Stocks to Watch: RIL, Torrent Pharma, Cipla, Jio Financial, SBI, ONGC

Here are the top 10 stocks that could be in focus in today's trade:

Reliance Industries: Viacom18 Media Pvt. Ltd, a unit of Reliance Industries Ltd (RIL), secured the media rights for all bilateral cricket matches to be played in India during the next five years for ₹5,963 crore through the e-auction conducted by the Board of Control for Cricket in India (BCCI) on Thursday. The RIL-run broadcaster outbid Sony Pictures Networks India across digital and television, while the third bidder, Disney Star, placed just a couple of bids, according to two people familiar with the development.

Torrent Pharma/Cipla: According to sources cited by CNBC-TV18 on August 31, there are indications that Torrent Pharma, headquartered in Ahmedabad, has submitted a preliminary bid with a non-binding nature to acquire a stake from the promoters of the prominent pharmaceutical company, Cipla. In the upcoming weeks, Torrent Pharma is expected to make a decision regarding a formal binding offer. Alongside this, the company is reportedly engaged in discussions with three to four private equity firms and foreign institutions exploring various funding alternatives.

SBI/Bank of Baroda: Fitch Ratings on Thursday affirmed the ratings of the nation's six public sector lenders, including SBI and Bank of Baroda, at BBB- with a stable outlook. The other banks that the agency rated BBB- with a stable outlook are Punjab National Bank, Canara Bank, Bank of India, and Union Bank of India. The rater has also affirmed these banks' viability rating at BB and its government support rating of BBB-. The rating revision also reflects the agency's view of the bank's ability to generate business consistently through the cycle while managing risk better than its peers.

Jio Financial Services: Jio Financial Services Ltd’s shares will be removed from all S&P BSE indices, including Sensex, before trading opens on 1 September, according to a circular by the BSE on Thursday. Initially, JFSL was set to be excluded from the indices after 23 August after its listing on 21 August, following its spin-off from its parent, Reliance Industries Ltd. However, as the stock was locked in lower circuits for several days, the exclusion was postponed. Over the past three days, the stock has reached upper circuits.

Five Star Business Finance: According to CNBC-TV18, private equity investors are considering the possibility of selling approximately 8.8% of their stake in Five Star Business Finance through block deals. Notably, Matrix Partners, TPG Asia, and Norwest Ventures are among the potential entities looking to divest some of their holdings in the NBFC. The anticipated floor price for the block deals involving Five Star Business Finance shares is expected to be set at ₹724 per share which is a discount of approximately 6.25%.

ONGC: Fitch Ratings Thursday gave a stamp of approval to Oil and Natural Gas Corporation Limited by keeping its rating at 'BBB-' with a stable outlook. This rating shows that ONGC is considered to have a moderate level of creditworthiness. The business rating also said that the future outlook for ONGC is stable. "ONGC's ratings are constrained by the ratings of the state of India (BBB-/Stable), its majority owner," the rating agency said.

Zee Entertainment: The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notice to Zee Entertainment Enterprises Ltd (ZEEL) on a plea by IDBI Bank requesting the initiation of insolvency proceedings against the company. IDBI’s plea is after the bank is unable to recover unpaid dues of around ₹150 crore. The Tribunal instructed both parties to submit replies and rejoinders, acknowledging that the case requires consideration. The NCLAT will now hear this matter on 11 October.

Central Bank of India: State-run Central Bank of India Thursday said it has raised ₹1,500 crore by issuing Basel-III compliant Tier-II bonds on a private placement basis. The base size for the bond sale was ₹500 crore, while the greenshoe option stood at ₹1,000 crore, the bank said in a statement. The issue just managed to scrape through as the bank received bids for ₹1,516 crore from investors and it accepted bids for ₹1,500 crore.

Aditya Birla Fashion and Retail: Aditya Birla Fashion and Retail plans to raise ₹750 crore on or after September 4 through debt bonds, the company said on Thursday. The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing. In a separate filing, the company said that it has completed the acquisition of a 29 per cent stake in TCNS Clothing Co Limited pursuant to the open offer. The 29 per cent stake is estimated to be over ₹941 crore.

Jet Airways: Jalan Kalrock Consortium (JCK) said it has deposited ₹100 crore in Jet Airways in less than 48 hours of the NCLAT allowing implementation of the revival plans, PTI reported on Thursday. The JCK, the winning bidder for the revival of grounded carrier Jet Airways, has so far invested ₹250 crore in the airline. "With this infusion, JKC has now invested ₹250 crore in Jet Airways and now is only required to fund the remaining ₹100 crores in Jet Airways by September 30, 2023, to take control of the airline," the consortium said in the statement.