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DCM Shriram stock surges after commissioning facility

Shares of DCM Shriram surged 6% on the BSE after the company has commissioned 200 KLD distillery at Ajbapur on December 3, 2019.
The total capacity of the companys distillery after the said commissioning now stands at 350 KLD, the company said in the filing.

RBI Monetary Policy: MPC leaves repo rate unchanged at 5.15%

The Reserve Bank Of India (RBI), in its fifth -monthly policy review in December, keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.15%.
Consequently, the reverse repo rate under the LAF remains unchanged at 4.90% and the marginal standing facility (MSF) rate and the Bank Rate at 5.40%.
The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth while ensuring that inflation remains within the target.

Zydus Cadila announces regulatory filing of Saroglitazar Magnesium

Zydus Cadila, an innovation-driven, global pharmaceutical company, announced that it has led the NDA of Saroglitazar Mg in Non-alcoholic Steatohepatitis (NASH) with the Drug Controller General of India (DCGI).
There is a signicant need for new therapies for patients with NASH, who have no treatment options as their liver disease progresses, other than opting for eventual liver transplants to survive. We are very pleased that our NDA  has been accepted for review which we believe represents an important step towards providing an innovative treatment option for millions of patients suffering from this devastating liver disease,” said Pankaj R. Patel, Chairman, Zydus group.

HCL Technologies stock turns ex-bonus with 1:1 issue

HCL Technologies has rewarded its shareholders with a 1:1 bonus issue. Earlier in 2015 and 2007 too, the company had rewarded its shareholders with 1:1 bonus issues.
We would like to inform you that the record date for determining the entitlement of the equity shareholders of the Company for the bonus shares has been fixed for December 7, 2019, subject to the approval by the shareholders for issuance of bonus shares and increase in authorized share capital of the Company as proposed vide Postal Ballot Notice dated October 26, 2019 the company said in the filing.

SBI to sell up to 8.25% stake in UTI AMC through IPO

State Bank of India (SBI) on Wednesday decided to sell its 8.25% stake in UTI AMC through an initial public offering (IPO).
LIC, SBI, Punjab National Bank, and Bank of Baroda each hold 18.5% stake each in UTI AMC. The US-based T Rowe Price holds a 26% stake in the asset management company.
Pursuant to the applicable provision on the SEBI Regulation, we advise that the Executive Committee of the Central Board of Directors (ECCB) of the Bank at its meeting held today has accorded final approval, for divestment of SBI stake in UTI AMC up to 8.25% through IPO by way of offer for sale of up to 1,04,59,949 equity shares (the “Offered Shares”), subject to the approval of the Securities and Exchange Board of India (‘SEBI’), and/or such other concerned authorities and departments, the bank said in a press note.

Bharti Airtel board approves raising of funds up to $3bn

Bharti AirtelBharti Airtel informed the exchanges that its board has approved raising of funds via:
one or more qualified institutions placement, public and/or private offerings of equity shares, compulsory convertible debentures / other convertible securities / warrants / ADR / GDR or a combination thereof for an aggregate amount of $2bn (equivalent currency)
Issuance of unsecured and/or secured, listed and/or unlisted, Foreign Currency Convertible Bonds (FCCBs) or other similar security denominated in foreign currency(ies) or combination thereof in one or more tranches for an aggregate amount upto $1bn (equivalent currency) on private placement basis or otherwise,
Issuance of unsecured and/or secured, listed and/or unlisted, redeemable non-convertible debentures along with warrants or other similar security denominated in INR or combination thereof in one or more tranches for an aggregate amount upto $1bn (equivalent currency) on private placement basis or otherwise.
Apart from $2bn under the first point above; the overall issuance under the remaining two points for now shall be upto $1bn, thereby totaling to $3bn.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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