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Stocks in news: Reliance Industries, DRL, Ashoka Buildcon, ICICI Lombard and more

Stocks in news: Reliance Industries, DRL, Ashoka Buildcon, ICICI Lombard and more

On September 3, Sensex closed above the 58,000-mark for the first time. Sensex climbed 277 points to its lifetime closing high of 58,129. It touched a record of 58,194 on an intra day basis

Stocks in news: Reliance Industries, DRL, Ashoka Buildcon, ICICI Lombard and more Stocks in news: Reliance Industries, DRL, Ashoka Buildcon, ICICI Lombard and more

Indian benchmark indices are likely to open in the green today as SGX Nifty was trading 31 points higher at 17,391 amid positive global cues.

On September 3, Sensex closed above the 58,000-mark for the first time. Sensex climbed 277 points to its lifetime closing high of 58,129. It touched a record of 58,194 on an intra day basis.

Here are the stocks that are likely to be in focus today.

DRL: Dr. Reddy's Laboratories announced that it has entered into a definitive agreement with Citius Pharmaceuticals, Inc. ("Citius") pursuant to which it sold all of its rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets.

Reliance Industries Limited: Reliance Strategic Business Ventures Limited  (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited, has acquired 2,28,42,654 equity shares of Rs 10 each of Strand Life Sciences Private Limited for Rs 393 crore. The company will make another investment worth Rs 160 crore by March 2023.

The total investment, thus, will translate into 80.3 per cent of equity share capital in Strand Life Sciences on a fully diluted basis. Incorporated in India on October 6, 2000, Strand is a pioneer of genomic testing in India, with bioinformatics software and clinical research solutions to healthcare providers, including clinicians, hospitals, medical devices manufacturers and pharmaceutical companies.

Ashoka Buildcon: Highways developer Ashoka Buildcon on Saturday said it has received Rs 1,567.45-crore EPC contract from Adani Road Transport Ltd for a highway project in West Bengal.

In an exchange filing, Ashoka Buildcon said it received 'Letter of Award' from Adani Road Transport for execution of civil and associated works on engineering, procurement and construction (EPC) basis for six-laning a section of national corridor NH-19 from Pangarh to Palsit in West Bengal.

ICICI Lombard: Insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has granted the final approval for the demerger of the general insurance business of Bharti AXA General Insurance Company Limited to ICICI Lombard General Insurance Company Limited by way of a scheme of arrangement.

The company had earlier received regulatory and other approvals for the proposed scheme of arrangement among ICICI Lombard General Insurance Company Limited and Bharti AXA General Insurance Company Limited, and their respective shareholders and creditors under Sections 230 to 232 of the Companies Act, 2013, and Sections 35 to 37 of the Insurance Act, 1938.

Hero MotoCorp: Two-wheeler major Hero MotoCorp on Sunday said it has expanded its network for Harley-Davidson bikes and opened bookings for the next batch of adventure tourer bike Pan America 1250 after the first batch was completely sold out.

"Hero MotoCorp now has an expanded network of 14 full-fledged dealerships and seven authorized service centers across the country, exclusively for Harley-Davidson customers," the company said in a statement.

Published on: Sep 06, 2021, 9:15 AM IST
Posted by: Tanya Aneja, Sep 06, 2021, 9:12 AM IST