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Nifty futures on the Singapore Exchange traded 209.50 points, or 1.37 per cent, lower at 15,085.50 in signs that Dalal Street was headed for a gap-down start on Thursday. Here are a few stocks which may buzz the most in today s tarde:
Adani Ports: The country s largest ports and logistics company APSEZ on Wednesday said it is acquiring Windy Lakeside Investment s 31.5 per cent stake in Gangavaram Port Ltd for Rs 1,954 crore.
IOC:
Indian Oil Corporation (IOC) plans to monetise its hydrogen-producing facilities to raise about Rs 10,000 crore, according to people familiar with the matter.
Bajaj Electricals, Mahindra Logistics: The two companies signed a logistics optimisation and outsourcing contract worth over Rs 1,000 crore for the next five years. As per the agreement, Bajaj Electricals Ltd (BEL) will outsource its entire logistics to Mahindra Logistics Ltd (MLL), which will also provide a complete end-to-end redesign.
Vodafone Idea stock investors. The message, analysts said, is: the wait for tariff hikes can be prolonged.
Jio along with Reliance Retail has rolled out its ‘New JioPhone 2021’ offer starting March 1 in a bid to upgrade 30 crore 2G subscribers to 4G services. The news should worry Vodafone Idea s investors more than Bharti Airtel s, analysts said.
New users under this scheme will be provided a JioPhone device along with unlimited voice calls and data of 2 GB per month for one year at Rs 1,499, and for two years at Rs 1,999. Existing users can opt for the same, unlimited service for one year at Rs 749. The move is seen targeting bottom-of-the-pyramid subscribers.
Here are the top stocks that are likely to be in focus today:
Reliance Industries: The company, in a late night filing, said that it has begun the process of carving out the O2C business into an independent subsidiary. The process for seeking approvals is likely to be completed by Q2FY22. The reorganisation of the O2C business will result in no change in the company s shareholding.
Jindal Power: The firm announced the appointment of former bureaucrat Anil Kumar Jha as its Chairman. A veteran of the mining industry, Jha is former chairman of Coal India Limited, JPL said in a statement.
As the economy rebounded following the Covid led-lockdown, India Inc also staged an impressive show in the December 2020 quarter (Q3FY21). Festive season-led buying, cost-cutting measures and lower raw material costs came to the fore to boost corporate earnings, beating analysts expectations. A quick analysis of the BSE 500 companies shows that there are 25 firms that reported a turnaround performance during the period under review – swinging from loss to profit – as compared to the previous corresponding period. The list includes some of the prominent names such as Adani Green Energy, Bharti Airtel, Bank of Baroda, Lupin, Steel Authority of India, Tata Steel, The India Cements, Dr Reddy s Labs, Jindal Steel & Power and Punjab National Bank.