Stocks to Watch: RIL, Torrent Pharma, Cipla, Jio Financial, SBI, ONGC

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Reliance Industries: Viacom18 Media Pvt. Ltd, a unit of Reliance Industries Ltd (RIL), secured the media rights for all bilateral cricket matches to be played in India during the next five years for ₹5,963 crore through the e-auction conducted by the Board of Control for Cricket in India (BCCI) on Thursday. The RIL-run broadcaster outbid Sony Pictures Networks India across digital and television, while the third bidder, Disney Star, placed just a couple of bids, according to two people familiar with the development.

Torrent Pharma/Cipla: According to sources cited by CNBC-TV18 on August 31, there are indications that Torrent Pharma, headquartered in Ahmedabad, has submitted a preliminary bid with a non-binding nature to acquire a stake from the promoters of the prominent pharmaceutical company, Cipla. In the upcoming weeks, Torrent Pharma is expected to make a decision regarding a formal binding offer. Alongside this, the company is reportedly engaged in discussions with three to four private equity firms and foreign institutions exploring various funding alternatives.

SBI/Bank of Baroda: Fitch Ratings on Thursday affirmed the ratings of the nation's six public sector lenders, including SBI and Bank of Baroda, at BBB- with a stable outlook. The other banks that the agency rated BBB- with a stable outlook are Punjab National Bank, Canara Bank, Bank of India, and Union Bank of India. The rater has also affirmed these banks' viability rating at BB and its government support rating of BBB-.