Interest rate sensitive auto, banking and realty stocks will be watched ahead of the Reserve Bank of India's (RBI) monetary policy meeting outcome at 14:30 IST today, 2 August 2017. In June 2017, RBI kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%. Consequently, the reverse repo rate under the LAF remained at 6%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.5%.
Hero MotoCorp said its total two-wheeler sales rose 17.1% to 6.23 lakh units in July 2017 over July 2016, despite sluggish sales for the first few days of the month due to the transition to GST. The announcement was made after market hours yesterday, 1 August 2017.
Coal India reported production and offtake figures for July 2017, which were close to their targets for the month. Coal India said that production of the company and its subsidiary companies on provisional basis was 97% of targeted production at 36.64 million tonnes in July 2017. Offtake was 99% of target at 44.33 million tonnes in July 2017. The announcement was made after market hours yesterday, 1 August 2017.
Hindustan Copper will be watched. The government will sell 3.70 crore equity shares, or 4% equity, in Hindustan Copper at a floor price of Rs 64.75 each through a two-day offer-for-sale (OFS) beginning today, 2 August 2017, with an option to issue a similar number of shares in case of over subscription. The announcement was made after market hours yesterday, 1 August 2017.
Pharma major Lupin announced that it has received final approval for its Fluocinonide Topical Ointment USP, 0.05% from the United States Food and Drug Administration (FDA) to market a generic version of County Line Pharmaceuticals, LLC's Lidex Ointment, 0.05%. Lupin's Fluocinonide Topical Ointment USP, 0.05% is AB rated generic equivalent of County Line Pharmaceuticals, LLC's Lidex Ointment, 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses. Lidex Ointment had US sales of $40.3 million as per IMS MAT March 2017. The announcement was made after market hours yesterday, 1 August 2017.
Dredging Corporation of India (DCI) has participated in the tender invited by Mumbai Port Trust for maintenance dredging work for three years from 2017-2018. The project involves dredging of around 11 million cum at an estimated cost of Rs 141.06 crore for 3 years. DCI stood L1 (lowest bidder) in a stiff competition with an international company at a cost of Rs 83.998 crore. Mumbai Port Trust is expected to issue the work order soon. DCI re-captured the maintenance dredging work at Mumbai Port after almost a decade. The announcement was made after market hours yesterday, 1 August 2017.
Swan Energy announced that its subsidiary, Swan LNG, executed contract agreement worth Rs 459 crore for engineering, procurement, construction and commissioning (EPCC) of the LNG jetty topside and onshore facilities for its 5 million metric tonnes per annum (MMTPA) FSRU based LNG port project near Jafrabad, Gujarat, India with Black & Veatch. The announcement was made after market hours yesterday, 1 August 2017.
GSFC announced that Ammonia-IV plant is re-started after rectifying the problems. Ammonia production is started (at 70% capacity) since 30 July 2017. Production levels of downstream plants are being increased which were affected due to Ammonia availability. During stoppage of Ammonia production, liquid Ammonia was arranged to maximum possible extent through external supply. Operation of Urea-II plant shall also commence shortly. The announcement was made after market hours yesterday, 1 August 2017.
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