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Stocks to watch out for today: Sun TV, Nestle India, M&M

Stocks to watch out for today: Sun TV, Nestle India, M&M

The following stocks were in news in Tuesday's trade.

Photo: Reuters Photo: Reuters

The major stocks were in focus for Tuesday's trade on the BSE and NSE:

  • Nestle India:  FSSAI isn't likely to appeal against the Bombay High Court decision setting aside the ban on Maggi noodles. On the other hand the apex consumer court in the country, National Consumer Disputes Redressal Commission  issued notice to Nestle India on the Rs 640 crore suit, filed against it by the Ram Vilas Paswan-headed ministry of consumer affairs alleging unfair trade practices, false labelling and misleading advertisements in the marketing of Maggi. Stock was up half a per cent closing at Rs 6,167.60.
  • Sun TV: Government has decided to challenge the decisions of the Madras and Delhi High Courts allowing Kalanithi Maran promoted Sun Group to participate in the FM radio phase-III auction. Stock traded in the red mostly to close almost 4.5 per cent down at Rs 347.85.
  • Reliance Communications : The telecom operator said it has received non-binding bids from a number of interested buyers for the sale of a majority stake in Reliance Infratel, its tower unit. The company said sale proceeds from the proposed transaction was expected to reduce its overall gross debt during the current financial year substantially. Stock was down at Rs 61.20 almost 1.6 per cent down.
  • Mahindra & Mahindra Ltd: Stock was up at Rs 1,366.5 almost one per cent up at close.The auto major has received shareholders' approval to raise up to Rs 5,000 crore through issuance of securities on private placement basis in domestic and international markets.
  • Religare Enterprises: The Reserve Bank of India has cancelled certificate of registration for 7 NBFCs including Religare Finance.Mostly traded flat despite the news, was up just about half a per cent at Rs 305.75.