Stocks to Watch: Reliance Industries, HUL, auto stocks, banks2 min read . Updated: 10 Sep 2020, 07:47 AM IST
- Minority shareholders of Grasim Industries, who own 60% stake in the company, are unlikely to agree for further investment in Vodafone Idea
NEW DELHI: Here is the list of top 10 stocks that could be in focus Thursday:
Reliance Industries: Is looking to raise ₹60,000-63,000 crore by selling a 15% stake in Reliance Retail Ventures to clutch of private equity investors and sovereign wealth funds. Fresh shares will be issued and the company expects to compete the exercise by end of October, Economic Times reported.
Hindustan Unilever: The Central Drugs Standard Control Organisation (CDSCO) has served a show cause notice to Hindustan Unilever Ltd (HUL) over an advertisement of its Lifebuoy brand of hand sanitiser. HUL claimed in its advertisement that the Lifebuoy immunity-boosting hand sanitiser improves immunity, thus helping fight coronavirus.
Auto Stocks: Showroom sales of passenger vehicles and two-wheelers continued to improve on a month-on-month basis in August as rural and semi-urban markets sputtered to life after the lockdown and people purchased personal vehicles to guard against coronavirus. On a year-on-year (y-o-y) basis, however, sales were down—though yet to touch last year’s low.
Banks and financial stocks: Banks and non-banks will restructure up to ₹10 trillion in debt or 8% of outstanding loans under the one-time debt recast scheme announced by the Reserve Bank of India, rating agency Icra said on Wednesday. Also, the Supreme Court is set to resume hearing in the loan moratorium case today.
Vodafone Idea: Minority shareholders of Grasim Industries, who own 60% stake in the company, are unlikely to agree for further investment in Vodafone Idea, Business Standard reported citing bankers. This is because they have seen zero returns on their investments in the telecom company.
TVS Motors, Bajaj Auto: Reports that the government will limit export incentives under the Merchandise Exports from India Scheme (MEIS) is expected to impact two wheeler exporters Bajaj Auto and TVS Motor the most, as per analysts.
Indiabulls Housing Finance: Launched its QIP (qualified institutional placement) on Wednesday and set the floor price at ₹206.70 per equity share for the issue. It has said that the Securities Issuance Committee will have a meeting on 14 September to approve the issue price, including a discount, if any, for the equity shares to be allotted to the qualified institutional buyers.
Adani: The Rajasthan High Court on Tuesday temporarily stayed an Adani group's joint venture project with the state government for building a 1500 MW solar energy park near Pokhran in Jaisalmer.
Bharat Dynamics: The government on Wednesday said it has received subscriptions worth ₹770 crore from institutional and retail investors in the offer for sale (OFS) of defence firm Bharat Dynamics Ltd (BDL). The government sold over 2.74 crore shares in BDL at a floor price of ₹330 a piece.
Economy: Non-payment of full GST compensations by the Centre is among the factors which may result in up to ₹3 lakh crore cut in capital expenditure by the states in FY21, rating agency Icra has said. The borrowing alternative offered by the Centre to make up for the shortfall in the promised compensation will lead to the states' fiscal deficits widening to 4.25 - 5.52%.