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Stocks in the news: IndusInd Bank, Kotak Mahindra Bank, Nestle, YES Bank, and Vedanta – Economic Times

Nifty futures on the Singapore Exchange traded flat at 11,935, in signs that Dalal Street was headed for a tepid start on Monday. Here are a few stocks which may buzz the most in today’s trade:

Earnings today: Kotak Mahindra Bank, SBI Life Insurance, Max Ventures, Finolex Industries, Angel Broking and Torrent Pharma are slated to announce their financial results for September quarter on Monday.

IndusInd Bank: Kotak Mahindra Bank, backed by Asia’s richest banker, is exploring a takeover of smaller Indian rival IndusInd Bank, people with knowledge of the matter said, a move that would create the nation’s eighth-largest financial firm by assets.

Sterlite Technologies: Data network solutions provider Sterlite Technologies has decided to “fast track” its planned augmentation of optical fibre cable capacity, buoyed by the order book and demand funnel, as it looks to undertake expansion in two phases, possibly at lower costs, according to reports.

Vedanta: The company on Saturday said its board has approved the first interim dividend of Rs 9.50 per equity share for the current fiscal amounting to Rs 3,500 crore. The announcement has come days after the failed delisting offer of the metal to mining conglomerate.

Bajaj Auto: Bajaj Auto is witnessing a strong revival in various export markets, including Africa and Latin America, as they were not hit as hard by the Covid-19 pandemic and subsequent lockdowns as the domestic market, PTI reported quoting a senior company official.

BSE: Stock exchange BSE on Saturday said it has signed an agreement with Inventivepreneur Chamber of Commerce and Industries (ICCI) to support small and medium enterprises (SMEs) and start-ups, and promote their listing on the exchange.

JK Cement: The company inaugurated its new grey cement grinding unit at Balasinor in Gujarat’s Mahisagar district with a manufacturing capacity of 0.7 million tonnes per annum (mtpa). The plant, spread over an area of eight hectares, has been set up at a total project cost of Rs 200 crore.

IL&FS Group companies: Debt-laden Infrastructure Leasing and Financial Services (IL&FS) Group, which had earlier estimated to address debt of around Rs 8,800 crore in the second quarter of FY21, on Saturday said it has been able to address debt of just around Rs 1,460 crore during the period due to Covid-19 related delays.

The group said the Rs 7,300-crore shortfall in the September target has been rolled over for achievement in subsequent quarters.

YES Bank: The private lender on Friday reported a net profit of Rs 129.37 crore, helped by a decrease in operational expenses and widening of margins on a much lower loan book. YES Bank had posted a net loss of Rs 600 crore in the corresponding quarter of previous fiscal.

Nestle India: FMCG major Nestle India announced its plans to invest Rs 2,600 crore over the next three to four years to augment its manufacturing capacity in the country, terming the move as “vindication of confidence and trust” the company has in its India journey.

ICICI Lombard: ICICI Lombard General Insurance reported a 35 per cent growth in September quarter net profit at Rs 415.74 crore, despite the losses due to natural calamities and mounting claims from the COVID-19 pandemic. Total income rose to Rs 2,883.40 crore during the quarter from Rs 2,739.67 crore a year ago, the company said.

Tech Mahindra: IT company Tech Mahindra said it will acquire a complete stake in New Zealand-based Tenzing Group and Australian IT firm Momenton for a cumulative amount of around Rs 293 crore. The company will acquire Auckland-headquartered consulting firm Tenzing Group for about Rs 218 crore and Melbourne-based cloud and engineering services firm Momenton for about Rs 75 crore.

NTPC: Markets regulator Sebi on Friday granted exemption to state-run NTPC from certain buyback norms for the proposed merger of wholly-owned subsidiaries with the parent company. In October, NTPC had filed an application with the Securities and Exchange Board of India (Sebi) to seek exemption from the strict enforcement of the buyback norms.

Tata Motors: Tata Motors said it has secured an order from the Andhra Pradesh Civil Supplies Corporation for supply of 6,413 Tata Ace Gold vehicles.