Stocks to watch: HDFC Bank, RIL, RBL Bank, Adani Enterprises, Raymond

Nifty futures on SGX were trading 39.50 points higher at 17,895 around 8.30 am, indicating a firm start for the benchmark indices on Tuesday.

Here are the top stocks that are likely to be in focus today:

HDFC Bank: on Monday said it has raised Rs 5,000 crore by issuing bonds on a private placement basis. “The bank has issued and allotted today on a private placement basis 6.44 per cent (coupon rate) unsecured redeemable long term fully paid up non-convertible bonds in the nature of debentures (NCDs) amounting to Rs 5,000 crore,” said in a regulatory filing.

BPCL: The disinvestment of Bharat Petroleum Corporation (BPCL) is intended to be completed by March 2022 according to company Chairman, Arun Kumar Singh. Further, BPCL plans to invest over Rs 1 lakh crore over the next five years in raising petrochemical production capacity, gas business, clean fuel and augmenting marketing infrastructure,

Lupin: Pharmaceutical major Lupin is foraying into diagnostics to leverage its ‘doctor-connect’ to tap a sector that has low entry barriers, gives high returns on capital employed, and is witnessing double-digit growth. A formal launch is expected next month, sources in the know said. Lupin Diagnostics will be a part of Lupin Healthcare, a 100 per cent subsidiary of Lupin. READ MORE

Whirlpool of India: Consumer durables maker Whirlpool of India Ltd on Monday said it has inked a pact to acquire an additional 38 per cent stake in Elica PB India for USD 57 million (around Rs 420 crore).

Omaxe: Realty firm Omaxe Ltd on Monday announced the appointment of Sunil Goel, brother of its chairman and MD Rohtas Goel, as additional director (executive), signalling a truce between the warring brothers.

REC: State-owned REC has got shareholders’ approval to raise up to Rs 85,000 crore through issuance of non-convertible bonds or debentures.

Power Grid: State-owned Power Grid Corporation of India Ltd (PGCIL) has received shareholders’ approval to raise up to Rs 6,000 crore through bonds or debentures on a private placement basis.

Finolex Cables: Even as proxy advisory firms have flagged corporate governance issues at Finolex Cables and also advised shareholders to vote out three directors at the annual general meeting slated for Tuesday, the company publicly accused Prakash Chhabria, the cousin of Deepak Kisandas Chhabria, of instigating shareholders and creating the controversy.

Jaypee Infratech: The National Company Law Tribunal (NCLT) will on Tuesday hear the plea for approval of the Suraksha group’s bid to acquire debt-ridden realty firm Jaypee Infratech. The matter is listed before the Delhi-based Principal bench of the tribunal.

Raymond: Fabrics and garments major Ltd on Monday said its board has approved a consolidation exercise, including the combination of its tools and hardware, and auto components businesses with its engineering business to improve synergies and explore monetisation options.

Adani Enterprises: Adani Airport Holdings, a wholly owned subsidiary of Adani Enterprises, will acquire a majority stake in April Moon Retail Pvt Ltd (AMRPL) for a strategic partnership to operate duty free outlets at ariports. AAHL will acquire a 74 per cent stake in the venture for Rs 7.40 lakh, said in a regulatory filing on Monday.

Shyam Metalics: The company said it will invest Rs 850 crore in the current fiscal as part of its Rs 2,960-crore capital expenditure plan to double its steel-making capacity and foray into the aluminium foil sector.

RIL: The company is in talks to buy a stake in Glance InMobi Pte, according to a Bloomberg report. is considering investing about $300 million in the unicorn backed by Alphabet Inc.’s Google.

RBL Bank: RBI has imposed Rs 2 crore penalty on the bank for contravention of norms on maintaining deposits and guidelines governing appointment of directors on board. had opened five savings deposit accounts in the name of a cooperative bank, RBI said. Report for inspection of supervisory evaluation for FY19 revealed non-compliance.

Cyient: The company was recently recognized by Amazon Web Services as a Select-Tier Consulting Partner in the AWS Partner Network.

Indian Metals & Ferro Alloys: ICRA has upgraded the rating of the company for the long term and short term loan facilities to A+ from A and to A1+ from A1 respectively. The outlook also has been revised to “Positive” from “Stable”.

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