Stocks to watch: RIL, HDFC Life, Motherson Sumi, JB Chemicals, Divi's Lab

Global investment firm KKR & Co. Inc. will pick a controlling stake in Mumbai-based branded formulation player JB Chemicals.
At 08:29 am, Nifty futures on the Singapore Exchange (SGX) were trading 40.35 points or 0.38 per cent higher at 10,592 levels, indicating a positive start for the Indian market on Friday.

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

RIL: Intel Capital will invest Rs 1,894.50 crore in Reliance Industries' Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion for a 0.39 per cent stake, said the two companies on Friday. 

HDFC Life, SBI Cards: Vedanta will be replaced by HDFC Life Insurance Company on Nifty with effect from July 31. It will be replaced by SBI Cards in the Nifty 100 and Nifty 500 indices.

JB Chemicals: Global investment firm KKR & Co. Inc. will pick a controlling stake in Mumbai-based branded formulation player JB Chemicals and Pharmaceuticals (JB Chemicals). As part of the deal, KKR will acquire stake from the founding Mody family at Rs 745 per share (or 5 per cent premium to the closing price of Rs 715 on the BSE).

Tata Power: Private power producer Tata Power on Thursday said the company’s board had approved an increase in its promoter Tata Sons’ stake to 45.2 per cent for Rs 2,600 crore.

Earnings today: As many as 18 companies, including Indiabulls Housing Finance, are scheduled to report their March quarter numbers later in the day.

Lakshmi Vilas Bank: As negotiations progress between capital-starved Lakshmi Vilas Bank (LVB) and AION Capital-backed Clix Capital over a merger, sources in the know say Singapore-based private equity player Clermont Group has also joined the talks to pick up a sizeable stake in the bank.

Cadila Healthcare: The company announced that it’s plasmid DNA vaccine candidate for COVID-19 (ZyCoV-D) developed indigenously at its Vaccine Technology Centre in Ahmedabad, India has successfully completed the preclinical phase and has now received permission from the Drug Controller General of India - Central Drugs Standard Control Organisation (CDSCO) to
initiate Phase I/II human clinical trials in India.

Divi's Lab: Sebi has imposed over Rs 96-lakh penalty on the chief financial officer of Divi's Laboratories, L Kishore Babu, and his close associates, including his son, for indulging in insider trading in 2017.

Motherson Sumi Systems: Auto component major Motherson Sumi Systems (MSSL) on Thursday said it has approved a group reorganisation plan that will create a simplified corporate structure to help businesses grow across product portfolios within the auto components space and allied operations, the firm said.

HUL: Fast-moving consumer goods major Hindustan Unilever Ltd's (HUL's) flagship skin care brand for women Fair & Lovely will now be known as Glow & Lovely.

VST Tillers: In June, the company's tractors sale stood at 805 units compared to 728 units in the year-ago period. Sales of Power Tillers declined to 2675 units from 3325 units of June 2019.

Muthoot Finance: The Board of the company will meet on July 18, 2020 to consider and approve the proposal for sub-division / stock split of equity shares of the Company; and to seek approval of shareholders for increase the borrowing powers of the Board of Directors of the Company from existing Rs 50,000 crore to Rs 75,000 crore.

PI Industries: The company opened its qualified institutional placement (QIP) issue today on Thursday. The floor price is fixed at Rs 1,534.24 per share. The company may offer a discount of not more than 5 per cent on the floor price so calculated for the Issue.

Defence stocks: In the midst of India's tense border standoff with China, the defence ministry on Thursday approved procurement of a number of frontline fighter jets, missile systems and other platforms at a cost of Rs 38,900 crore to bolster the combat capability of the armed forces, officials said.

Affle India announced that its Singapore subsidiary, Affle International has entered into a definitive Share Subscription Agreement to acquire 8.0 per cent ownership in OSLabs incorporated in Singapore. The acquisition will be completed before 25 July 2020.

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