Stocks to Watch: Reliance Industries, Bharti Airtel, Vodafone Idea, Adani Power, Kalyan Jewellers
Ratan Tata-backed BlueStone Jewellery plans to raise over ₹1,500 crore through an initial public offering (IPO). The company is likely to dilute 10-12% stake through the proposed IPO, which will consist of a fresh issue of shares and an offer for sale (OFS)
Here is the list of top 10 stocks that could be in focus on Monday:
Mahindra & Mahindra: The company is likely to invest at least ₹3,000 crore for developing electric vehicles (EVs) over the next three years, with capital expenditure on EVs and internal combustion engine (ICE) vehicles approximating each other. Mahindra & Mahindra (M&M) also aims to launch its first EV SUV, XUV 400, in the first half of the next financial year.
Bharti Airtel: The telco's shareholders have approved the issue of equity shares to Google on a preferential basis for its about ₹7,500 crore investment in the company to buy 1.28%. They have also backed the telco's plans to spend a whopping ₹1.17 lakh-crore in related-party expenses, including opex, via joint venture, Indus Towers, and subsidiaries – Nxtra Data and Bharti Hexacom – over the next four years.
SBI: State Bank of India has tapped the short-term debt market after nearly a decade, raising three month money worth ₹2,000 crore by issuing certificates of deposit (CD) at 3.8%. The return on the CD issued by SBI is around 10 basis points (bps) higher than the cutoff yield on 91-day Treasury bills auctioned by the government on Wednesday.
Tata Motors: Has sold more SUVs in the domestic passenger vehicle market in the last four months than any other manufacturer, cementing the No. 1 position. Its SUV sales jumped to 96,883 units during October-January from 37,242 units in the year-ago period.
Future Retail: Future Retail Ltd, India's second-largest retailer, suspended most of its online and offline operations as stores remained shut on Sunday, after rival Reliance bid to take over its flagship supermarkets for missed lease payments. Reliance Industries Ltd will rebrand the Future stores after the company failed to make payments for them to Reliance.
Sun Pharma: The US-based arm of Sun Pharma is recalling 59,232 bottles of Chlorthalidone tablets, used for reducing excess fluid levels in the body. As per US FDA the New Jersey-based Sun Pharma Inc is recalling the affected lot due to "foreign matter identified as stainless steel microscopic wear particles mixed with punch lubricant oil and silicone particles from the dust cup".
Hindalco Industries: Has entered into a share purchase agreement with Brazilian firm Terrabel Empreedimentos Ltda, to divest entire equity shareholding in Hindalco Do Brazil Industria Comercia de Alumina LTDA (HDB), the wholly-owned step down subsidiary.
Aurobindo Pharma: Is recalling products in the US market due to deviation from standard manufacturing norms. According to the US Food and Drug Administration (US FDA), the US-based arm of Aurobindo Pharma is recalling 1,15,776 bottles of Moxifloxacin Ophthalmic Solution, an antibiotic used in the treatment of bacterial infections. Aurobindo Pharma USA Inc is recalling the affected lot due to "failed impurities/degradation specifications".
Hinduja Global Solutions: Subsidiary HGS International Mauritius has completed the acquisition of Australian company Diversify. In January, its arm entered into a definitive agreement to acquire 100% equity stake in Diversify Offshore Staffing Solutions Pty Ltd, Australia.
Mahindra Lifespace Developers: Kotak Mahindra Mutual Fund bought an additional 2.19 lakh equity shares via open market transactions on 23 February. With this, its shareholding in the company stands at 5.13% now, up from 4.98% earlier.
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