RIL, Future Enterprises, PVR, Vedanta, HCL Tech


Here’s a list of the top ten stocks likely to make the news on Friday:

Future businesses: Reliance Retail Ventures Ltd to Acquire the Retail, Wholesale, Logistics and Warehousing Businesses of Future Group to 24,713 crore. The long-awaited agreement between RIL and Future Group got the green light on Saturday.

Reliance Industries: The all-cash transaction between RIL and Future Group was carried out on the basis of a collapsed sale. Reliance Retail has also offered to invest 1,200 crore in the preferential issue of the shares of Future Enterprises to acquire 6.09% of the stake after the merger, and 400 crore in a preferential issue of stock warrants.

Vedanta: The company has pledged its entire stake in subsidiary Hindustan Zinc Ltd (HZL) to help fund its delisting proposal. The transaction includes approximately 2.1 billion shares per non-transfer company and 6.26 billion shares in pledge.

Adani group companies: Adani Australia was ordered to pay four coal companies $ 106.8 million following a contract dispute over terminal access and handling charges for the coal terminal of Indian business group Abbot Point, in north Queensland, local media reported.

GAIL India: The state-owned company plans to expand into petrochemicals, specialty chemicals and renewables to complement the growth of its core natural gas marketing and transportation business, said chairman Manoj Jain.

HCL Technologies: The company’s U.S. subsidiary is facing a patent infringement claim related to one of its software, according to The Economic Times. HCL America must respond to the lawsuit filed by Texas-based company Coretek Licensing by September 28.

PVR: Although the Center has allowed open-air theaters to resume operations from September 21 under the Unlock 4.0 guidelines, movie theaters, amusement parks and similar venues will remain closed.

Stainless steel leisure: The company has reportedly decided to invest in open-air theaters slated for release by the end of 2020 or early 2021, but the immediate pain persists as traditional cinemas remain closed for the time being, per government Unlock 4.0 guidelines.

Indiabulls Ventures: The company will grow 588 crores (or $ 80 million) from a sale of preferred shares to a group of investors led by US fintech investor Ribbit Capital.

Jet Airways: Yes, the Bank has initiated the process to classify Naresh Goyal, the founder of the airline, and his wife Anita as “voluntary missing”. Goyal likely told Yes he was not involved in the loans, sources told The Economic Times.

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