21 Feb , 2022 By : Kanchan Joshi
NEW DELHI: Here are the top 10 stocks that could be in focus on Monday:
Reliance Industries: Amazon.com Inc and Reliance Industries Ltd will likely battle media heavyweights for telecast rights to India’s premier cricket league with its hundreds of millions of viewers. The companies are expected to take on India units of Sony Group Corp. and Walt Disney Co. for exclusive five-year TV and digital broadcast rights to the two-month series of matches, at a cost that could run to a record Rs50,000 crore.
Telecom stocks: The sector’s revenue growth is likely to more than double to nearly 10% sequentially in the March quarter of FY22, when the full beneficial impact of sharp tariff hikes of last November hits home, as per media reports. Telecom sector revenues grew at 4.5% and 4.2% sequentially in the second and third quarters of FY22.
Vodafone Idea: The Centre will hire a transaction adviser to help manage the conversion of interest dues related to deferred spectrum payments and adjusted gross revenue into equity in the telco. The adviser, along with the finance ministry and the department of telecommunications, will determine how much the government will in the company. Vodafone Idea had proposed the government convert interest dues amounting to Rs16,000 crore for a 35.8% stake in the struggling operator.
InterGlobe Aviation: IndiGo co-founder Rakesh Gangwal has resigned from the board and is planning to cut his stake in the airline over the next five years, parent InterGlobe Aviation said in an exchange filing. Gangwal and his family owns 36.61% stake in the parent company, while another co-founder and managing director Rahul Bhatia and his family owns about 37.8%, giving them both a major say in the carrier's strategy.
Future Retail: The debt-ridden company of Kishore Biyani's Future Group has made a payment of $14 million (about Rs105 crore) for interest due on the dollar-denominated notes listed on the Singapore Stock Exchange after missing the due date last month.
Federal Bank: Fedbank Financial Services Ltd (FedFina), a subsidiary of Federal Bank, has filed draft papers with Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). The public issue consists of a fresh issue aggregating up to Rs900 crore and an Offer for Sale (OFS) of up to 45,714,286 equity shares by promoter and investor, according to the draft red herring prospectus (DRHP).
Equitas Small Finance Bank: The bank will receive Rs550 crore from qualified institutional investors as it has approved the allotment of 10.26 crore equity shares at issue price of Rs53.59 per share. The QIP issue was opened for bidding during February 14-18.
Escorts: The tractor maker will receive Rs1,872.74 crore from Kubota Corporation as it approved preferential allotment of 93.63 lakh equity shares at Rs2,000 apiece. After the allotment, Kubota Corporation holds 16.39 percent stake in Escorts.
Power Finance Corp: Life Insurance Corp. of India has sold 2.02% stake in the company via open market transactions. As a result, its shareholding in the company reduced to 5.06% from 7.09 percent earlier.
NTPC: The state-run company said it surpassed the maximum annual electricity generation of 314 billion units achieved in 2020-21 on 18 February. NTPC has recorded a generation of 314.89 billion units up to 18 February.
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