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Of Mr Modi Providing Impetus to Defense Industry and Key Stocks in Action Today
Thu, 22 Feb Pre-Open | Parth Parekh, TM Team

Modi Announces a Defense Industrial Corridor in UP

Addressing the Uttar Pradesh Investors Summit, Mr. Modi announced the creation of a defense industrial corridor in Bundelkhand.

Given that India imports 80% of its defense requirement, the opportunity is huge for the domestic defense production industry. The announcement would generate investments of around Rs 200 billion and provide impetus to the defense industry.

The Hidden Treasure (subscription required) team-who is constantly in search of quality smallcaps, in its latest recommendation has initiated coverage on a stock who is catering to the defense segment.

This segment although young, remains a key area of focus for the government. The company has already managed to bag the orders in this new segment from DRDO (Defense Research and Development Organization). According to the management, revenues from this segment alone have the potential to grow ten times in the next couple of years.

And the good news! At yesterday's closing price, the stock is below our maximum buy price and you can purchase it in your Demat right away. Click on the above link to get a detailed report on the stock.

Biocon Gets Six Observation from USFDA for Malaysia Facility

USFDA completed a pre-approval inspection of their facility in Malaysia and issued Form 483 with six observations. Observations in Form 483 are made when investigators feel that conditions or practices at the facility are such that products may become adulterated or render injuries to health.

Biocon has yet not shared the details of the observations made by USFDA. However, the negative news was not enough to drag the share price of Biocon in the red and it ended yesterday's session up by 1.6%.

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Tata Steel Bid's for Bhushan Steel and Bhushan Power and Steel Ltd

Tata Steel has made a bid to acquire Bhushan Steel and Bhushan Power and Steel Ltd. The acquisition will be financed through the ongoing right issue as well as fresh debt. This would stretch the balance sheet and could dent the profitability in the near term.

Both these companies had made profits at operating level in FY17. However, these companies had made losses at the net profit level.

Before a decade, the steel major had made one such acquisition i.e Corus Plc and the acquisition is still hurting the company. Hopefully, the company makes a rational decision this time.

Top Stocks in Action Today

The stocks of KSB Pumps, Merck, ITD Cementation India, Sanofi India Ltd are expected to be in the news as they declare their results for the quarter ended December 2018.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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Stock Market Updates

TORRENT POWER LTD Plunges by 5%; BSE POWER Index Down 2.2% (Today's Market)

Dec 10, 2018 03:33 PM

TORRENT POWER LTD share price has plunged by 5% and its current market price is Rs 256. The BSE POWER is down by 2.2%. The top gainers in the BSE POWER Index are ABB INDIA LTD. (up 0.5%) and THERMAX LTD (up 0.4%). The top losers are TORRENT POWER LTD (down 5.1%) and ADANI POWER (down 6.8%).

INDIABULLS HOU. FIN. Plunges by 5%; BSE 500 Index Down 1.9% (Today's Market)

Dec 10, 2018 03:33 PM

INDIABULLS HOU. FIN. share price has plunged by 5% and its current market price is Rs 704. The BSE 500 is down by 1.9%. The top gainers in the BSE 500 Index are KAVERI SEED (up 4.6%) and TTK PRESTIGE (up 4.5%). The top losers are INDIABULLS HOU. FIN. (down 5.0%) and INFO EDGE (down 5.8%).

The BSE BANKEX Index Down 2% ; KOTAK MAH. BANK Among Top Losers (Today's Market)

Dec 10, 2018 03:33 PM

The BSE BANKEX Index Down at 29,376 (down 2.1%). Among the top losers in the BSE BANKEX Index today are KOTAK MAH. BANK, PNB and AXIS BANK. Meanwhile, the BSE Sensex has plunged 2.0% to 35,247.

RADICO KHAITAN Plunges by 5%; BSE 500 Index Down 2.0% (Today's Market)

Dec 10, 2018 03:31 PM

RADICO KHAITAN share price has plunged by 5% and its current market price is Rs 382. The BSE 500 is down by 2.0%. The top gainers in the BSE 500 Index are ITI LTD (up 5.0%) and HIMACHAL FUTURISTIC (up 4.6%). The top losers are RADICO KHAITAN (down 5.1%) and INFO EDGE (down 5.8%).

RELIANCE NIPPON LIFE ASSET MANAGEMENT LTD Plunges by 5%; BSE 500 Index Down 1.9% (Today's Market)

Dec 10, 2018 03:25 PM

RELIANCE NIPPON LIFE ASSET MANAGEMENT LTD share price has plunged by 5% and its current market price is Rs 175. The BSE 500 is down by 1.9%. The top gainers in the BSE 500 Index are ITI LTD (up 5.9%) and HIMACHAL FUTURISTIC (up 5.1%). The top losers are RELIANCE NIPPON LIFE ASSET MANAGEMENT LTD (down 5.0%) and KOTAK MAH. BANK (down 6.4%).

Indian Indices Continue Sell-Off; Sensex Down Over 550 Points (Today's Market)

Dec 10, 2018 12:30 pm

The BSE Sensex is trading down by 559 points, while the NSE Nifty is trading down by 172 points.

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Dec 10, 2018 03:35 PM

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