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Stocks to Watch Today: Glenmark Pharma, infra stocks, Voda Idea, ONGC

16 Aug , 2021   By : Kanchan Joshi


Stocks to Watch Today: Glenmark Pharma, infra stocks, Voda Idea, ONGC

NEW DELHI: Here are top ten stocks that may be in the news today.


Bharti Airtel: Bharti Airtel Ltd on Friday said it has achieved the closure of its agreement with rival Reliance Jio Infocomm Ltd to transfer the ‘Right to Use’ of Airtel’s 800MHz spectrum in three circles to Jio. Airtel has received Rs1,004.8 crore (net of tax) from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs469.3 crore relating to the spectrum.


Coal India: The company has set a capital expenditure target of Rs17,000 crore for the 2021-22 financial year, which is around Rs4,000 crore more than its spending last year, an official said on Sunday. The state-owned miner is expecting an improvement in cash flow with rising demand for coal and higher realisation from e-auction sales, according to a news report.


Glenmark Pharma: The company reported Q1 consolidated revenue of Rs29,649 million as against Rs23,448 million recording an increase of 26%. Consolidated EBITDA grew by 20% to Rs5,736 million in the quarter ended 30 June 2021 as against Rs4,781 million in the previous corresponding quarter.


Godrej Industries: Veteran industrialist Adi Godrej will step down as chairman as well as from the board of directors of Godrej Industries Ltd, passing on the baton to his younger brother Nadir Godrej, effective October 1, according to a company statement. The 79-year-old industrialist will continue to serve as chairman of the Godrej Group and chairman emeritus of GIL, said the statement.


IDBI Bank: KPMG India may be the front-runner to work as transaction advisor for the strategic sale process of IDBI Bank, according to media reports.  


Infrastructure stocks: Prime Minister Narendra Modi on Sunday unveiled plans to launch a Rs100 trillion integrated infrastructure scheme that would make the economy more competitive. The PM Gati Shakti scheme is aimed at breaking the silos between road, rail, air and waterways to reduce travel time, improving industrial productivity, making manufacturing globally competitive, facilitating future economic zones and creating employment.


NTPC: The company has floated a global expression of interest (EoI) to set up a pilot project on hydrogen blending with natural gas in city gas distribution network. 


ONGC: The state-owned oil exploration company's net profit soared by nearly 800 per cent in the first quarter of the current fiscal after more than doubling of oil prices compensated for a fall in production. Net profit in April-June at Rs4,335 crore was 772.2% higher than Rs497 crore in Q1 of previous fiscal when demand as well as price had plummeted due to coronavirus-related lockdown, the company said in a statement.


Spicejet: The air carrier has reported its sixth consecutive quarterly loss at Rs731.12 crore during the three month period that ended on 30 June. This is primarily because of the impact of second wave of covid-19 during the quarter, which led to a massive decline in passenger traffic. The Gurugram-based carrier said its operations were significantly hit by the continued impact of covid-19, which affected travel demand during the June quarter.


Vodafone Idea: The debt-ridden private telecom company on Saturday posted consolidated loss of Rs7,319 crore for the first quarter ended on June 30, 2021, against Rs25,460 crore loss in the same quarter a year ago. The consolidated revenue from operations of Vodafone Idea (VIL) declined by about 14% to Rs9,152.3 crore during the reported quarter from Rs10,659.3 crore in the corresponding quarter of 2020-21.


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