Stocks to watch: ICICI Bank, Axis Bank, Coal India, Cipla, Dilip Buildcon

NEW DELHI: Here are the top 10 stocks that could be in the spotlight on Monday:

ICICI Bank, Axis Bank: Moody’s Investors Service has updated the core credit ratings of ICICI Bank and Axis Bank, reflecting improving credit fundamentals, particularly asset quality. The global rating agency has updated the base credit ratings (BCA) from baa3 to ba1.

Coal India: The state-owned mining company is diversifying into aluminum production, solar power generation and coal gasification as it seeks to decarbonize its operations. The company is awaiting certain clearances for its planned new integrated aluminum project in Odisha. A government panel chaired by Chief Minister Naveen Patnaik approved the project in December.

SpiceJet: A SpiceJet plane bound for Delhi caught fire on Sunday taking off from Patna airport and made an emergency landing a few minutes later. All 185 passengers on board were safe and sound. The General Directorate of Civil Aviation (DGAC) will investigate the case.

telcos: Reliance Jio, Bharti Airtel and Vodafone Idea have asked the telecom department to ensure that 5G captive networks meet rules and regulations regarding quality of service, security, allow lawful interception by law enforcement , among others, while remaining isolated from commercial networks and are implemented only by end-user companies instead of intermediaries and system integrators.

cipla: The pharmaceutical company announced that it has signed definitive agreements to acquire a 21.05% stake in Achira Labs Pvt Ltd for 25 crores. The latter is engaged in the development and marketing of point-of-care (PoC) medical test kits in India.

L&T Finance Holdings: Apollo Global Management is in advanced talks with L&T Finance Holdings to acquire the value of its home loans 8,000 to 9,000 crores. The L&T Group company is looking to pivot to the retail segment by reducing its infrastructure and exposure to real estate.

Aurobindo Pharmacy: The pharmaceutical major has acquired a 51% stake in GLS Pharma, which operates in the field of oncology and has a manufacturing plant in Hyderabad. The acquisition cost was 28.05 crores.

Dilip Buildcon: Dilip Buildcon’s joint venture RBL-DBL has been declared the lowest bidder for the Surat Rail Metro project in Gujarat. The order is worth 1,061 crores. The company has also received the Certificate of Completion for two road projects in Karnataka.

Nazara Technologies: The company has decided to make a new strategic investment of up to 20.1 crore in hardware subsidiary Absolute Sports by acquiring shares in promoter Porush Jain and up to 10 crore in Brandscale Innovations by subscribing to debentures potentially convertible into one or more tranches.

L&T Infotech: The merger process of Larsen & Toubro Infotech and Mindtree is expected to be completed by December, and during this period the two companies will continue to operate independently. The two subsidiaries of Larsen & Toubro announced a mega-merger last month to create an efficient, large-scale IT services provider, exceeding $3.5 billion in combined revenue.

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