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Stocks in the news: Raymond, Future Lifestyle, Dr Reddy's Labs and Hathway Cable

Here's a look at the top stocks that may hog the limelight in today's session.

Updated: Oct 03, 2018, 08.11 AM IST
stock-market-15 (2)
Here's a look at the top stocks that may hog the limelight in today's session.
NEW DELHI: Nifty futures on the Singapore Exchange were trading 32.50 points, or 0.30 per cent, higher at 10,990, indicating a positive start for the Nifty50. Here's a look at the top stocks that may hog the limelight in today's session:

Raymond: Textile major Raymond has put on the block a nearly 20-acre land parcel, which is part of its total 125 acres at Thane’s Cadbury Junction, said two persons with direct knowledge of the development.

Hathway Cable & Datacom, Reliance Industries: RIL has initiated talks to acquire India’s largest cable operator, Hathway Cable & Datacom, in a bid to speed up the commercial launch of its GigaFiber high-speed home broadband services.

Dr Reddy’s Labs: The company’s wholly-owned subsidiary Promius Pharma has sold its rights of Cloderm cream, and its authorised generic to EPI Health, an affiliate of EPI Group.

IL&FS Group stocks: The incoming board of IL&FS may look at structured deals and monetisation of assets to pay back investors and lenders. There are buyers for assets such as its solar power projects and road projects but this exercise typically takes long time, two people on the board of IL&FS subsidiary companies said.

RCom: Reliance Communications (RCom) has blamed the Department of Telecommunications (DoT) for creating hurdles in its bid to sell spectrum to Reliance Jio which, in turn, has prevented the operator from paying off its Rs 550 crore settlement amount to Ericsson.

Future Lifestyle: Kishore Biyani-led Future Lifestyle is in advanced stages of negotiations with Pepe Jeans to acquire its local arm and merge with its own Lee Cooper portfolio to create one of the country’s biggest casual wear brands, two people familiar with the matter said.

Havells India: CLSA has maintained buy rating on Havells India and revised target price to Rs 710 from Rs 655 after rolling forward earnings estimates.

Eicher Motors: Eicher Motors on Tuesday said Royal Enfield’s manufacturing facility at Oragadam, Chennai resumed operations from September 29 and it expects to reach regular level of production in a phased manner. A part of workforce at the plant was not reporting for duty since September 24.

Glenmark Pharmaceuticals: The company has completed the transfer of its orthopaedic and pain management business, valued at Rs 635 crore, to a new entity incorporated by leading private equity firm True North.

Jubilant Life Sciences: The company said it plans to invest about Rs 550 crore in capital expenditure in the current financial year to meet the increased demand in its businesses.

HCL Technologies: The IT major said that it has completed the acquisition of engineering services provider H&D International.

PNB: Former Reserve Bank of India (RBI) deputy governor KC Chakrabarty is under scrutiny by the Central Bureau of Investigation (CBI) over his alleged “indiscretions” as chairman of Punjab National Bank (PNB), said one of several people with knowledge of the matter.

Sun Pharma: The drug maker expects its India business to stabilise in the current fiscal leading to “reasonable volume growth” after witnessing disruptions in 2017-18 due to GST implementation, a top company official said.


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Here's a look at the top stocks that may hog the limelight in today's session.

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