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NEW DELHI: Here is the list of top stocks that could be in focus on Wednesday:
ITC Ltd: At its first investor meet held on Tuesday, cigarette-to-hotels conglomerate ITC Ltd expressed willingness to list its IT arm, make selective acquisitions in consumer goods, and demerge the hotels business, depending on the recovery of the tourism industry. The company also outlined a capex of around ₹3,000 crore per annum, totalling ₹10,000 crore over next three years.
Axis Bank: Has said it will not join peers in seeking an extension of timelines for meeting financial parameters on loans recast under the Kamath committee framework because of the pandemic-related stress. It also said there were no conversations around a deal with Spandana Sphoorty at present, denying reports of the third-largest lender being interested to buy the micro-lender.
Bharti Airtel: Has said it is collaborating with Capgemini to bring 5G-based enterprise grade solutions to the Indian market. The two companies will bring together their experience in connectivity and 5G solutions, and system integration capabilities, to develop a range of India-focused use cases.
One97 Communications: The anchor lock-in period for One97 Communications, parent of Paytm, expires today. Paytm’s high-profile stock market debut was disappointing with the listing wiping out more than double the money it raised through its IPO worth ₹18,300-crore.
Adani Group: Billionaire Gautam Adani’s realty unit is in advanced talks to take over beleaguered Indian developer Ozone Group at an enterprise value of about $1 billion. Adani Realty Ltd is seeking to take over the Bengaluru-based Ozone, which has an outstanding debt of more than ₹6,000 crore. As part of this transaction, Adani’s 10-year-old developer arm will be taking over the debt of Ozone which has been struggling to repay creditors.
Trent Ltd: Part of the Tata group, plans to reclaim ground in the beauty business it exited 23 years ago. Trent is considering building new lines of in-house cosmetic brands that can be a vehicle of growth. These products can be retailed through existing large-sized outlets under Westside or via standalone stores and through digital channels.
NBFCs: The Reserve Bank of India on Tuesday released a prompt corrective action (PCA) framework for non banking finance companies (NBFCs) detailing punitive action against shadow lenders in case their capital adequacy ratio falls or non performing assets (NPAs) rise above a certain threshold. In a notification on its website the RBI said the new framework, the first of its kind for NBFCs will come into effect from October 1 next year.
Vodafone Idea: Paid holders of non convertible debentures (NCDs), which included their principal amount along with interest, meeting the scheduled deadlines.It said that the unsecured redeemable NCDs were at 7.57% and this comes at a time when the telco has received a big boost from the telecom relief package and is in talks with investors to raise funds.
Glenmark Pharma: Subsidiary Ichnos Sciences, a biotechnology company that develops biologics in oncology and autoimmune diseases, has licensed the commercialisation rights of a monoclonal antibody for autoimmune diseases to Almirall for €20.8 million (around ₹180 crore). Ichnos will receive an upfront payment of €20.8 million as well as additional development and commercial milestone payments and tiered royalties based upon future global sales.
Sugar stocks: A World Trade Organization panel has ruled in favour of Brazil, Australia and Guatemala in their trade disputes with India over sugar subsidies. In the cases brought before the WTO in 2019, the rival producers alleged that India had broken WTO rules by providing excessive domestic support and export subsidies for sugar and sugarcane. India will appeal the ruling.
