New Delhi: Here’s a list of top stocks that may be in news on Thursday.
Bharti Airtel: Directors of Bharti Airtel Ltd on Wednesday approved the telecom operator’s proposal to raise up to $3 billion (around ₹21,500 crore) through a mix of equity and debt. The funds will be used to pay the company’s estimated dues of ₹35,586 crore to the department of telecommunications (DoT).
Reliance Industries: Reliance Jio Infocomm Ltd, a subsidiary of Reliance Industries Ltd, on Wednesday revealed new tariff plans with unlimited voice and data services. The new tariffs range from ₹199 a month to ₹2199 for one year. While the tariffs have been hiked by up to 40%, customers will now get 300% more benefits, the company said in a statement. The new rates will be effective 6 December.
Banking Stocks: Reserve Bank of India (RBI) governor Shaktikanta Das-headed Monetary Policy Committee (MPC) on Wednesday will announce the decision on repo rate amid high expectations of another reduction in the key policy rate to revive the sagging economy. If the RBI cuts the repo rate on Thursday, it would be the sixth reduction in the short-term lending rates in 2019.
Vedanta: The board of the company in a meeting held on Wednesday approved raising up to ₹3,000 crore via non-convertible debentures (including the option to retain oversubscription of up to ₹1,500 Crores) in two series.
Ashok Leyland: Hinduja Group flagship Ashok Leyland on Wednesday said it will suspend manufacturing operations at some of its plants for up to 12 days in December. The non-working days will be observed to align its production with sales, the company said in a regulatory filing.
State Bank of India: The SBI board on Wednesday approved the lender’s proposal to sell 8.25% stake in UTI AMC. The public sector lender will divest up to through IPO by way of offer for sale of up to 1,04,59,949 equity shares. SBI, Life Insurance Corporation Punjab National Bank (PNB) and Bank of Baroda (BoB) own 18.5 per cent stake each in UTI AMC.
DHFL: The RBI has retained the three-member advisory committee it appointed last month to assist the administrator of the crippled mortgage lender Dewan Housing Finance (DHFL), which is facing insolvency proceedings. Also, the company’s administrator has appointed Sunil Kumar Bansal as the chief financial officer with immediate effect, it said in a filing to exchanges.
ICICI & HDFC Bank: The Securities and Appellate Tribunal on Wednesday asked Sebi to pass a final order in the pleas filed by ICICI Bank, HDFC Bank, IndusInd Bank and others against the regulator’s move to transfer pledged shares to clients of the troubled Karvy Stock Broking Ltd. Karvy owes ICICI Bank ₹642 crore and HDFC Bank had granted the brokerage a loan facility of ₹350 crore.
United Breweries: India’s largest brewer, United Breweries Limited (UB), on Wednesday announced the rollout of speciality beer-- Ultra Witbier--under its flagship Kingfisher brand, riding on the growing popularity of craft brews in India’s top metros.
Metal Stocks: The US and China are moving closer to agreeing on the quantum of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang. According to a Bloomberg report, US negotiator expect a phase-one deal with China to be completed before American tariffs are set to rise on December 15.