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Stocks in the news: HG Infra, Cadila Healthcare, Talwalkars Healthclubs, IHCL and Allahabad Bank

NEW DELHI: Nifty futures on the Singapore Exchange traded 30 points, or 0.25 per cent, higher at 12,223.50, indicating a firm start for Dalal Street. Here are a few stocks which may buzz the most in today’s trade:

Cadila Healthcare: Zydus Cadila, a group company of listed drug-maker Cadila Healthcare, is in preliminary talks with several strategic and private equity investors to sell two of its divisions — anti-infectives and gynaecology — for about Rs 1,000-1,200 crore, seeking to lower debt and strengthen its balance sheet.

HG Infra: HG Infra Engineering said it has bagged a highway project worth Rs 522 crore in Haryana from the National Highways Authority of India (NHAI).

PSU banks: Finance Minister Nirmala Sitharaman will hold a meeting with heads of public sector banks on Saturday to review financial performance of the lenders and their business growth, sources said.

Vodafone Idea: The telecom operator is believed to have put its fresh 4G expansion and modernisation plans on hold to conserve money to meet a late January deadline to pay up thousands of crores in statutory dues, people familiar with the matter said.

Allahabad Bank: State-owned Allahabad Bank said it will get a fresh capital infusion of Rs 2,153 crore from the government in the current financial year.

Mahindra & Mahindra: Korean subsidiary SsangYong Motor Company has started preliminary talks with a couple of global auto majors to explore strategic partnership and investment as it looks to revive its bottomline, people close to the development said.

Talwalkars Healthclubs: In a major setback for Talwalkars Healthclubs, the Bombay High Court has ordered the appointment of a court receiver to sell equipment from about 50 gyms of the company after Tata Capital approached the court to recover dues.

Greaves Cotton: Engineering firm Greaves Cotton’s multi-brand spares and service arm Greaves Care will provide service support to TVS three-wheelers under a strategic pan-India partnership, the company said on Thursday.

Icra, Care Ratings: Sebi has imposed a penalty of Rs 25 lakh each on credit rating agencies ICRA,CARE Ratings, and India Ratings and Research for their failure to exercise proper skill and due diligence while assigning credit rating to the nonconvertible debentures and commercial papers of IL&FS.

IHCL: Hospitality major Indian Hotels Company (IHCL) announced the signing of a management contract with Skipping Stones for a 50-room Vivanta hotel in Gangtok, Sikkim, according to an official release.

PFC, REC: The government is considering extending loans from Power Finance Corp and Rural Electrification Corp to state power distribution companies to help them clear their dues to power generation plants.

Thermax: Ambit Capital has initiated coverage on Thermax with a buy rating and target price of ₹1,211. Thermax is no longer a play on domestic private capex cycle with international business now contributing 45% to overall consolidated revenue, said Ambit.

Bharti Infratel: Kotak Institutional Equities has maintained reduce rating on Bharti Infratel with a fair value of ₹275. Long stop date pertaining to Bharti Infratel-Indus merger got extended further to February 24, 2020 on account of pending regulatory approvals.

JSW Steel: Antique Stock Broking has maintained hold rating on JSW Steel with a target price of ₹277. JSW Steel is likely to witness flat steel spreads sequentially in third quarter of FY20 as the decline in steel prices in October 2019 and reset of half yearly automotive contracts at lower levels would impact the quarter, said Antique.

Source: Economic Times