Here’s a list of the top ten stocks likely to make the news on Friday:
Banks and financial services: The Supreme Court ordered banks not to label loans that were standard as of August 31 as non-performing even in the event of default, until further orders. In addition, Finance Minister Nirmala Sitharaman has asked banks to roll out resolution plans for accounts affected by covid by September 15.
Reliance Industries: Private equity firm Silver Lake Partners is in talks to invest $ 1 billion in Reliance Retail, the Financial Times reported, citing sources. The investment would value RIL’s retail business at around $ 57 billion.
Vodafone idea: The mobile service provider’s board meets on Friday to consider fundraising options after the Supreme Court ordered all telecom operators to pay 10% of total adjusted gross revenue-related dues in 2020- 2021 and the rest in equal installments over 10 years, starting in fiscal year 22..
Infosys: The IT major has entered into a definitive agreement to acquire US product design and development company Kaleidoscope Innovation for up to $ 42 million. The acquisition is expected to close in the second quarter of fiscal 2021.
Tata Engines: Energy Efficiency Service Ltd, a joint venture between public sector units under the Ministry of Energy, announced the acquisition of 250 long-range electric vehicles (EVs) from the company as well as Hyundai Motor India, which will be used by government officials.
National Bank of India: The lender is likely to raise up to ₹4000 crore in perpetual bonds. It could offer an interest in the range of 7.40 to 7.5% for the near-cap securities likely to be the subject of an offer on Monday, reported The Economic Times.
InterGlobe Aviation: IndiGo, India’s largest airline, operated by the company, is betting big on the holiday season, trying to revive passenger demand following an increase in flight bookings as states relax travel restrictions.
Hindustan Aeronautics: The government has offered to offer 5.02 lakh shares to eligible company employees at a reduced price of ₹950.95 per share in a sell offer that will remain open from September 4 to 9.
CreditAccess Grameen: NBFC Board of Directors has approved the issuance of Equity Shares, Private Placement, FPO, Preference Issue, QIP and others, up to ₹1000 crore.
Housing Finance PNB: The mortgage lender is likely to lay off around 5-7% of its employees to streamline costs amid shrinking business, The Economic Times reported.