Top stocks in focus: SBI Life, Apollo Hospital, Alkem Lab, Reliance Capital

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

Sep 12, 2019 07:09 IST India Infoline News Service

Stocks In Focus
SBI Life Insurance stock in focus as SBI’s board has approved an offer-for-sale of at least 3.5% stake—or 3.5cr shares—in SBI Life Insurance Company Ltd., with an option of oversubscription of 1%. The floor price for the sale has been set at Rs770 per share—a discount of 4% to today’s closing price of Rs799.65.

Alkem Laboratories received four Form 483 observations from the USFDA for its manufacturing facility in St.Louis, US. The company said that the inspection has been closed by USFDA now.

Apollo Hospitals founder Sunitha Reddy to sell 50 lakh shares up to Rs725cr. Floor price is set at Rs1,450 per share, which is at discount of 3.2% as per current market prices, according to the media reports.

Adani Group has appointed MSTC as selling agent to sell all surplus inventory and equipment for the entire Group.

Globus Spirits promoters have deferred company’s convertible warrants allotment plan. The promoters plan to consider subscription of the warrants at a later stage and the company will seek for fresh special resolution from shareholders.

Reliance Capital to exercise the over-subscription option 3.15% stake sale, in addition to the base sale of 3.15% of equity shares, aggregating to 6.3% of Reliance Nippon Life Asset Management.

HDFC has proposed to raise up to Rs5,000cr via issue of bonds.

Texmaco Rail & Engineering board to consider various matters regarding the rights issue on Sept. 13.

SREI Infra Finance said in the press note that Brickworks Ratings downgraded instruments worth Rs5,327cr. Non-convertible debentures downgraded to ‘BWR A+’ from ‘BWR AA’, with outlook remaining negative.

Walchand Nagar Industries has entered into an agreement with Indian Space Research Organisation to supply equipment for GSLV Launch Vehicle for a contract value of Rs77.2cr.

Central Bank of India said that tribunal has set aside Securities and Exchange Board of India’s monetary penalty order of Rs3 lakh for violations of Debenture Trustee regulations.

Allahabad Bank to consider amalgamation of the Bank with Indian Bank on Sept.16.

Reliance Nippon AMC: Shares offered by Reliance Capital received a demand of 1.32 times from the non-retail category on day one. The offer for sale will open today for retail category

Andhra Bank to consider merger proposal with Union Bank and Corporation Bank on Sept. 13.

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