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Stocks to Watch Today: ICICI Bank, Axis Bank, Coal India, Cipla, Dilip Buildcon

20 Jun , 2022   By : Kanchan Joshi


Stocks to Watch Today: ICICI Bank, Axis Bank, Coal India, Cipla, Dilip Buildcon

NEW DELHI: Here are the top 10 stocks that could be in focus on Monday:


ICICI Bank, Axis Bank: Moody's Investors Service has upgraded the baseline credit assessments of ICICI Bank and Axis Bank, reflecting improvements in credit fundamentals, particularly asset quality. The global rating agency has upgraded the baseline credit assessments (BCAs) to baa3 from ba1.


Coal India: The state-owned miner is diversifying into aluminium production, solar power generation and coal gasification as it seeks to decarbonise its operations. The company is awaiting certain clearances for its planned integrated greenfield aluminium project in Odisha. A government panel chaired by chief minister Naveen Patnaik had approved the project in December.


SpiceJet: A Delhi-bound SpiceJet aircraft caught fire taking off from Patna airport on Sunday and made an emergency landing minutes later. All 185 passengers on-board were safe. The Directorate General of Civil Aviation (DGCA) will probe the matter.


Telcos: Reliance Jio, Bharti Airtel and Vodafone Idea have asked the department of telecommunications to ensure that captive 5G networks abide by rules and regulations concerning quality of service, security, enable lawful interception by enforcement agencies among others, while remaining isolated from commercial networks and are set up only by end-user enterprises instead of intermediaries and system integrators.


Cipla: The pharma company said it has signed definitive agreements to acquire 21.05% stake in Achira Labs Pvt Ltd for Rs25 crore. The latter is engaged in development and commercialisation of point of care (PoC) medical test kits in India.


L&T Finance Holdings: Apollo Global Management is in advanced talks with L&T Finance Holdings to acquire its real estate loans worth Rs8,000-9,000 crore. The L&T group company is looking to pivot toward the retail segment by pruning its infrastructure and real estate exposure.


Aurobindo Pharma: The drug major has acquired a 51% stake in GLS Pharma, which operates in the oncology business and has a manufacturing facility in Hyderabad. The cost of acquisition was Rs28.05 crore.


Dilip Buildcon: Dilip Buildcon's joint venture company RBL-DBL has been declared lowest bidder for the Surat Metro Rail Project in Gujarat. The order is worth Rs1,061 crore. The company has also received the completion certificate for two road projects in Karnataka.


Nazara Technologies: The company has decided to make a further strategic investment of up to Rs20.1 crore in material subsidiary Absolute Sports by acquiring shares of promoter Porush Jain and up to Rs10 crore in Brandscale Innovations by subscribing to optionally convertible debentures in one or more tranches.


L&T Infotech: The amalgamation process of Larsen & Toubro Infotech and Mindtree is likely to be completed by December, and during this period, both the companies will continue to operate independently. The two subsidiaries of Larsen & Toubro had last month announced a mega-merger to create an efficient and scaled-up IT services provider, exceeding $3.5 billion in combined revenue.


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