Stocks in focus: HDFC Life, Aurobindo Pharma, Tata Steel; Nifty gains after facing low in early trade

The Indian Indices on Thursday opened higher with Nifty around 10,100 level. Although, at 9.52 IST, Sensex was in the red with 79.43 points at 34,030.1. Nifty too faced a low by 18.8 points at 10,042.75. Moreover, currently, Vedanta and Tech Mahindra are among the top gainers on the NSE.

Take a look at the stocks that are in focus in today’s trading session:

  1. HDFC Life:

Housing Development Finance Corporation (HDFC) unloaded a 1.28 percent stake in its subsidiary HDFC Life. Moreover, the company has sold 2.6 crore shares worth Rs. 1,274.57 crore. In addition, the sale was at Rs. 490.22 per share in accordance with the bulk deal data available with the BSE. In early trade, the company’s shares rose by 3 percent.

  1. Aurobindo Pharma:

The company reported an increase of 45.07 percent in its consolidated net profit at Rs. 848.99 crore in the fourth quarter ended in March. Moreover, the company’s net profit stood at Rs. 585.22 crore for the same quarter last fiscal. In the early trade, the pharma company’s shares hit a 54-week high and surged by 3 percent.

  1. Shree Renuka Sugars:

The company’s board accepted the proposal for raising of funds from its holding company. Moreover. the funds raised from Wilmar Sugar Holdings to refinance standing debts is going to happen via external commercial borrowings (ECB).

  1. RIL:

On Wednesday, towards its closing the rights issue of Reliance Industries Ltd (RIL) was subscribed 1.6 times. Moreover, the company is said to move forward and might be able to achieve its target of becoming a zero net-debt company by March 2021.

  1. Tata Steel:

The consent of raising Rs. 400 crore through a debt issue has been given by the board of directors. In addition, the board has agreed to allocate 4,000 non-convertible debentures with the face value of Rs. 10 lakh each to identified investors on private placement. The company said in a BSE filing.

Further, some of the other stocks that stay in focus today include NLC India, Steel Strips Wheels, DB Corp, GAIL, and Tata Consumer Products.

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