Stocks in news: Jio Financial, Paytm, Axis Bank, Torrent Power, Asian Paints

Equity markets had a strong start to March, with indices scaling to record highs. In Saturday's trade, shares of Jio Financial, Paytm, Axis Bank, Torrent Power, among others, will be in focus due to various news developments.

Jio Financial

Jio Financial has been added to BSE Allcap and LargeMidcap indices in a major rejig. The changes will be effective from March 18.

Paytm

The finance ministry's Financial Intelligence Unit-India (FIU-IND) has imposed a fine of Rs 5.49 crore on Paytm Payments Bank for "violating its obligations" under the Prevention of Money Laundering Act.

Axis Bank

Private lender Axis Bank will raised up to Rs 4,000 crore through non-convertible debentures. The base issue is Rs 1,000 crore and a green shoe option is worth Rs 3,000 crore.

Torrent Power

Torrent Power received a letter of award worth Rs 440 crore from NTPC Vidyut Vyapar Nigam for the supply of power from gas-based power projects.

Aurobindo Pharma

Aurobindo Pharma has received US FDA approval for Fingolimod Capsules, which are used to treat relapsing forms of multiple sclerosis.

Bank of India

Rajiv Mishra has taken charge as the Executive Director of Bank of India with effect from March 1.

Cipla

USFDA has conducted a pre-approval inspection at the manufacturing unit of Cipla arm Jiangsu. The inspection concluded with zero form 483 observations.

Welspun Corp

Welspun Corp arm Sintex Advance Plastics will set up a manufacturing facility at Madhya Pradesh at an investment of Rs 400 crore.

Asian Paints

Asian Paints received a Rs 166 acre of land parcel in Madhya Pradesh for setting up a paint manufacturing facility.