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Stocks in the news: Vedanta, Laurus Labs, Xelpmoc Design, Zee Entertainment, DHFL and NIIT Tech

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NEW DELHI: Nifty futures on the Singapore Exchange were trading 21.20 points, or 0.20 per cent, lower at 10,890, indicating a negative start for the Nifty50.

Here are a few stocks which may buzz the most in today's trade: IDBI Bank, GSK Pharma: Lakshmi Vilas Bank: SPARC, Whirlpool of India, IRB Infra, Aban Offshore, Aditya Birla Fashion, Godrej Agrovet, GSK Pharma, Novartis India, Future Retail, Balrampur Chini, Welspun India, Reliance Naval are among companies set to announce their December quarter results on Monday.

Vedanta: The Anglo American Plc investment was made on an arm’s length basis in December 2018, after meeting all governance requirements.

The economic interest was valued by an independent valuer and approved by the boards of CIHL and Vedanta.

This was voluntarily and transparently disclosed in the December quarter results. Zee Entertainment: Founder firm Cyquator sold 1.69 per cent stake in Zee Entertainment while Essel Corporate sold 0.85 per cent stake in the mediaa firm, ET Now quoted agencies as saying.

NIIT Technologies: Buyout fund Baring Private Equity Asia is said to be closing in on the stakes of founder promoters Rajendra Singh Pawar and Vijay Thadani in NIIT Technologies, which they founded in 2004, as consolidation in the midtier information technology space takes centre stage once again. Xelpmoc Design and Tech: Shares of Xelpmoc Design and Tech, a professional and technical consulting services company, will list on the bourses on February 4, Monday.

This will be the first main-board IPO listing for the year.

DHFL: Rating company CARE Sunday reduced by a notch the creditworthiness of about Rs 1.2 lakh crore of outstanding securities at home financier Dewan Housing Finance (DHFL), pointing to higher funding costs for para banks that have been buffeted by a series of defaults at infrastructure financier ILFS. Laurus Labs: The drug maker said it has received tentative approval from the United States Food and Drug Administration for TLD, which is one of preferred first line regimen for the treatment of HIV. Dish TV: Essel Group said that it has sealed a formal agreement with its lenders to keep it afloat, under which it gets time till September to deleverage or pare its debt.

The agreement is with those lenders who have taken pledged shares of the group flagship and listed entities, Zee Entertainment Enterprises and Dish TV India. Narayana Hrudayalaya: Hospital chain Narayana Hrudayalaya said its Group CEO and Managing Director Ashutosh Raghuvanshi has resigned from the post. Reliance Communications: The company said it will propose a similar debt resolution plan to the National Company Law Tribunal that it had been pursuing outside the court.

The Anil Ambani-led company last week announced that it would file for bankruptcy proceedings as it failed to sell its assets for paying back its lenders. Bharti Airtel, Idea Voda: Bharti Airtel has moved users on its second and third-generation networks in 10 circles to fourth generation, while rival Vodafone Idea has redeployed its legacy airwaves in Mumbai for 4G services, as they chase quality mobile broadband customers to take on fast-expanding Reliance Jio Infocomm. Tata Teleservices: Tata Teleservices has offered to surrender spectrum allocated to it without auction in around 15 circles before its merger with Bharti Airtel is approved by the Department of Telecom, an official said. Board meetings




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