Top stocks to watch — Lakshmi Vilas Bank, Future Consumer, Laurus Labs, Union Bank, Vakrangee, Kesoram Industries, and others

• At 7:45 am, the SGX Nifty was up 0.03%, indicating a flat start for Nifty50.
• Here’s a list of stocks to watch for in trade today.
• Check out the latest news and updates on Business Insider.

Indian stock-market indices are likely to start on a tepid note today, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.03%, indicating a flat start for Nifty50.

On Wednesday, the US stocks dipped from its record levels on disappointing economic data and soaring COVID-19 cases. The Dow Jones Industrial Average closed 174 points lower, and the S&P 500 was down 0.16%.

These are the stocks to watch out for during the trading session today:

Lakshmi Vilas Bank

The Reserve Bank of India said the amalgamation of Lakshmi Vilas Bank with DBS Bank India would come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day.

The National Stock Exchange (NSE) will suspend trading on the shares of the Lakshmi Vilas Bank (LVB) with effect from today.

The shares of Lakshmi Vilas Bank ended 5% higher on Wednesday.

Future Consumer

The recently appointed CEO of Future Consumer, Rajnikant Sabnavis, has resigned from his position.

The shares of Future Consumer ended 5% higher on Wednesday.

Laurus Labs

Drug firm Laurus Labs announced that it had signed definitive agreements with the Eight Roads Ventures, VenturEast Proactive Fund, and VenturEast Life Fund III to acquire 72.55% stake in biotech firm Richcore Lifesciences for a cash consideration of ₹246.67 crore.

The shares of Laurus Labs ended 1.64% lower on Wednesday.

Union Bank

The board of the state-owned Union Bank of India board has approved raising upto ₹6,800 crore during this fiscal to fund business growth.

The shares of Union Bank of India ended 3% higher on Wednesday.

Fine Organic Industries

Fine Organic Industries Limited informed the exchanges that it had commenced operations at its newly opened company facility in Maharashtra.

The shares of Fine Organic Industries ended 2.38% lower on Wednesday.

Vakrangee

Vakrangee has withdrawn the amalgamation of its subsidiaries Vakrangee Logistics Private and Vakrangee Finserve with Vakrangee Limited. The company said its amalgamation scheme is presently pending with NCLT to seek appropriate directions.

Still, there have been substantial changes in the business environment in the last few months, and the management of the company is of the opinion that, considering the present scenario, it would not be prudent to proceed with proposed amalgamation.

The shares of Vakrangee ended 2% higher on Wednesday.

Kesoram Industries

BK Birla Group flagship Kesoram Industries said its consortium of lenders had given their in-principle approval to a resolution plan to raise funds and restructure debts. The total debt of the company currently stands at over ₹2,000 crore.

The shares of Kesoram Industries ended 6% higher on Wednesday.

SEE ALSO: US stocks dip from record levels on disappointing economic data and soaring COVID-19 cases

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