Buzzing | DHFL shares locked in 5% upper circuit after receiving no objection from RBI
The shares of Dewan Housing Finance Corporation (DHFL) were locked in a 5 percent upper circuit at Rs 19.80 on Friday, in an otherwise weak market, after the company received no objection from the central bank for the Piramal plan. DHFL on Thursday said it has received no objection from the Reserve Bank and has filed an application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance. Earlier this week, DHFL had announced the Piramal group’s resolution plan getting approval from the RBI.
Government gives nod to 11 bulk drug cos under PLI scheme
The government has approved the next set of companies under the Production Linked Scheme for bulk drugs. A total of 11 companies have been given the go-ahead to produce nine key starting materials (KSMs). Five companies have been approved to produce six fermentation-based niche key starting materials of KSMs or bulk drugs. Another six companies have got approval to produce three chemical synthesis KSMs or intermediates.
Key starting materials, intermediates and active pharma ingredients are basic raw materials or bulk drugs used in the manufacture of final formulations or drugs consumed. While India is a leading exporter of the final product, generic drugs, it heavily imports raw materials or bulk drugs, much of them from China. For some raw materials, the import dependence is as high as 80-100 percent. Read more.
HDFC Securities on Consumer Durables
Pent-up demand (most seasonal categories missed out massively in the last season), work-from-home (to support convenience-driven categories), improving housing activities and resumption of capex will sustain strong revenue traction in the coming quarters too. Leading companies are expected to pass on raw material inflation while restoring operational cost will be compensated by oplev. EBITDA margin will remain healthy in the coming quarters albeit margin expansion is expected to be slower than the past two quarters. Earnings potential will sustain the rich valuation and seasonal channel filling will be the key monitorable for stock performance.
Natco Pharma | The company has launched Brivaracetam tablets under brand BRECITA in India for the treatment of epilepsy.
Keshav Lahoti, Associate Equity Analyst, Angel Broking
We had given a subscribe rating to RailTel Corporation IPO, today the stock made a listing on the exchange at 11.3% above its issue price and is currently trading at 21.4% above issue price at the higher price band. Currently, stock is trading at 26 PE on FY20 trailing basis. Considering this, Company has a…
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