New Delhi: Here is a list of top 10 stocks that may be in focus on Friday.
RIL: Sony Corporation is in talks with Reliance Industries Ltd (RIL)-promoted Network18 Media and Investments Ltd. According to a Bloomberg report, the Japanese media major plans to tap the booming demand for content in the country. Sony is currently conducting due diligence on Network18 ahead of a likely offer. Sony is also considering several deal structures, including a bid for the company or a merger of its own business in India with Network18’s entertainment channels.
Infosys: Companies need to be forthcoming on allaying concerns after whistleblower allegations and not resort to “rhetoric" like invoking god to defend, former director TV Mohandas Pai said on Thursday. This comes at a time when the IT major is carrying investigation into alleged whistleblower complaints against the top management for accounting malpractices, and chairman Nandan Nilekani’s assertions that even god can’t change the numbers at Infosys Ltd.
Zee Entertainment: Promoter Subhash Chandra sold 16.5% stake in the media conglomerate to financial investors to raise funds and repay dues of lenders. The stake was sold in a series of negotiated block deals on Thursday to Singapore’s GIF, US investment management company Blackrock, HSBC Global, Capital Research, Norges Bank, Marshall Wace, Wellington Management, SBI Mutual Fund and ICICI Prudential, according to data on the exchanges. Chandra’s shareholding is down to 5% after the stake sale.
Maruti Suzuki: The auto major will introduce a BS-6 petrol version of its two models—Brezza and S-Cross—before 1 April 2020. According to a PTI report, the new Bharat Stage (BS) 6 fuel emission norms will kick in from 1 April, 2020. Auto manufacturers will have to wait for another two-three months to say if the country’s automobile industry has been able to come out of slowdown.
Tech Mahindra: The IT services firm on Thursday said it has signed an agreement with Business Finland for research and development in 5G and 6G. Tech Mahindra Ltd will develop, pilot and implement state-of-the-art digital products and services to foster growth, productivity and innovations in the area of 5G and 6G, a statement said.
Tata Motors: Jaguar Land Rover’s chief executive Ralf Speth said he is open to more alliances to lower the costs of developing technology, but is not looking at a full-blown corporate merger. According to a Reuters report, Speth said the luxury car maker and its parent Tata Motors Ltd are not seeking a merger opportunity with Jaguar Land Rover, the sales and revenue of which are now improving in its largest global market China.
Telcos: Telecom Regulatory Authority of India (TRAI) on Thursday asked telecom companies to submit, on a monthly basis, lists of permanently disconnected mobile numbers on the authority’s website to enable companies that use subscriber mobile numbers for identification and authentication to keep systems updated. Investors may watch Bharti Airtel Ltd and Vodafone Idea Ltd on the news.
BPCL: The company was the biggest laggard among Nifty 50 companies in Thursday’s trade despite the government approving the privatisation of state-owned fuel retailer. Investors may have negatively taken the government’s decision to hive off one of the company’s refineries Numaligarh Refinery Ltd in Assam that will later become a part of another public-sector company. Carving out a refinery from a total of four would mean taking a hit on the valuation.
Tata Power: The company on Thursday raised ₹1,500 crore by issuing unsecured, non-cumulative, redeemable, taxable, listed, rated non-convertible debentures (NCDs) on a private placement basis. It has issued 15,000 NCDs worth ₹1,500 crore, the company said in a BSE filing. The NCDs would be listed on WDM or wholesale debt market segment of the NSE, the company added.
Network18: Promoter RIL is in talks with Japan’s media conglomerate Sony Corporation to sell stake in entertainment channels. A Bloomberg report said Sony is exploring several deal structures, including a bid for the company or a merger of its own business in India with Network18’s entertainment channels, before making an offer. This due to growing demand for content in the Indian market.