, raises EPS estimates by 15-53% for FY20-2. Target raised to Rs 270 from Rs 210/Sh. (Positive)
UBS feels a strong Q2 for Tech Mahindra, positive H2 guidance should buoy sentiment, maintains neutral call on co, target at Rs 680/Sh (Neutral)
Credit Suisse maintains underperform call on Punjab National Bank, cuts FY21 EPS estimate by 40%, target cut to Rs 55/Sh (Negative)
Credit Suisse cuts FY20-22 earnings estimate for Titan by 8-10%, maintains neutral rating on co; target price at Rs 1110/Sh (Negative)
CLSA downgrades Titan to sell from underperform, target cut to Rs 1,025/Sh (Negative)
CLSA has a Buy rating on NCC, target cut to Rs 105 from Rs 138/Sh (Negative)
Credit Suisse notes that Apollo Tyres posted weak Q2 results, feels the outlook is not too encouraging. Maintains neutral call on co, target price at Rs 160/Sh (Negative)
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