Stocks to Watch: Cement stocks, Dr. Reddy’s, Hero MotoCorp, Jet Airways – Mint

Home >Markets >Stock Markets >Stocks to Watch: Cement stocks, Dr. Reddy’s, Hero MotoCorp, Jet Airways

NEW DELHI: Here are top ten stocks to watch out for on Wednesday.

Cement stocks: The price of cement has improved across India in June. The latest dealers channel check by Kotak Institutional Equities showed that all-India prices rose 4% to 376 per 50-kilogram bag, on a month-on-month (m-o-m) basis. This was led by an 11% m-o-m rise in prices in southern India to 415 per bag.

Dr. Reddy’s Laboratories: The company has announced the launch of Icosapent Ethyl Capsules, 1 gram approved by the US Food and Drug Administration (USFDA). It is approved as an adjunct to diet to reduce triglyceride (TG) levels in adult patients with severe hypertriglyceridemia.

Hero MotoCorp Ltd: The country’s largest two-wheeler manufacturer has decided to increase prices of its motorcycles and scooters by up to 3,000 as a result of sustained increase in prices of commodities like steel, copper and others.

HPL Electric & Power Ltd: has received approval from private discoms to install its new range of smart meters with Narrow Band-Internet of Things (NB-IoT) communications technology. The meters are both 4G and 5G compatible, the company said in a regulatory filing.

Jet Airways: The Mumbai bench of the National Company Law Tribunal has approved the resolution plan submitted by the Kalrock Capital and Murari Lal Jalan consortium subject to further approvals. The airline has been undergoing an insolvency resolution process for nearly two years

KPIT Technologies: stock was trading at 251.15 apiece, up 5.08% at 1:35 pm. The company will acquire a controlling stake in PathPartner Technology, a specialist design service and solution provider of operating system software and low-level software for automotive, camera, radar, and multimedia devices, KPIT Tech said in a regulatory filing.

NMDC Ltd: India’s largest iron ore producer, NMDC on Tuesday said its profit after tax for the quarter ended 31 March was 708% higher at 2,838 crore compared to 351 crore during the same period last fiscal. During the fourth quarter of the last fiscal, turnover stood at 6,848 crore compared to 3,187 crore in the same quarter in FY20, the iron ore miner said.

Peninsula Land Ltd: The company’s board cleared the issue of non-convertible debentures worth 600 crore in one or more tranches within one year for private placement. The coupon will be determined individually for each tranche, the company said.

PNB Housing Finance: Punjab National Bank, the controlling shareholder of PNB Housing Finance Co. Ltd, is likely to have vetoed the mortgage lender’s planned 4,000 crore fundraising from investors led by Carlyle Group at Tuesday’s voting, and will instead propose an alternative plan to raise capital, two people aware of the matter said.

Sun Pharma: The company has reached an agreement with Celgene Corp. (Celgene), a wholly-owned unit of Bristol Myers Squibb, to resolve the patent litigation regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Revlimid (lenalidomide capsules) in the US.

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