Top stocks in focus: L&T, Punjab National Bank, Adani Power, Tata Comm

Source: indiainfoline.com

L&T stated that it holds 60.06% stake in Mindtree. On July 2 the company had made payment to shareholders of Mindtree who had tendered their shares on Open Offer. The offer lasted from June 17 to June 28.

Fertilizer stocks in focus today as Government of India to revive five closed fertilizers at a cost of Rs37,971cr to reduce import of Urea.

RBI imposed a penalty of Rs50 Lakh on UCO Bank, Allahabad Bank, Punjab National Bank each and penalty of Rs25 lakh on Corporation Bank. The penalty imposed due to non-compliance of RBI directives on KYC norms and opening of current accounts.

Adani Power stated that Supreme Court has announced that a civil appeal by company’s arm Adani Power (Mundra) for cancellation of PPA having 1000MW Capacity with Gujarat Urja Vikas Nigam has been allowed.

Reliance Home Finance said that the CARE Ratings downgraded its rating for non-convertible debentures of Rs400cr to D primarily due to rescheduling of non-convertible debentures.

Tata Communications Vinod Kumar has resigned as MD and Group CEO with effect from July 5.

Aditya Birla Sun Life MF buys 2% stake in Shoppers Stop on June 28.

Tata Sponge Iron stated in their press release that promoter Tata Steel will subscribe to its full entitlement of rights in the issue and will acquire any additional rights equity share.

Electrosteel Castings has commenced commercial production at its Ferro Allow Plant in West Bengal with effect from July 1.

Kalpataru Power Transmission board approved acquiring 19.94% stake in Shree Subham Logistics for Rs64.66cr.

Aditya Birla Fashion & Retail: Board approved acquiring the entire stake in Jaypore E-Commerce and TG Apparel for Rs 104 crore.

Reliance Industries has informed the government’s Empowered Expert Committee (EEC) that it’s investing about Rs1,500cr in its proposed university, Jio Institute, in the next two years to ensure that it creates a world-class centre of learning, as per media reports.

Indiabulls Ventures’ wholly owned consumer finance subsidiary disbursed 9.2 lakh loans in the first quarter of the current financial year as compared to 4.9 lakh in the fourth quarter of the previous financial year and 0.6 lakh in the first quarter of 2017-18.

Graphite India received a nod from Karnataka State Government to close Bengaluru plant. Production has been closed since Feb 21.