Top stocks in focus: Dr. Reddy’s, Yes Bank, Coal India, Unitech, Prestige Estates

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

Feb 20, 2019 07:02 IST India Infoline News Service

Buy Hold And Sell Dice Represents Stocks Strategy
The US Supreme Court Chief Justice John Roberts rejected Indivior’s bid to protect Suboxone film, the company’s treatment for opioid addiction. The court also refused to block Dr. Reddy’s Laboratories and others from selling generic versions of Suboxone film, as per media reports.

Unitech, Prestige Estates, Indiabulls Real Estate stock in focus as GST Council meeting today may decide GST on real estate projects.

Yes Bank offered clarification on its decision to release parts of a confidential risk assessment report days after the Reserve Bank of India censured it for doing so. The bank also stated that it has not made any undue benefit by disseminating the information and was in due compliance.

Coal India, Vedanta stock in focus as CCEA approved the methodology for allowing the allocation of coal mines for specified end-use or own consumption, to 25% of actual production on run of mine basis in open market with payment of additional premium on such sale.

Redington India, MIRC Electronics, Dixon Technologies, Shivalik Bimetal Controls as Cabinet approved National Electronic Policy on Tuesday. IT Minister Ravi Shankar Prasad stated that the aim is to target $400bn by 2025 in electronic manufacturing.

Tata Power, Torrent Power stock in focus. Cabinet approved rooftop solar generation phase II to add 40,000 MW of solar power by 2022.

Vedanta clarified on news that the Supreme Court had revoked the National Green Tribunal’s order to open the company’s smelter and it will proceed to file a writ petition before the high court. The company also stated that it is not in the process of submitting any revised bid for Essar Steel.

Maharashtra Seamless made payment of Rs477cr for the acquisition of United Seamless Tubulaar as per the insolvency resolution process as approved by the NCLT.

Reliance Power clarified on the news that lenders won’t sell ADAG group stocks till Sept. 30 stating that information relates to the promoter group and not the company.

JK Tyre & Industries appointed Sanjeev Aggarwal as CFO of the company with effect from February 18.

Prism Johnson issued letter of intent for an EPC contract to set up a 22 MW power generation system in Madhya Pradesh. This system would require an investment of Rs200cr and would be commissioned by June 2020.

Sanofi clarified on the news of High Court quashing the case against the company. The said litigation pertains to honorarium paid by the Company to a doctor in relation to patient education initiatives. The company says that the litigation is not a material event.

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