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Stocks in Focus: Reliance Industries, Tata Motors, Larsen and Toubro, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.11% lower by 27 points at 25,087, indicating that the domestic benchmark indices are likely to make a negative start on Wednesday. 

On Tuesday, 10 September, Domestic benchmark indices S&P BSE Sensex soared 362 points or 0.44%, to end at 81,921, while the Nifty50 traded 105 points or 0.42% higher and settled at 25,041.

Here are some stocks that are likely to remain in focus on 11 September.

Reliance Industries: The retail arm of the company, Reliance Retail Ventures has entered into a 50/50 joint venture (JV) agreement with Delta Galil Industries to grow its apparel offering in India. 

Tata Motors: The Competition Commission of India (CCI) has approved the merger of Tata Capital and Tata Motor Finance. 

Larsen and Toubro: The company’s subsidiary, L&T Semiconductor Technologies, has entered into a strategic partnership with IBM to advance processor design for edge devices and hybrid cloud systems.

Century Textiles and Industries: The company has announced acquiring a 10-acre land parcel in Mumbai from the Wadia Group, which has significant development potential.  

Axis Bank and HDFC Bank: The Reserve Bank of India (RBI) has fined Axis Bank Rs 1 crore and HDFC Bank Rs 1.91 crore for non-compliance with certain directions of RBI on interest rates on deposits. 

Lemon Tree Hotels: The company has signed another licence agreement for a new property in Mira Road Mumbai that will feature 08 rooms, a restaurant, a bar, a swimming pool, a meeting room, and many more amenities.

Coal India: The company has announced its plans to invest Rs 67,000 crore towards developing coal-fired power plants near its mining operations.

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