Stocks to watch: Oil India, VST Tillers, Bharti Airtel, Vodafone Idea, RIL, ICICI Bank, Polycab
Aban Offshore, Auro Labs, Jaiprakash Associates, Oil India and VST Tillers are slated to announce their financial results on Monday.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 190 points at the opening bell. Overseas, Asian stocks dropped on Monday as investors mulled the implications of a surprise hawkish shift last week by the US Federal Reserve. Here is the list of top stocks that could be in focus on June 21.
Results today: Aban Offshore, Auro Labs, Jaiprakash Associates, Oil India and VST Tillers are slated to announce their financial results on Monday.
Telecom players: India’s largest telecom operator Reliance Jio gained over 79 lakh mobile users in March, comfortably surpassing the combined net adds by rivals Bharti Airtel and Vodafone Idea during the month, according to data released by TRAI on Friday.
ICICI Bank: S&P Global Ratings on Friday said it has revised the rating outlook on ICICI Bank Ltd to stable from negative on grounds that the lender will benefit from the sale of stake in subsidiaries. The rating agency affirmed its ‘BBB-‘ long-term and ‘A-3’ short-term issuer credit ratings on ICICI Bank.
Polycab India: Polycab India Limited (PIL) has signed an agreement to acquire a 100% stake in Bengaluru-based Silvan Innovation Labs Private Limited (Silvan). The cost of acquisition is around Rs 10.2 crore for shares and around Rs 8 crore as additional funds infusion to discharge certain outstanding liabilities, a PIL statement said on Friday.
Adani Power: The company has been emerged as the successful bidder for Essar Power’s 1,200 MW thermal power project in Mahan, Madhya Pradesh (MP). The Adani Power bid for the project has been approved by a committee of creditors. Now, it will have to seek the NCLT approval to acquire the project, which is undergoing insolvency proceedings. The deal size of the project is estimated at around Rs 2,800-Rs 3,000 crore.
Fine Organic Industries: The company has made an investment by way of acquisition of 22,500 Ordinary shares at a par value of THB 100 per share in the new Joint Venture Company (JVC) namely ‘Fine Organic Industries (Thailand) Co.’ New JVC incorporated in Thailand for the purpose of carrying on the business of manufacturing of Speciality Chemical products and supplying, exporting and distribution of such products.
PFC: Power Finance Corporation’s (PFC) wholly owned subsidiary — PFC Consulting has incorporated wholly owned subsidiary namely ‘Mohanlalganj Transmission’. This incorporation will benefit the domestic and commercial consumers of the surrounding region with improved power transmission.