Stocks to Watch: RIL, PNB, PVR, ONGC, Hindalco, Vedanta, CAMS, Chemcon Speciality
- Silver Lake will invest an additional ₹1,875 crore into Reliance Retail Ventures Limited, a subsidiary of Reliance Industries Limited
Here’s a list of top ten stocks that may be in news on Thursday:
RIL: Silver Lake will invest an additional ₹1,875 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd (RIL). The aggregate investment by Silver Lake and its co-investors in RRVL now adds up to ₹9,375 crore, which will translate into a 2.13% equity stake in RRVL on a fully diluted basis.
PNB: State-owned Punjab National Bank has declared its exposure of ₹1,203.26 crore to Sintex Industries Ltd (SIL) as fraud. Once an account is declared as fraud-hit, banks need to set aside 100% of outstanding loans as provisions either in one go or over four quarters, according to the banking regulator's rules. In this case, PNB said it has made provisions of ₹215.21 crore.
Chemcon Speciality Chemicals: The company will make its stock market debut today. Mirroring massive investor demand, the initial public offer of Chemcon Speciality Chemicals was subscribed a whopping 149 times on the last day of bidding on Wednesday.
CAMS: Computer Age Management Services (CAMS), the largest registrar and transfer agent of mutual funds in India, will list its equity shares on the stock exchanges today. CAMS’ initial public offer was subscribed 46.93 times on the final day of bidding.
PVR, Inox Leisure: The Union Home Ministry has issued new guidelines for permitting more activities in areas outside the containment zones that include opening up cinemas, theatres and multiplexes with up to 50% of their seating capacity from October 15.
Dhanlaxmi Bank: Shareholders of Dhanlaxmi Bank on Wednesday ousted Managing Director and Chief Executive Officer Sunil Gurbaxani, little over seven months after he assumed charge of the lender.
Gas distribution companies: Shares of city gas distribution companies like ONGC, Oil India may be in focus, as the government has slashed the natural gas prices by 25% to USD 1.79 from USD 2.39– lowest rate on record. This is the third straight reduction in rate in one year. The price was cut by a steep 26% to USD 2.39 in April.
Mining companies: Adani Enterprises Ltd, Hindalco Industries Ltd. JMS Mining Pvt. Ltd., Andhra Pradesh Mineral Development Corp. Ltd, EMIL Mines and Minerals Resources Ltd, Vedanta Ltd and Jindal Power Ltd are among 42 companies that have bid for 23 coal mines put on auction for commercial mining, according to a government official. While a total of 38 coal mines were put for auction, 76 bids were received for 23 coal mines.
Automobile companies: Automobile makers will release their monthly sales data today.
Telecom companies: The Telecom Regulatory Authority of India has released amended rules for international mobile roaming, mandating telecom operators to ensure such services are deactivated by default and start only when consumers ask for it. Once activated, the services can be discontinued on consumers’ request, the telecom regulator said.
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