GE Stock – DCB Bank, Nestlé, Future Retail, KEC International, SBI
NEW DELHI: Top 10 stocks that may be in the news today.
DCB Bank Ltd: The private sector lender announced that it has acquired a minority equity stake of about 9% in non-bank financier Techfino Capital Pvt Ltd (TCPL) for an undisclosed sum.
Nestlé India: Packaged foods company Nestlé India reported a 14.65% jump in March quarter net profit at ₹602 crore, slightly ahead of Street estimates, as the company reported double-digit growth in domestic sales and key brands reported strong growth helped by in-home consumption.
Future Retail: Future Retail Ltd’s lenders plan to withdraw easier payment options offered to the company under a debt recast plan cleared last week if its ₹24,713 crore asset sale to Reliance group goes through, a banker aware of the matter said.
Gland Pharma: Shares of Gland Pharma, specialised niche injectables manufacturer, have been on fire, with the company’s prospects getting a boost following the approval for Sputnik V vaccine amid a rapid rise in vaccinations across the country.
Rossari Biotech Ltd: The company’s board of directors has approved the allotment of 30,12,046 shares at a price of ₹ 996 apiece aggregating to ₹ 2.99 crore on a preferential basis to multiple non-promoter entities.
KEC International: The engineering, procurement and construction company has secured new orders of ₹1,245 crores across its various businesses, it said in a regulatory filing.
GE Power India Ltd: The company has completed the acquisition of 50% of the issued and paid up share capital of NTPC GE Power Services Pvt. Ltd, it said in a regulatory filing.
Indiabulls Housing Finance Ltd: The non bank lender said it has entered into a strategic co-lending partnership with housing finance major HDFC Ltd to offer housing loans to homebuyers at competitive rates.
Hero MotoCorp Ltd: The two-wheeler manufacturer has decided to stop vehicle production at its factories between 22 April and 1 May, as a result of the surge in cases Covid-19 across the country. The company has also partnered with Gogoro Inc. to accelerate the shift to electric mobility in India.
State Bank of India: The lender said in a regulatory filing that IRDAI has imposed a penalty of ₹25 lakh on SBI General lnsurance Co. Ltd for non-compliance with minimum obligations under Motor Third Party Business violation of Sec. 32D of lnsurance Act, 1g38.