Stocks to Watch: RIL, Infosys, pharma stocks, BPCL, Motherson Sumi2 min read . Updated: 17 Sep 2020, 07:26 AM IST
- The Federal Reserve left interest rates near zero and signalled it would hold them there through at least 2023 to help the US economy recover from the coronavirus pandemic
NEW DELHI: Here is the list of top 10 stocks that could be in focus Thursday:
Reliance Industries: The oil-to-telecom conglomerate hit ₹16 trillion in market capitalisation on Wednesday, a first, as investors continued to buy the stock anticipating higher valuation amid stake sale in Reliance Retail. Year to date, the stock has risen 56.7%.
Infosys: Has begun to get things moving on salary hikes and promotions, CEO Salil Parekh told ET Now in an interview. Plans are also afoot to start massive recruitments in many parts of the world including in India soon, he said. Infosys is adding another 12,000 employees to its US headcount of 13,000 to handle an increasing number of projects and these hirings will be complete by 2022.
Pharma stocks: Symptoms that prompted the University of Oxford and partner AstraZeneca Plc to pause trials evaluating their experimental coronavirus vaccine probably weren’t related to the shot itself, according to documents sent to participants.
Bharat Petroleum: State-run Bharat Petroleum Corporation Ltd may acquire its partner Oman Oil Company Ltd's stake in Bharat Oman Refineries Ltd, a joint venture of the companies. BPCL had in June increased its stake in the refinery to 63% from 50%, after converting warrants into shares.
Hindustan Petroleum: State-run Hindustan Petroleum Corporation Ltd will invest over ₹60,000 crore to develop infrastructure during the next five years, Chairman Mukesh K Surana said at the company's 68th annual general meeting on Wednesday. This fiscal, HPCL will invest ₹12,000 crore in capital expenditure.
Vedanta Ltd: The Supreme Court on Wednesday upheld the foreign arbitration award in favour of Vedanta and Videocon for the development of the Ravva oil and gas fields off the coast of Andhra Pradesh between 2000 and 2007. It dismissed the Centre's appeal against the foreign arbitration award that allowed Vedanta and Videocon to recover $499 million from the government.
Dr Reddy's: Russian Direct Investment Fund (RDIF) on Wednesday said it has tied up with Dr. Reddy’s Laboratories Ltd to conduct clinical trials of Sputnik V vaccine in India. Once approved by Indian regulators, Russia will supply 100 million doses, with deliveries beginning potentially as early as December.
Aviation stocks: Cash-strapped Indian carriers have asked the government to set up an interest-free line of credit of at least $1.5 billion for the sector, civil aviation minister Hardeep Singh Puri said on Wednesday. Airlines have also sought a six-month deferment of their loan repayments by banks and financial institutions, while not treating them as bad loans
Motherson Sumi Systems: Expects to garner as much as a quarter of its revenue from new segments such as aerospace, defence, healthcare and information technology over the next five years as part of a strategy to reduce its dependence on automotive component business facing the brunt of turmoil caused by the covid-19 pandemic.
Sterling and Wilson: Shapoorji Pallonji group on Wednesday said it has missed a deadline to repay dues to group company Sterling and Wilson Solar Ltd, raising doubts about the group’s ability to service its debt amid a faltering fundraising plan.