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Stocks in the news: TCS, Bharti Airtel, SBI, Gayatri Projects, Ashok Leyland

Here are a few stocks which may buzz the most in today's trade.

Dec 05, 2019, 08.20 AM IST
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Singapore-based Sembcorp Industries has entered into a deal to buy out the 5.95% stake of its Indian partner Gayatri Projects in Sembcorp Energy India (SEIL) for ?406 crore, the two companies said on Wednesday.
NEW DELHI: Nifty futures on the Singapore Exchange traded 9.50 points, or 0.07 per cent, higher at 12,085.50, indicating a muted start for Dalal Street. Here are a few stocks which may buzz the most in today's trade:

TCS: Shapoorji Pallonji Group has sold a quarter of its stake in TCS to raise Rs 400 crore. Sterling Investment Corp and Cyrus Investments sold 19.9 lakh shares in the open market last week.

Bharti Airtel: Hit by heavy losses and large government dues after the Supreme Court verdict on adjusted gross revenue (AGR), Bharti Airtel’s board on Monday decided to raise up to $3 billion (about Rs 21,500 crore) via debt and equity, looking to strengthen its financial position.

Gayatri Projects:
Singapore-based Sembcorp Industries has entered into a deal to buy out the 5.95% stake of its Indian partner Gayatri Projects in Sembcorp Energy India (SEIL) for Rs 406 crore, the two companies said on Wednesday.

SBI: Brokers are advising their clients to buy at least one share of State Bank of India so that they can be eligible to apply for the Rs 9,000-crore initial public offering of SBI Cards and Payment Services under a special category.

Coal India: The company is in talks with Russian coal company VostokCoal-Diskon to participate in the extraction of coking coal and its imports from mines in the Siberian districts of Russia, Coal India executives said.

Dr Reddy's Labs: Pharma major Dr Reddy’s Laboratories on Wednesday said it has launched Bortezomib for Injection 3.5 mg/vial, indicated for the treatment of certain types of cancers in adult patients, in the US market.

Ashok Leyland: Hinduja Group flagship said the company proposes to observe non-working days in a few plants in December to align production at its facilities in line with market demand.

GAIL, Power Grid: The Supreme Court order on adjusted gross revenue (AGR) will be applicable to all telecom licensees, which includes companies like GAIL, RailTel, Power Grid and others, communications minister Ravi Shankar Prasad told the Lok Sabha on Wednesday in response to a question.

Karnataka Bank: The bank said it has reported a fraud of Rs 40 crore to the RBI in the credit facilities to Hanung Toys and Textiles, which has already been declared an NPA. Hanung Toys, dealing with the bank since 2008, had availed various credit facilities under consortium arrangement where Karnataka Bank was a member bank.

United Breweries: The company has entered the niche and fast-growing craft beer segment with the launch of Kingfisher Ultra Witbier to take on more than a half-dozen rivals such as Bira 91, Simba and White Owl.

RIL: Goldman Sachs has raised the earnings estimates for Reliance Industries, India’s most valuable company, for the next two fiscal years and subsequently increased the 12-month share price target to Rs 1,850 from Rs 1,635 earlier, primarily driven by expectations of stronger growth in the telecom business.

Lupin: CLSA has retained sell rating on Lupin and lowered target price to Rs 640 from Rs 650. The brokerage has cut earnings estimate on Lupin by 2-4%, factoring in lower US revenues due to slow ramp-up of Solosec and weak launch pipeline for generics.

Suzlon Energy:
Wind turbine maker Suzlon Energy and its bankers are working on a debt restructuring programme to avoid taking it to the bankruptcy court for resolution after talks for stake sale with potential buyers collapsed, top executive told ET.

Tata Power: A joint venture of Tata Power and ICICI Bank on Wednesday acquired real estate baron Manoj Gaur's biggest power plant at Prayagraj in Uttar Pradesh by agreeing to takeover ?6,000 crore of debt of the company.
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