Stocks to Watch: RIL, Vedanta, TCS, ONGC, banks1 min read . Updated: 05 Oct 2020, 08:05 AM IST
- PIF and ADIA are likely to invest about $500 million each to acquire 51% in the InvIT formed by RIL
Here’s a list of top ten stocks that may be in news on Monday:
Vedanta: Billionaire Anil Agarwal’s Indian commodities conglomerate's profit fell 23.5% in the three months to June as lockdowns hit production and demand. Group net income slumped to ₹1,033 crore in the period from ₹1,351 crore a year earlier.
Reliance Industries: Saudi Arabia’s Public Investment Fund and Abu Dhabi Investment Authority (ADIA) are likely to invest about $500 million each to acquire a total 51% in the infrastructure investment trust (InvIT) structure formed by RIL to monetise its fibre optic network assets, The Economic Times reported.
Banks and financial services: The Centre will waive 'interest on interest' charges on loans up to ₹2 crore for six months through August. In an affidavit to the Supreme Court, the government said due to unprecedented conditions the only solution for the Centre is to bear the burden of waiving of interest.
ONGC: US energy giant ExxonMobil and ONGC are set to jointly bid for the upcoming sixth and seventh auction rounds under the Open Acreage Licensing Policy, the Business Standard reported.
Tata Consultancy Services: The company will consider a proposal for buyback of shares on 7 October, when the company board meets for the second quarter results.
HCL Technologies: The company has tied up with IBM to help clients accelerate their digital transformation by migrating enterprise mission-critical workloads to the IBM public cloud.
Uttam Galva Steels: ArcelorMittal is likely to bid for the company, which was admitted to the National Company Law Tribunal (NCLT) recently, and whose co-promoter it once was, the Business Standard reported.
Religare Enterprises: The company's NBFC arm Religare Finvest is likely to complete its debt restructuring by December and start new business from next fiscal. RFL has been barred from undertaking fresh business as it is under corrective action plan of the RBI since January 2018.
Angel Broking: The brokerage firm's ₹ 600 crore initial public offering (IPO) will list on the bourses today. The IPO witnessed a 3.95 times subscription on the last day of bidding,
Federal Bank: The private sector lender has reported a 12% increase in its total deposits in the second quarter of the fiscal and a 6% jump in gross advances.
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