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HCL to acquire 100% of shares in DWS; RITES Approves buyback of 97 lk shares | Top stocks

Top stocks in focus:
-HCL Tech
HCL will acquire 100% of shares in DWS, Deal Values DWS Issued Equity At A$162.15 Million

-RITES
Approves buyback of 97 lk shares (represents 3.9% equity) at `265/ share. The Maximum buyback size is `257 cr.

-Zydus Wellness
The company has approved the allotment of 21.2lk shares worth Rs 349.9cr to Zydus Family Trust and approved equity fund raising up to Rs 750cr

-MEDIA STOCKS
CLSA’s report says that the top pick is Zee as valuation is compelling at 12x PER for FY22CL. The brokerage reiterates abBuy ratings on Sun TV, Dish TV, Jagran & DB Corp saying the media businesses are resilient and have net-cash balance sheets and India media is seeing a rapid recovery in advertising revenues post Covid-19

-COLGATE INDIA
Nomura India maintains a Buy rating with a target `1620/share saying volumes have improved from 1Q (-4% y-y) levels and are witnessing growth and sales to be further augmented by some trade- channel filling that had reduced in 1Q.