STOCKS ON RADAR:
Dr Reddy’s Labs: Duvvada plant gets a VAI (Voluntary Action Indicated) status from USFDA, receives EIR for Duvvada facility from the regulator.
Tech Mahindra: Board to consider buyback of shares on February 21. The company has also withdrawn scheme application filed with National Company Law Tribunal for the proposed scheme of Merger by Absorption between subsidiary Tech Mahindra Growth Factories Limited with the company.
Jet Airways: The airline is likely to receive fund infusion worth over Rs 3,000 crore post debt-rejig and investments by Etihad Airways as well as National Investment and Infrastructure Fund (NIIF), according to reports.
ADAG Group stocks: The lenders to the Anil Ambani-led Reliance group have agreed not to sell pledged shares in the group till September.
YES Bank: The lender, which faces regulatory action from the Reserve Bank of India (RBI) for selective disclosures of the confidential risk-assessment report (RAR), may now face probe by the Securities and Exchange Board of India (Sebi) because the bank?s revelation led to heavy buying in the stock on Thursday.
Vodafone-Idea: Vodafone Idea is likely to mop up about Rs 20,000 crore from its proposed stake sale in mobile tower firm Indus Tower and monetisation of optical fibre assets, Business Standard reported citing sources.
Bharti Airtel: The telcom company is looking at a multi-vendor approach to manage its information technology (IT) infrastructure, apart from insourcing part of its technology operations. Its outsourcing contract with IBM worth around $1 billion comes up for renewal this year.
Indian Oil Corp: The Expert Appraisal Committee under the Environment Ministry has given “green signal” to Indian Oil Corporation Ltd for setting up a grass root petroleum storage and distribution terminal in Telangana.
DHFL: Private equity firms Baring, Bain and Hero Fincorp are in talks to buy a 10 per cent stake in Dewan Housing Finance Corp (DHFL), according to a report by The Economic Times.
Wipro: Markets regulator Sebi on Friday granted certain exemptions to Wipro from the buyback norms in case of the IT firm’s proposed share repurchase programme, according to an order by the watchdog.