Stocks to Watch: HDFC Bank, Infosys, Muthoot Finance, Zee Ent, Axis Bank, and Others
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The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 17,644.50, up 53.5 points or 0.30% from the previous close. ZEEL: Zee Enterprises’ managing director and chief executive Puneet Goenka on Thursday moved appellate tribunal NCLAT challenging the order of the National Company Law Tribunal which admitted an IndusInd Bank plea for insolvency proceedings against the firm. The share price fell over 10% intraday on Thursday, before paring losses to close 3.46% lower. Lemon Tree Hotels: The company approved acquisition of up to 22,00,000 Compulsorily Convertible Preference Shares of Aleur Hotels, APG Strategic Real Estate Pool N.V, existing shareholder. HDFC Bank: The private sector lender announced it raised $750 million through a dollar bond sale. The bank, acting through GIFT City IFSC Banking Unit completed the issue of $750 million Senior Unsecured Bonds. The notes are rated Baa3 by Moody’s