S&P Global Ratings has retained its forecast of a 9% contraction in the Indian economy for this fiscal while pegging FY22 growth at 10%. GDP shrank 7.5% in Jul-Sep compared to an massive 23.9% contraction in the June quarter
New Delhi: Here is the list of top 10 socks that could be in focus on Tuesday:
Auto Stocks: M&M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp, among others, will release their November sales data.
Tata Consumer: Tata group’s offer to buy the Coffee Day Group’s beverage vending machine business has hit a hurdle with two lenders to the struggling coffee chain blocking the deal until their dues are cleared, two people with direct knowledge of the matter said.
SP Group: Shapoorji Pallonji Real Estate plans to start shared living and student housing projects to diversify its portfolio and capitalise on an alternative asset class targeted at millennials who rely on renting instead of owning homes, a top company executive said.
Tata Sons: Plans to gradually raise its stake in AirAsia India to more than 76% by the end of 2020-21, the Business Standard reported, citing sources. Tatas increasing stake in the airline will give an exit route to Malaysia's flagship budget carrier AirAsia Berhad, which holds 49% stake in the airline.
ICICI Lombard General Insurance: The company has received in-principle approval of the Insurance Regulatory and Development Authority of India to the draft scheme of arrangement between the company and Bharti AXA General Insurance.
Bank stocks: Bank credit to most segments including retail and home loans remained under pressure in October. But those extended for wholesale trade, MSMEs, loan against shares and vehicle loans were outlier with higher growth than last year, according to data from the Reserve Bank of India.
Reliance Capital: The Anil Ambani-led company has defaulted interest payment on its ₹690 crore of outstanding borrowings from Housing Development Finance Corporation (HDFC) and Axis Bank. The amount includes accrued interest up to 31 October.
Future Consumer: Bennett, Coleman & Company reduced stake in the company to 4.25% from 6.33% through open market transaction.
Indian Hotels Company: Has signed a three-hotel deal with Ambuja Neotia Group as it seeks to make deeper inroads into eastern India. The new projects in the region include two in Kolkata and one in Patna. The Ambuja Neotia Group has outlined an investment of ₹800 crore for the project.
Hindustan Construction Company: In a joint venture with Vensar Constructions Company Ltd, has been awarded orders worth ₹236 crore in two separate contracts from the Northeast Frontier Railway for the construction of single line BG tunnels Lot 14A and Lot 15A on a 51.38-km long Bairabi-Sairang New BG Rail line in Manipur.