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Hikal, Idea Cellular, Marico and GMR Infra among stocks in news

Here's a look at the top stocks that may hog the limelight in today's session|
Last Updated: Sep 04, 2018, 09.32 AM IST|Original: Sep 04, 2018, 08.26 AM IST
Stock in news: JSPL, IDBI bank and ITC
Stock in news: JSPL, IDBI bank and ITC
NEW DELHI: Nifty futures on the Singapore Exchange were trading 7 points, or 0.06 per cent, lower at 11,623, indicating a tepid start for the Nifty50.

Here's a look at the top stocks that may hog the limelight in today's session:

Hikal: Investor Ashish Kacholia on Monday bought 20 lakh shares of pharmaceutical firm Hikal at Rs 166.5 per share, bulk deal data on the NSE showed. The data showed that International Finance Corportation (IFC) sold 39.82 lakh shares at Rs 166.5 per share. The BSE shareholding data showed that IFC held 5.4 per cent stake in the company at the end of June.

Reliance Infrastructure: The company said it has paid all outstanding electricity duty and other taxes amounting to Rs 2,640 crore to the Maharashtra government last week on closure of deal to sell its integrated Mumbai power distribution business to Adani Transmission.

Jindal Steel & Power: JSPL is considering a breakup plan as part of a restructuring to help trim its Rs 42000 crore ($6 billion) debt pile and boost investor confidence in a company that was once India’s biggest steelmaker by market value.

IDBI Bank: The LIC board will meet Tuesday to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51 per cent, a move that will provide the insurance behemoth entry into the banking space. The board will discuss timeline for the open offer, board-level appointments and future strategy for revitalising IDBI Bank, sources said.

NHPC: The company has signed a memorandum of understanding on September 9, 2018 with Bharat Heavy Electricals Limited for consultancy and joint cooperation in hydroelectric projects in India for a period of three years from the date of signing," NHPC said in a regulatory filing.

ZEE Entertainment: The company has announces subscription rates of channel Zee Entertainment Enterprises Limited (ZEEL) on Monday said it has become the first major broadcaster in the country to announce price of all its channels under the new regime as per regulation in place, PTI reported.

Idea Cellular: Telecom major Vodafone Idea Limited Monday raised Rs 1,500 crore fund through non-convertible debentures on private placement basis -- first debt after its incorporation. "the Securities Allotment Committee have at their meeting held today i.e. on September 3, 2018, allotted 15,000 unsecured redeemable non-convertible debentures aggregating to Rs 1,500 crore on private placement basis," Vodafone Idea said in a regulatory filing.

Vedanta: Patent Vedanta Resources is looking to delist from London Stock Exchange on October 1, after the holders of 26 per cent of shares have agreed to sell their stake to his family trust Volcan Investments, as per a regulatory filing.

IDBI Bank: Rating agency Icra Monday said it has placed long-term ratings for Rs 4,286.20 crore upper tier II bonds programme and Rs 1,708.80 crore basel II compliant perpetual bonds of IDBI Bank on Rating Watch with Developing Implications (RWD).

ITC: Kolkata-based cigarettes-to-cookie maker ITC, plans to launch ready-to-drink, milk-based beverages that will compete with the likes of Coca-Cola, Amul and Britannia next month.

GMR Infra: GMR Infrastructure said Monday it has divested entire stake in four Indonesian coal mining entities through its stepdown subsidiaries. "...PTBSL Group entities have ceased to be subsidiaries of the company," GMR Infrastructure said in a filing today.

Dabur India: Dabur has received an injunction in its favour from the Delhi High Court, which stopped Emami from airing a commercial for its chyawanprash brand that allegedly disparaged Dabur’s brand. The court has also directed Emami to remove the ad from video sharing website YouTube.

Marico: Home-grown FMCG firm Marico is expecting a volume growth of 8-10 per cent and a double-digit constant currency growth in international business over the next 3 to 5 years as a result of strategic investments, a top company official has said.

NTPC: State-run power firm NTPC said Monday it has started its first electric vehicle charging station in Simhadri, Vishakhapatnam in line with the government's plan to switch to clean mobility.

Airline stocks: The domestic airlines industry is expected to post higher losses at $1.65-1.90 billion this fiscal year, up from projected $430-460 million, amid the headwinds due higher costs and lower yields, a report said.

Khadim India: Anand Rathi has initiated coverage on Khadim India with a ‘buy’ rating and target price of Rs 976. The brokerage said the company is best positioned to benefit from the domestic footwear industry shifting towards branded footwear.

Mold-Tek Packaging: IDBI Capital has initiated coverage on Mold-Tek Packaging with a ‘buy’ rating and target price of Rs 377. Leadership in inmold labelling manufacturing, complete in-house backward integrated operations and foray in food and FMCG segment, and capacity expansion would be key growth catalysts for the company, said the brokerage.
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