Tech Mahindra, Godrej Properties, Lupin in spotlight

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Trends on the Singapore stock exchange indicates that the Nifty could rise 38 points at the opening bell. The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) is scheduled to meet from 6 to 8 December 2021. MPC’s interest rate decision will be disclosed on Wednesday, 8 December 2021. In the previous meeting, MPC kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4%. Here is the list of stocks that will be in focus in today’s session.

Tech Mahindra: The IT major announced that it has acquired a 100% stake in US-based Activus Connect, a leading provider of work at home customer experience management solutions. For the financial year ended 31 December 2020, it recorded revenue of $17 million.

Godrej Properties: The real estate company has entered into a Joint venture with TDI group to develop an ultra-luxury residential project in Connaught Place, one of the most premium location within the Central Business District of New Delhi.

Lupin: The pharma company has entered into an exclusive distribution and marketing agreement with Biomm SA in Brazil. Under the terms of agreement, Biomm will distribute and market biosimilar Pegfilgrastim in Brazil.

Rushil Decor: The company’s Medium Density Fibre Board Manufacturing Unit (MDF Plant) at Chikmagalur, Karnataka has again started the commercial operation partially. Further, it will start the regular commercial operation on or before 6 December 2021.

Force Motors: The company said that its total auto production in November 2021 was 1,135 units, down 20% YoY and down 44% MoM.

Krsnaa Diagnostics: The diagnostics announced that CRISIL Ratings upgraded rating on company’s long-term facility worth Rs 200 crore to ‘CRISIL BBB+’ from ‘CRISIL BBB’.

Aptus Value Housing Finance: The NBFC on Saturday announced that CARE Ratings has upgraded company’s outlook to ‘positive’ from ‘stable’ while reaffirming the existing rating.

Narayana Hrudayalaya: The hospital chain and Ritesh Properties and Industries joined hands to set up first multi-specialty hospital at Ludhiana in Punjab.

OnMobile Global: The company has incorporated a new wholly-owned subsidiary called, OnMobile South Africa Technologies (Pty).

Meghmani Finechem: CRISIL Ratings has upgraded its rating on the company’s long term bank facilities to ‘CRISIL AA-/Stable’ from ‘CRISIL A+/Positive’.

Safari Industries (India): The company said its wholly-owned subsidiary, Safari Manufacturing, purchased a land with constructed property at Halol in Gujarat for Rs 22.51 crore.