SpiceJet, Piramal Healthcare, Pipavav Defence among 15 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Jet Airways, Indigo, SpiceJet:  Competition Commission of India has imposed penalties upon 3 Airlines for concerted action in fixing and revising Fuel Surcharge for transporting cargo. Accordingly, penalties of Rs. 151.69 crores, Rs. 63.74 crores and Rs. 42.48 crores were imposed upon Jet Airways (India) Ltd., InterGlobe Aviation Limited and Spice Jet Limited respectively for the impugned conduct which was found to be in contravention of the provisions of section 3(1) read with section 3(3)(a) of the Act. Besides, cease and desist order was also issued against the Airlines.

Essar Ports Ltd: Essar Ports will cease to exist as a public limited company after its promoters successfully delisted the private sector port company. The delisting price was fixed at INR 133 a share.

RPower: Reliance Power has managed to make a quick exit from the 4,000 MW Tilaiya ultra mega power project (UMPP) in Jharkhand after the electricity distribution utilities (discoms) agreed to terminate the power purchase agreement (PPA).

Larsen & Toubro: L&T has decided to defer the sale of its wholly-owned subsidiary L&T Valves, as the company focuses on the initial public offering (IPO) of its Information Technology subsidiary, as per media reports. As part of its strategy to exit non-core businesses, L&T had decided to sell stakes in some units, including L&T EWAC Alloys and L&T Valves.

Coal India Ltd: Coal India on Tuesday announced appointment of five independent directors, filling five of seven posts that had been lying vacant for over a year.

Piramal Healthcare: Piramal Healthcare UK Ltd., has invested £2.0 million into Scotland to expand its manufacturing base at Grangemouth, to manufacture Antibody Drug Conjugates to global markets. This new investment into Scotland will yield additional revenue of £3-5 mn over 5 years to Piramal Healthcare’s revenues.

Ramco Systems: ITC Infotech and Ramco Systems have formed a strategic partnership, which will enable the former to strengthen its aviation capablities and expand its expertise in the human capital management domain.

Persistent System: The company has announced that it has completed the acquisition of the digital content management solutions business of US-based Akumina. Persistent's Venture Captial arm also announced an investment of $250,000 in Akumina's product portfolio. 

Pipavav Defence and Offshore Engineering: The Reserve Bank of India has today notified that Registered Foreign Portfolios Investors (RFPIs)/Foreign Institutional Investors (FIIs)/Qualified Foreign Investors (QFIs) can now invest up to 12 per cent and Non Resident Indians (NRIs)/ Persons of Indian Origin (PIO) up to 2 per cent of the paid up capital of Pipavav Defence and Offshore Engineering Limited under the Portfolio Investment Scheme (PIS).

SpiceJet: SpiceJet is in talks with aircraft manufacturers to place orders for at least 150 new planes, Chairman Ajay Singh has been quoted as saying by a business daily.

HCL Technologies: The IT company has signed an application development and maintenance contract with Deutsche Bank.

Novartis: The pharma company reportedly said it has taken remedial action at its two plants in Western India which had received a warning letter from the US health regulator.

MEP Infrastructure: The company has bagged two short-term toll collection contracts from the National Highways Authority of India (NHAI) for one year, namely Surjapur toll plaza in West Bengal and Dasna toll plaza in Uttar Pradesh.