Stock in news: Future Retail, RIL, TCS, Airtel, Adani Green, Power Grid, Tata Power

0
353

The Indian stock market, Sensex and Nifty, are likely to open higher on Friday, tracking mixed global cues and firm trading at Nifty futures on the Singapore Exchange. Among the individual stocks, shares of Future Retail, Reliance Industries, Bharti Airtel, TCS, Adani Green, Power Grid, Tata Power, Aarti Drugs, Manappuram Finance will be in focus in Monday’s trading session.Stocks to watch today: Here is a list of top stocks that are likely to be in focus Monday’s trading session.

Reliance Industries: Reliance Industries has sold three-fourth of the gas from coal seams in Madhya Pradesh to an affiliate of the company at a price of just over $6 at current oil prices. India Gas Solutions Private Limited, a 50: 50 joint venture of RIL and UK’s bp, bought 0.62 million standard cubic meters per day out of 0.82 mms cmd gas bid out in an auction last week, as per report.

Future Retail: Future Retail has said it has filed an appeal in the division bench of the Delhi High Court against the ruling passed by the single-member bench, which halted Future Retail Ltd’s (FRL) Rs 24,713 crore deal with Mukesh Ambani’s Reliance Retail, a deal that was opposed by US-based e-commerce giant Amazon.

TCS: Tata Consultancy Services (TCS) has announced salary increments for its 4.7 lakh-strong workforce for the next financial year. The salary hike will be effecting from April 1, 2021, making it the first IT services company to return to the usual increment cycle in FY22.

Power Grid: Power Grid Corporation (PGCIL) has signed a share purchase agreement with Jaiprakash Power Ventures to acquire 74 per cent stake in Jaypee Powergrid for Rs 351.64 crore.

READ  'India economy on verge of slow recovery as worst is over'

Bharti Airtel: The telecom major added 6.9 million active users in January as compared to its rival Jio whose active subscribers declined by about 3.4 million.

Tata Power: The Competition Commission of India (CCI) has approved Tata Power’s proposed acquisition of 51 per cent stake in North Eastern Electricity Supply Company of Odisha.

Adani Green Energy: The company has signed a pact with the Toronto-headquartered SkyPower Global to acquire 100 per cent stake in 50 megawatt (MW) solar project in Telangana.

Aarti Drugs: The drug maker said that its board has approved the repurchase of up to 6,00,000 fully paid-up equity shares of face value of Rs 10 each of the company at a price of Rs 1,000 per share for an aggregate amount of up to Rs 60 crore.

Manappuram Finance Ltd: The gold loan finance company has said that its board of directors has approved the issuance of redeemable non-convertible debentures worth Rs 6,000 crore by way of private placement or/and public issue in one or more tranches.

Tata Chemicals: Fitch Ratings has affirmed the company’s long-term foreign-currency issuer default rating at ‘BB+’, with a stable outlook.