Markets

Stocks in the news: DHFL, IFCI, ICICI Lombard, SBI Life, NTPC and Bharti Airtel

NEW DELHI: Nifty futures on the Singapore Exchange were trading 20 points, or 0.17 per cent, lower at 11,772.50, indicating a negative start for Dalal Street. Here are a few stocks which may buzz the most in todays trade:

Bharti Airtel: The telecom major has prepaid over Rs 22,000 crore of rupee-denominated domestic loans to multiple banks using a majority of the carriers Rs 25,000-crore rights issue proceeds, people familiar with the matter said.

ICICI Lombard: American private equity firm Warburg Pincus on Tuesday sold 3.15 per cent stake in insurance company ICICI Lombard General Insurance to raise about Rs 1,577 crore, according to NSE data.

SBI Life: Shares of SBI Life Insurance will be available at Rs 670 apiece to retail investors on Wednesday through an offer-for-sale, lower than their IPO price of Rs 700 per share two years ago. But analysts are not bullish on the stock in the near term.

Dewan Housing Finance: DHFL managed to meet just 40 per cent of its Rs 375-crore repayment commitment toward commercial papers, highlighting the cash-flow stress at the embattled mortgage lender that is selling assets to repay debt.

Dr Reddy's, Torrent and Aurobindo Pharma: Novartis has won a US federal court order preventing rival generic makers Dr Reddy's Laboratories, Mylan Pharmaceuticals, Torrent Pharma and Aurobindo Pharma, among others, from making or selling a Gilenya copy in the United States, at least until a patent dispute is resolved.

Adani Power: The company said it will acquire GMR Chhattisgarh Energy Ltd (GCEL) as the consortium of lenders has approved its resolution plan.

Asian Paints: State-owned LIC has sold over 1.92 crore shares, representing about 2 per cent stake of Asian Paints, through open market transaction.

IFCI: Long-term infrastructure term lender IFCI will exit the National Stock Exchange (NSE) by selling the remaining stake of over 2 per cent in the bourse.

Reliance Power: The company said ICRA has revised ratings of its wholly-owned subsidiary Sasan Power Ltd citing deterioration in financial risk profile of the group. The company, however, strongly disagreed with the ratings assigned.

Persistent Systems: The IT firm said its German subsidiary will acquire Youperience GmbH for up to 6.8 million euros (about Rs 53.6 crore).

TV Today Network: HDFC Mutual Fund has increased its holding in media firm TV Today Network by 2.14 per cent stake through open market transaction.

Nestle India: FMCG major Nestle has introduced MAGGI Fusian, a range of Asian flavor inspired noodles, to cater to evolving consumer preferences.

Orchid Pharma: NCLT has approved Gurgaon-based Dhanuka Laboratories Rs 1,116-crore resolution plan to take over debt-ridden Orchid Pharma in what could be termed as yet another case resolved under the Insolvency and Bankruptcy Code (IBC).

Reliance Industries: The second largest company by market value is set to raise $1.85 billion Read More – Source

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