Stocks to Watch: Reliance Industries, HDFC, Federal Bank, ACC, IIFL Finance

• Facebook will invest ₹43,574 crore for a 9.99% stake on a fully diluted basis in Jio Platforms, a wholly-owned subsidiary of RIL
• Federal Bank will acquire additional equity stake of up to 4% of IDBI Federal Life Insurance from IDBI Bank
• Here is a list of top 10 stocks that may be in focus on Wednesday:
  RIL: Facebook will invest ₹43,574 crore for a 9.99% stake on a fully diluted basis in Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd. Reliance Jio Infocomm Ltd, which provides connectivity platform to over 388 million subscribers, will continue to be a fully-owned subsidiary of Jio Platforms.
  HDFC: The housing finance company (HFC) has lowered its retail prime lending rate (RPLR) on housing loans, on which adjustable rate home loans are benchmarked, by 15 basis points, effective 22 April. This will benefit all HDFC Ltd retail home loan customers.
  Federal Bank: The board of the private lender on Tuesday gave in-principle nod to acquire additional equity stake of up to 4% of IDBI Federal Life Insurance Co Ltd (IFLIC) from IDBI Bank Ltd. Federal Bank Ltd currently holds a 26% stake in the insurance company.
• IIFL Finance: Fitch Ratings has assigned B+ rating to the company’s medium-term note (MTN) programme and placed the debt instrument under watch negative.
  ACC: The cement maker on Tuesday reported a 6.6% year-on-year (YoY) decline in consolidated profit for the March quarter to ₹323 crore, compared with ₹346 crore in the same quarter last year.
  Punjab & Sind Bank: ICRA has downgraded the rating for the bank’s Basel III-compliant tier-1 bonds worth ₹1,000 crore to ICRA A- and maintained negative outlook.
  Shalimar Paints: The paint maker on Tuesday said Equity Intelligence India has bought 1.84% stake and Assured Fi -Cap Pvt Ltd 1.28% in the company during the March quarter.
  Kalpataru Power: The company said its wholly-owned subsidiary JMC Projects (India) Ltd has partially resumed operations at some project sites in the country from 21 April, on lines of the Centre's plans to lift the national lockdown in a phased manner.
• Eveready Industries: The battery maker said operations at its Lucknow and Haridwar plants have partially resumed, while they will re-start in Assam’s Matia plant in a few days.
  Reliance Industrial Infrastructure: The board of the company will today meet to consider and approve financial results for the March quarter and fiscal 2020. Separately, Infomedia Press will announce its earnings for the fourth quarter today.