BackStocks to Watch: HDFC Bank, DHFL, L&T, aviation companies
Canara Bank, Indiabulls Housing Finance, NALCO, SAIL, Tata Motors are under F&O ban for 26 Nov. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit
PremiumNew Delhi: Here are the top 10 stocks that could be in news today:
HDFC Bank: Had crossed ₹8 trillion in market capitalisation intraday on Wednesday, the third company and the first lender to reach the milestone. The stock, however, erased all gains at closing, in line with the trend in broader market. The scrip closed 2.5% lower at ₹1,402.65 apiece.
Banks: Banking operations across the country may be hit on Thursday as some bank unions will joining the one-day nationwide strike called by central trade unions. Ten central trade unions, except Bharatiya Mazdoor Sangh, will observe the nationwide general strike to protest against various policies of the Centre.
DHFL: Hong Kong-based SC Lowy has informed the committee of creditors and the RBI-appointed administrator of DHFL that it will not pursue the transaction and has sought the refund of ₹100 crore or bid bond guarantee it had submitted. Oaktree Capital has also said that it is unsure of its participation.
L&T: The construction arm of Larsen and Toubro has bagged a ₹3,000 crore contract to build India’s longest road bridge across river Brahmaputra connecting Dhubri in Assam to Phulbari in Meghalaya. The company emerged as the lowest bidder in the tender floated by National Highways and Infrastructure Development Corporation.
Aviation stocks: Airlines operating in the Asia-Pacific (Apac) region, including India, are expected to report combined losses of $31.7 billion in 2020 because of the adverse impact of the pandemic on travel demand, the International Air Transport Association (IATA) said on Wednesday. Losses are expected to narrow to $7.5 billion in 2021, the industry lobby group said.
JSW Group: Has appointed Citibank and O3 Capital as lead investment bankers to raise equity capital for JSW Cement and JSW Paints, respectively, to fund its latest round of expansion before the two businesses go public. Citibank has a mandate to raise around $200 million and O3 Capital around $40 million by the end of FY 21.
Union Bank of India: The state-owned lender proposes to raise up to ₹6,800 crore during this fiscal to fund business growth. Extraordinary General Meeting (EGM) for taking shareholders' approval in this regard will be held on December 30, 2020, it said.
Siemens Ltd: The tech major on Wednesday reported 4.7% fall in net profit to ₹333 crore for September quarter mainly on higher expenses due to lockdown. Revenue from continuing operations declined 9.2% to ₹3,422 crore over the corresponding quarter of the previous year.
Lakshmi Vilas Bank: Trading in shares of Lakshmi Vilas Bank will be suspended from 26 November 26, the National Stock Exchange said in a statement. Following the Union Cabinet's approval for the merger of the cash-strapped lender with DBS India, the Reserve Bank of India had said the amalgamation will come into force from 27 November and the moratorium imposed on LVB will be removed on that day.
Larus Lab: Will be on focus after it acquired 72.55% stake in a biotech company Richcore Lifesciences for ₹246.67 crore.
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