Stocks to watch: Cipla, RattanIndia, Bhansali Engineering, Reliance Industries, Nippon Life AMC
Reliance Industries is going to set up a 1,000-bed Covid-19 hospital with oxygen facility at Jamnagar in Gujarat's Saurashtra region
Here is the list of top stocks that could be in focus on April 29.
Cipla: Cipla has signed a non-exclusive licensing agreement with MSD a tradename of Merck & Co., Inc. Kenilworth, NJ., USA for the manufacturing and distribution of Molnupiravir, the investigational oral antiviral drug currently being studied in a Phase 3 trial for the treatment of non-hospitalized patients with confirmed COVID-19. MSD is developing Molnupiravir in collaboration with Ridgeback Biotherapeutics. This agreement is a part of Cipla’s efforts to enhance global access to treatments for patients affected by the pandemic.
RattanIndia Enterprises: The company is venturing into the Electric vehicle space by acquiring a substantial strategic stake in Revolt Intellicorp. Revolt Intellicorp is a next-gen mobility company, created for the smart world.
Gayatri Highways: The company has proposed to sell up to 36.99% of Equity Share Capital held by the Company in HKR Roadways to Kotak Special Situations Fund (represented by its investment manager, Kotak Investment Advisors) under OTS (Onetime Settlement) Scheme.
Bhansali Engineering Polymers: The company has entered into partnership with Global Hospital Research Centre (managed by Brahmakumari) for Opening Corona Care Centre in Abu Road, Rajasthan.
Modi Naturals: The firm has incorporated wholly owned subsidiary namely ‘Modi Biotech’ on April 27, 2021. The company wants to expand its business activities. In this regard, the company has incorporated a wholly-owned subsidiary in India for carrying out business operations of manufacturer of spirits and related activities.
RIL: Reliance Industries is going to set up a 1,000-bed Covid-19 hospital with oxygen facility at Jamnagar in Gujarat’s Saurashtra region where it operates the world’s largest crude oil refinery, with the 400-bed facility getting operational in the next five days. The government will help the company provide the required manpower for this hospital.
Nippon Life India Asset Management: The money manager has reported results for fourth quarter ended March 31, 2021. The company has reported 13- fold jump in its net profit at Rs 157.37 crore for the quarter under review as compared to Rs 11.88 crore for the same quarter in the previous year. Total income of the company reported 2- fold jump at Rs 335.22 crore for Q4FY21 as compared Rs 141.90 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported many fold jump in its net profit attributable to owners at Rs 166.77 crore for the quarter under review as compared to Rs 3.72 crore for the same quarter in the previous year. Total income of the company reported 2- fold jump at Rs 361.96 crore for Q4FY21 as compared Rs 149.56 crore for the corresponding quarter previous year.