16 Jul , 2021 By : Kanchan Joshi
NEW DELHI: Here are top 10 stocks that may be in the news today.
Aviation stocks: The current slot allocation systems at Indian airports are not aligned to global best practises and there is an urgent need for strong regulation, transparency and centralized coordination structure in allocation of slots in the country, aviation consultancy Capa India said in a webinar presentation on Thursday.
Banking stocks: India's decision to ban Mastercard Inc for non-compliance with data storage rules has unsettled the country's financial sector as it will disrupt banks' card offerings and hit revenues, payments and banking industry executives told Reuters.
ITC: The company, that sells popular packaged consumer brands, such as Aashirvaad flour, Bingo! chips, YiPPee! noodles, Sunfeast biscuits and Savlon, saw its sales double via e-commerce in FY21 in its fast-moving consumer goods business, excluding cigarettes.
Just Dial: The local search company is reportedly in talks with Reliance Industries for potential acquisition. Just Dial was also in potential talks with Tata Digital, according to media reports. The company has called a meeting today to discuss potential offers, according to media reports.
Grasim industries: The company has partnered with Century Textiles and Industries Ltd to form an equally owned joint venture Birla Advanced Knits Pvt. Ltd. The company’s authorized share capital is Rs10 lakh, divided into 1 lakh equity shares of Rs10 each. CTIL and Grasim have initially agreed to subscribe to 5000 equity shares each at a face value of Rs10 per share.
MFI stocks: India Ratings and Research on Thursday revised upwards its credit cost estimate for the microfinance institution (MFI) sector to 5-10% in the current financial year as compared to an earlier expectation of 3-6%. The agency, however, said most of its large-rated MFIs would be able to absorb higher credit costs through their income statement, with minimal impact on equity.
Power stocks: Power consumption grew nearly 17% in the first fortnight of July to 59.36 billion units (BU) and returned to pre-pandemic level mainly due to easing of lockdown curbs and delayed monsoon, according to power ministry data. Power consumption during July 1-14 last year was 50.79 BU.
RIL: Reliance Industries Ltd (RIL) has added 499 units and affiliates in just over four years as the refiner and chemicals maker expanded into new businesses, including telecom and renewable energy. India’s most valuable company had 88 Indian and 47 foreign units in 2016-17. That increased to 296 Indian and 53 foreign subsidiaries in 2020-21, according to RIL’s latest annual report.
Venus Remedies: The pharmaceutical company on Thursday launched a dedicated consumer healthcare division, foraying into the Rs30,000-crore consumer healthcare market in India.
Wipro: The Bengaluru-based company said fiscal first-quarter profit rose 35% to Rs3,230 crore from a year ago, beating analyst estimates by a wide margin. Revenue grew 22.4% to Rs18,250 crore in the three months to 30 June. Analysts expected profit and revenue of Rs2,826.2 crore and Rs17,602.6 crore, respectively, according to a Bloomberg survey.
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