Stocks To Watch In Trade Today: Lakshmi Vilas Bank, Laurus Labs
The Sensex has opened more than 100 points higher and Nifty has surpassed the 12,900 mark in opening trades, post the corrective dip witnessed in Wednesday's session, due to broad-based gains in financial stocks.
Here Are Some Stocks To Watch In Trade Today
Lakshmi Vilas Bank
The government, on Wednesday, approved the merger of Lakshmi Vilas Bank with DBS Bank India and removed restrictions on withdrawal of deposits by depositors. And the National Stock Exchange has announced that trading in Lakshmi Vilas Bank shares will be suspended with effect from Thursday.
Laurus Labs shares will be in the limelight after the pharma company acquired a 72.55 per cent stake in biotech company, Richcore Lifesciences for Rs 246.67 crore from Eight Roads Ventures and VenturEast. This acquisition marks the company's entry into the broader biologics and biotechnology segments.
Union Bank of India
Union Bank of India counter will see some action after the state-owned lender proposed to raise up to Rs 6,800 crore during this fiscal to fund its business growth. An extraordinary general meeting (EGM) will be held on December 30, 2020 to seek approval from the shareholders, the bank said.
Siemens shares may hog some attention after the tech major, on Wednesday, reported 4.7 per cent decline in net profit to Rs 333 crore for September quarter mainly on higher expenses due to lockdown. Revenue from continuing operations declined 9.2 per cent to Rs 3,422 crore over the corresponding quarter of the previous year.