Stocks in Focus on Nov 22: IRCTC, RIL, Airtel & More

  • Stock Market News
Stocks in Focus on Nov 22: IRCTC, RIL, Airtel & More
Credit: © Reuters.

By Malvika Gurung -- Indian Railway Catering And Tourism Corp (NS: INIR ): The Railways ministry has lifted its decision to do away with all the existing contracts it has of mobile catering, along with announcing the decision of commencing the services of cooked food in trains.

Reliance Industries (NS: RELI ): In its AGR of shareholders held in August 2019, RIL announced to sell a 20% stake in the oil-to-chemicals business to Saudi Aramco (SE: 2222 ) for USD 15 billion. However, in a statement on Friday, RIL has announced to re-evaluate the proposed investment, due to the evolving nature of its portfolio.

Cadila Healthcare (NS: CADI ): The US FDA has given its final approval to the Indian pharmaceutical company to release Decitabine for injection in the market. The medication is used to treat myelodysplastic syndromes and acute myeloid leukaemia.

Bharti Airtel (NS: BRTI ): The Sunil Mittal-led telco is reconsidering its plan to separate its digital and infrastructure businesses from telecom after the Government has redefined the exclusion of non-telecom revenues from AGR. After this redefinition, the telecom company does not see any requirement for restructuring.

Motherson Sumi Systems (NS: MOSS ): The 50:50 JV between Samvardhana Motherson Reflectec and Ningbo Huaxiang Electronic Co in China, Ningbo SMR Huaxiang Automotive Mirrors has completed a 60% stake acquisition in Nanchang JMCG Mekra Lang Vehicle Mirror.

Biocon (NS: BION ): The shareholding of Arohi Asset Management Pte Ltd in the company has increased from 5.07% to 4.96% after the latter acquired an additional 0.1% stake in the company.

Laurus Labs Ltd (NS: LAUL ): The pharmaceutical company has acquired a 26.62% stake in CAR-T cell-therapy firm Immuneadoptive Cell Therapy for Rs 46 crore.

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