Home / Markets / Stock Markets /  Stocks to Watch: Harsha Engineers, Kotak, Reliance, ONGC, Coal India

Here is the list of top 10 stocks that will be in focus today:

Harsha Engineers: Bearing cages manufacturer, Harsha Engineers, will make its market debut today. The company's 755 crore IPO is the most subscribed public offer for the current year. Qualified institutional buyers showed a strong appetite for the IPO, while retail and high net-worth investors also tapped the issue robustly. The IPO received a massive 74.70 oversubscription overall.

Kotak Bank: The Kotak Group on Friday announced a senior management rejig which will see Lakshmi Iyer take charge as the chief executive of its investment advisory business. Iyer, the chief investment officer for fixed income and head of products in the asset management business, succeeds Srikanth Subramanian who was earlier appointed as the head of Kotak Cherry. Deepak Agarwal will now lead the fixed income investment team as chief investment officer - fixed income, at Kotak Mahindra Asset Management Company (KMAMC), while Abhishek Bisen has been elevated as head, fixed income, as per a statement.

Reliance: Reliance Retail’s digital commerce platform JioMart is gearing up for the festive season as its readies to compete with the likes of Flipkart and Amazon this year. The platform will operate like a marketplace offering multiple brands with items spanning electronics, consumer durables, fashion and lifestyle, beauty, home and kitchen and grocery. On Friday, JioMart announced the roll-out of its month-long sale period for the upcoming festival season. JioMart has increased the selection multifold by onboarding additional sellers across categories.

Vedanta: Metals and oil conglomerate Vedanta Ltd's proposal to reorganise capital and transfer 12,587 crore from general reserves to retained earnings has won the backing of US-based proxy advisory firm Glass Lewis. Vedanta convened a meeting of shareholders of the company on October 11 for approval of a scheme of arrangement. In a notice to shareholders, Vedanta reasoned that the firm had over the years "built up significant reserves through the transfer of profits".

Coal India: State-owned CIL will sign agreements with three public sector enterprises -- Bharat Heavy Electricals Ltd (BHEL), Indian Oil Corporation Ltd (IOCL) and GAIL (India)-- in order to set up four surface gasification projects. Through the gasification process, coal is converted into syngas -- a fuel gas -- which can be used in the downstream production of value-added chemicals. The government aims to achieve 100 million tonnes of coal gasification in the next eight years in order to reduce the import of crude oil which is otherwise used to produce syngas.

Reliance Capital: Piramal Group and Zurich Insurance plan to form a joint venture for taking over Reliance General Insurance, a subsidiary of debt-ridden Reliance Capital undergoing a resolution process. Both Piramal and Zurich, which had submitted separate non-binding bids for the general insurance business of Reliance Capital in August, may hold 50% each in the proposed special purpose vehicle (SPV), sources said.

ONGC: Iran has offered ONGC Videsh Ltd and its partners a 30% interest in the development of the Farzad-B gas field in the Persian Gulf that was discovered by the Indian consortium, officials said. ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), in 2008 had discovered a giant gas field in the 3,500 square kilometres Farsi offshore block. In April 2011, it submitted a master development plan (MDP) to bring the discovery, which was named Farzad-B, for production but negotiations got stalled as international sanctions were slapped on Iran over its nuclear plans.

BPCL: State-owned Bharat Petroleum Corporation Ltd (BPCL) on Saturday said it has signed an agreement with Brazilian national oil company Petrobras for sourcing crude oil from the Latin American nation as part of plans to diversify its sourcing needs. BPCL imports a large volume of crude oil which is turned into fuel such as petrol and diesel at its three oil refineries at Mumbai, Bina in Madhya Pradesh and Kochi in Kerala.

Vodafone Idea: Vi Business, the enterprise arm of telecom operator Vodafone Idea Limited, said on Friday it has partnered with utility solutions provider Trilliant for the development of advanced metering and smart grid systems in India. The partnership will help Vi Business and Trilliant leverage joint domain expertise to create and implement integrated IoT (Internet of Things) solutions for Advanced Metering Infrastructure (AMI) projects in India, Vodafone Idea Limited said in a statement.

Nestle India: Global food & beverage conglomerate Nestle SA plans to invest 5,000 crore in India in the next three-and-a-half years by 2025, its CEO Mark Schneider said on Friday. The move will help the company to accelerate its core business in the country and leverage new opportunities for growth. The investment would be on capex (capital expenditure), setting up new plants, acquisitions and expansion of the product portfolio of the company. Nestle, which currently operates 9 plants across India is also looking at new locations to set up manufacturing capacity.

 

 

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