Stocks to Watch: RIL, JSW Steel, ACC, PNB, Airtel, Indian Oil

  • Chambal Fertilisers & Chemicals, Delta Corp, Gujarat Narmada Valley Fertilizers & Chemicals, Granules India, Hindustan Copper, Indiabulls Housing Finance, India Cements, Punjab National Bank, SAIL, and Zee Entertainment Enterprises are part of the F&O ban list for Friday

Vijay Kishore
First Published18 Aug 2023, 07:27 AM IST
Stocks to watch for Friday
Stocks to watch for Friday

Here are the top 10 stocks that could be in focus in today's trade:

Reliance Industries: Jio Financial Services is being removed from several FTSE Indices for failing to commence trading after 20 business days. A notice shared by FTSE Russell said that the company had also not announced a firm trading date since its inclusion on July 20. The omission will come into effect from August 22. The announcement from FTSE also comes at a time when Reliance Industries Ltd is working to list shares of its financial services unit. Earlier reports indicated that a listing date could be shared in the wake of the company's upcoming annual general meeting.

JSW Steel: JSW Steel Ltd is considering picking up a 75% interest in Teck Resources' steelmaking coal business Elk Valley Resources, according to a Bloomberg report. Bloomberg had reported in July that the Mumbai-based company was interested in up to 20% of Teck’s coal business. The potential deal could value the business at $8 billion, said Bloomberg, rivalling an earlier bid by Swiss commodities giant Glencore. According to Bloomberg, Teck said it had received a number of indications of interest in its coal operations, without naming the parties.

ACC/Nykaa/HDFC AMC/PNB/Trent: On August 17th, the National Stock Exchange of India (NSE) revealed adjustments to its primary indices. This will result in the removal of ACC, Nykaa, and HDFC Asset Management Company (HDFC AMC) from the Nifty Next 50 index, with the alteration taking effect on September 29th. In addition to these three companies, Indus Towers and Page Industries will also be ousted from the Nifty Next 50. In their place, Punjab National Bank, Shriram Finance, Trent, TVS Motor, and Zydus Lifesciences will be included.

Bharti Airtel/RIL/Vi: Union minister Ashwini Vaishnaw today said that the government has made police verification of SIM card dealers mandatory and discontinued the provision of bulk connections to curb fraudulent activities. "Now we have made police verification of SIM dealers mandatory to curb fraud. The penalty of 10 lakh will be imposed on dealers found violating norms," Vaishnaw said. He said that there are 10 lakh SIM dealers and they will be given sufficient time for police verification.

IOCL: The Haryana government has accorded approval to acquire 349 acres of panchayat land of three adjoining villages Asan Kalan, Khandra and Bal Jattan for the expansion of Indian Oil Corporation's Panipat Refinery. The decision was taken in a meeting chaired by Chief Minister Manohar Lal Khattar here on Thursday, said an official statement. According to the statement, the IOCL will acquire 140 acres of Asan Kalan village, 57 acres of Khandra and 152 acres of Bal Jattan village. In addition to the land cost, the refinery will separately pay 10 lakh per acre for development works in the villages.

South Indian Bank: The Reserve Bank of India on Thursday approved the appointment of PR Seshadri as Managing Director & CEO of the South Indian Bank for a period of three years with effect from October 1, 2023. According to a statement by the South Indian Bank, PR Seshadri is an accomplished banker with experiences spanning multiple businesses, functional lines and geographies. He has experience in enterprise-level management and in the management of all key commercial banking business lines.

LTIMindtree: Aflac Incorporated, a supplemental insurance provider based in the US, has chosen LTIMindtree as its digital transformation collaborator for the modernization of applications and migration to the cloud, according to reports. This partnership aims to revamp Aflac's existing applications using a cloud-first strategy, in cooperation with Amazon Web Services, the report added. The focus is on enhancing performance efficiency, cost-effectiveness, and operational excellence, all while prioritizing heightened security measures.

Emami: Emami Group aims to complete the sale of AMRI Hospitals this month to Manipal Group for about 2,400 crore, said a report by Economic Times on Thursday. The report citing industry executives said that about 1,650 crore of the proceeds of the deal will be utilised for servicing the existing debt of AMRI Hospitals. According to a report by Moneycontrol, in February this year, Manipal Group has hiked its offer of 1,800 crore to buy out Kolkata- based Emami Group’s hospital business AMRI Hospitals.

Dodla Dairy/Hatsun Agro/Umang Dairies: Strong demand for value-added products and stable milk consumption will lead to a 14-16% revenue growth for India’s organised dairy industry this fiscal. With raw milk supply improving, there will be fewer price hikes and profitability will recover 20-50 basis points, said rating agency Crisil. Last fiscal, disruptions in raw milk supply had led to multiple hikes in retail milk prices, pushing up the topline by 19% but impacting profitability.

SJVN: State-owned SJVN Ltd has inked two pacts with Punjab State Power Corporation Ltd (PSPCL) to supply 1,200 MW of solar power from its projects, Punjab Chief Minister Bhagwant Mann said here on Thursday. Satluj Jal Vidyut Nigam signed two power purchase agreements (PPAs) for 1,200 MW of solar power recently. PSPCL had floated tenders for procurement of power from solar projects located in Punjab and other parts of the country.

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News in Numbers

Numbers that help you understand news better
$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:18 Aug 2023, 07:27 AM IST
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