Here’s a quick look at stocks likely to be in focus in today’s trade.
InterGlobe Aviation (IndiGo)
IndiGo co-founder Rakesh Gangwal and the Chinkerpoo Family Trust plan to offload a 3.1% stake through a ₹7,027 crore block deal at a 4% discount, while agreeing to a 150-day lock-up period as Gangwal continues his phased exit, according to reports.
Rail Vikas Nigam
The company has entered into a joint venture with Texmaco Rail & Engineering to execute projects in the railway and related infrastructure sectors. Under the proposed arrangement, RVNL will hold a 51% stake, while Texmaco Rail will own 49%.
Tata Steel
Tata Steel has invested ₹3,100 crore to purchase shares in its Singapore-based subsidiary, T Steel Holdings Pte Ltd.
Dr Reddy’s
The pharmaceutical company obtained an interim stay from the Telangana High Court on the income tax reassessment related to its merger with DRHL.
Zaggle Prepaid
Zaggle Prepaid announced to the exchanges that it has entered into an agreement with Standard Chartered Bank.
United Breweries
The alcohol and beverage company will invest ₹90 crore in a new canning line at Telangana’s Nizam Brewery, increasing capacity by 0.4 mhl to cater to the growing demand for Kingfisher and Heineken.
Oil India
Oil India and Bharat Petroleum Corporation Ltd (BPCL) have established a joint venture to build a gas distribution network in Arunachal Pradesh, which will include setting up CNG stations and providing PNG supply to households, commercial establishments, and industries.
Biocon
The pharmaceutical giant announced that its wholly owned subsidiary, Biocon Pharma, has obtained tentative approval from the US Food and Drug Administration (US FDA) for Sitagliptin tablets in 25 mg, 50 mg, and 100 mg doses.
Power Grid
The company has been awarded the project to set up an inter-state transmission system in Karnataka.
BSE
The company’s subsidiaries, BSE Investments and BSE Administration and Supervision, have obtained approval from their respective Boards of Directors to proceed with a merger with BSE Technologies.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
