RIL, Granules India, RailTel Corporation will be in focus

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Benchmark Indian indices are set to open higher on Friday as Asian stocks were steady after cyclicals led Wall Street to a record and the dollar fell ahead of a U.S. jobs report. Here is the list of top stocks that could be in focus on September 03.

Reliance Industries: Oil to telecom conglomerate Reliance Industries’s subsidiary Reliance Retail Ventures (RRVL) has now taken sole control of Just Dial. On July 20, 2021, RRVL acquired 1.31 crore equity shares of Just Dial at a price of Rs.1,020/- per equity share from Mr. VSS Mani. On September 1, 2021, Just Dial, pursuant to the preferential issue, allotted 2.12 crore equity shares at a price of Rs. 1022.25/- per share. Reliance Retail now holds 40.98% in Just Dial.

Granules India: The company has received a licence from Defence Research & Development Organisation (DRDO), Ministry of Defence, Government of India, to manufacture and market of 2- Deoxy-D-Glucose (2-DG). Developed by DRDO, 2-DG has been granted permission by Drug Controller General of India (DCGI) for emergency use of this drug as adjunct therapy in moderate to severe Covid 19 patients.

RailTel Corporation of India: The public sector undertaking has received a contract from Directorate of Information Technology, Indian Air Force, Ministry of Defence for implementation of Secure OPS Network for value of Rs. 299.95 Crore (Inclusive of GST). The work is to be executed over a period of 12 months.

Jammu & Kashmir Bank: The bank’s board has approved raising of equity share capital upto Rs 1,000 crore in one or more tranches by way of Rights Issue/ Preferential Allotment/Private Placement/Qualified Institutional Placement (QIP) or any other approved mode. The board also approved raising Rs 1,000 crore by way of non-convertible, Redeemable, Unsecured, BASEL III Compliant, TIER 2 bonds in the nature of debentures (‘debentures’) on a private placement basis.

IRB Infrastructure Developers: The infrastructure developer has emerged as a preferred bidder for Chittoor – Thachur Six Laning Highway Hybrid Annuity Project in Tamil Nadu. Rossari Biotech said that the company has completed the acquisition of the first tranche of 76% of Tristar Intermediaries.

Salzer Electronics: The company has incorporated a joint venture SALZER EMARCH ELECTROMOBILITY to make electric conversion kits for auto-rickshaws, cars and buses and also manufacture novel electric driven utility vehicles and other allied activities.

GOCL Corporation: GOCL completed the acquisition of APDLE Estates from Hinduja Realty Ventures.