Top stocks in focus today: M&M, Reliance Communications, IVRCL
RIL-owned Reliance Jio Infocomm has emerged the front-runner to acquire the assets of debt-ridden Reliance Communications. The company are said to meet as early as this week to decide on converting part of the debt owed to them into equity.
Bharti Airtel says Tanzanian government said Airtel’s local unit belongs to state-owned Tanzania Telecommunications Company.
Bharat Petroleum stock in focus today. Government is yet to take a decision on BPCL’s proposal to integrate with GAIL India or Oil India, Oil Minister Dharmendra Pradhan said.
IVRCL entered into a pact with Cube Highways and Infrastructure to sell two arms for Rs730cr.
Coal India is looking to buy stake in overseas coking coal mines.
SEBI ordered a forensic audit of Pincon Spirit.
HDFC sold a 6.3% stake in Computer Age Management System (CAMS) to Warburg Pincus for Rs210cr as part of the American private equity fund’s deal to purchase a significant minority stake from all the shareholders of the company.
Srikalahasthi Pipes’ QIP opens at a floor price of Rs379.3 per share.
Kridhan Infra QIP opens at a floor price of Rs102.82 per share.
The Reserve Bank of India has imposed certain restrictions on Bank of India and United Bank of India due to a sharp rise in non-performing loans and erosion in capital. On Wednesday, both banks said that RBI triggered prompt corrective action (PCA) wherein the regulator monitors their performance.
Textile stocks in focus today. Cabinet approves a Rs1,300cr programme for the textile sector.
Pidilite to consider share buyback on Dec. 26.
SQS India says Assystem Services made an open offer to acquire 27.82 lakh shares, or 26% stake at Rs 475.27 each.
Varun Beverages to acquire PepsiCo India’s franchised sub territory in Jharkhand.
DPSC two day offer for sale starts today.
Balkrishna Industries ex-date for 1:1 bonus. F&O lot size revised to 800.
Castrol ex-date for 1:1 bonus. F&O lot size revised to 2,800.
M&M ex-date for 1:1 bonus. F&O lot size revised to 1,000.
Vakrangee ex-date for 1:1 bonus.
General Insurance Corp has received approval to set up a syndicate at Lloyd’s of London. The development is seen helping GIC Re broaden and diversify its international portfolio.
Ashish Kacholia on Wednesday sold 1.5 lakh shares or 0.9% stake in Lokesh Machines at Rs73.8 per share. Kacholia held 2 lakh shares, or 1.17% stake, in Lokesh Machines at the end of the September quarter, while Sushmita Ashish Kacholia held 7.75 lakh shares, or 4.55% stake, in the company.