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Stocks to Watch: RIL, HDFC Bank, Jet Airways, Future group, Macrotech Developers

Indian shares gained for the fourth straight day on Wednesday, undeterred by the surge in covid cases threatening to crimp economic activity. (Photo: Reuters)Premium
Indian shares gained for the fourth straight day on Wednesday, undeterred by the surge in covid cases threatening to crimp economic activity. (Photo: Reuters)

  • Foreign institutional investors net bought shares worth 336.83 crore, while domestic institutional investors net purchased shares worth 1,271.95 crore in the Indian equity market on 5 January

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NEW DELHI: Here is a list of 10 stocks that could be in focus on Thursday: 

Reliance Industries: Reliance Industries Ltd on Wednesday launched its mega bond sale as it sought to raise $3-5 billion from offshore investors. This will be the largest-ever bond sale by an Indian company tapping overseas money and the year's first fundraising from the country. The proceeds will be used primarily to refinance existing debt with a likely funding cost benefit.

HDFC Bank: Private sector lender HDFC Bank has sold 2,188 crore worth of distressed retail loans to asset reconstruction companies (ARCs) in the last three quarters with the aim to clean its book. The retail pool consisted mainly of personal and vehicle loans.

Future Group: The Delhi high court on Wednesday stayed arbitration proceedings initiated by Amazon.com Inc. in Singapore against estranged partner Future Group for violating contracts, offering a breather to the debt-laden Indian retailer.

Jet Airways: The acting chief executive and ‘accountable manager’ of Jet Airways (India) Ltd, Sudhir Gaur, has resigned even before the airline could take to the skies under its new promoters. The development comes weeks after the Jala-Kalrock Capital consortium said they hoped to restart operations in 2022.

Macrotech Developers: The realty major, popularly known as Lodha Group, expects to repay its offshore bonds worth $225 million or 1,678 crore completely in the next four months ahead of scheduled maturity in March 2023. It also expects to significantly repatriate its investment in the UK back to India in the financial year 2022-23.

NHPC: A promoters agreement has been signed between NHPC and Green Energy Development Corporation of Odisha (GEDCOL) for the formation of a joint venture company for development of 500 MW floating solar power projects in various water reservoirs in Odisha.

Mahanagar Gas: Life Insurance Corporation of India acquired a 2% stake in the company via open market transactions, increasing shareholding to 7.01% from 5% earlier.

Airline stocks: Indian airlines are staring at a double whammy. While analysts expect carriers to report losses in the December quarter due to high fuel costs, air passenger traffic, which had been rising every month since last June, appears to be plummeting due to the third wave of covid-19 infections.

FMCG stocks: Prices of fast-moving consumer goods (FMCG), such as biscuits, milk-based edibles and personal care items, could continue to rise this quarter as companies try to counter inflationary headwinds.

Videocon Industries: A bankruptcy appeals court has scrapped billionaire Anil Agarwal-led Twin Star Technologies' winning bid to take over Videocon Industries Ltd on a plea by some creditors that the money offered imposed a steep 62,000 crore haircut upon banks. The National Company Law Appellate Tribunal (NCLAT) asked creditors to initiate fresh sale of Videocon for recovery of their unpaid 64,637.6 crore.

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