Top stocks in focus: Indiabulls Housing Finance, Bharti Airtel, Torrent Pharma, Dixon Technologies

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

Oct 10, 2019 02:10 IST India Infoline News Service

Stocks In Focus
The proposed merger of Lakshmi Vilas Bank and Indiabulls Housing Finance failed to receive approval from the Reserve Bank of India, the bank said on Wednesday in a statement to stock exchanges.

Bharti Airtel has raised $750 million (about Rs5,330cr) from investors based in Asia, Europe and the US through a hybrid financial instrument. The proceeds shall be used for refinancing, investments in subsidiaries and general corporate purpose.

Torrent Pharma received a warning letter from the US drug regulator for its Indrad, Gujarat facility, barring fresh approvals from its largest unit that contributes bulk of its sales in the American market. The warning letter follows the August “official action indicated” by the USFDA, according to the drugmaker’s exchange filing. The status pointed to potential regulatory and administrative action.

Indiabulls Housing Finance to consider share buyback plan on Oct. 14.

RBI denied request of Bank Of Maharashtra to set off accumulated losses of Rs7,360cr.

Transformers & Rectifiers received a Rs126cr order from Power Grid.

ICRA assigned A1+ rating to Dixon Technologies' enhanced commercial paper (CP) programme.

Brickwork Ratings India reaffirmed credit rating of Vimta Labs for the bank loan facilities of Rs50.33cr.

CARE revised credit rating on Rama Steel Tubes' long term bank facilities to BBB-/Stable from BBB/Negative.

Reliance Infrastructure has appointed Anmol Ambani and Anshul Ambani as non-executive directors with effect from Oct. 9. Besides, Lt. Gen. Syed Ata Hasnain (Retd) inducted onto the Board as Independent Director.

Reliance Industries: Forced by regulatory uncertainty over review of sunset clause for call termination charges, Mukesh Ambani's Reliance Jio Infocomm Ltd. on Wednesday announced it will charge customers 6 paise per minute for voice calls made to rival phone networks, but will compensate them by giving free data of equal value.

Union Bank of India's Board approved preferential issue of equity shares aggregating up to Rs11,768cr to the Government of India. Board to approve the new issue price on Oct. 14.

Ashok Leyland to observe non-working days between 2-15 days in all plants in October.

Sintex Industries defaulted in payment of interest on non-convertible debentures worth Rs5.92cr which were due on Oct. 8.

DCB Bank revised its Marginal Cost of Funds based Lending Rate across various tenors with effect from Oct. 10. One-month MCLR is at 8.87% and one-year MCLR is at 10.47%.

Future Retail to consider raising funds on Oct. 12.

Hester Biosciences said that its Nepal unit’s PRR vaccine has been started to be marketed through Nepal’s distributors and private market channels. The unit has received manufacturing license for the Classical Swine Fever vaccine, for which registration is ongoing in a few South East Asian countries.

Indian Overseas Bank fixed Bank’s Repo Linked Rate at Repo Rate plus markup aggregating to 8% with effect from Nov 1.

Coffee Day Enterprises said that promoters hold 25.35% stake in the company, out of which 79.94% of the promoter’s stake is pledged, which is roughly about 4.28 crore shares.

Transformers & Rectifiers received orders worth Rs126cr from Power Grid Corporation. Order book as on date stands at Rs1,001cr.

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