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Stocks in the news: Reliance Industries, Rites, Motherson, Zee, DHFL

Here are a few stocks that may buzz the most in Friday’s trade.

ETMarkets.com|
Nov 22, 2019, 08.19 AM IST
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Tata Power raised Rs 1,500 crore by issuing unsecured, non-cumulative, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) on private placement basis.
Nifty futures on the Singapore Exchange traded 2.50 points, or 0.02 per cent, lower at 11974.50, indicating a flat start for Dalal Street. Here are a few stocks that may buzz the most in Friday’s trade:

Tata Power:
Tata Power raised Rs 1,500 crore by issuing unsecured, non-cumulative, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) on private placement basis. The company has issued 15,000 NCDs worth Rs 1,500 crore on November 21, 2019, Tata Power said in a BSE filing.

Maruti Suzuki: Country’s leading car manufacturer will introduce a BS-6 petrol version of its two models, Brezza and S-Cross, before April 1, 2020, PTI reported.

Reliance Industries: Global financial firm HSBC maintained ‘Buy’ on Reliance Industries with a target price of Rs 1,700, citing inexpensive valuation. “RIL’s consumer businesses driving the upside. Jio and retail to continue to drive upside,” it said.

Laurus Labs: Drug firm Laurus Labs said US health regulator has made three observations after completing inspection of its Visakhapatnam facility in Andhra Pradesh. The company has completed the pre approval inspection (PAI) for an active pharmaceutical ingredient (API) manufactured at its Units 1&3, located at Visakhapatnam by the United States Food and Drug Administration, Laurus Labs said in a filing to the BSE.

Eicher Motors: Record retail sales in October have given Royal Enfield’s new CEO Vinod Dasari the confidence to ‘call’ the trough in the current cycle, and he expects sales volumes of the popular Bullet bikes to accelerate from here – possibly in double digits. Eicher is the parent company of Royal Enfield.

Zee Entertainment: Several foreign funds, including the New York-based BlackRock, Singapore government-backed GIC, HSBC Global, Citigroup, Morgan Stanley Asia, Vanguard and Wellington Management, have picked up stakes in Zee Entertainment Enterprises as the promoters sold stock to repay loans.

DHFL: After the central bank superseded the board of Dewan Housing Finance (DHFL), deposit holders with the overall exposure of Rs 6,000 crore to the stressed lender face the risk of losing a large part of their savings. Public deposits contribute 7 per cent to DHFL’s overall borrowing mix of Rs 83,900 crore. Debenture holders have 37 per cent exposure, followed by 31 per cent of bank term loans.

NTPC: Morgan Stanley upgrades NTPC to ‘Overweight’ from ‘Equal-Weight’ earlier with a target price of Rs 152. “Fixed cost under-recovery is reducing and risk-reward is attractive for NTCP,” the brokerage house said.

Motherson Sumi: Goldman Sachs maintained ‘Buy’ on Motherson Sumi with a target price of Rs 155. The global firm believes that Motherson should see a sharp improvement in earnings growth in FY21E.

TV18 Broadcast: The company on Thursday after market hours clarified on the reports of Sony stake purchase that it is evaluating various opportunities on an ongoing basis.

Reliance Capital: The company said the non-convertible debenture, interest/ principal obligations due on November 20 has been delayed.

Rites: Government is looking to sell 25 million shares of the company. It has an oversubscription option to sell 12.5 million more shares. The floor price for offer shall be Rs 293.50.

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