Stocks to Watch: RIL, Future Enterprises, PVR, Vedanta, HCL Tech2 min read . Updated: 31 Aug 2020, 07:44 AM IST
- Reliance Retail Ventures will acquire Future Group’s retail, wholesale, logistics and warehousing businesses for ₹24,713 crore
Here’s a list of top ten stocks that may be in news on Monday:
Future Enterprises: Reliance Retail Ventures Ltd will acquire Future Group’s retail, wholesale, logistics and warehousing businesses for ₹24,713 crore. The much-awaited deal between RIL and Future Group got its go-ahead on Saturday.
Reliance Industries: The all-cash deal between RIL and Future Group deal has been carried out on a slump sale basis. Reliance Retail has also proposed to invest ₹1,200 crore in the preferential issue of equity shares of Future Enterprises to acquire 6.09% of post-merger equity holding, and ₹400 crore in a preferential issue of equity warrants.
Vedanta: The company has pledged its entire shareholding in subsidiary Hindustan Zinc Ltd (HZL) to help fund its proposal to delist from the stock exchanges. The transaction includes about 2.1 billion shares by non-disposal undertaking and 6.26 billion shares in pledge.
Adani Group companies: Adani Australia has been ordered to pay $106.8 million to four coal companies over a contractual dispute regarding access and terminal handling charges for the Indian business group’s Abbot Point coal terminal in North Queensland, local media reported.
GAIL India: The state-owned company is eyeing expansion in petrochemicals, specialty chemicals and renewables to supplement growth in its core business of natural gas marketing and transportation, its chairman Manoj Jain has said.
HCL Technologies: The company's US subsidiary is facing a patent infringement claim related to one of its software products, according to The Economic Times. HCL America is due to respond to the lawsuit filed by a Texas-based company, Coretek Licensing, by 28 September.
PVR: Though the Centre has allowed open air theatres to resume operations from 21 September as part of the Unlock 4.0 guidelines, cinema halls, entertainment parks, and similar places will continue to remain closed.
Inox Leisure: The company has reportedly decided to invest in open air theatres that are likely to come up by end of 2020 or early 2021, but the immediate pain continues as traditional cinemas remain shut for now as per the government's Unlock 4.0 guidelines.
Indiabulls Ventures: The company will raise ₹588 crore (or $80 million) through a preferential share sale to a clutch of investors led by American fintech investor Ribbit Capital.
Jet Airways: Yes Bank has initiated the process to categorise Naresh Goyal, the founder of the airline, and his wife Anita as 'wilful defaulters'. Goyal has likely told Yes it is not involved in the borrowings, sources told The Economic Times.