Piramal Enterprises: Piramal Finance, a subsidiary of Piramal Enterprises, said it plans to foray into housing finance business. In line with the company's growth plans, Piramal Finance will now make an application to the National Housing Bank for incorporating a housing finance company. This has been approved by the company's board on January 5.
IT stocks in focus: Two US Congressmen have reintroduced a bill to curb the use of H-1B visas, on which the Indian IT sector is particularly dependent, the first salvo in the battle against outsourcing that is expected under the watch of President-elect Donald Trump. The new bill would require workers on the H-1B visa pay a minimum of $100,000, up from $60,000 currently. The bill also removes the Master's degree exemption to the cap on the number of visas available, as per media reports.
Wockhardt: Wockhardsaid German regulator has issued European Union Good Manufacturing Practice certificate to the company's Ankaleshwar facility in Gujarat.
Chartered Logistics: The company registered net profit of Rs 4 crore, up 50%, against Rs 2.74 crore in the corresponding quarter last year.
GM Breweries: The company reported 36% decline in net profit at Rs 10 crore for the quarter ended December 30, 2016. It had posted a net profit of Rs 15.6 crore in the corresponding quarter last year.
SBI: State Bank of India will take the lead among state-run lenders to launch branch-less banking called SBI Digi Bank, something similar to what Citi or DBS have done elsewhere in the world.
Mastek: The comapny’s US entity Digility has acquired TAISTech. In a BSE filing, the company said, “This acquisition will create a platform for Mastek's accelerated growth in the US market and will augment Mastek's 2020 vision to be a global leader in digital transformation services.”
Credit Analysis and Research: The company on Thursday informed bourses that it has been operating in Maldives based on licence issued by Capital Market Development Authority (CMDA), Maldives. The current licence issued by CMDA has expired on January 5. After a review of the past operations and future prospects in Maldives, CARE has decided not to renew its licence. This has been already notified to CMDA.
Sagar Cements: South India based, large cap, cement manufacturing company Sagar Cement's consolidated data shows that for the month of December 2016, the total cement sales was negligibly down by 0.3% as compared to sales during December 2015.
Glenmark: Sanofi has sued Glenmark Pharmaceuticals Ltd and Torrent Pharmaceuticals Ltd in a US court over their plans to launch a generic version of its multiple sclerosis drug, Aubagio, as per media reports.