Stocks to watch: Lakshmi Vilas Bk, RIL, JSW Energy, Voda Idea, Surya Roshni
By Administrator_India
At 08:38 AM, Nifty futures on the Singapore Exchange (SGX) traded 73 points, or 0.66 per cent higher at 11,105, indicating a positive start for the Indian market on Monday.
Here’s a list of stocks that may trade actively in today’s session.
RIL: Reliance Industries Ltd (RIL) on Saturday said it has received Rs 7,500 crore from US private equity firm Silver Lake Partners, which has picked up 1.75 per cent stake in its retail arm.
Lakshmi Vilas Bank: A large section of shareholders of ailing Lakshmi Vilas Bank (LVB) voted against the reappointment of the managing director and chief executive, as well as seven directors and auditors, at the recent annual general meeting (AGM).
JSW Energy: JSW Energy on Friday said its subsidiary, JSW Solar, received letter of awards for total blended wind capacity of 810 MW from Solar Energy Corporation (SECI).
Nalco: National Aluminium Company Ltd (Nalco) on Friday said it has entered into a pact with Numaligarh Refinery Ltd for long-term supply of calcined petroleum coke to ensure raw material security. The memorandum of understanding (MoU) was signed on Thursday, Nalco said in a BSE filing.
Vodafone Idea: The Indian government will contest the Vodafone arbitration award, but it will also reach out to international pension and insurance funds keen to invest in the country in order to reassure them, said a top official source. On Friday, Vodafone International Holdings B.V., the parent company of India’s beleaguered Vodafone Idea, won an award in an international arbitration tribunal in The Hague against tax demands made by India.
Hero MotoCorp: Harley-Davidson Inc is in advanced talks with India’s Hero MotoCorp for a distribution deal which will allow the US firm’s iconic motorcycles to be sold in India, after it stops local manufacturing there, three sources told Reuters.
Surya Roshni: The company has obtained orders aggregating to Rs 272.86 crore (excluding GST) for the supply of Coated API Line Pipes to GAIL (India) and Indradhanush Gas Grid (IGGL) for North-East Gas Grid Pipe Line project.
NTPC: State-owned NTPC, India’s largest power generator, has dropped its plan to buy out Reliance Infrastructure stake in two power distribution licence areas in Delhi. The power retailing rights are currently controlled by joint ventures of Reliance Infrastructure and the state government.
Dr Reddy’s: Dr Reddy’s Laboratories on Saturday said it has launched Dimethyl Fumarate delayed-release capsules, used to treat multiple sclerosis (MS), in the US market. The company’s product is a therapeutic equivalent generic version of Biogen’s Tecfidera delayed-release capsules, the Hyderabad-based drug firm said in a statement.
Grasim Industries: Life Insurance Corporation (LIC) of India has purchased 1.33 crore equity shares (2.033% equity) of Grasim Industries. Following the transaction, LIC has increased its shareholding in Grasim Industries to 11.86 per cent from 9.83 per cent earlier. The transaction took place through open market purchases between 14 May 2019 and 24 September 2020.
Thomas Cook: In a regulatory filing, the company informed that the company’s board has approved the withdrawal of the buyback.
Escorts: Escorts Limited (EL) has been informed by Escorts Kubota India Private Limited (EKI) – a 60:40 Joint Venture between Kubota Corporation, Japan and Escorts Limited, that they have started the commercial production of Kubota Tractors from today i.e. September 25, 2020.
PVR, Inox Leisure: Cinema halls and open air theatres will be allowed to operate in West Bengal from October 1 with limited number of participants, Chief Minister Mamata Banerjee said on Saturday.
Indoco Remedies: The drug maker on 26 September 2020 announced the launch of Fevindo (Favipiravir) 400 mg tablets in India. Fevindo-400 (Favipiravir) is an antiviral drug, effective against the RNA‐based influenza virus. The drug has been approved by DCGI in the treatment of Covid-19.
Bank stocks will remain in focus today as the Supreme Court is set to resume hearing in the loan moratorium and interest waiver case.
