Stocks to watch: Banks and Nbfcs, M&m, Sonata Software, Ntpc, Dr Reddy’s, Sobha


Here is the list of the top 10 stocks that will be in the spotlight on Friday:

Banks and financials: Lenders will be the center of attention as the RBI announces its decision on key interest rates on Friday. Analysts mostly expect the central bank to hold its key rates, but say it could change its dovish stance.

Mahindra and Mahindra: The automaker said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors Co had been terminated. SsangYong’s receiver cited Edison’s failure to deposit the bid amount for termination of the deal, Mahindra said in an exchange filing.

NTPC: The Maharashtra government has approved a joint venture between state-owned MahaGenco and India’s largest power producer NTPC, which will set up an ultra-mega solar park with a total generation capacity of 2,500 MW.

Dr. Reddy’s Laboratories: The drugmaker has received approval from the National Company Law Tribunal (NCLT), Hyderabad Bench for the proposed merger of Dr Reddy’s Holdings, an entity owned by the promoter group, which owns 24.83% of Dr. Reddy’s shares Laboratories in society.

Sobha Ltd: The company achieved a total sales volume of 1.34 million square feet and a recorded sales value of 11.10 billion in Q4. Cash flow remained healthy during the quarter, leading to a further reduction in net debt. The average cost of borrowing decreased further during the quarter.

HDFC Bank: Chief Technology Officer Ramesh Lakshminarayanan said the bank’s main focus will be to ensure front-end synergies, and it will also look at an IT platform to acquire and serve customers of both entities. He said the merger provides an opportunity to sell both HDFCs and HDFC bank products.

Axis Bank: Citibank staff who choose to join Axis Bank will benefit from compensation structures similar to those they get now, while some have had the opportunity to apply for positions in Citi verticals that are not sold, said two people aware of the plans.

Sonata software: The company’s Board of Directors has approved the appointment of Samir Dhir as Chief Executive Officer effective April 8. Current CEO Srikar Reddy is stepping down voluntarily but will continue as the company’s managing director.

Investment and financing of Cholamandalam: The company spent approximately 12,718 crore in Q4FY22, up 58% from a year ago. Collection over invoicing efficiency improved across all product segments and stood at 138% in Q4FY22 compared to 120% the previous year.

Infosys: The IT company and Rolls-Royce have extended their strategic collaboration with the launch of the “Aerospace Engineering and Digital Innovation Center in Bengaluru”. This center will provide Rolls-Royce with high-end research and development (R&D) services integrated with advanced digital capabilities.

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