Top 12 Stocks in Focus Today: Bharti Airtel, Reliance Infrastructure, Bank of India
Bank of India and Syndicate Bank: Both the banks has taken a cue from the Reserve Bank of India and reduced marginal cost of fund based lending rates (MCLR) in the range of 5bps to 10 bps.
Reliance Infrastructure: Reliance Infrastructure is in pact to sell its power transmission assets to billionaire Gautam Adani’s Adani Transmission, to raise funds to pare debt.
Bharat Electronics: The company plans to buy back 1.66 crore shares at a price of Rs.1,305 apiece. BEL fixed September 6 as record dates for the respective buybacks.
Bosch: Bosch plans to buy back 8.78 lakh shares at a price of 23,000 a share. Bosch had fixed September 27 as the record date.
Jindal Steel & Power Ltd: The company has defaulted on interest repayments to its bondholders due on September 30, 2016. Those NCDs had a coupon rate of 9.8% with about two-10 year maturities with banks, provident funds believed to be the investors.
Bharti Airtel Ltd: Bharti Airtel announced the launch of 4G data services in Gujarat as it rolls out services in Ahmedabad, thereby providing 4G in 17 circles across India.
UFO Moviez: UFO Moviez India Ltd informed BSE that the Company has filed an application of Scheme of Arrangement between UFO Moviez India Limited and Southern Digital Screenz India Pvt. Ltd., V N Films Pvt. Ltd., Edridge Ltd. and UFO International Ltd.
Hexaware Tech: The company has opened a new global delivery centre in Bucharest, Romania.
Alembic Pharmaceuticals: Alembic Pharma received the Establishment Inspection Report from the US health regulator for its formulation facility located at Panelav in Gujarat.
Jubilant Life Sciences: The company said its wholly-owned subsidiary has received approval from the Australian health regulator Therapeutic Goods Administration (TGA) for Lyophilised kit for the preparation of injection used for lung scan.
Vedanta: Vedanta said it will raise up to Rs.12.50 bn through issuance of non-convertible debentures (NCDs).
Premier Explosives: Premier Explosives Ltd has announced that it has bagged a Rs278mn order from Bharat Dynamics Ltd.