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Stocks to Watch: Future Group, Reliance, IEX, SBI, Vodafone Idea

Sensex closed trading on Monday at 58,465.89, down 1170.12 points, or 1.96%, while Nifty closed at 17,416.55, down 348.25 points, or 1.96%. (ANI Photo)Premium
Sensex closed trading on Monday at 58,465.89, down 1170.12 points, or 1.96%, while Nifty closed at 17,416.55, down 348.25 points, or 1.96%. (ANI Photo)

  • Shares of Latent View Analytics is going to list at Indian bourses today. On Monday, Equity markets opened flat but immediately plunged into red for the 4th consecutive session, finally ending the session with 2%. Broader indices too mirrored the benchmark and closed almost 3% down

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Here is the list of the top 10 stocks that are likely to be in focus on Tuesday:

Future Group: US retail giant Amazon had asked Kishore Biyani-led Future Group to withdraw its complaint before Competition Commission of India as the two tried to find a possible end to bitter tussle over investments. Amazon - which is contesting the deal between Future group and Reliance Retail - also discussed its exit in lieu of compensation, according to reports.

SBI: State Bank of India (SBI) on Monday listed its $650-million green bonds simultaneously on the India International Exchange (India INX) and the Luxembourg Stock Exchange.

This dual listing is in line with this year's topic of the World Investor Week, 'sustainable finance', as indicated by regulatory body International Financial Services Centres Authority (IFSCA), India INX said in a statement.

PNB: Fitch Ratings has affirmed ratings for various public sector banks, including Bank of Baroda (BoB), State Bank of India (SBI) and Punjab National Bank (PNB), at 'BBB-' with the outlook being negative.

The operating environment OE outlook of Indian banks has been revised to stable from negative, reflecting a better recovery than Fitch expected in business and economic activity following the Covid-19 pandemic second wave.

Vodafone Idea: Analysts said Airtel’s step to raise prepaid mobile rates by as much as 25% is an indication that the five-year-long tariff war initiated by Jio’s entry into the sector in 2016 may finally be coming to an end with Aditya Birla Group’s Vodafone Idea and Jio also planning to raise tariffs. Two people familiar with Vodafone Idea and Jio’s plans confirmed the development.

Reliance: Reliance Jio has lost around 1.9 crore wireless subscribers in the month of September, while Bharti Airtel added 2.74 lakh subscribers in the same period, according to the data released by Telecom Regulatory Authority of India (Trai). The subscriber base of Airtel stood at 35.44 crore in September as against 35.41 crore users in August, while India's largest telecom operator Reliance Jio had 42.48 crore mobile subscribers.

IEX: India Energy Exchange (IEX) on Monday said that it has resumed trading of renewable energy certificates (RECs) effective 24 November, after a gap of almost 16 months.

A power exchange functions on the lines of commodity exchanges and provides a platform for buyers and sellers of electricity to enter into spot contracts for the same day, coming day, and on a weekly basis up to 11 days. Of about 1,381 billion units (BU) of electricity consumed in India, only 7% is traded on power exchanges.

Spandana Sphoorty Financial Ltd: Spandana Sphoorty Financial Ltd on Monday said Shalabh Saxena, currently the head of Bharat Financial Inclusion Ltd, has accepted the position of managing director and chief executive. This comes after the exit of founder Padmaja G. Reddy earlier this month.

DLF: DLF Cyber City Developers Ltd (DCCDL), the rental arm of real estate firm DLF Ltd, on Monday said it has raised 1,000 crore through the issue of non-convertible debentures (NCDs) to investors.

In a regulatory filing, DLF informed that the listed, secured and redeemable non-convertible debentures have been allotted at 6.7% annual fixed coupon, maturing in September 2024. The proceeds will be used to refinance its existing debt resulting in interest savings and marks DCCDL’s foray into the listed debt capital market and widening its investor base, the company said.

SpiceJet: Low-cost airline SpiceJet Ltd today has bought back Boeing 737 MAX aircraft, which were grounded around the world after two fatal (Ethiopia and Lion Airways) crashes, after a gap of over two years

After a long wait of over two years, India's aviation regulator Directorate General of Civil Aviation (DGCA) has finally allowed SpiceJet to restart its Max aircraft for commercial use by passengers.

Paytm: Shares in the owner of Indian financial technology giant Paytm tumbled for a second day, with the declines inflicting about $900 million in losses on investors that bought into the much-hyped initial public offering this month.

The stock of Paytm’s parent One97 Communications Ltd. closed Monday nearly 37% below its IPO price after suffering through more heavy selling pressure.

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