Top Stocks in Focus Today 24-03-2021

  • Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021. The price hike has been necessitated to partially offset the impact of increased commodity costs.

  • Tata Communications: Panatone Finvest Limited have acquired 2,85,00,000 equity shares of the face value of Rs10 each (“Equity Shares”) of Tata Communications Limited (the “Target Company/TC”), representing 10.00 % of the total issued and paid-up equity share capital of the Target Company from the President of India (as represented by and acting through the Ministry of Communications, Government of India) (“GoI”) via an off-market transfer of shares.

  • Govt will sell 20,85,02,010 equity shares of Rail Vikas Nigam or 10% of total paid-up equity, via the offer for sale route on March 24-25. In case of oversubscription, the government will sell additional 10,42,51,005 equity shares or 5% shareholding in the company.

  • Rossari Biotech approved issuance of 30,12,046 equity shares on a preferential basis, at a price of Rs 996 per equity share. The company raised nearly Rs300cr through preferential issue to SBI Mutual Fund, Ramesh Siyani, Arpit Kbandelwal, Malabar Select Fund, Malabar India Fund, Malabar Value Fund and India Acom Fund.

  • Zensar Technologies announced that it reinforced its support to Tomorrow Trust by enabling local students to learn and develop their skills.

  • Equitas Small Finance Bank renews partnership with Chennai Super Kings for IPL 2021.

  • India Ratings & Research has placed India Glycols’ Long-term Issuer Ratings of ‘A-’ on Rating Watch Positive (RWP).

  • Vascon Engineers has emerged as lowest bidder for 2 projects of Uttar Pradesh Public Works Department.

  • CARE retained credit rating of Laurus Lab long-term banking facilities as 'AA-‘, but revised outlook to Positive from Stable.

  • ICRA has upgraded long-term rating from AA- to AA on bank facilities of Deepak Nitrite. The outlook on the long-term rating has been revised from Positive to Stable.

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