Stock Cash Tips - Nifty closed 13 points higher at 8,127. Today, we expect the markets to open FLAT with on the back of global indices.

US Markets closed ended the day on a negative note. Dow closed 0.3% down while Nasdaq lost 0.6%.U.S. stocks fell the most in four weeks as investors speculated that gains sparked by expectations for brisker economic growth under a new administration went too far too quickly. US markets, today, Prelim GDP q/q, CB Consumer Confidence, FOMC Member Powell Speaks.

Asian markets are trading on a subdued note; Nikkei is trading 0.2% down, while Hang Seng is trading 0.1% higher. SGX Nifty is trading 9 points higher at 8,159. Indian ADR sended the day on a mixed note. Among financial ADRs, ICICI Bank closed 0.3%down, while HDFC Bank lost 1.2%. Among IT ADRs, Wipro fell 0.1%, while Infosys closed flat. Tata Motors ADR fell 0.7%.

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Stocks of the Day:

Oil India Q2 net dips 18% to Rs 580 crore: Sadbhav Engineering Ltd posted 33 per cent decline in net profit at Rs 18.5 crore for the quarter ended September 30, 2016. The company had posted a net profit of Rs 27.7 crore in the corresponding quarter last fiscal. Total income from operations during July-September quarter declined to Rs 615.6 crore from Rs 745.9 crore in the year-ago period.

Natco receives US FDA approval for generic budesonide capsule:

Natco Pharma Limited has received final approval from the US Food and Drug Administration (FDA) for generic version of budesonide capsule (enteric coated) 3 mg. Natco and its marketing partner Alvogen plan to launch this product in the US immediately. According to IMS Health, Entocort EC capsule (3 mg) and its generic versions had US sales of approximately $ 370 million for twelve months ending December 2015.

Tata Steel UK selling Speciality business to Liberty:

Tata Steel UK has signed aletter of intent with the London-based international business group Liberty House to sell its Specialty Steels business for 100 million pounds (Rs 854crore/$124 million). Tata Steel UK has invested 1.5 billion pounds (Rs 12,798crore) over the last nine years and 85 million pounds this year covering arange of sustenance and improvement schemes. As the Specialty Steels business is independent of the pan-European strip products supply chain, its sale is in line with the restructuring strategy of the company’s UK portfolio.

Surana Solar bags 10 MW project contract from Paradip Port:

Surana Solar Ltd has been awarded an EPC and operations and maintenance contract for 10 MW solar power plants by Paradip Port Trust in Odisha. The project mandate includes EPC contract for design, engineering, procurement and supply and comprehensive operation and maintenance for 10 years of the 10 MW solar power project. While the EPC contract awarded is valued at Rs. 60.60 crore, the Operations and Maintenance works for 10 years will be worth Rs. 4.75 crore.

Nagarjuna Oil Refinery plans to sell entire stake in Nagarjuna Oil Corp:

Nagarjuna Oil Refinery Ltd will seek shareholder approval to sell its 46.78 per cent stake in Nagarjuna Oil Corporation, which is setting up a 6 million tone oil refinery in TamilNadu to Allied Machineries and Resources Holdings Inc (a Dubai-based fund). The company plans to sell 77.62 crore shares of 10 each for a consideration of 2.50 a share (194 crore).

Suzlon bags 50.4-MW project in AP:

Suzlon has bagged a 50.40-MWwind power project from a leading business house to be executed in AndhraPradesh. The project consists of 24 units of S95 90m tubular tower with a rated capacity of 2.1 MW. Located in the district of Anantapur of Andhra Pradesh, the project is scheduled for completion in March 2017. Suzlon will provide operation and maintenance for a period of 20 years.

Idea Cellular plans to sell 100% in tower arm for $1 bn:

Idea Cellular has put on block 100 percent stake in its tower arm, dropping its earlier plans to sell a minority stake in the business. The company is looking to sell 11,000 telecom towers for close to USD 1 billion. Company has reached out to America TowerCorp, Bharti Infratel and Brookfield for tower sale, and that it is likely to retain its stake in Indus Towers.

Appellate Tribunal stays CCI order against India Cements:

The Competition Appellate Tribunal has granted a conditional stay against the Competition Commission of India’s imposition of a Rs 187.48 crore penalty against India Cements Ltd. The condition on which the stay is granted is that the company shall, within one month from its order dated November 21, deposit 10 per cent of the penalty in the Registry of Tribunal in the form of a six-month fixed deposit.

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