CNBC-TV18's top stocks to watch out for on August 26

SUMMARY

Indian shares are set for a strong start on Monday following the key announcements made by the finance minister Nirmala Sitharaman to revive the economy and encourage investment, including withdrawal of the FPI tax surcharge and capital infusion in PSU banks. However, a broader selloff in global markets likely to cap gains. Asian shares were in the red after US President Donald Trump announced an additional duty on Chinese goods. At 7:07 AM, the SGX Nifty futures traded 49 points, or 0.45 percent, higher at 10,878.50, indicating a positive start for the Sensex and the Nifty.

By CNBC-TV18Aug 26, 2019 7:47:47 AM IST (Published)

InterGlobe Aviation: InterGlobe Aviation promoter Rakesh Gangwal on Friday said the company's board has approved a new policy on related-party transactions, amid an ongoing feud with co-promoter Rahul Bhatia over governance issues. Gangwal said the board has now approved a new related-party transaction policy and to also close an open issue if the Articles of Association are amended at the company's upcoming annual general meeting (AGM) to increase the board size to 10 directors.

Alkem Laboratories: The pharma company received a Form 483 with four observations for St. Louis, Fenton Park, USA facility and no Form 483 for Baddi, India facility.

Glenmark Pharma: The company is recalling over 31,000 tubes of anti-fungal Clotrimazole and Betamethasone Dipropionate cream from the US market, as per a report by the American health regulator. According to the latest Enforcement Report by the US Food and Drug Administration (USFDA), Glenmark Pharmaceuticals Inc USA is recalling 31,224 tubes of Clotrimazole and Betamethasone Dipropionate cream USP, 1 per cent/0.05 percent, 15 gram tubes, manufactured by Glenmark Pharmaceuticals Ltd at its Baddi facility in Himachal Pradesh.

NHPC: State-run hydro power giant NHPC is likely to begin construction of the 2,000 MW Lower Subansiri power plant in October this year as it has received the requisite approval from the Assam government, an official said. NHPC had inked a memorandum of agreement (MoA) with Arunachal Pradesh for setting up the project in 2010. However, since the project falls in the territories of both Arunachal Pradesh and Assam, the latter's approval was needed as well.

Ipca Laboratories: Drug firm Ipca Laboratories on Saturday said the US Food and Drug Administration (FDA) has conducted an inspection of its formulations manufacturing unit situated at Piparia (Silvassa) from August 19 - 23 and issued three observations.

Jet Airways: Meeting of the committee of creditors (CoC) of Jet Airways (India) scheduled to be held on August 26, 2019.

Piramal Enterprises: The company's administrative committee meeting on August 28, 2019, will consider and approve the issue of secured non-convertible debentures (NCDs) on private placement basis worth Rs 500 crore.

Reliance Capital: CARE downgraded the rating to CARE BB & revised rating outlook to Stable from credit watch with negative implications for long-term debt program, market-linked debentures and subordinated debt of the company. CARE stated this action is primarily due to revision in timelines for divestments and deterioration in standalone financial performance with an increase in gearing and reduction in profitability due to impairment of assets.

Lakshmi Vilas Bank: Board of Directors meeting on August 28 to consider and approve an increase in authorised capital, fundraising through qualified institutional placement, and fundraising by way of issuance of bonds.

NCL Industries: The company signed an agreement to establish a joint venture company with Qingdao Xinguangzheng Steel Structure Company China.