The Indian equity indices Sensex and Nifty are likely to open higher Monday as the trends on SGX Nifty indicate a positive start for the broader index in India amid mixed global cues.
Here are the top 10 buzzing stocks for today:
1. Auto Stocks: The Production Linked Incentive scheme for the auto sector is all set to be announced this week, sources tell CNBC TV18.
2. Reliance Industries: The company’s subsidiary Reliance Strategic Business Ventures acquired 2.28 crore shares in Strand Life Sciences for Rs 393 crore. The company will invest additional Rs 160 crore by March 2023 and will hold a total of 80.3 percent stake in Strand Life Sciences after the entire investment.
3. M&M Financial Services: The company’s August disbursements rose 57 percent YoY to Rs 2,150 crore, while collection efficiency improved to 97 percent from 95 percent in July.
4. ICICI Lombard: The company has received regulatory and other approvals from the Insurance Regulatory and Development Authority of India (IRDAI) for the demerger of the general insurance business of Bharti AXA General.
5. Dr Reddy’s Laboratories: The company has entered into a definitive agreement with US-based Citius Pharmaceuticals to sell all of its rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets.
6. Hero MotoCorp: The company has opened bookings for the next batch of Harley-Davidson adventure tourer bike ‘Pan America’ 1250 after the first lot completely sold out.
7. Bank of India: LIC acquired an additional 3.87 percent stake in the bank via QIP, raising shareholding to 7.05 percent from 3.17 percent.
8. Barbeque Nation Hospitality: The company has raised nearly Rs 100 crore through preferential issue of equity shares to three different investors, including the Massachusetts Institute of Technology.
9. Federal Bank: The bank has launched credit cards in partnership with Visa.
10. Ashoka Buildcon: The company has received an order worth Rs 1,570 crore in West Bengal.
(Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)