PremiumNew Delhi: Following are the top 10 stocks that could be in news on Monday:
PSU Banks: The Confederation of Indian Industry (CII) has urged the Centre to consider setting up "multiple bad banks" to address the problem of rising non-performing assets (NPAs) of state-owned lenders, which has worsened due to covid-led disruptions.
Automobile stocks: Plans by automobile companies to raise vehicle prices from January could upset the demand recovery set in motion after the easing of lockdown curbs. Maruti Suzuki India Ltd, Hero MotoCorp Ltd, Honda Motor Co. and Mahindra and M&M have announced price hikes, effective January, citing the need to protect their margins following rise in commodity pr.
DHFL: The race to acquire bankrupt Dewan Housing Finance Corp. Ltd (DHFL) has intensified with top bidders Oaktree Capital Management and Piramal Group offering to sweeten their bids as the sale process entered final negotiations, two people directly aware of the developments said.
RIL: Reliance Industries and partner BP will get only $4.06 a unit for the new gas they have started to produce from the eastern offshore KG-D6 field despite having discovered a higher rate in an open market auction. While operators have pricing freedom, they can't sell at a rate higher than the government notified cap which is at $4.06 per mmBtu for the six months to 31 March, 2021.
Container Corp: To facilitate the privatisation of state-run Container Corporation (Concor), the Centre plans to halve the lease rates payable by the company for industrial use of the railways’ surplus land to 3%. Also, the land lease period will be extended to 35 years from 5 years now, making it attractive for potential buyers. The Cabinet would consider both the proposals soon.
Shipping Corp: The Centre is likely to invite bids for privatising Shipping Corporation of India this week and buyers will have time till mid February to submit EoIs, an official has said. The government plans to divest its entire 63.75% per cent stake in the entity along with transfer of management control.
Bank of Baroda: The lender has completed integration of 3,898 branches of erstwhile Vijaya Bank and Dena Bank with itself. In a first three-way amalgamation, Vijaya Bank and Dena Bank were merged with Bank of Baroda, effective 1 April , 2019.
ONGC: State-owned Oil and Natural Gas Corp on Sunday opened India's eighth hydrocarbon producing basin when it started oil flow from a well in the Bengal basin. Oil production commenced from the well Asokenagar-1 in 24 Pargana district, the company said in a statement.
Oil India: Numaligarh Refinery Ltd said it has signed an MoU with Oil India Ltd to augment existing pumping capacity of the latter through its pipeline. This will help OIL increase product evacuation from 1.72 million metric tonnes per annum (mmtpa) to 5.50 mmtpa through Numaligarh-Siliguri pipeline.
Reliance Home Finance: Six bidders have submitted bids for Reliance Home Finance Limited (RHFL). Of these, only two bidders have submitted compliant and binding bids and other four bids are non-binding and not compliant with bid conditions. Lenders have decided to extend the bidding deadline till 31 January, 2021, to accommodate the four non compliant bidders.
