Stocks to Watch: Adani Enterprises, DLF, Bank of Maharashtra, Lupin, Ipca Laboratories, Minda, RattanIndia among others
Stocks to Watch: Adani Enterprises, DLF, Bank of Maharashtra, Lupin, Ipca Laboratories, Minda, RattanIndia among others

This week again insurance companies stocks may be in focus.

Other than insurance, other stocks in focus are:

Adani Enterprises Ltd (AEL): The company said it has incorporated a wholly-owned subsidiary, Adani Cement Industries Limited (ACIL), to manufacture all types of cements. The company said it incorporated the wholly-owned subsidiary on June 11, 2021 and the subsidiary company has yet to commence its business operations. The new company will carry on business as manufacturers, producers, processors of all types of cements. ACIL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 11th June, 2021, and is yet to commence its business operations.

Steel Authority of India: State-run company is set to "dissolve" its raw material division headquarters in Kolkata, sources said on Saturday, a decision that would deal a blow to contractual employees associated with the unit.

DLF: Realty major aims a 30 per cent jump in its sales bookings to Rs 4,000 crore this fiscal, as the company expects a rise in housing demand despite the COVID-19 pandemic. It also said that its rental arm DCCDL will be completely ready in the next one year for launch of Real Estate Investment Trust (REIT) but the timing of public issue will be decided by its shareholders based on market conditions.

Sun Pharma: The pharma company has no immediate plans to enter into vaccine production as getting into the vertical would require an altogether different manufacturing set-up, as per a top company official.

Religare Enterprises Ltd (REL): The company on Saturday said stock exchanges have removed Malvinder Mohan Singh and Shivinder Mohan Singh from promoters and promoter group category on the request of the company.

Lupin: Pharma company stated that the company’s Somerset, New Jersey (USA) facility has received a warning letter from the United States drug regulator, the company said in its filing. The company added this letter will not hurt supplies from the facility.

Bank of Maharashtra: State-run bank is looking to raise up to Rs 2,000 crore through qualified institutional placement (QIP) route before July-end, its Managing Director and CEO A S Rajeev said. In April this year, the Pune-based lender had received board approval to raise Rs 5,000 crore by way of QIP/rights issue/ preferential issue or by issuing Basel III bonds.

Reliance Infrastructure: In a meeting held on Sunday, the board of directors of Reliance Infrastructure Limited (Reliance Infra) approved the subscription of preferential issue of up to 59.5 crore equity shares and up to 73 crore warrants convertible into equivalent number of equity shares of Reliance Power Limited (Reliance Power). This move is expected to create high value for approximately 8 lakhs shareholders of Reliance Infra.

RattanIndia: RattanIndia -Revolt Intellicorp (Revolt), a company into electric vehicle (EV) bikes, stated that the company may receive an incentive of Rs 48,000 per bike that Revolt sells, due to the revised Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) scheme.

Ipca Laboratories: Pharmaceutical company has acquired an additional 13.09 per cent in Mumbai-based Trophic Wellness Private limited (TWPL), a company into nutritional and wellness products. TWPL now becomes the subsidiary company of Ipca Laboratories, stated the company informed exchange.

Minda: Auto components manufacturer reported 32 per rise in profit after tax (PAT) in FY 2021 at Rs 248 crore as against Rs 188 crore in FY 2020. In Q4 FY 2021, the company reported a surge of 779 per cent in PAT, from Rs 19 crore in Q4 FY20 to Rs 164 in Q4 FY21.

Ruchi Soya: Edible oil firm which is owned by Baba Ramdev-led Patanjali Ayurveda, has filed draft document with SEBI to launch a follow-on public offer (FPO) for raising up to Rs 4,300 crore.

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