Stocks to watch: HDFC Bank, Vodafone Idea, Hindustan Aeronautics, Coal India, IndiGo
Eight months after barring HDFC Bank from selling new credit cards, the Reserve Bank of India (RBI) has lifted the ban.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise over 40 points at the opening bell on Wednesday. Earlier, the benchmark equity indices BSE Sensex and NSE Nifty extended record closing spree on Tuesday, led by firmness in IT and FMCG shares. The S&P BSE Sensex rose 209.69 points or 0.38% at 55,792.27. The Nifty 50 index gained 51.55 points or 0.31% to 16,614.60. Foreign portfolio investors (FPIs) sold shares worth Rs 343.73 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 266.43 crore in the Indian equity market on 17 August, provisional data showed. Here is the list of top stocks that could be in focus on August 17.
Vodafone Idea: Vodafone Idea may face an annualised cash flow shortfall of at least USD 3.1 billion (over Rs 23,000 crore) in absence of any policy relief or tariff hike, a latest note by Kotak Institutional Equities estimated on Tuesday.
Coal India: Mining major Coal India suffered losses to the tune of Rs 700 crore in the April-June quarter owing to a sharp rise in diesel prices, according to a report.
HDFC Bank: Eight months after barring the country’s largest private sector lender HDFC Bank from selling new credit cards, the Reserve Bank of India (RBI) has lifted the ban, banking sources said on Tuesday.
HAL: Hindustan Aeronautics (HAL) said it has placed an order of Rs 5,375 crore for 99 F404-GE-IN20 engines and support services with GE Aviation, USA to power the Tejas Light Combat Aircraft.
HCL Technologies: The IT firm has signed a five-year, end-to-end IT transformation services deal with Wacker Chemie AG, a German multinational chemical company, to establish a modernised digital workplace and improve its quality-of-service delivery.
InterGlobe Aviation: The company informed that ICRA has reaffirmed the company’s short-term rating at [ICRA] A1. The Long-term rating of the company has been downgraded by one level from [ICRA] A+ to [ICRA] A while the outlook remains negative.
Kaveri Seed: The company said that the meeting of the board of directors of the company is scheduled on 25 August 2021 to consider and approve the proposal of buyback of the equity shares of the company.