Here is the list of top 10 stocks that will be in focus today:
Mahindra & Mahindra Financial Services: The Reserve Bank of India (RBI) on Thursday barred Mahindra & Mahindra Financial Services from carrying out recovery or repossession activity through third-party until further notice. However, the company is allowed to carry out the activity through its own employees. RBI’s ban comes after certain material supervisory concerns were observed in the company. “However, the said NBFC may continue to carry out recovery or repossession activities, through its own employees,” RBI said.
Fortis Healthcare: Fortis Healthcare on Thursday said it is seeking legal advice to decide its future course of action after the Supreme Court ordered a forensic audit of its share sale to Malaysia’s IHH Healthcare. Similarly, IHH Healthcare also said it is awaiting the written judgment from the apex court and seeking legal advice on the impact of the order on its acquisition of Fortis Healthcare.
Hero MotoCorp: Hero MotoCorp on Thursday said it has increased the prices of its two-wheelers by up to ₹1,000 to partially offset the impact of cost inflation. In a regulatory filing, the company said, it has made an upward revision in the ex-showroom prices of its motorcycles and scooters, with immediate effect. “The price revision has been necessitated to partially offset the impact of cost inflation,” it said, adding, the hike “will be up to ₹1,000 and the exact quantum of increase will vary by model and market”.
Raymond: Good Glamm Group, the direct-to-consumer beauty and personal care conglomerate, has abandoned plans to acquire Raymond’s consumer care business due to a valuation mismatch, said a person with knowledge of the matter. The group was reportedly in talks to buy the consumer care business, which houses the Park Avenue and KamaSutra brands, in a cash-and-stock deal worth ₹2,500- ₹2,800 crore.
Lupin: Drug firm Lupin on Thursday said it has received an approval from the US health regulator to market a generic non-steroidal anti-inflammatory drug in the American market. The company has received an approval from the US Food and Drug Administration for Diclofenac Sodium Topical Solution, Lupin said in a statement. The company’s product is a generic equivalent of Horizon Pharma’s Pennsaid Topical Solution, it added.
Bharti Airtel: Singapore Telecommunications Ltd’s unit Pastel Ltd on 22 September divested a 1.59% stake in Bharti Airtel for ₹7,261 crore through an open market transaction. Bharti Airtel’s promoter Bharti Telecom Ltd picked up the stake, as Pastel offloaded 9,40,00,000 shares, amounting to a 1.59% stake in the company at an average price of ₹772.5 a piece.
Century Textiles and Industries: Realty firm Birla Estates on Thursday said it has acquired 10 acres of land in Bengaluru and will develop a housing project with the expected sales potential of ₹900 crore. Birla Estates Pvt Ltd, a wholly-owned subsidiary of Century Textiles and Industries Ltd, said in a statement that it has acquired a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru.
Exide Industries: Lead-acid battery major Exide Industries on Thursday said the first phase of its 6Gwh lithium-ion battery plant in Karnataka will be ready in 27-30 months, and it has lined up ₹3,800-4,000 crore investment to execute the project. The project, spread over 80 acres, will expand to become a 12-Gwh (Gigawatt hour) capacity integrated lithium-ion battery facility involving a total investment of ₹6,000 crore, and it will take 8-10 years to reach its peak capacity.
Axis Bank: Axis Bank on Thursday said it has started disbursing loans through the Account Aggregator (AA) framework, which enables easy and instant access to the financial information of customers in a secure manner. The country’s third largest private sector lender has already gone live on multiple Account Aggregators like Anumati-AA, OneMoney-AA and FinViu-AA, covering retail and SME customers. An early investor in the AA framework, Axis Bank’s loan disbursals have increased more than 30 per cent month-on-month since going live on the data sharing platform.
InterGlobe Aviation: India’s leading budget carrier IndiGo on Thursday added Ras Al Khaimah as its 100th destination with a new daily direct flight between Mumbai and the Gulf city in the United Arab Emirates (UAE). Also named as Gulf Tourism Capital for 2020 and 2021 by the Gulf Cooperation Council, Ras Al Khaimah is the airline’s 11th Middle East destination in the 6E network.
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Post your comment
Save my name, email, and website in this browser for the next time I comment.
Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.