Top 10 stocks for today

27 Jun 2022 , 09:26 AM

Here are the top 10 stocks in news today:

1. Dr.Reddy’s Labs:

From the US-based Eton Pharma, Dr Reddy’s Labs purchased their line of branded and generic injectable products. It paid the Eton’s portfolio a $5 million cash down payment upfront, plus potential future payments of up to $45 million.

1. Axis Bank:

Rajiv Anand has been reappointed as the deputy managing director of Axis Bank, with the Reserve Bank of India’s approval. Three years will elapse during the reappointment.

1. GE T&D India:

Long-term credit rating is downgraded by ICRA. Due to a downturn in the firm’s financial performance, ICRA has lowered the long-term rating of the fund-based and non-fund-based facilities of the company from A+ to A with a negative outlook.

1. Zomato:

The Zomato board authorizes the all-stock acquisition of Blinkit Commerce. The meal delivery business announced to markets that the board approved purchasing up to 33,018 equity shares of the rapid commerce company Blinkit (formerly known as Grofers India) for Rs4,447.48 crore in an all-stock transaction. The purchase price is Rs13,46,986.01. Its investment approach in the rapid commerce industry is consistent with this acquisition.

1. Autolite:

The board of Autolite will be given permission to sell off non-performing assets. The board will be given permission to sell the land, building, undertaking, and other non-performing assets because the company has opted to restructure its business (NPA). The board will also have the authority to form joint ventures for business or the real estate industry with interested parties and to take any other actions that may be required for the recovery of the industry.

1. CSB Bank:

Bhama Krishnamurthy is appointed as the temporary chair of CSB Bank. The board has nominated Bhama Krishnamurthy to serve as the bank’s part-time chairwoman, the bank stated in its BSE filing. The Reserve Bank of India must approve this appointment.

1. Federal Bank:

On June 30, Federal Bank will take into account fundraising. The board will meet on June 30 to discuss plans for generating money through the issuing of securities, according to the private sector lender. The board will also think about calling a general meeting to ask shareholders for their support of ideas for cash-raising.

1. Welspun Corp:

Welspun Corp receives orders of Rs600 crore. The company has received numerous orders totaling 47,000 MT and Rs600 crore rupees. These orders will be carried out in the oil & gas and water sectors from India and the USA. These include receiving a request for the delivery of coated onshore pipes and bends for an Australian pipeline project.

1. Gufic Biosciences:

Gufic Biosciences’ credit rating has been upgraded by ICRA. ICRA has raised the company’s short-term rating from A3+ to A2 and its long-term rating from BBB to BBB+ with a stable outlook.

1. SIS:

On June 29, SIS will review a share buyback proposal. The company announced that the board will meet on June 29 to discuss the proposal for the buyback of the company’s equity shares.