Stocks to Watch: Reliance, SBI, Yes Bank, L&T Infotech, telcos

Market


NEW DELHI :

Following are the top 10 stocks that will be in news today:

State Bank of India: The country’s largest lender has raised 6,000 crore by issuing Basel III compliant bonds. Meanwhile, the RBI has imposed a monetary penalty of 1 crore on the bank for non-compliance with frauds classification norms.

Reliance/Future Retail: The NCLT has allowed the creditors and shareholders of Reliance Retail Ventures to hold meetings to seek approval for the company’s proposed 24,700 crore deal with the Future Group. 

Yes Bank: Distressed assets investor Cerberus Capital Management is the frontrunner to become Yes Bank’s equity partner in the lender’s proposed asset reconstruction company (ARC), two people directly aware of the discussions told Mint.

Telecom companies: The government has written to telcos, including Bharti Airtel, Vodafone Idea and Reliance Jio, asking them to convey by October 29 if they would be opting for a four-year moratorium, PTI reported.

L&T Infotech: The IT company reported a 20.8% increase in consolidated net profit to 551.7 crore for the quarter ended September. The company’s revenue grew 25.6% to 3,767 crore in the quarter.

CG Power and Industrial Solutions: The company has signed a binding term sheet with Evie Real Estate to sell its property at Kanjurmarg in Mumbai, for 382 crore by March. As per the term sheet signed with the buyer, the sale consideration has been fixed in addition to repayment of 20 crore of deposit, under dispute.

TTK Prestige: The company will consider sub-division/split of equity shares of face value of 10 each on 27 October.

Dixon Technologies: The company’s unit Padget Electronics has commenced manufacturing of mobile phones for US-based Orbic at its Noida plant

HG Infra Engineering: The firm has been declared L-1 Bidder by National Highways Authority of India for two projects.

Indian Energy Exchange: The company will consider proposal for declaration of bonus issue of equity shares.

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