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    Stocks in the news: Motherson Sumi, PNB, PSU banks, Kwality and Max Financial

    Synopsis

    Here's a look at the top stocks that may hog the limelight in today's session.

    Stocks in news: Piramal Ent, Lupin and IOC
    Nifty futures on the Singapore Exchange were trading 48 points, or 0.44 per cent, down at 10,778, indicating a weak start for the Nifty50 on Friday.

    Asian peers including Hang Seng, Nikkei and Shanghai were trading up to 2 per cent lower in the morning trade.

    Here's a look at the top stocks that may hog the limelight in today's session:

    Motherson Sumi: Car wiring maker Motherson Sumi is in early-stage talks with German peer Leoni over a possible combination of the two companies, according to a report by Reuters.

    IL&FS Transportation Networks
    : The company, part of the troubled IL&FS Group, announced the appointment of Shaivali Parekh as its Chief Financial Officer. The decision on the same was taken during the board meeting, the company said in a regulatory filing.

    Tata Motors: Automobile manufacturers, Tata Motors, Ford India and Nissan India announced plans to hike prices of their passenger vehicles from next month to partially offset the impact of rising input costs.

    HDFC: Mortgage lender HDFC will raise up to Rs 1,500 crore by issuing bonds on a private placement basis. The 'HDFC Series U-006 June 18, 2020' secured redeemable non-convertible debentures will open for subscription on December 17 and close the same day, HDFC said in a regulatory filing Thursday.

    PNB: Nirav Modi-scam hit Punjab National Bank (PNB) has mobilised Rs 500 crore through its Employee Stock Purchase Scheme (ESPS). As part of the scheme, the bank issued up to 10 crore new equity shares to its employees at a discounted price of Rs 53.95 per share.

    Indian Hotels: Tata group's hospitality arm Indian Hotels Company (IHCL) said it has signed a new Taj branded hotel in Lucknow, in partnership with Luxus Hospitality. IHCL at present has two hotels in the city Taj Mahal Lucknow and Ginger Gomti Nagar.

    PSU banks: The government is considering additional capital infusion of up to Rs 30,000 crore in public sector banks as they have been unable to raise required funds from the markets, according to PTI.

    Adani Enterprises: Adani Defence Systems, a wholly-owned arm of Adani Enterprises, has acquired Alpha Design Technologies (ADTL) for Rs 400 crore, according to regulatory filing.

    IOC: State-owned Indian Oil Corp announced a buyback of 3.06 per cent equity shares at a price of Rs 149 per stock for a consideration not exceeding Rs 4,435 crore. The buyback decision was taken by the company's Board in its meeting held on Thursday.

    Vijaya Bank: The lender revised its MCLR by five basis points to 8.70 per cent from 8.65 per cent.

    Earnings today: Kwality, IL&FS Investment Managers and PTIL will announce their financial results for the quarter ended September 2018 later in the day.

    Max Financial Services:
    US-based New York Life picked up around 2 per cent stake in Max Financial Services for about Rs 215 crore, signalling its renewed interest in the life insurance business of its former partner in India.

    Larsen & Toubro: The government is likely to offer its shares in Larsen & Toubro's buy back offer, which is estimated to fetch about Rs 700 crore to the exchequer, according to a report.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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