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market | IST

Top stocks to watch out for on October 4: Federal Bank, L&T, RCom, AB Capital

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Indian equity market is likely to open weak on Thursday, tracking weakness in Asian shares coupled with macro-economic concerns back home due to weakening rupee and steady fund outflows. Stocks such as RCom, Federal Bank and L&T are likely to see some action today.

Indian equity market is likely to open weak on Thursday, tracking weakness in Asian shares coupled with macro-economic concerns back home due to weakening rupee and steady fund outflows.
The Singapore-traded SGX Nifty is down over 110 points as of 7.40 am IST as compared to Nifty October Future's Wednesday close of 10,880 indicating a weak opening for the Indian equities.
Following stocks are likely to move in trade today:
Federal Bank: The lender was fined Rs 5 crore by the RBI for non-compliance with certain norms.
Larsen & Toubro: The state-owned firm's board members gave nod for the buyback of equity shares.
AB Capital: IFC has extended a 7-year long-term loan of Rs 1,000 crore to Aditya Birla Finance Ltd. ABFL will use the proceeds to finance renewable energy projects and help the country move towards its target of 175 GW of renewable energy capacity by 2022.
RCom: Granted relief by the Telecom Disputes Settlement and Appellate Tribunal. The company will receive Rs 975 crore from the sale of spectrum. It will pay Ericsson Rs 550 crore and RITL minority investors Rs 230 crore from the spectrum trading proceeds as already approved by lenders.
GHCL: CARE long term rating revised to CARE A+ Stable from CARE A. Short term CARE A1+ from CARE A1.
Bharti Airtel: The company strengthened Artificial Intelligence portfolio after announcing an acquisition deal with AuthMe - an AI focused startup. As part of the deal, the core team of AuthMe will join Airtel and be a part of Airtel X Labs in Bengaluru.
Infosys: Infosys Foundation to build Center for Handling Cybercrime Investigation. Also, the company has been assigned A3 Rating with Stable Outlook by Moody's Investor Service.
Tata Power: Launched an extensive residential rooftop solution in Ajmer, Rajasthan.
Hathway Cable: Clarifying on reports that Reliance Industries was in talks with the company to acquire a stake, Hathway said that it generally evaluates from time to time various options and do not comment on any market speculations.
Jubilant industries: Ind- Ra long term rating affirmed to IND BBB/Stable.
Amara Raja: Amara Raja Batteries Ltd and Johnson Controls, Inc. have signed a technology collaboration agreement to bring a new wave of battery technologies to India for 20 years.
TVS Motors: Apache RTR 160 4V crosses 1 lakh sales milestone in a record span of six months since its launch.
GATI: Clarified that the board of directors of the company at their meeting held on April 26, 2018, advised management to look for inducting a new strategic and/or financial partner to re-position Gati as a global leader in the logistic space.
Shriram Transport: Clarified with regard to the corporate guarantee given by the company on June 30, 2015 in connection with NCD worth Rs 650 crore that the said corporate guarantee has been terminated with immediate effect.
Indian Hume Pipe: Care long term rating reaffirmed at CARE A+STABLE.
AU Small Finance: CRISIL has upgraded rating to 'CRISIL AA-/Stable' from ''CRISIL A+/Positive.''
L&T Financial Holding: Board meeting on October 8 to consider raising of funds via NCD worth Rs 250 crore.
 
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