Stocks to watch: Cipla, Bandhan Bank, LVB, IBHFL, DHFL, Reliance Nippon

At 08:34 am, Nifty futures on the Singapore Exchange (SGX) were trading 9 points or 0.08 per cent lower at 11,576, indicating a muted start for the Indian market on Monday. 

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

Peninsula Land: Brickwork has downgraded the rating for debentures of Peninsula Land, real estate unit of the Ashok Piramal Group, from “A” to “BBB-“. It also revised the outlook from “stable” to “negative”.

Reliance Anil Dhirubhai Ambani Group stocks may remain in focus today as the companies will hold their annual general meetings (AGMs) today in Mumbai starting 10 am. Anil Ambani will address the meetings of all the companies, except the bankrupt RCom which will be addressed by the resolution professional. 

Cipla: Cipla announced that the United States Food and Drug Administration (USFDA) conducted a cGMP inspection at its Goa manufacturing facility from 16-27 September 2019. The inspection ended with 12 observations, none of which are related to data integrity.

Reliance Nippon: Reliance Nippon Life Asset Management announced that the transaction contemplated under the Share Purchase Agreement executed amongst Nippon Life Insurance Company (Nippon), Reliance Capital (RCL), and Reliance Nippon Life Asset Management (Company) on 23 May 2019 has been completed on 27 September 2019 in accordance with the provisions of the Agreement.

HDIL: PMC Bank helped real estate developer Housing Development & Infrastructure (HDIL) pay off loans of other public sector banks (PSBs) under one-time settlement schemes, so that the promoters could retain control over the real estate company. READ MORE

HDFC Bank, IndusInd Bank: The Reserve Bank of India (RBI) may not give an extension to Romesh Sobti and Aditya Puri — the helmsmen at IndusInd Bank and HDFC Bank — after their current terms end, said a Business Standard report.

DHFL: Lenders may convert part of Dewan Housing Finance Corp. Ltd’s debt into 51 per cent equity while nonbank entities such as mutual funds face losses of 40 per cent or more, said a report by The Economic Times. 

Indiabulls Housing Finance, LVB: The Reserve Bank of India (RBI) has initiated Prompt Corrective Action against Lakshmi Vilas Bank Limited, the bank told the bourses on Friday. 

Glenmark: Glenmark Pharmaceuticals is set to reward its shareholders after monetisation of its innovative and bulk drug business units, in a year, the company said.

Bandhan/Gruh: Bandhan Bank announced that the National Company Law Tribunal, Kolkata Bench has sanctioned the Scheme of Amalgamation of GRUH Finance into and with the Bank on 27 September 2019.

Kajaria Ceramics: Kajaria Ceramics announced that Kajaria Tiles (formerly known as Kajaria Floera Ceramics ), a wholly-owned subsidiary of the Company, will start the commercial production of tiles on 29 September 2019 at its manufacturing facility situated in Chittoor district, Andhra Pradesh. 

IDBI Bank: The lender informed the stock exchanges that its board has granted in-principle approval to divest the bank’s entire 19.18 per cent stake in Asset Reconstruction Company (India) Ltd (ARCIL).