Here’s a list of top ten stocks that may be in news on Wednesday:
Lakshmi Vilas Bank: The banking regulator on Tuesday seized control of the struggling Lakshmi Vilas Bank (LVB) and forced a merger with the local unit of Singapore’s largest lender DBS Bank. The government, on the request of the RBI, has capped deposit withdrawals at ₹25,000 at LVB for a month.
Indiabulls Housing Finance: The Reserve Bank of India shot down the shadow banker’s proposal to merge with Lakshmi Vilas Bank in October last year because of its high exposure to realty sector. The mortgage lender holds 4.99% in LVB.
Private sector banks: Shares of non-PSU banks will come under selling pressure amid rising concerns over the financial health of these lenders following the LVB issue. This is the third time in little more than a year that RBI has seized control of a private bank. The other two were PMC Bank and Yes Bank.
Larsen & Toubro: Engineering major has delivered the first hardware–a booster segment–for the Gaganyaan Launch Vehicle to ISRO ahead of schedule, despite COVID-19 restrictions.
Tata Steel: HDFC AMC has reduced its shareholding in the company to 2.96% from 5.02% previously. The company has also evinced interest in acquiring stake in Odisha-based steel maker Neelachal Ispat Nigam Ltd, a joint venture company in which four central PSUs — MMTC, NMDC, Bharat Heavy Electricals Ltd (BHEL) and MECON — and two Odisha government companies IPICOL and Odisha Mining Corporation (OMC) are shareholders.
DLF Ltd: Realty major has been recognised as an index component of the Dow Jones Sustainability Indices (DJSI) in the emerging markets category. This recognition demonstrates DLF’s track record for its governance, social and environmental initiatives.
Bharti Airtel: The telco has started deploying 4G technology in 900 megahertz band, which it was using for 2G services, across 10 telecom circles to enhance indoor coverage of the high-speed mobile telephony, according to sources involved in the process. The refarming of 900 Mhz spectrum band for 4G services is underway in six circles of Delhi, Kolkata, Andhra Pradesh, North East, Karnataka and Rajasthan.
Embassy Office Parks REIT: The real estate investment trust said it has agreed to buy Bengaluru’s Embassy Tech Village (ETV) business park from the trust’s sponsors for around $1.3 billion (around ₹9,782 crore). Embassy Reit’s sponsors include Embassy Group, Blackstone Group Lp and other shareholders.
Oil and Natural Gas Corp: The oil producer has signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector. Oil India Ltd signed up for the remaining four blocks awarded under the fifth bid round of Open Acreage Licensing Policy (OLAP).
Dewan Housing Finance: Lenders to troubled DHFL are looking at a repayment strategy for 55,000 fixed deposit (FD) holders as part of a resolution plan. According to the minutes of a meeting of the committee of creditors (CoC) held last week, the lenders are looking at various scenarios to distribute the proceeds of the funds received from the new investor.
