Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more

Reliance Industries Limited (RIL) on Tuesday announced that its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore.

This investment represents around 60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries, Tresara Health Private Limited, Netmeds MarketPlace Limited and Dadha Pharma Distribution Private Limited.

The shares of RIL ended over 1% higher yesterday.

The Chinese central bank, People’s Bank of China has acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender.

The shares of ICICI Bank ended 3% higher yesterday.

Bengaluru-based realty firm Embassy Group on Tuesday signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies.

The shares of Indiabulls ended over 2% higher yesterday.

Dixon Technologies board meeting is scheduled to be held on August 21 by the issuance of equity, bonds etc.

The shares of Dixon Tech ended nearly a per cent higher yesterday.

Yes Bank on Tuesday divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. The lender offloaded 5.18 crore shares worth over ₹75 crore through the BSE and the NSE, as per bulk deal data. The quantum of shares amounts to 8.28% shareholding in the company.

The shares of CG Power ended 5% higher yesterday.

The Bengaluru-based defence aviation major HAL reported minimum COVID impact in its quarterly earnings. The company posted 1.04% lower consolidated profit at ₹1,226.01 crore for the first quarter ended June 30.

The shares of HAL ended nearly 2% higher yesterday.

The Bombay High Court, in a temporary order, has restrained FMCG firm, Emami, from selling any skincare product under the brand name containing the words “Glow and Handsome”, saying that prima facie Hindustan Unilever (HUL) has used them first in its brands.

The shares of Emami tanked 3% during the session yesterday.

Zee Entertainment reported a 94.3 % fall in its net profit to Rs 30.4 crore. The company said its revenue declined 34.7% YoY to Rs 1,312 crore. Zee Entertainment company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board.

The shares of Zee Entertainment ended nearly 3% higher yesterday

These companies are slated to report their first quarterly earnings today.