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Stocks to Watch: Reliance Industries, HDFC, banks, IIFL Finance, Bajaj Auto | Mint – Mint

NEW DELHI: Here is a list of stocks that could be in focus on Friday:

Reliance Industries: A consortium of Reliance Industries Ltd (RIL) and buyout firm Apollo Global Management Inc. has emerged as the strongest contender to acquire Walgreens Boots Alliance Inc.’s Boots pharmacies unit in the UK. The consortium has valued the assets in the range of $7-8 billion.

Banks: ICICI Bank, Bank of Baroda, Punjab National Bank, and Bank of India raised their external reference benchmarks, used largely for pricing retail loans, on Thursday, a day after the Reserve Bank of India increased its key rate for the second time in as many months to tame inflation. Mortgage lender HDFC has also announced that it will raise its Retail Prime Lending Rate (RPLR) on housing loans by 50 basis points, effective 10 June.

IIFL Finance Ltd: Abu Dabhi Investment Authority has agreed to pay 2,200 crore to acquire a 20% stake in IIFL Home Finance, a wholly-owned subsidiary of IIFL Finance, in one of the largest equity investments in the affordable housing finance segment in India. IIFL Home Finance will use the additional capital to continue its granular expansion strategy into new markets to address the significant and growing demand for housing loans.

Yes Bank: The new board of Yes Bank Ltd will decide on the capital raising plan that the private lender has been considering since last year. Sunil Mehta, the bank’s outgoing chairman, has said that the board initiated talks with potential investors to raise as much as 10,000 crore as part of the restructuring scheme. He also said the new asset reconstruction company would be formed by September.

Bajaj Auto: The two-wheeler maker has said that its board of directors on 14 June 14 will consider a proposal for buyback of fully paid-up equity shares of the company. This seems to be the first buyback announcement, if any, by the company since 2000.

Coal India: With power demand surging along with rising mercury, Coal India has floated an international tender, seeking bids for import of 2.416 million tonne of coal.

Dr Reddy’s Laboratories: Has said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc to research, develop and commercialise novel small molecule inhibitors of an undisclosed oncology target. Under the terms of the agreement, Olema will make an upfront licensing payment of $8 million for the rights to a pre-existing Aurigene programme.

Shriram Transport Finance: Has secured long-term funding of $250 million from the US International Development Finance Corp. (DFC). The external commercial borrowing (ECB) is a fixed-rate 10-year loan under STFC’s social finance framework, as per a release.

Welspun Enterprises: Has executed definitive agreements with Actis Highway Infra to sell its portfolio of operating highway projects for an aggregate enterprise value of 6,000 crore. Post this proposed exit, the company’s road asset portfolio would comprise two under-construction Hybrid Annuity Model (HAM) road projects (Sattanathapuram-Nagapattinam and Aunta–Simaria road projects), which have a total project cost of 3,900 crore.

HFCL: Has received orders worth 73.39 crore consisting of 51.09 crore from one of the leading private telecom operators of the country for supply of UBRs (unlicensed band radio) along with accessories. The order worth 22.30 crore has been bagged from one of the leading EPC players of India for supply of optical fibre cables.

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