Overnight Digest – Stocks to look out for on July 21

The stocks which could witness a significant movement on July 21 are Lupin, L&T Infotech, Lanco Infratech, NHPC, JSPL.

a)Lupin: The pharma frontliner, Lupin has launched Generic Ortho Tri-Cyclen tablets namely Norgestimate and Ethinyl Estradiol tablets in US which have US FDA approval. The launch will be positive for the stock.

b)L&T Infotech: L&T’s IT arm, L&T Infotech is all set to get listed on July 21 in leading stock exchanges NSE and BSE. The IPO had received more than one million applications which is the highest in last 5 years.

c)Lanco Infratech: The company has clarified on the news item, which flashed on CNBC TV 18 that the company is in discussion with its lenders and consultants to sell some of its operating assets. The company will further inform the exchange, once the proposal gets accepted by the lead lender.

d)NHPC: The company in a press release has informed BSE, that a meeting of the board of directors of the Company will be held on July 22, 2016, to consider and approve raising of corporate bonds upto Rs. 4500 crores till September 2017, on a private placement basis subject to shareholders’ approval through a special resolution.

e)JSPL: Jindal Steel and Power Limited will move an ‘appropriate forum’ in connection with the notice served by the Chhattisgarh government for recovering alleged excess payment made against power purchased from the company. The company has received a notice seeking refund of Rs 153.55 crore, along with interest, pursuant to the tariff order dated June 12, 2014, passed by the Chhattisgarh State Electricity Regulatory Commission.