Stock Recommendations For Today [26-Aug-2022]

Stock Recommendations For Today: India’s stock benchmarks advanced, aided by broad-based gains led by information technology, auto, banking, consumer durables, metals and power stocks. The resilience was seen across global markets as they withstood the hawkish comments from Fed officials at the annual conference in Jackson Hole, Wyoming.

  • HDFC Bank: The bank entered into non-binding agreement with Go Digit to invest between Rs 49.9-69.9 crore worth equity capital. Go Digit proposes to carry out life insurance business in India, subject to grant of certificate of registration from IRDA.
  • HDFC: The company’s three subsidiaries HDFC Property Ventures, HDFC Venture Capital and HDFC Capital Advisors approved amalgamation of HPVL and, HVCL with HCAL. The combined platform shall advise/ manage approximately $4.1 billion of assets.
  • Eicher Motors: The chief financial officer of the company Kaleeswaran Arunachalam has resigned effective from September 2.
  • Indian Oil Corporation: The company plans to spend Rs 2 lakh crore to achieve carbon neutrality by 2046.
  • Dr. Reddy’s Laboratories: The U.S. FDA has concluded that the inspection is “closed” at the company’s formulations manufacturing facility (FTO 11) in Srikakulam, Andhra Pradesh.
  • Nelco: The company has partnered with Intelsat Commercial Aviation to offer inflight connectivity services in India.
  • Max Financial Services: The company’s subsidiary Max Life Insurance announced that receipt of the Commencement of Business certificate for its wholly owned subsidiary, Max Life Pension Fund Management. This subsidiary will manage the pension assets with investment choices under the National Pension Scheme.
  • Gland Pharma: The company received one observation on Form 483 from the U.S. FDA that conducted pre-market inspection at Dundigal Facility at Hyderabad.
  • Infibeam Avenues: Buys 50% stake in software startup Vishko22.
  • Steel Authority of India: Expands adoption of HPE GreenLake.
  • Lupin: Entered into an exclusive licensing deal with Japanese drugmaker I’rom Group to conduct clinical trials, register, distribute and market biosimilar Denosumab in Japan. Denosumab has a market size of $500 million in Japan and is available under two brands – Pralia and Ranmark.
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