Stocks to Watch: Reliance Industries, Tata Motors, Vodafone Idea, auto stocks

Reliance Industries: Carlyle Group is looking to invest $1.5-2 billion to buy a stake in Reliance Retail Ventures Ltd (RRVL), said two people aware of the development, joining a string of marquee investors that are keen on buying stakes in units of Mukesh Ambani-led Reliance Industries Ltd.

Tata Motors: Has initiated the process of selling stakes in units Tata Technologies Ltd and Tata Hitachi Construction Machinery Co. Pvt. Ltd as part of its ambitious plan to turn debt-free in three years, Mint reported citing people aware of the plans. "The intent is to monetise non-core assets and the exercise has begun with these two companies," said one of the three people.

Vodafone Idea: The telco, which is under scrutiny of the Telecom Regulatory Authority of India (Trai) over its RedX premium plan, last week submitted its responses to the regulator. In an interview to Mint, Trai chairman RS Sharma said the response is under investigation and the results will be out in a week.

Telecom stocks: The country’s top three telecom companies (telcos) will have to spend a minimum of around ₹44,000 crore merely to replace the spectrum they hold, directly or through sharing, and which expires next year, Business Standard reported.

Auto stocks: Auto parts makers expect banks to restructure their dues incurred during the moratorium period using less stringent conditions to assist companies whose businesses were hit severely by the pandemic.

Shapoorji Pallonji Group: Tata Sons Ltd on 5 September moved an ‘urgent’ application before the Supreme Court to restrain Shapoorji Pallonji Group promoters from raising capital against security of their shareholding in Tata Sons. The plea was moved by the Tata group one day after the SP Group signed definitive documents with a marquee global investor to raise ₹3,750 crore.

Companies: Roughly half of the 100-odd chief executive officers (CEOs) and founders who responded to the Mint-Bain India CEO Survey on the state of the country’s business environment predicted that their company’s net profit for FY21 may be on a par with or even slightly better than that of last year. However, expectations of a swift recovery in revenue are more muted.

GST: Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Meghalaya, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and Odish have opted to borrow funds from an RBI window that would cover GST revenue shortfall that can be attributed to the implementation of GST, said the person who spoke on condition of anonymity.

Manufacturing: India has reached out to Japanese companies, not yet present in the country, such as Nintendo, Hitachi Metals, Taisho Pharma, Ono Pharma and Mizuno to set up operations here, and urged conglomerates already here to bring verticals currently missing, the Economic Times reported.

Markets: Securities and Exchange Board of India clarified, late on Sunday, that mutual funds are free to choose the route for complying with the revised norms on multi-cap funds. On Friday, the capital markets regulator had directed multi-cap funds to invest at least 25% of their corpuses each in large-cap stocks, mid-caps and small-cap stocks, resulting in protests by the mutual fund industry.