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Business News/ Markets / Stock Markets/  Stocks to Watch: Reliance Industries, IndiGo, IndusInd Bank, Piramal Enterprises
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Stocks to Watch: Reliance Industries, IndiGo, IndusInd Bank, Piramal Enterprises

New York-based private equity firm General Atlantic may invest around ₹10,000 crore for a 2% stake in Jio Platforms Ltd
  • India's largest domestic airline IndiGo is in the process of putting together a bid for bankrupt airline Virgin Australia
  • Top stocks that could be in news in today's session. Photo: iStockPremium
    Top stocks that could be in news in today's session. Photo: iStock

    NEW DELHI : Here’s a list of stocks that could be in news in Tuesday’s trade:

    Reliance Industries: New York-based private equity firm General Atlantic may invest around 10,000 crore for a 2% stake in Jio Platforms Ltd, a wholly-owned subsidiary of Reliance Industries Ltd (RIL). General Atlantic and RIL have been in discussion for a while now, according to a Mint report.

    InterGlobe Aviation: India's largest domestic airline IndiGo, owned by InterGlobe Aviation, is in the process of putting together a bid for bankrupt airline Virgin Australia, Australian publication Financial Review said in a report on Monday. IndiGo - a low cost airline with 48 per cent market share in India - is in the Virgin Australia data room and seeking to put together an indicative proposal for administrator Deloitte, the report said.

    Reliance Infrastructure: At least eight investors, including Caisse de dépôt et placement du Québec (CDPQ), Actis LLP and Brookfield Asset Management, have showed initial interest in buying Reliance Infrastructure Ltd’s Delhi electricity distribution businesses, according to a Mint report.

    Piramal Enterprises: The company on Monday reported a net loss of 1,702.59 crore in the quarter ended March 31, mainly on the back of additional provisioning in lieu of the challenges posed by the covid-19 pandemic. Piramal Enterprises had reported a net profit of 454.63 crore in the corresponding quarter of last fiscal.

    IDBI Bank: Japanese insurer Nippon Life has begun discussions with the Hinduja family-backed IndusInd Bank to explore a strategic investment in the private lender, which is battling bad loans and a potential ratings downgrade, according to a report in The Economic Times.

    Maruti Suzuki: The company will resume production at its Manesar plant from Tuesday with 50% workforce.

    Gogrej Agrovet: The company reported a 42.65% decline in consolidated net profit at 69.20 crore during the fourth quarter ended March 31 due to higher expenses. Godrej Agrovet's net profit stood at 120.68 crore in the year-ago period.

    Ind-Swift Labs: Company received Establishment Inspection Report from USFDA for the general manufacturing practices at its API facility in Derabassi, Punjab. The APis manufactured from the Derabassi manufacturing facility are supplied across the World to over 70 countries covering more than 280 customers including all the major drug manufacturers across the Globe.

    IRCTC: Indian railways on Monday said it will kick start 30 special trains to and from New Delhi from May 12, while other regular passenger services including all express, passenger and suburban trains services will continue to be suspended. These special trains will have only air conditioned (AC) coaches, including AC first, second and third class, with fare structure similar to a Rajdhani trains, excluding catering fee.

    Oil Marketing Companies: Standalone credit profiles of India's oil marketing companies are at greater risk of downward revision due to the coronavirus-induced drop in demand and refining margins, Fitch Ratings said. However, the Issuer Default Ratings of Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, which are driven by sovereign linkages through the state's direct or indirect ownership, will remain stable.

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    Published: 12 May 2020, 08:00 AM IST
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