22 Feb , 2022 By : Kanchan Joshi
NEW DELHI: These are the top 10 stocks that could be in focus on Tuesday:
Bharti Airtel: The telco is likely to raise up to Rs5,000 crore soon through rupee-denominated bonds from the domestic market as the Sunil Mittal-led company seeks to refinance high-cost debt and fortify its balance sheet ahead of the 5G spectrum auction. This will be part of the rs7,500 crore fundraising plan announced by the company earlier this month.
TCS: The IT major has grown its revenues to $25 billion in calendar 2021 from $18.5 billion 2017, while market capitalisation has doubled to $200 billion as of September 2021 from April 2018. TCS said the next $25 billion will be driven by growth and transformation projects undertaken by clients, helped by the IT services provider’s sustained move towards cloud-based offerings.
HDFC Bank: An appellate tribunal has dismissed a Sebi order against HDFC Bank in a case related to invoking securities pledged by stockbroker BRH Wealth Kreators. In January 2021, Sebi had imposed a Rs1 crore fine on the private lender and directed to transfer Rs158.68 crore along with 7% interest per annum into an escrow account till the issue of settlement of clients' securities was reconciled.
Vedanta: Announced that it has made an oil discovery in its exploratory well in Rajasthan's Barmer district. In a regulatory filing, Vedanta said it has notified the Directorate General of Hydrocarbons and the petroleum ministry about the oil discovery in a block that was awarded to it under the Open Acreage Licensing Policy (OALP). This is the third hydrocarbon discovery notified by the company under the OALP portfolio.
IDBI Bank: IPO-bound Life Insurance Corp. (LIC) has said it would like to retain some stake in IDBI Bank so that the insurer continues to reap the benefits of the bancassurance channel. IDBI Bank became a subsidiary of LIC, effective 21 January 2019, following the acquisition of an additional 8,27,590,885 equity shares.
Tata group stocks: The Supreme Court has agreed to hear in open court a review plea filed by Cyrus Investments Ltd. against its order setting aside an appellate tribunal order which had restored Cyrus Mistry as the executive chairman of the Tata group. The petitions will be heard in open court on 9 March.
Adani Group: Adani Group and Ballard Power Systems have tied up to evaluate a joint investment in hydrogen fuel cells manufacturing in India. Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India, Adani group said in a statement.
L&T Finance Holdings: BNP Paribas Arbitrage on Monday bought shares of L&T Finance Holdings worth nearly Rs413 crore through an open market transaction. As per block deal data on BSE, over 5.78 crore shares were purchased at an average price of Rs71.35 apiece.
Hindalco Industries: Subsidiary Novelis Inc. will build a $50 million (around rs373 crore) recycling and casting centre in South Korea to expand low carbon aluminium production. Fully funded by Novelis, the Ulsan Recycling Centre will have an annual casting capacity of 100 kilotonne of low-carbon sheet ingot.
Sintex Industries: Lenders of Sintex Industries will approach the National Company Law Tribunal to seek an extension of time for the completion of the Corporate Insolvency Resolution Process and select a bidder for the debt-ridden textiles maker. The Committee of Creditors in a meeting held on Monday discussed and approved the proposal for extension of CIRP period beyond 330 days.
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