“Stocks In Focus Today 08-09-2021” – Investelite Research

Banking stocks: India Ratings and Research has maintained a “stable” outlook on the overall banking sector for the rest of 2021-22 (April- March) on the back of continuing systemic support that has helped manage Covid-induced stress, strong capital and provision buffers.

Cipla: The pharma company has requested permission for a price hike on respiratory drugs from the government owing to a rise in input cost of a key component.

Coal stocks: Coal imports by India’s power plants fell to the lowest level in almost six years in July as top buyers Adani Power Ltd and Tata Power Co. Ltd slashed purchases amid soaring prices.

Dr Reddy’s Laboratories: The pharma company said it has initiated supply of the first dose component of Russian COVID-19 vaccine Sputnik V to partner hospitals all over the country.

Embassy Office Parks REIT: The country’s first listed real estate investment trust said it has raised ₹300 crore through a placement of listed and transferable non-convertible debentures (NCD) at a 6.80% quarterly coupon, from domestic investors, including insurance firms.

LIC HFL: India Post Payments Bank (IPPB) and LIC Housing Finance on Tuesday announced a strategic partnership for providing home loan products to over 4.5 crore customers of IPPB, the companies said in a press statement. Through its robust and extensive network of 650 branches and more than 136,000 banking access points, IPPB will make LICHFL’s home loan products accessible to its customer’s pan-India.

Multiplex stocks: The Multiplex Association of India (MAI), along with leading cinema chains PVR and INOX, on Tuesday urged the Maharashtra government to reopen theatres in the state on “urgent basis”, claiming that the exhibition industry has suffered losses to the tune of ₹4,800 crore. The coronavirus pandemic had an overwhelming effect on the film industry as many film shoots and theatres across India were halted twice.

Setco Automotive: The company will transfer its clutch manufacturing business into Setco Auto Systems Pvt. Ltd as part of a deal with India Resurgence Fund (IndiaRF), which will invest up to ₹615 crore in Setco Auto Sytems through a senior debt facility for a 35% equity stake. India RF is promoted by Piramal Enterprises Ltd and Bain Capital Credit.

Sterling and Wilson: The company’s promoters are eyeing stake sale in the solar power company, according to media reports. The promoters are in talks with foreign investors as well as Adani group and RIL, according to reports.

Telecom stocks: The Union cabinet may meet today to discuss a relief package for the troubled telecom sector, according to multiple media reports citing people with knowledge of the matter.

Were The Stocks In Focus Today 08-09-2021

Source: livemint

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