Top stocks in focus: DHFL, ICICI Bank, Yes Bank, Endurance, Wipro

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Mar 06, 2019 02:03 IST India Infoline News Service

Stocks to watch
Five banks faced a total penalty of Rs10cr from the Reserve Bank for non-compliance with various directions. Bank of Baroda, ICICI Bank, Yes Bank, and Canara Bank have been penalized by the central bank for not complying with directions on global transaction messaging software Swift. Allahabad Bank was fined for non-compliance of directions with regard to Nostro accounts.

DHFL stock in focus today. Auditor did find some lapses in relation to pre-sanction due diligence and in the monitoring of post disbursal end use of funds by the borrowers. The auditor does not find merit in allegations of loans said to be part of the Sahana group and/or Wadhawan group.

Bank of Maharashtra stock in focus. RBI levied a penalty of Rs2cr delayed implementation of SWIFT-related operational controls.

Endurance Technologies’ promoter said it will sell 63.6 lakh equity shares or 4.52% equity with a greenshoe option of additional 41.9 lakh equity shares or 2.98% equity to non-retail investors on March 6 and retail investors on March 7. The floor price for the offer for sale is set at Rs1,100 – a discount of 12.6%.

Wipro stock will trade ex-bonus (1:3) from today. Revised market lot for Futures & Options contracts would be 3,200.

Sun Pharma stock in focus today. Raksha Valia on a net basis pledged additional 95.6 lakh equity shares with Citicorp. Shanghvi Finance released a pledge on 11.7 lakh equity shares.

Grasim Industries signed a definitive agreement with Soktas India Pvt Ltd. for an enterprise value of Rs165cr.

Indian Energy Exchange stock in focus. On an all-India basis, the energy supplied in February 2019 at 95 BU (billion units) registered a marginal increase of 3% from 92 BU compared to last year. The electricity market at IEX traded 2,879 MU (million units) in February registering a decline of 15% over 3,343 MU last year.

Quick Heal Technologies to buyback 63.6 lakh equity shares or 9.02% equity at Rs 275 per share. The total buyback is worth Rs175cr, i.e., 23.87% of net worth.

Reliance Capital stock in focus. ICRA downgraded the company’s short-term debt programme rating by one notch to A1 with negative implications from A1+. The downgrade was due to refinancing risk of short term maturities and delay in monetizing the noncore investments. The company considers the rating action completely unjustified and inappropriate.

HCC promoter pledged additional 78.16 lakh equity shares or 0.52% equity with IDBI Trusteeship.

Blue Star’s B Thiagarajan was elevated to the position of Managing Director with effect from April 01, 2019. He earlier served as the Joint MD of the company.

GATI lenders invoked 26,000 shares pledged by promoters on Feb. 28.

Edelweiss Financial Services stock in focus. CDPQ to invest over Rs1,800cr into ECL Finance, the NBFC arm of Edelweiss.

Bosch announced an extinguishment of equity shares with respect to the buyback of 10.27 lakh fully paid-up equity shares of face value of Rs10 each.

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