Top 5 stocks in Focus on June 18: Adani Green, Vedanta to Dr Reddy's, here are the newsmakers today
Adani Green Energy: The equity shares of Adani Green Energy Limited will be listed on the exchange. It is a subsidiary of Adani Enterprises and it is being believed that it will be listed at a rate of about Rs 20-25 per share.
The Indian market closed on a positive note on June 15, Friday, but there are certain stocks that hogged headlines over the weekend. These stocks may have some positive or negative impact on the Indian market on Monday. Here are the stocks in focus today:
Adani Green Energy: The equity shares of Adani Green Energy Limited will be listed on the exchange. It is a subsidiary of Adani Enterprises and it is being believed that it will be listed at a rate of about Rs 20-25 per share. The company was created by the demerger of the renewable energy business.
Dr. Reddy's Laboratories: Dr. Reddy's Lab will be excluded from the index today for a period of six months. Its exclusion will be a result of reconstitution of the composition of the benchmark Sensex.
Vedanta: Metals giant Vedanta will take place of Dr. Reddy's lab after the reshuffle on the S&P BSE Sensex composition takes place. In addition to this, Vedanta has announced that its subsidiary Vedanta Star has been allotted nearly 176 fully paid up equity shares of Electrosteel Steels ('ESL') as per the approved Resolution Plan. With this, Vedanta's hold in ESL will go up to 90 per cent.
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Reliance Industries: Reliance Industries is investing in setting up India’s first carbon fibre manufacturing unit. The company in its annual report has said that the unit will be developed with an aim to cater to aerospace and defence needs.
Auto Sector: Published reports suggest that a new National Auto Policy, which may seek emission-linked taxation on automobiles and a technology-agnostic green mobility roadmap, is likely to be finalised in the next three months.