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Stocks to watch: SBI Life, Apollo Hospitals, Alkem Labs, Titan, Srei Infra

Here's a list of counters that may hog the limelight today -

SI Reporter  |  New Delhi 


At 08:40 am, Nifty futures on the Singapore Exchange (SGX) were trading 43 points or 0.39 per cent higher at 11,080, indicating a positive start for domestic indices on Thursday.

Here's a list of counters that may hog the limelight today -

SBI, SBI Life: SBI said it will raise up to Rs 3,465 crore by offloading up to 4.5 percent stake in SBI Life Insurance Co to bring down the promoter shareholding as per regulatory norms.

Apollo Hospitals: The promoter group family of Apollo Hospitals Enterprise (AHEL) will be issuing five million shares through secondary placement to raise around $101 million (Rs 720 crore).

Srei Infra: Kolkata-based non-banking lender Srei Infrastructure Finance (SIFL) is facing risks from weak asset quality, declined profitability, drop in capital adequacy ratio, and higher gearing (leverage). Brickwork Rating has downgraded the rating for debentures from "AA" to "A+". READ MORE

Mindtree: The new management of Mindtree is strengthening its leadership team by inducting senior executives from its parent, L&T Group companies, in critical roles like human resources (HR) and operations.

Alkem Labs: Alkem Laboratories has received Establishment Inspection Report (EIR) from USFDA for the Company's manufacturing facility located at St. Louis, Fenton Logistics Park, USA which was inspected from August 16, 2019 to August 22, 2019 and where the company received a Form 483 issued by the US FDA containing four observations.

Titan Company: The company informed bourses that ratings agency ICRA has assigned A1+ rating for its Rs 900 crore commercial paper. CLICK TO VIEW THE PRESS RELEASE

Kridhan Infra announced that its associate company Vijay Nirman Company has secured an order worth Rs 112 crore, for widening of Trumpet from 2 lanes to 4 lanes from Bengaluru City to Airport and back and other associated infrastructure work for Bengaluru International Airport.

Gujarat Alkalies: As per reports, the company's board may consider stock split in the next few days.

Reliance Nippon: The Rs 1,000 crore share sale in Reliance Nippon Asset Life Management witnessed more demand than shares on offer, on Wednesday. The offer for sale (OFS) got bids for 46 million shares from institutional investors as against 34.75 million shares on offer. Another 3.9 million shares reserved for retail investors will be auctioned on Thursday. READ MORE

Wipro: Azim Premji and other promoter group entities sold about 22.46 crore shares worth over Rs 7,300 crore during the Wipro buyback offer that closed last month.

Walchandnagar Industries: The company has secured an order worth Rs 77.20 crore plus escalation from the Vikram Sarabhai Space Centre of ISRO.

Texmaco Rail: Board to mull rights issue on September 13

Greenlam Industries announced that the company's expanded manufacturing capacity of laminates at Nalagarh, Himachal Pradesh is now operational.

MSTC: Adani Group has appointed MSTC as the selling agent to sell all surplus inventory and other equipments (excluding scrap) of entire Adani Group of companies. The agreement will remain valid till either party terminates the agreement by giving advance notice of three months to the other party.

First Published: Thu, September 12 2019. 08:43 IST