Stocks in Focus on December 1: Kesoram Industries, ICICI Lombard, Glenmark Pharma, Tata Consumer, Dr Lal PathLabs; here are the 5 Newsmakers of the Day

The key equity indices ended a volatile session with small losses on Friday, November 27, 2020, although the global stocks were up. The S&P BSE Sensex fell 110.02 points or 0.25 per cent at 44,149.72. The Nifty 50 index declined 18.05 points or 0.14 per cent at 12,968.95. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, December 1, 2020. List of such five stocks:

Kesoram Industries: The “Fund Raising Committee” and the Board of Directors of Kesoram Industries Ltd have approved the issuance of Non-Convertible Debentures (NCD) and/or Optionally Convertible Debentures (OCD) aggregating up to Rs 2,200 crore on a private placement basis. Further, as part of the Resolution Plan approved in principle pursuant to the RBI Circular of June 7, 2019, issued for providing the framework for resolution of stressed assets, conversion of the existing loan into Equity Shares up to Rs 100 crore, and loans up to Rs 500 crore will be converted into Zero Coupon Optionally Convertible Redeemable Preference Shares (OCRDPS). 

ICICI Lombard: The Insurance Regulatory and Development Authority of India (IRDAI) has approved the in-principal acquisition of General Insurance business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited. Based on the share exchange ratio recommended by independent valuers, shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA. 

Glenmark Pharma/ Dr. Reddy's: Dr. Reddy’s Laboratories Ltd has announced that it has entered into a definitive agreement with Glenmark Pharmaceuticals Ltd. to acquire select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan.

Coffee Day/ Tata Consumer: Tata Consumer’s bid to buy the Coffee Day Group’s beverage vending machine business has hit a roadblock as two lenders, namely Yes Bank and Rabobank, have demanded repayment of their entire dues for granting a no-objection certificate (NOC) to the proposed deal. Tata Consumer Products Ltd has proposed to buy the coffee vending business from Coffee Day Global Ltd (CGDL) for Rs 1,000 crore. 

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Thyrocare/Dr Lal PathLabs/ Metropolis: Delhi Government has slashed the price of RT-PCR tests – the gold standard for detecting COPVID-19 – to Rs 800 in the city from Rs 2,400.