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Stocks to Watch: Reliance, Future, RBL Bank, SBI Card, M&M

Equity indices nursed losses on Friday after a three-session rising streak as selling in banking, finance and power stocks offset continued outperformance by the IT pack. (PTI)Premium
Equity indices nursed losses on Friday after a three-session rising streak as selling in banking, finance and power stocks offset continued outperformance by the IT pack. (PTI)

  • HP Adhesives shares are expected to list on BSE and NSE today. The final issue price is 274/ share. Last Friday, HCL Tech was the top gainer in the Sensex pack, rising 3.08%, followed by Tech Mahindra, Asian Paints, Wipro, Infosys, Reliance, ITC, and TCS. On Nifty also, IT stocks saw a jump.

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

Reliance Industries: The company has received approval from the National Company Law Tribunal (NCLT) to withdraw its plan to demerge its oil-to-chemical (O2C) business into a separate unit. With this, RIL's earlier plan to rope in global oil giant Saudi Aramco as a stakeholder in the new unit comes to an end. Also, healthcare platform Karkinos Healthcare has received an undisclosed amount of investment from Reliance Digital Health.

Mahindra & Mahindra: Riding on the success of its recent model launches, homegrown auto major Mahindra & Mahindra is looking to further strengthen their product portfolios in 2022. The company is set to launch Scorpio early next year and is eyeing the numero uno spot in the SUV segment. The company has already announced the launch of 13 new products by 2027.

Future Retail: Lenders to Future Retail Ltd are in initial talks on whether they should take a more active role to offload some of the group’s non-core assets in a bid to salvage their loans, said a person aware of the development. “Non-core asset sales planned as part of the debt recast process have not fructified. Banks are discussing whether they would like to take control of the process and push for it. However, discussions are still at a preliminary stage," the person cited above said, requesting anonymity.

ZEEL: Zee Entertainment Enterprises Ltd and Sony Pictures Networks India will have to pony up a $100 million termination fee if either of them decide to end their $7 billion merger, making any move to break up not only hard but very expensive.

Adani Transmission: Adani Transmission Ltd (ATL), a private sector power transmission company and part of the diversified Adani Group, on Friday announced that they had received the Letter of Intent (LoI) for the acquisition of a renewable energy evacuation system under Khavda-Bhuj Transmission Ltd, worth 1200 crore.

GMR Infrastructure: GMR Airports Netherlands B.V., a subsidiary of GMR Airports Limited (GAL), has signed a Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA) with Indonesia's state-owned airport operator Angkasa Pura II for the development and operation of the South East Asian country's Kualanamu International Airport, the company said in a statement on Friday.

RBL Bank: Private lender RBL Bank on Saturday said its chief executive Vishwavir Ahuja will go on leave with immediate effect, adding that the board has appointed executive director Rajeev Ahuja as an interim replacement. However, the interim chief executive said RBL Bank and its management have the complete support of the Reserve Bank of India (RBI) and the appointment of a central bank executive on its board has nothing to do with the lender’s financials.

Canara Bank: Canara Bank on Friday said it has raised 2,500 crore by issuing Basel-III compliant bonds to a total of 10 allottees. The bank has successfully raised Basel-III compliant tier-II series I bonds, Canara Bank said in a regulatory filing.

SBI Card: SBI Cards and Payment Services will raise 650 crore through issuance of bonds on a private placement basis, the company informed the stock exchanges today.

United Breweries: The National Company Law Appellate Tribunal (NCLAT) has stayed the orders passed by the CCI slapping penalties on several beer makers, including United Breweries Ltd (UBL). The fair trade regulators has imposed a fine of 751.8 crore on UBL.

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