Stocks to watch: Aurobindo Pharma, RIL, Apollo Pipes, Phoenix Mills, ZEEL

(Photo: Kamlesh Pednekar)
At 08:24 am, Nifty futures on the Singapore Exchange (SGX) were trading 69 points or 0.59 per cent higher at 11,670, indicating a strong start for the Indian market on Tuesday. 

Here's a look at the top stocks that may remain in focus today - 

Aurobindo Pharma: Sebi has imposed a total penalty of about Rs 22.6 crore on Aurobindo Pharma, its promoter P V Ramprasad Reddy, his wife P Suneela Rani and other connected entities for violating insider trading rules.

Reliance Industries (RIL): Foreign brokerage Morgan Stanley has maintained 'overweight' stance on the stock with the revised target price of Rs 1,469 from Rs 1,349, earlier. 

Phoenix Mills: UBS has maintained 'buy' rating on the stock and increased the target price to Rs 1,000 from Rs 810. 

Apollo Pipes: Ace investor Ashish Rameshchandra Kacholia bought 233,513 shares of the company at Rs 375 apiece in a bulk deal on the BSE. Canara HSBC Oriental Bank of Commerce Life Insurance Company, on the other hand, sold a total of 140,000 shares at Rs 375 apiece. 

Zee Enterprises: Catalyst Trusteeship on Monday sold 72,50,000 shares of the company at Rs 281.75 apiece on NSE, bulk deal data showed. 

Autos: Towards phasing out of older, polluting vehicles, the Road Transport and Highways Ministry has proposed steep hike in the renewal of registration fees of vehicles older than 15 years of age. The proposed hike will be implemented from July 2020, said a report by business daily Mint

Tata Global: Paradice Global Small Cap Fund has sold 46,73,079 shares of the company at Rs 273.14 in a bulk deal on Tuesday, NSE data showed.

CG Power: As per reports, Registrar of Companies (RoC) has granted extension of 2.5 months from September 30 onwards for holding AGM of the company. 

Manappuram Finance on Monday said it will raise up to Rs 465 crore by issuing bonds on a private placement basis. The decision was taken by the board of the company at its meeting.

Rating companies such as ICRA, Crisil and Care Ratings may hog the limelight today as the Reserve Bank of India (RBI) has expressed disagreement over the Securities and Exchange Board of India’s (Sebi) proposed framework enabling credit rating agencies (CRAs) to legally access borrower database, helping them in timely recognition of default. READ MORE

Reliance Capital: Reliance Capital's deal to sell its entire stake in mutual fund arm to joint venture partner Japan's Nippon Life Insurance will be completed by the end of this month, RNAM CEO Sundeep Sikka said on Monday.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel