The Reserve Bank of India (RBI) has identified probable related-party lending activity by the Srei group during 2019-20, the non-bank lender said in a regulatory disclosure
NEW DELHI: Here are top 10 stocks that may be in focus today.
Alembic Pharma: Drug firm Alembic Pharmaceuticals on Thursday said it has received approval from the US health regulator for its generic Nitrofurantoin capsules indicated for the treatment of urinary tract infections. The company has received final approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Nitrofurantoin capsules. The product is a generic version of Alvogen Malta Operations Ltd's Macrodantin capsules in the same strengths, it added.
Auto sector stocks: Factory dispatches of passenger vehicles surged sequentially in June, as states continued to ease lockdown lockdown curbs, imposed in the wake of the devastating second wave of the coronavirus pandemic. With most reopening, automakers raise production to replenish inventory.
Banking stocks: Gross non-performing assets (GNPAs) of banks may rise to 9.8% by March 2022 under a baseline scenario, from 7.48% in March 2021, according to the Financial Stability Report (FSR) released by the Reserve Bank of India. Under a severe stress scenario, GNPA of banks may increase to 11.22%, it added.
Cadila Healthcare: The Ahmedabad based pharmaceutical firm Zydus Cadila has applied for Emergency Use Authorization (EUA) for ZyCoV-D—its Plasmid DNA vaccine against covid-19 to the Drug Controller General of India (DCGI), the company announced on Thursday. If approved, the drugmaker further said, it is ready to roll out the world's first Plasmid DNA shot in 45-60 days.
Dr. Reddy’s Laboratories: The Hyderabad-based pharma major said that the single-dose Sputnik Light vaccine can submit Russian safety data for approval in India. Sputnik Light is a one-shot Covid-19 vaccine from the makers of Sputnik V and is yet to be approved in the country.
IndiGo: The airline’s operator, Interglobe Aviation Ltd has narrowed down on Citi, JP Morgan, Morgan Stanley and BNP Paribas for a ₹3,000 crore qualified institutional placement to be made around August, media reports said citing people familiar with the matter.
Larsen & Toubro: The infrastructure company said it has secured orders from prestigious clients for its businesses in India. The company did not provide the value of contracts but said the orders fall under the "significant" category, which ranges between ₹1,000 crore and ₹2,500 crore, according to the classification of contracts.
NMDC: The state-owned iron ore miner on Thursday reported a 34% increase in its output to 8.89 million tonne (MT) in the first quarter of the current fiscal. The company had produced 6.61 MT (Million Tonne) of iron ore in the same period a year ago, according to a statement. In June, the company said its iron ore output was at 2.98 MT, up 18% from 2.52 MT in the year-ago period.
Srei Infrastructure Finance: The Reserve Bank of India (RBI) has identified probable related-party lending activity by the Srei group during 2019-20, the non-bank lender said in a regulatory disclosure on Thursday. Srei Infra said that the total exposure to such loans were at ₹8,576 crore in the last fiscal year. The company is planning to raise ₹2,500 crore through one or more instruments via different modes. SEFL also received a term sheet from Makara Capital Partners for an investment of ₹2,200 crore, besides ₹2,000 crore from Arena Investors LP.
Tata Power: The company’s board has decided to withdraw the amalgamation of its unit Tata Power Solar Systems Ltd. Upon coming into effect of the amended composite scheme, the company’s other unit, Coastal Gujarat Power Ltd will be amalgamated with Tat Power and company capital will be reorganized accordingly.
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