13 stocks in focus today: Hero MotoCorp, Jindal Stainless, Coal India and more
The BSE Sensex and NSE Nifty opened in positive terrain on Thursday following firm global cues. At 9.20 am, Sensex was trading 164.01 points up at 25,646.53. NSE Nifty was trading 48.05 points up at 7,779.85.
Below are the stocks that are likely to be in focus today
Dr Reddy: Shares of Dr Reddy’s Labs were trading 1.61 per cent down at Rs 3321.10. The scrip fell as much as 7 per cent intraday on BSE after the US law firm Lundin Law makes class action appeal over allegations of misleading statements from the Indian drugmaker.
Religare Enterprises: Shares of the company were trading 1.86 per cent down at Rs 272.00 in afternoon trade after the company decided to exit mutual fund business with sale of its controlling 51 per cent stake in Religare Invesco AMC to the foreign partner Invesco.
Hero MotoCorp: Share price of the company jumped as much as 2 per cent in the early trade after the world’s largest two-wheeler manufacturer reported over 10 lakh units in retail sale during the festive season this year.
Jindal Stainless: Shares of the steel company fell after the company planned operational and financial restructuring in a bid to cut its Rs 8,580 crore of debt by 64 per cent. The company will trim its debt through improved cash flow, reduction in interest cost and operational efficiencies.
Eros International Media: Share price of the company jumped as much as 5 per cent intraday on reports that the company may go for a share buyback.
Coal India: Government on Wednesday approved 10 per cent stake sale in state-owned Coal India Ltd, a move that could fetch around Rs 20,000 crore to the exchequer.
Aurobindo Pharma will seek approval from its shareholders for an enabling resolution to raise up to USD 600 million (around Rs 3,974 crore) via issue of securities.
Suzlon Energy: The company on Wednesday said that it has issued 1.55 crore equity shares on conversion of 4,000 bonds worth $546.91 million.
GMR Infrastructure: GMR Group on Wednesday said it will get higher electricity tariff for its Kamalanga power plant in Odisha after the Central Electricity Regulatory Commission (CERC) gave a favourable ruling.
Tata Consultancy Services: The software major on Wednesday launched a new Center of Excellence for Internet of Things solutions in collaboration with Intel.
NTPC: Moody’s Investors Service on Wednesday said state-run NTPC will benefit from improving operating environment for India’s power sector and revival scheme UDAY for debt-ridden distribution companies.
Waterbase: The company has considered and accepted the one time settlement (OTS) approval received from Canara Bank for settling all the outstanding dues. As per the terms of the OTS, the company shall settle the dues to Canara Bank by paying Rs 7.80 crore, which includes interest.
Cairn India: Cairn India has reduced its capital expenditure programme for the current financial year by 40%, a move that could accelerate the fall in output from the country’s largest onshore oil block at Barmer in Rajasthan.
Read full article: Financial Express
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