Stocks to watch: Srei Infra, ICICI Lombard, HFCL, Rail Vikas, Paras Defence

Nifty futures on SGX were down 108 points at 17,602 around 8.40 am, indicating a gap-down start for the benchmark indices on Tuesday.

Here are the top stocks to track in today's session:

Srei Infra Finance: The Reserve Bank of India (RBI) on Monday superseded the boards of Srei Infrastructure Finance and Srei Equipment Finance, which will be taken for insolvency proceedings owing to governance concern and payment defaults by them. This is the second instance of the RBI superseding a finance firm’s board. READ MORE

ICICI Lombard General Insurance: French insurance firm Axa S.A., to sell around 175 crore shares of ICICI Lombard via block deal on October 5.

Adani Ports: The company is set to enter the maritime sector in West Bengal as it emerged as the top bidder for operating a berth at Haldia Dock Complex, an official said on Monday.

Info Edge: The company has invested an additional Rs 15 crore, through its wholly-owned subsidiary, in 4B Networks. This investment is in exercise of a right available to the company to subscribe 4,245 additional securities for an amount of up to Rs 15 crore, it said in a regulatory filing.

HFCL: Domestic telecom gear maker HFCL on Monday said it has bagged an order of Rs 286.96 crore from RailTel Corporation for setting up a data communication network for the defense forces. The order is to be executed within a year, HFCL said in a regulatory filing.

MGL: Following the steep 62 per cent hike in prices of domestically produced gas announced by the Centre last week, Mahanagar Gas on Monday increased the retail price of compressed natural gas (CNG) and piped natural gas (PNG) by Rs 2 each with immediate effect.

Rupa & Co: Knitwear major Rupa & Co Ltd on Monday said the company will merge its wholly-owned premium brand subsidiary Oban Fashions with itself. Launched in 2018, Oban Fashions has international brands FCUK and Fruit of the Loom under its fold and expects the revenue to reach Rs 40 crore in the current fiscal.

Hindustan Zinc: Vedanta group firm Hindustan Zinc on Monday said its mined metal production increased by 4 per cent to 2,48,000 tonnes in the second quarter of the ongoing fiscal. The company's mined metal production was at 2,38,000 tonnes in the year-ago period.

Macrotech Developers: Realty firm Macrotech Developers on Monday said properties worth Rs 1,100 crore were sold last month in one of its projects in London and it expects to sell all inventories before 2023-24 fiscal year.

Zee Entertainment Enterprises: Invesco Developing Markets Fund said at the National Company Law Tribunal that Zee's decision to reject EGM requisition was 'mala fide' and that their apprehensions about CEO Puneet Goenka had been proven right. The NCLT will continue the hearing on Tuesday.

Aditya Birla Money: Market regulator SEBI has imposed a Rs 1 crore fine for violation of norms. According to SEBI's adjudication order, Aditya Birla Money did not have aduequate systems and internal controls to ensure due diligence in the conduct of its business with clients. In addition, it said that the stockbroker misled clients by understating losses and overstating profits.

Rail Vikas Nigam: Company entered into a memorandum of understanding with Tata Steel Ltd. for implementation of infrastructure projects either on nomination basis or through special purpose vehicle route. 

M&M Financial Services: Total disbursement in Q2FY22 stood at Rs 6,450 crore, up 60 per cent YoY. Company said that subject to improvement in auto supply chain, it is hopeful of good Q3, supported by festival season and harvest cashflow. 

GHCL: CRISIL Ratings has assigned AA- rating with stable outlook to GHCL for issuance of non-convertible debentures (NCD) of Rs 150 crore, which may be issued within a period of 180 days.

Paras Defence and Space Technologies: ICRA has assigned 'A-' rating to the cash credit facility on long term scale, obtained from Kotak Mahindra Bank and the outlook is Stable.

JSW Energy: The company has signed a contract with Senvion India, a leading manufacturer of wind turbines, for procurement of 591 MW of onshore wind turbines for the company's under-construction pipeline of renewable energy projects.