Here is a list of top 10 stocks that may be in focus on Tuesday:
RIL: The index heavyweight on Monday announced the consolidation of its media and distribution businesses spread across multiple entities into Network18. Under the Scheme of Arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network18 Media & Investments. The merger will be effective 1 February, 2020.
HCL Technologies: New Zealand’s dairy co-operative Fonterra has signed a contract with the IT services firm to modernise and manage the technology infrastructure. According to a regulatory filing, the multi-year partnership will consolidate Fonterra’s technology suppliers, bring together its IT infrastructure services under one umbrella and enhance Fonterra’s employee experience.
IndiGo: India’s largest carrier IndiGo, owned and operated by InterGlobe Aviation Ltd, has scrapped plans to launch long-haul international flights on dual-aisle Airbus 330 aircraft as it is likely to start flights to Europe and London on a single-aisle Airbus 321XLR (extra-long range) aircraft set to join its fleet by 2023-24. According to an Economic Times report, this would delay low-fare flights to London, Paris and other cities in Europe for Indian fliers by another three years.
Vodafone Idea: The telecom operator, which received the biggest blow from Supreme Court’s (SC) verdict on adjusted gross revenue (AGR), on Monday paid ₹2,500 crore as part payment of dues to the department of telecommunications (DoT). The company will pay ₹1,000 crore more by Friday, according to a regulatory filing. The original deadline to pay dues worth ₹50,000 crore was 23 January.
JSW Energy: The company has signed a share-purchase agreement with GMR Energy Ltd to acquire 100% stake in the latter’s subsidiary GMR Kamalanga Energy Ltd, which owns and operates a 1,050 MW thermal power plant in Odisha. The transaction is valued at ₹5,321 crore and is expected to be completed in three months, JSW Energy informed the stock exchanges on Monday.
Grasim Industries: The company on Monday said its board has approved raising ₹500 crore via non-convertible debentures (NCDs) of ₹10 lakh each, on a private placement basis.
Berger Paints: The paint company will today announce its earnings for the quarter ended December. The board of directors will also consider and declare an interim dividend for the fiscal 2020. Separately, Lux Industries Ltd has appointed advisory firm EY as internal auditor of the company with effect from 1 January 2020. The board had approved the appointment of EY on 13 February 2020.
Banks: Reserve Bank of India Governor Shaktikanta Das on Monday said the central bank is "very closely monitoring" the fallout of the crisis on lenders by way of a default, if any, by telecom players. This comes after SC mandated telecom companies to clear dues and penalties in the AGR case by 17 March. In an interview with PTI, Das said so far no red flags have been raised.
KPI Global: The company on Monday said it has bagged an order to execute solar power project with a capacity of 900 KW from Surat-based JPB Fibers. The order has been placed under the captive power producer (CPP) category.
Orissa Minerals: The company on Monday informed the stock exchanges that its Belkundi Iron and Manganese Mine has got a go ahead to enhance iron ore and manganese ore production in Odisha. The company will enhance its iron ore production to 1.8 MTPA and that of manganese ore to 0.3 MTPA in Belkundi, Nalda, Karakolha, Karkhendra, Uliburu, Tehsil Barbil villages of Koenjhar district.