Grasim Ind, Ashok Leyland, RNAM, Cipla, Greaves Cotton top stocks to watch

At 08:40 AM, Nifty futures on the Singapore Exchange (SGX) were trading 66 points or 0.57 per cent higher at 11,745, indicating a gap-up opening for the Nifty50 index back home. 

Here's a look at the top stocks that may remain in focus today - 

Earnings today: Around 170 companies including Grasim Industries, Ashok Leyland, Bata India, and Indraprastha Gas are slated to release their March quarter results today. 

Reliance Nippon Life Asset Management: The company's promoter Reliance Capital will do an OFS (offer-for-sale) for 8.66 per cent of its stake in Reliance Nippon Life Asset Management (RNAM) at a floor price of Rs 218 per share. 

Ruchi Soya Industries: According to a news report by Blommberg Quint, CARE Rating has downgraded the long-term bank facility worth Rs 9,915.2 crore as ‘CARE D’. The reason behind this downgrade is that the issuer has not been co-operating.

Cipla: Drug firm Cipla Thursday said it has signed an agreement to acquire 26 per cent stake on a fully diluted basis in AMPSolar Power Systems Pvt Ltd for a cash consideration of up to Rs 12.90 crore.

Sun TV: South-based broadcaster Sun TV Network Thursday reported a decline of 2.30 per cent in its standalone profit after tax to Rs 283.07 crore for the fourth quarter ended March 2019.

Mindtree: Infrastructure major Larsen and Toubro (L&T) on Thursday acquired over 4.5 lakh shares of Mindtree from open market, taking its shareholding in the IT services firm to 26.93 per cent. 

Zuari Agro Chemicals said that ICRA downgraded both short term and long term funds worth Rs4,215 cr to ‘D’ on account of the company's cash credit account remaining over utilised for more than 30 days.

Radico Khaitan: Pollution Control Board has revoked the closure directions on Radico Khaitan’s Uttar Pradesh plant. The company said there has been no loss of production during this period due to the earlier closure directions.

MOIL: State-owned MOIL on May 23 said it targets a manganese ore production of 14.75 lakh tonne and a capital expenditure of Rs 210 crore in the current financial year.

Omax Autos: the company has entered into an ”Asset Purchase Agreement" With Hema Engineering Industries Limited for sale of its identified assets in Haryana. 

Greaves Cotton has modified it buyback plan. It said the number of equity shares to be bought back shall be up to 1,30,00,000 (which is within the limit prescribed by the Board of Directors at the Board Meeting), representing 5.32 per cent of the total number of equity shares in the paid-up share capital of the Company as at March 31, 2019.