Top 5 stocks in Focus on June 14: Lupin to Maruti are the newsmakers of the day; here is the list
These stocks came in news due to some reasons, which will make them have an impact on Indian market today, June 14, 2018, during the trading hours. Here are the stocks:
Despite the hints that the US Federal Reserve will increase the rates on June 13, 2018, the Indian market closed firmly in green, but there are certain stocks that made news on the day. They came in news due to some reasons, which will make them have an impact on Indian market today, June 14, 2018, during the trading hours. Here are the stocks:
- Lupin: The company has said that it had launched Tobramycin Inhalation Solution USP in the US market. Reports suggest that the solutions 300 mg/5 ml had an annual sales of nearly USD 99 million in the US market for the year ended in April 2018.
- Adani Transmission: Adani Transmission Ltd has received LOI from REC Transmission Projects Company Limited to build, own, operate and maintain the transmission project of the 1980 megawatt (MW) Ghatampur thermal power plant in Uttar Pradesh. This project has been awarded to ATL through a Tariff Based Competitive Bidding Process.
- ICICI Bank: The board of directors of the bank has approved the sale of up to 28,711,100 shares of its insurance arm ICICI Prudential Life Insurance Ltd, which stands to 2 per cent stakes of the insurance arm. The stake sale, which will be made in one or more tranches, will help the bank to raise an estimated Rs 1,180 crore.
- HDFC Bank: The Cabinet Committee on Economic Affairs has approved one of the largest foreign direct investment (FDI) proposals of the bank that will help it to raise Rs 24,000 crore as equity capital. The capital infusion will not result in breaching the foreign equity holding cap of 74% in the private sector lender.
- Maruti Suzuki: Reports suggest that the company has discontinued the production of diesel variant of Ignis hatchback. The reason for the discontinuation was the lack of demand for the diesel version.