Stocks to Watch: Bharti Airtel, Vodafone Idea, Bank of Baroda, Jet Airways, ZEEL2 min read . Updated: 18 Dec 2019, 08:01 AM IST
Here’s a list of stocks that may be in news today
Telecom stocks: The Telecom Regulatory Authority of India has deferred the decision to scrap interconnect usage charges by one year to January 2021, following which operators will continue to earn 6 paise a minute for every mobile call that lands on their network till 31 December 2020. This will come as a relief to Bharti Airtel and Vodafone Idea which were against scrapping IUC. Jio, on the other hand, wanted the charge scrapped.
Bank of Baroda: The public sector lender under-reported bad loans by ₹5,250 crore for the fiscal 2018-19, as per the Reserve Bank of India’s risk-assessment report. Bank of Baroda’s divergence in provisions for NPAs stood at ₹4,090 crore, it said in a regulatory filing on Tuesday.
Jaypee Infratech: The e-voting on bids to acquire assets of insolvent Jaypee Infratech ended on Monday, with 97.3% of homebuyers and lenders, including IDBI Bank, voting in favour of state-owned NBCC’s offer. Buyers had 58% votes and rest lied with bankers. 66% votes were required for a bid to be approved.
ZEEL: Brickwork Ratings India has downgraded the credit rating of Zee Entertainment Enterprises Ltd’s (ZEEL) 6% Cumulative Redeemable Non-Convertible Preference Shares aggregating ₹1210.16 crore & the Issuer rating from AA ‘plus’ to AA. The downgrade factors in the resignation of certain Independent directors and the company secretary, along with dilution of controlling stake of the promoter and promoter group which now owns 5%.
Jet Airways: The aviation ministry and Directorate General of Civil Aviation (DGCA) on Tuesday informed the National Company Law Tribunal (NCLT) that they will positively consider any concrete business plan for the grounded Jet Airways. The ministry also said that two new foreign investors have shown very early interest for the grounded airline besides South America’s Synergy Group, which is the sole company to have shown interest in Jet Airways till now.
PC Jeweller: Markets regulator Sebi on Tuesday ordered impounding of alleged unlawful gains of more than ₹8 crore made by two promoters and related entities of PC Jeweller in an insider trading case.
Metal stocks: Metal stocks may be in focus today as a breakthrough US-China trade deal has boosted investor confidence while removing some impediments in the way of global economic growth. China and the US are the world’s top consumers of metals.
Piramal Enterprises: Piramal Group’s real estate unit Piramal Realty is looking to build affordable homes with plans to expand its portfolio and double residential development to 30 million sq.ft over the next year, said a senior executive. At present, the firm has four under-construction residential projects spanning 15 million sq.ft in Mumbai and plans to add three-four projects by 2020.
NBFC stocks: The Reserve Bank of India (RBI) is looking to steadily tighten regulation of non-banking financial companies (NBFCs) without causing any disruption to the current recovery of the sector, RBI governor Shaktikanta Das said. NBFC regulation is not as strong as banks.
Tata Motors: The company expects commercial vehicle (CV) business to remain in the slow lane for next few months and witness turnaround only by the second half of the next fiscal, its CEO and MD Guenter Butschek said. With demand expected to remain muted, the company aims to go slow in introducing BS-VI compliant CVs in the domestic market.