Stocks to Watch: RIL, GAIL India, Coforge, Shree Renuka, P&G Health
- BHEL, Delta Corp, Escorts, Gujarat Narmada Valley Fertilizers & Chemicals, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, Metropolis Healthcare, Punjab National Bank, and Sun TV are the eleven stocks that are a part of the F&O ban list for Thursday.
Here are the top 10 stocks that could be in focus in today's trade:
Reliance Industries: Sovereign wealth fund Qatar Investment Authority (QIA) has agreed to invest ₹8,278 crore ($1 billion) into the retail arm of Reliance Industries Ltd (RIL), marking a fresh round of investments into Reliance Retail Ventures Ltd (RRVL) after the country’s largest retailer raised ₹47,265 crore in 2021. QIA’s investment values RRVL at ₹8.28 trillion or $100 billion, twice its ₹4.21 trillion valuation in 2021. QIA’s investment will translate into a 0.99% stake in RRVL on a fully diluted basis, RRVL said on Wednesday.
GAIL India: State-owned Gail India plans a capital expenditure of ₹30,000 crore, mainly in pipelines, petrochemical projects and city gas distribution, over the next three years. The company's total capital expenditure for FY23 was ₹10,000 crore. We are targeting to incur a capex ₹30,000 crore in the next 3 years, mainly on pipelines, ongoing petrochemical projects, CGD projects, operational capex, equity contribution in group companies etc.," said Gail CMD Sandeep Kumar Gupta while addressing the shareholders at the AGM.
Coforge: Promoter Hulst BV intends to divest its 26.63% ownership in Coforge through a block deal, as reported by sources to CNBC Awaaz. The established floor price for this transaction stands at ₹4,550 per share, representing a 7.4% reduction compared to the closing price of ₹4,913 on the previous Wednesday. Hulst BV, a company registered in the Netherlands, is under the ownership and influence of funds associated with BPEA. Reportedly, Hulst BV plans to offer 1.62 crore shares, resulting in an estimated transaction value of around ₹7,400 crore.
Shree Renuka/EID Parry/Balrampur Chini: India is expected to ban mills from exporting sugar in the next season beginning October, halting shipments for the first time in seven years, as a lack of rain has cut cane yields, three government sources said. India's absence from the world market would be likely to increase benchmark prices in New York and London that are already trading around multi-year highs, triggering fears of further inflation on global food markets.
Procter & Gamble Health: In Q4FY23, P&G Health disclosed a net profit of ₹29.8 crore, marking a 28% decline in comparison to the corresponding period of the previous year. This decrease was attributed to elevated material costs and a singular employee cost. Despite this, the company observed a 1.8% year-on-year growth in revenue from operations, reaching ₹301.2 crore in the quarter. Additionally, the company declared a final dividend of ₹50 per share for the fiscal year concluding in June 2023.
Bandhan Bank: Bandhan Bank on Wednesday announced it will enter the co-lending business, for which it will tie up with a couple of NBFCs. Announcing this at the bank's foundation day programme, its MD and CEO Chandra Shekhar Ghosh said the co-lending business will cover all verticals in which loans are given. "We have selected a couple of NBFCs, and will soon tie up with them," he said. Ghosh said the bank, which started its journey eight years ago, has 6,100 banking outlets across 35 states and Union Territories at present.
Muthoot Finance: Muthoot Fincorp Ltd (MFL), the flagship company of Muthoot Pappachan Group, on Wednesday said its new digital financial platform Muthoot Fincorp One will introduce insurance, personal loans, two-wheeler, and housing loans in six months. Muthoot Fincorp One has reported over 20,000 daily transactions, and over 200,000 app downloads. In six months, it plans to introduce these new products to reach 80,000 daily transactions, and a million app downloads.
TVS Motors: TVS Motor Co., maker of the iQube electric scooter is expanding its play in the e-two-wheeler market with the launch of its first born-electric two-wheeler, a crossover between a motorcycle and a scooter which is aimed at young customers in the premium-end of the Indian and international electric two-wheeler markets. The launch of TVS X will be followed by the introduction of the latest generation of iQube EV, as well as more products in electric three-wheeler cargo and even electric bicycle space, Sudarshan Venu, managing director, TVS Motor, said.
Tata Communications: Tata Communications announced the opening of its cloud-based, worldwide 5G Roaming Laboratory (Lab). This will allow Mobile Network Operators (MNOs) to test 5G standalone network use cases prior to rolling out the service to their customers, the company said in an exchange filing. In order to enable mobile network operators to reinvent mobility experiences that benefit their consumers and enterprise customers, Tata Communications is utilising the potential of 5G in this way.
Oriana Power: Oriana Power Ltd has won a contract worth ₹138 crore from Bharat Coking Coal Limited (BCCL) to set up a 20MW AC ground-mounted solar photovoltaic power plant at Dugdha washery area, Dhanbad, Jharkhand. The EPC phase of this project is slated for completion within 12 months. This comprehensive contract encompasses a spectrum of activities ranging from design and procurement of solar equipment to construction, meticulous testing, seamless commissioning, integration with the transmission network, and a steadfast five-year operation and maintenance commitment.
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