Stocks in the news: L&T, Sun Pharma, PNB, Zomato, Bank of India and REC

Nifty futures on the Singapore Exchange traded 44.5 points, or 0.26 per cent higher at 17,196, signaling that Dalal Street was headed for a positive start on Tuesday. Here are a dozen stocks which may buzz the most in today's trade:

Larsen & Toubro: The board on March 24 will seek approval for raising funds including through issue of debt securities as part of the company's refinancing programme.

Sun Pharmaceutical Industries: The drug major said it has entered into a share purchase agreement with Japan's Daiichi Sankyo Company to acquire the latter's 11.28 per cent stake in Zenotech Laboratories. It will pay Rs 5.32 crore for the stake.

Shankara Building Products: Sukumar Srinivas, the managing Director of the construction player offloaded over 10 lakh shares of the company for Rs 75.50 crore through an open market transaction. According to the block deal data on NSE, he sold 10 lakh shares at an average price of Rs 755 apiece.

Punjab National Bank: The state run lender will convene a board meeting later this month to decide on its capital raising plan through debt for the next fiscal year. However, the bank has not provided details on how much capital it is planning to raise via debt in 2022-23.

Zomato: The online food delivery service provider plans to deliver food to its customers in record 10 minutes, following the footsteps of grocery delivery companies, Deepinder Goyal, the founder said in a tweet.

Bank of India: The state run lender said it has invested nearly Rs 109 crore in National Asset Reconstruction Company (NARCL), it said in a regulatory filing. The bank's shareholding in NARCL will come to 9 per cent as on March 21, 2022.

Deepak Nitrite: The rating agency ICRA has upgraded the long term rating from 'AA-' to 'AA', and re-affirmed the short term rating at 'A1+' for Rs 756.27 crore bank facilities of Deepak Phenolics, a wholly owned subsidiary of the company. The outlook on the long-term rating has been revised to Positive from Stable.

Granules India: The drug maker said it will invest Rs 400 crore over next two years to backward integrate its key products and set up a greenfield formulation facility near Hyderabad. The company has started work on end-to-end manufacturing of at least two key large-volume molecules.

TTK Healthcare: The Mumbai-based BSV will pay 74 per cent in cash and 26 per cent by way of allotment of equity shares for the acquired business. The sale is expected to be completed within 120 days from March 21 subject to approval of the shareholders of and fulfillment of certain conditions.

IIFL Finance: The wealth manager will buy back a portion of its overseas bonds sold two years ago, seeking to boost investor confidence at a time when geopolitics and a tightening US rate cycle are raising the uncertainty quotient in the global markets.


Asian Granito: The Sanitaryware major announced a Rs 500-crore rights issue to fund its expansion plans. The company plans to set up three manufacturing units at an investment of around Rs 300 crore in luxury surfaces and bathware segments.

Equitas Small Finance Bank: The boards of Equitas Holdings and its subsidiary Equitas Small Finance Bank have approved their merger plan, according to regulatory filings. The boards of directors of the two companies at their respective meetings approved the scheme of amalgamation between the two parties.

Vakrangee: The IT services player and Star Union Dai-ichi Life Insurance (SUD Life) will tap customers living in smaller towns and rural areas through a partnership with Vakrangee. SUD Life is a joint venture between Bank of India, Union Bank of India, and Dai-ichi Life Japan.

REC: The non banking financial company approved the market borrowing programme of Rs 85,000 crore under different debt segments for the financial year 2022-23.

Godawari Power & Ispat: The company has signed a Share Purchase Agreement with Hira infra-Tek (HITL) to acquire 44,54,621 equity shares of Hira Ferro Alloys (HFAL) from HITL at a price of Rs 224 per share. With this, the company's stake in HFAL will be increased from 56.45 per cent to 75.66 per cent.

NHPC: Life Insurance Corporation of India sold 2.03 per cent stake in the company via open market transactions. With this, LIC's stake in the power generation company stands at 7.23 per cent, down from 9.26 per cent.