Stocks to watch: Dixon, Dr Reddy's Labs, Bank of India, Kotak Mahindra Bank, Larsen and Toubro
Here is the list of top stocks that could be in focus on October 18.
The benchmark equity indices BSE Sensex and NSE Nifty ended higher on Thursday on account of gains across sectors led by financial, IT and metal. The Indian market remained closed on Friday for Dussehra holiday. Today, the start of new week is likely to be flat-to-positive amid mixed global cues. Traders will be taking encouragement as Minister of State for External Affairs V Muraleedharan said The Indian economy is bouncing back strongly, domestic consumption is increasing and industrial production is at pre-Covid level, he also emphasized that the reforms implemented by the government have provided a fillip to the business ecosystem in the country. Here is the list of top stocks that could be in focus on October 18.
Dixon Technologies has started manufacturing 5G millimetre waves smartphones which will be the first set of devices in the segment to be exported from India. The company has set up a manufacturing unit with an annual capacity of 7 million 5G millimetre (mm) phones and is setting up another factory with annual capacity of 30 million smartphones in Noida.
Bank of India has cut its interest rates on home and vehicle loans by 35 basis point and 50 basis points, respectively. With this cut, the interest rate on home loans starts at 6.50 percent against earlier 6.85 percent, and at 6.85 percent against 7.35 percent prior on vehicle loans. This special rate, which is effective from October 18, 2021, till December 31, 2021, is available for customers applying for fresh loans and also for those seeking transfer of loans.
Dr. Reddy’s Laboratories has launched Carmustine for Injection, USP, a therapeutic equivalent generic version of BiCNU (carmustine for injection) approved by the U.S. Food and Drug Administration (USFDA). The BiCNU brand and generic market had U.S. sales of approximately $19.4 million MAT for the most recent twelve months ending in August 2021, according to IQVIA Health. Dr. Reddy’s Carmustine for Injection, USP is a lyophilized powder available as a package which includes a single-dose vial containing 100 mg Carmustine USP and a vial containing 3 mL sterile diluent.
Kotak Mahindra Bank (KMBL) is partnering India SME Forum, a not for profit organisation for small and medium enterprises, on its India Xports 2021 initiative supported by the Ministry of Micro, Small & Medium Enterprises, Government of India and the National Small Industries Corporation (NSIC). The initiative aims at supporting Indian MSMEs with a range of exports and trade financing solutions and creating a sustainable exports ecosystem. KMBL is offering a comprehensive array of business banking solutions to all exporters registered under the India Xports initiative.
Rain Industries’ wholly owned subsidiary — Rain Cements has completed upgradation of Cement mill at Unit — II, Kurnool District, Andhra Pradesh on October 15, 2021. Consequent to the upgradation of cement mill, the cement grinding capacity is increased from 2.033 million tonnes to 2.795 million tonnes per annum.
Larsen & Toubro (L&T) has launched L&T EduTech — a new industry-led, application-based, practical oriented learning platform, strongly rooted in technology, that will straddle the entire gamut of engineering & technology verticals to help create industry-ready talent. L&T EduTech aims to future-proof L&T’s businesses and bridge the gap that exists today between the competence of young engineers and industry expectations. L&T EduTech will channelize L&T’s storehouse of knowledge and expertise gained of having executed some of the most complex and demanding projects over the decades to empower both students and professionals with real world professional skilling to enhance their employability.