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At close on Tuesday, Sensex was up 445.87 points or 1.01% at 44,523.02, and the Nifty up 128.70 points or 1% at 13,055.20.. Photo: iStock
At close on Tuesday, Sensex was up 445.87 points or 1.01% at 44,523.02, and the Nifty up 128.70 points or 1% at 13,055.20.. Photo: iStock

Stocks to Watch: SBI, DHFL, bank, auto, telecom shares

  • Adani Enterprises, Federal Bank, NALCO, SAIL and Tata Motors are under F&O ban for 25 Nov. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of market-wide position limit

NEW DELHI: Here are the top 10 stocks that could be in focus on Wednesday:

Bank stocks: The toxic assets on banks’ balance sheets are expected to rise to 10-11% of total advances as the regulator phases out the asset classification relaxations offered to lenders to ride out the covid-19 storm, S&P Global Ratings has said.

State Bank of India: Has said it raised 2,500 crore from bonds to fund business growth. The committee of directors for capital raising at its meeting held on Tuesday approved allocation of 25,000 Basel-lll compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT 1 capital of the bank to subscribers.

Auto companies: The Centre is likely to have tough eligibility criteria for vehicle makers to qualify for subsidies under the production-linked incentive (PLI) scheme that was introduced to boost local manufacturing. Qualifying parameters for Indian automobile makers may include minimum annual exports of 1,000 crore.

Telecom stocks: The sector regulator has imposed penalties amounting to 35 crore on eight operators, including Bharti Airtel, Vodafone Idea, and Reliance Jio, for allowing cybercriminals to issue fake SMSes to dupe digital payment users.

DHFL: Lenders to Dewan Housing Finance Corp. Ltd (DHFL) are likely to seek fresh bids for the bankrupt mortgage lender, and its committee of creditors (CoC) is expected to vote on Wednesday to decide on this matter, five people aware of the development said.

Adani Enterprises: The Kerala government has moved the Supreme Court against the Centre's decision to lease Thiruvananthapuram international airport to Adani Enterprises.

JSW Steel: Has entered into a legally binding share purchase agreement to acquire the remaining 26.45% stake of JSW Vallabh Tinplate for a total sum of 35 crore from the existing third party shareholders as it will add strategic value, the company said.

Tata Chemicals: The Tata Group company on Tuesday announced that it has appointed N. Chandrasekaran as an additional director and chairman of the board of directors of the company effective 24 November. Currently, he is the chairman designate of Tata Sons, the holding company of Tata Group.

Airline stocks: Airlines globally will lose a record more than $118.5 billion this calendar year because of the coronavirus pandemic and a muted travel appetite, International Air Transport Association (IATA) said on Tuesday. Losses are however expected to narrow to $38.7 billion next year, the industry body said.

Muthoot Finance: The Reserve Bank of India has rejected a proposal by Muthoot Finance Ltd to buy IDBI Asset Management Ltd and IDBI MF Trustee Co. Ltd from IDBI Bank Ltd and IDBI Capital Markets and Securities Ltd, the non-bank financier said on Tuesday.

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