Stocks in focus: Reliance Industries, Gland Pharma, Bharti Airtel, Vodafone Idea, Infosys

Stock markets are likely to continue witnessing stock specific action on Friday. Global markets have sent mixed cues to domestic equity markets as fear of renewed lockdowns weighs heavier on sentiment than the positive news flow around two successful coronavirus vaccines. Technically Nifty has to break the 13,000 mark for any significant upside from here on while support for the benchmark is placed in the 12650-12600 range. 

Reliance Industries Ltd: Reliance Retail on Thursday said that it has raised Rs 47,265 crore by selling 10.09% stake. Those who bought a stake in the firm include marquee global investors such as Silver Lake Partners, KKR, ADIA, Mubadala, among others.

Gland Pharma: Shares of the pharma company will make their stock market debut today. Backed by China’s Fosun Pharma the firm did see a tepid response from retail as well as NII category but ahead of the listing the grey market premium for the stock has surged.

LVB: Today is the final day for any objections to be raised for the proposed merger of Lakshmi Vilas Bank and DBS Bank India. The troubled private lender was earlier this week placed under a moratorium by the Reserve Bank of India. The share capital of Lakshmi Vilas Bank is planned to be written-off.

Infosys: Simplus, an Infosys Company, has announced Vaccine Management Solution in collaboration with Salesforce Work.com for vaccines. Infosys vaccine management solution built on the Salesforce Platform covers a broad spectrum of vaccine management, including campaign management, citizen registration, prioritization, provider enrollment, supply chain visibility, forecasting, vaccine administration, wellness surveys, and adverse event monitoring.

Mphasis: The IT firm on Thursday said that it  has acquired Datalytyx, a leading next-gen data engineering and consultancy company. Headquartered in London, United Kingdom, Datalytyx provides Next-gen Data Engineering, Data Ops and Master Data Management solutions on Snowflake and Talend environments to clients globally. 

Vodafone Idea: Struggling telecom firm Vodafone Idea on Thursday informed the bourses that it has sold its 11.15% stake in Indus for a cash consideration of Rs 37.6 billion in accordance with the terms of the agreement and out of the consideration received from Infratel, the Company has made a prepayment of Rs 24 billion which will be adjusted in line with terms of the agreement.  

Bharti Airtel: The telco has announced that the merger of Indus Towers Limited and Bharti lnfratel Limited has been completed.  The entity will be renamed as Indus Towers limited which is listed on the National Stock Exchange of India Limited and BSE Limited.