GE Power, ICICI Bank, Axis Bank and Dr Reddy's among top stocks to watch

At 08:32 am, Nifty futures on the Singapore Exchange (SGX) were trading 43 points or 0.35 per cent lower at 12,075, indicating a negative start for the Nifty50 index back home. Here's a look at the top stocks that may remain in focus today -

ICICI Bank, Axis Bank: Global rating agency Fitch said Monday it has downgraded two leading private sector lenders ICICI Bank and Axis Bank as the banking sector of the country remains under stress. The performance of India's banking sector is expected to be below-average over the next one to two years despite high growth prospects, it said.

Dr Reddy's: Dr Reddy's Laboratories said Monday it has re-launched its generic Zenatane capsules in the US market. The product is being launched with an approved Risk Evaluation and Mitigation Strategy (REMS) Program, the company said.

L&T Tech: The company's promoter L&T will sell up to 4 million shares of company via OFS on June 4 and 5, according to news reports. The floor price has been set at Rs 1,650 per share.

GE Power: GE Power India on Monday said it has bagged a contract worth Rs 738 crore from Aravali Power Company.

Future Retail: The company has alotted non-convertible debentures (NCDs) aggregating Rs 199 crore on a private placement basis.

Wipro: The IT services company has fixed June 21 as the record date for the buyback offer. 

M&M: Mahindra Susten, a leading player in the Indian solar energy sector, has entered into a partnership with Mitsui & Co., of Japan to jointly develop and operate distributed solar power generation projects in India.

TCS: It has announced the release of TCS MasterCraft TransformPlus 4.0, a major upgrade of the product, with new cognitive features for analysis and modernisation of legacy applications, Captal Market reported.