Stocks in the News (01 Sep):
L&T, BEML, Tata Power – The Defence Ministry has signed contracts worth Rs 2,580 crores on August 31 with Indian companies to supply six Army regiments with Pinaka missiles which includes companies such as Bharat Earth Movers Ltd (BEML), Tata Power Company Ltd (TPCL), and Larsen & Toubro (L&T).
L&T Company completed divestment of electrical & automation operations to Schneider Electric.
Bharti Airtel – Integrated Core Strategies (Asia), a Singapore-based investment firm acquired Rs 1,952.9 crore worth shares of Bharti Airtel via an open market transaction on August 31. It bought 3,80,10,584 equity shares of Bharti Airtel (representing 0.69 percent of its total paid-up equity) at Rs Rs 513.79 per share, bulk deals data available on the National Stock Exchange showed.
Bharti Infratel – On Monday the Company Board approved the company’s merger with Indus Tower.
JK Cement reported a 62.25% decline in consolidated net profit at Rs 49.94 crore for the Q1FY21 as company’s operations and business performance was impacted due to lockdown.
Biocon The Company’s subsidiary Biocon Biologics and partner Mylan have launched insulin glargine injection, under the brand name Semglee, in the US market, said the Bengaluru-based company on Monday.
Telecom stocks and financials are set to trade actively today as Justice Arun Mishra-led Supreme Court bench will pronounce the much-awaited AGR dues’ verdict relating to telecom companies at 11:30 am. Justice Mishra will pronounce key judgements in the case involving timelines for payment of AGR dues by telcos, which might decide the fortunes of Vodafone Idea in particular.
Auto stocks will react to their sales numbers for August which will start pouring in from today.
Hotel stocks -Maharashtra has allowed hotels and lodges to operate at 100% capacity.