Here are the top 10 stocks that could be in focus on Monday:
ICICI Bank, Axis Bank: Moody’s Investors Service has updated the standard credit evaluations of ICICI Bank and Axis Bank, reflecting improvements in credit fundamentals, especially asset quality. The worldwide rating agency has upgraded the baseline credit assessments (BCAs) to baa3 from ba1.
Coal India: The state-owned miner is diversifying into aluminum production, solar power generation and coal gasification as it seeks to decarbonize its operations. The company is awaiting certain clearances for its planned integrated aluminum project in Odisha. A government panel chaired by chief minister Naveen Patnaik had approved the project in December.
SpiceJet: A Delhi-bound SpiceJet airplane caught fire taking off from Patna airport on Sunday and made an emergency landing minutes later. All 185 passengers on-board were safe. The Directorate General of Civil Aviation (DGCA) will probe the matter.
Telcos: Reliance Jio, Bharti Airtel and Vodafone Idea have requested the division from media communications to guarantee that hostage 5G organizations keep rules and guidelines concerning quality of service, security, enable lawful interception by enforcement agencies among others, while staying isolated from commercial networks and are set up simply by end-user enterprises instead of intermediaries and system integrators.
Cipla: The pharma company said it has signed definitive agreements to get 21.05% stake in Achira Labs Pvt Ltd for ₹25 crore. The latter is engaged in developed and commercialization of point of care (PoC) medical test kits in India.
L&T Finance Holdings: Apollo Global Management is in advanced talk with L&T Finance Holdings to acquire its real estate loans worth ₹8,000-9,000 crore. The L&T group company is looking to pivot toward the retail segment by pruning its infrastructure and real estate exposure.
Aurobindo Pharma: The drug major has aquired a 51% stake in GLS Pharma, which operates in the oncology business and has a manufacturing facility in Hyderabad. The cost of acquisition was ₹28.05 crore.
Dilip Buildcon: Dilip Buildcon’s joint venture company RBL-DBL has been announced lowest bidder for the Surat Metro Rail Project in Gujarat. The order is worth ₹1,061 crore. The company has also received the completion certificate for two road projects in Karnataka.
Nazara Technologies: The company has decided to make a further strategic investment of up to ₹20.1 crore in material subsidiary Absolute Sports by acquiring shares of promoter Porush Jain and up to ₹10 crore in Brandscale Innovations by subscribing into alternatively convertible debentures in one or more tranches.
L&T Infotech: The amalgamation process of Larsen and Toubro Infotech and Mindtree is probably going to be finished by December, and during this period, both the companies will continue to operate independently. The two subsidiaries of Larsen and Toubro had last month declared a megamerger to create an efficient and scaled-up IT services provider, exceeding $3.5 billion in combined revenue.