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Top stocks in focus today: Infosys, Electrosteel Steels, Apollo Micro Systems

Telecom stocks in focus today as Telecom Commission has decided to relax spectrum holding caps, giving a boost to M&As and spectrum sale, as carriers try to sell assets, including airwaves, to repay debt.

Infosys announced the successful conclusion of an advance pricing agreement with the US Internal Revenue Services (IRS). Under the APA, the company and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the company’s US operations.

The board of Power Grid Corporation of India has accorded investment approval for ‘Transmission System for Ultra Mega Solar Power Park at Tumkur (Pavagada), Karnataka Phase II Part C’ at an estimated cost of Rs92cr with commissioning a schedule of 20 months from the date of investment approval.

Electrosteel Steels received resolution plans from Tata Steel, Vedanta, Edelweiss ARC and Renaissance Steel.

Apollo Micro Systems IPO opens today. The company has fixed a price band of Rs270-275 per share for its offering.

Institutional investors put in bids worth Rs976cr on Tuesday for buying government’s part stake in NMDC.

Whirlpool to lift fridge output capacity with Rs182cr outlay.

Coal India hikes prices, power producers see rise in tariffs.

RInfra moves MERC for sale approval of Mumbai power business to Adani Transmission.

Motherson Sumi forms JV with Ossia, to invest $14million.

IL&FS Technologies bags Rs200cr surveillance project contract.

ALPS Industries has sold the entire stake in its subsidiary, Snowflakes Meditach, for Rs61 mn to Radix Investment and Leasing.

Apollo Tyres will invest around Rs1,800cr on a new plant in Andhra Pradesh, the company’s seventh facility globally, to cater to the rising demand for passenger vehicle tyres.