Cipla, Axis Bank, PNC Infratech, RailTel, Glenmark Pharma are in Focus

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Domestic markets will likely snap a four-day losing streak and turn positive on Wednesday, as global market sentiment improved on a US inflation report.

At 7:00 am, the SGX Nifty was trading at 17,210, up more than 98 points.

Globally, US markets edged higher overnight after annual US consumer inflation fell to 6% in February. The Dow, Nasdaq Composite and S&P 500 rose 2%.

Cipla: The pharmaceutical giant signed an agreement with Africa Capitalworks to sell a 51.1% stake in Uganda-based Cipla Quality Chemical Industries (CQCIL). After the sale, CQCIL will no longer be a subsidiary of the parent company Cipla. The proposed sale is expected to close by the end of May.

HCC: The construction company and a joint venture with Megha Engineering & Infrastructures have secured the Rs 3,681 crore project to construct the Bullet Railway Station. The contract was awarded by National High-Speed ​​Rail Corporation Limited (NHSRCL) for the construction of the Bandra Kurla Complex station of the Mumbai-Ahmedabad High-Speed ​​Rail.

HPCL: The company signed an agreement with Chevron Brands International LLC to manufacture, distribute and market lubricants for the hypermarket. Management said the collaboration includes licensing, manufacturing, distribution, and marketing of Chevron’s lubricant products.

Axis Bank: Rating agency CRISIL Ratings reiterated its “stable” rating on the private sector lender’s debt instruments. The rating agency said the overall rating reflects the bank’s strong capital position, strong market position and good resource profile.

PNC Infratech: The company have been declared the lowest bidder (L1) in NHAI’s highway project to build a six-lane greenfield Varanasi-Ranchi-Kolkata highway from Pachmon village to Anarbansaliya village in Bihar on HAM for Rs 1,260 crore.

RailTel Corporation: The company has secured a work order of Rs 2,875 crore from the Advanced Computing Development Centre (C-DAC) for the supply, installation, testing, integration and commissioning of IT infrastructure for greenfield data centres in New Delhi and Bengaluru.

LIC: The life insurer said it had promoted company executive director Tablesh Pandey to managing director. Pandey will succeed current Managing Director B C Patnaik.

Glenmark Pharma: USFDA approved the pharmaceutical giant to sell a generic antibiotic drug called clindamycin hydrochloride capsules in 75 mg, 150 mg and 300 mg capsules.

NBCC (India): The company has secured a Rs 500 crore work order to build a government medical college and hospital in Karaikal, Pondicherry.

Balu Forge Industries: The company received a trial order to supply powertrain subassemblies to a tractor manufacturer outside the Middle East. These components will be used to produce the engines that power a variety of tractors.

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