Maruti Suzuki, Dr. Reddy's and Dilip Buildcon to see some action today

Maruti Suzuki India has reported 11.13% rise in its production to 1,23,769 vehicles in August 2020, as compared to 1,11,370 vehicles in August 2019. Of total, the company manufactured 22,208 vehicles under mini segment (including Alto, S-Presso) in August 2020, as against 13,814 units manufactured in corresponding month previous year.  The company manufactured 67,348 vehicles under Compact segment; 1,190 vehicles under Midsize; 21,737 units under Utility Vehicles segment and 8,898 units under Vans category.

Dr. Reddy's Laboratories has launched  Fulvestrant Injection, 250 mg/5 mL (50 mg/mL) per Single-dose Syringe, a therapeutic equivalent generic version of Faslodex (fulvestrant) Injection, 250 mg/5 mL (50 mg/mL), approved by the U.S. Food and Drug Administration (USFDA). The Faslodex brand and generic market had U.S. sales of approximately $407 million MAT for the most recent twelve months ending in June 2020 according to IQVIA Health.

Dilip Buildcon has been declared as L-l bidder for a new HAM proiect viz. ‘Construction and upgradation of NH - 131A from Km 34.600 (design Ch: 6.000) near Narenpur to Km 79.970 (design Ch: 53.000) near purnea to 4 lane standard and from km 79.970 (design Ch: 53.000) to Km 82.000 design Ch: 55.000 near Purnea to 2 lane with paved Shoulders standard in the State of Bihar on (Hybrid Annuity) Mode Project. The bid project cost is Rs 1905.00 crore and the completion period for the project is 24 months.

PNC Infratech in Joint Venture with SPML Infra has been declared as the L1 (lowest) bidder for ‘Construction of Haraulipur Group of Villages (125 Nos) Water Supply Project comprising surface and ground water supply schemes and allied works including commissioning; operation and maintenance for 10 years in the Hamirpur district of Uttar Pradesh’ for Rs  289.83 crore. The company’s share in the JV is 95%.

Jammu and Kashmir (J&K) Bank is looking to raise up to Rs 4,500 crore through equities and debt. The bank will augment the capital base by raising common equity issue of additional tier-1 bonds or issue of tier-2 bonds and through internal profit accruals. The bank will seek shareholders' approval for the fund raise proposal in its annual general meeting to be held on September 28, 2020.

ITC is expecting the upcoming festive season to push demand of products, including some discretionary items like perfume, confectionery and cosmetics. The company is also witnessing a surge in its online sales, with e-commerce contributing around 4.2 percent to its overall turnover. It has witnessed fast growth in its online business in the wake of the pandemic and expect to continue the momentum.

Manappuram Finance has raised Rs 100 crore by issuing 1000 Market Linked, Rated, Secured, Redeemable Non-Convertible Debentures (NCDs) having a face value of Rs 10,00,000 each on a Private Placement basis to be listed on the BSE. The Financial Recourse and Management Committee of the Board of Directors of the company at its meeting held on September 07, 2020 have approved the allotment of the same.