The key benchmark indices may look to consolidate at the start of the week, before the action heats up with Q3 earnings from the IT sector. As of 08:00 AM, the SGX Nifty January futures were quoted at 17,928 as against the spot Nifty close of 17,813 on Friday. Meanwhile, here are the stocks in focus for trade today.
Earnings Watch: 5 Pisa, Gang Papers, GI Engineering, RNA Axles, Thames Modern Spinning and Vikas Life care are scheduled to announce December quarter results today.
Reliance (RIO): The Mukesh Ambani led firm has spent $5.7 billion on acquisitions and investments across various sectors over the past four years, the latest being its acquisition last week of a majority stake in the luxury hotel Mandarin Oriental in New York for $98.2 million and a 25.8 per cent stake in Dunno, a hyper local delivery platform, for $200 million.
TCS: India's largest IT firm’s board plans to consider a share buyback proposal on January 12 when it meets to announce the Q3 results.
Meanwhile, Tata Consultancy Services (TCS) has also been selected to implement the second phase of the Passport Seva Program, the country’s largest mission critical e-governance program till date. TCS will be managing the project for another nine-and-a-half years, which can be extended for two more years.
Bank, Dish TV: YES Bank, the largest shareholder in Dish TV India with a 25.6 per cent stake acquired by way of loan recovery, is planning to sell its holding to Tata Sky and Bharti Airtel. Other institutional investors, who jointly own 45 per cent in Dish TV, are also keen to sell their stake, according to banking sources. READ MORE
Airline stocks: India’s largest carrier IndiGo will cut 20 per cent of its flights due to lower demand as a rapidly spreading coronavirus upends the recovery of air travel. Meanwhile, other airlines are being forced to cancel flights as states tighten restrictions to combat the spread of the virus, and people are dropping last-minute travel plans. READ MORE
Bajaj Hindustan: The Uttar Pradesh Cabinet has approved a proposal to impound Rs 1,000 crore from Bajaj Hindustan's power plant in the state to pay sugarcane farmers. According to the amended UP Sugarcane (regulation of supply and purchase) Act 1953, government agencies can impound the assets of the group companies if any firm defaulted on the payment of sugarcane dues.
Mother son Sumi: The company has fixed January 17 as the record date for merger of its Domestic Wiring Harness business into Mother son Sum Wiring India and merger of Samvardhana Mother son International, the resultant company.
Sundeck Realty: The company informed BSE, that it had 29 per cent Qom jump in pre-sales to Rs 352 crore, and collections of Rs 270 crore, up 30 per cent on a Qom basis.
Bharti Airtel: The telecom major on Friday said it will pay interest on the deferred spectrum and adjusted gross revenue (AGR) liabilities, and will not issue equity to the government. Airtel owes the government around Rs 1 trillion in spectrum and AGR dues as of now.
Spandau Sporty: The troubled microfinance institution (MFI) has sought forbearance and a waiver from its lenders as regards some conditions in agreements on borrowing funds. While it is servicing all borrowing, there has been a breach in certain covenants on account of a rise in non-performing assets (NPAG) and a change in management, the MFI said in a filing with the BSE.
JSW Steel: JSW Steel said it will be investing Rs 15,000 crore to expand capacity at its Vijayanagar facility in Karnataka for commissioning in FY24. Of the total six-million-tonne expansion planned, the new part of the project consists of 5 million tonnes and one million tonnes at the existing facility through optimization.
Stainless: Ratings agency, Crisis Ratings, has upgraded the long-term bank facilities ratings of Stainless to AA-/Stable from A+/stable. The rating of JSL’s short-term bank facilities have been reaffirmed at Crisis A1+.
Lupin: The drugmaker on Friday said it has launched an antiviral medication any under the brand name Modulus in India for the treatment of COVID-19. Molnupiravir has been given emergency use authorization by the Drug Controller General of India(DCGI) for treatment of adult COVID-19 patients who have a high risk of progression of the disease, including hospitalization.
SBC Exports: The company’s board has approved proposals for 1:1 bonus shares and a stock split in 1:10 ratio.
HKG: The company’s board is scheduled to meet on January 12 to consider proposals for bonus issue of equity shares, and migration of the company from SME Platform of BSE to the main board of BSE.
Stocks in F&O ban: Delta Corp and RBL Bank are the only two stocks in the F&O ban period today.
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