Top stocks to watch on Monday— Indiabulls Housing Finance, Future Enterprises, RIL, Tata Power, Dixon Tech, Rossari Biotech and more

• At 7:55 am, the SGX Nifty was up 0.35% at 8.71 points pointing towards a tepid 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 open in green on Monday, on the back of positive cues from the Asian peers. At 7:55 am, the SGX Nifty was up 0.35% at 8.71 points pointing towards a higher start for Nifty50.

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

Indiabulls Housing Finance

Indiabulls Housing Finance reported a 65.5% drop in its net profit to ₹272.5 crore for the quarter ended June. The company said it expects its loan book to start growing from here on, as it believes the phase of reduction in loan book and AUM (assets under management) is over.

The shares of Indiabulls Housing Finance ended nearly a percent lower on Friday.

Mindspace Business Parks REIT

Public unit holder of the Mindspace Business Parks, BREP Asian SG Pear Holding created an encumbrance of 5.43 crore units amounting to a 9.16% stake in favour of certain overseas financial institutions availed for a credit facility availed by the trust.

“The volume-weighted average price of the Units over which the Encumbrance was created was ₹300.63 as on August 18, 2020,” the company said in a release to the stock-exchanges.

The shares of Mindspace Business Parks REIT ended 2% higher on Friday.

Tata Power

Tata Power announced that the Mumbai bench of the National Company Law Tribunal (NCLT) approved the withdrawal of the scheme of arrangement between the Company, Tata Power Renewable Energy, Supa Windfarm, Nivade Windfarm, Tata Power Green Energy and their respective shareholders and creditors.

The shares of Tata Power ended nearly a percent higher on Friday.

Dixon Technologies

The Board of Dixon Technologies at a meeting held on August 22, has approved raising of funds up to an aggregate amount not exceeding ₹200 crores by way of issuance of any instrument or security, including equity shares, fully / partly convertible debentures, non-convertible debentures, foreign currency convertible bonds, warrants, or any combination thereof, in one or more tranches.

The shares of Dixon Tech ended nearly a percent higher on Friday.

Reliance Industries

RIL concludes amalgamation and merger amongst its wholly-owned subsidiaries Reliance Holdings USA into Reliance Energy Generation and Distribution. Merger entity Reliance Energy and Distribution has further merged into RIL.

The shares of RIL ended nearly a percent lower on Friday.

IIFL Finance Limited

The board of Finance Committee of IIFL Finance Limited will meet on August 26, to consider and approve the offer document and other terms and conditions of the issue and allotment of Non-Convertible Debentures on private placement basis.

The shares of IIFL Finance Limited ended 2% lower on Friday.

Future Enterprises

The board was expected to discuss the merger of three group companies- Future Lifestyle, Future Supply Chain, and Future Retail- in a meeting on Saturday. However, the company announced that it had postponed its board meeting to be held on August 22, by a week to August 28.

The shares of Future Enterprises ended 5% higher on Friday.

Future Retail

Also watch out for Future Retail in trade today. It faces a debt repayment deadline after missing an interest payment of $14 million in July. The 30-day grace period also ended on August 22.

The shares of Future Retail ended nearly 4% lower on Friday

Rossari Biotech

Rossari recorded 14.3% fall in revenue to ₹109.4 crore, but its net profit grew 7.4% to ₹15.2 crore as the cost of goods consumed in the making of its products fell by nearly a third. The input cost was the biggest saving in the latest earnings report.

The shares of Rossari Biotech ended 4% higher on Friday.

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