Top stocks in focus: Sun Pharma, Coal India, Reliance Industries

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

Aug 13, 2019 02:08 IST India Infoline News Service

Stocks to watch
Reliance Industries and Saudi Aramco signed a non-binding letter of intent to acquire 20% stake in the company’s oil and chemicals division, which is the value at $75 billion. RIL’s telecom unit—Reliance Jio Infocomm Ltd. has agreed to ally with Microsoft Inc. to accelerate digital transformation with the launch of new cloud data centres.

Avenue Supermarts Promoter Radhakishan Damani has completed the sale of 62.3 lakh equity shares on August 9 to achieve minimum public shareholding as per Securities and Exchange Board of India norms.

Bharti Infratel board approved dividend for Rs3.65 per share with record date set as Aug. 23.

Vedanta’s Anil Agarwal said he will not pursue Jet Airways, as per media reports.

White Oak Capital Management decreased its stake in NIIT Tech from 7.52% to 1.04% via off-market transaction on Aug. 8. HDFC MF decreased its stake from 7.04% to 4.33% on Aug. 8 via the open market.

Indoco Remedies’ Clinical Research Organization received zero form 483 observations from USFDA.

Strides Pharma Science Received zero form 483 observations by the USFDA on inspection of its Alathur Facility.

Fidelity Group increased stake in Shriram Transport Finance from 7.05% to 7.1%.

USFDA classified inspection conducted at Torrent Pharma’s Indrad facility in April as Official Action Initiated.

PC Jeweller said that it will not pursue a demerger of export business and this segment is on a decline and in another two to three years the weightage of the same in the total turnover will get limited to single-digit figure only. 

JSW Steel July crude steel production down 4% to 13.17 lakh tonne. Flat-rolled products down 8% to 9.08 lakh tonne. Long rolled products up 3% to 3.16 lakh tonne.

Balkrishna Industries’ board has decided to put $100 mn investment in its greenfield tyre project in the US in abeyance due to a challenging business environment.

Sintex Plastics Technology plans to sell its entire stake in its arm to Xtech Invest SAS for Euro 155 million.

Atul Auto’s board decided not to enter the joint venture agreement with JBM Industries due to uncertainties in Electric Mobility policies.

Reliance Infra, Reliance Power Statutory auditors BSR and Co. resigned citing reason stated in the qualified opinion of their audit report dated June 8, 2019, for the previous financial year.

Cox and Kings have achieved standstill for 180 days as per inter-creditor agreement. The company’s UK arm has declared insolvency. The travel company has also withdrawn the proposal to give a dividend of Rs1 per share citing the current financial conditions of the company.

IRB Infra Developers arm completed concession period of Mumbai Pune project on Aug. 10

Redwood Investment acquired 6% stake in AU Small Finance Bank via encumbrance of share pledge.

AIA Engineering’s trial of mill lining process in Africa’s gold mine has been successful. With this expansion, the total installed capacity to wear parts of the Group will be augmented from 340,000 million tonnes to 390,000 million tonnes per year.

Praj Industries has entered into a co-operative agreement with Dedini to provide ethanol production technologies to the Brazilian market.

Gujarat Alkalies and Chemicals has restored all the operation of balance plants at Dahej Plant.

Results today: Coal India, ONGC, Sun Pharma, Power Finance Corporation, NALCO, NMDC, Rain Industries, Godrej Industries, Manappuram Finance, Apollo Hospitals, Glenmark, Bosch, Chalet Hotels, Dr Lal Path Labs, Info Edge, IPCA Laboratories, Bharat Forge, Blue Star, RITES.

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