Stocks in the news; Market Updates
Asian share markets retreated from highs on Monday as disappointing news on US consumer spending tempered risk sentiment ahead of a closely-watched reading on the health of the Chinese economy.
Tracking weakness in Asian peers, Indian markets too had a weak start on Monday morning.
Earnings today:
Mindtree, IndiaMart, Rallis India and 18 other companies will release their Q3 numbers today.
IPO Alert:
The three-day initial public offer (IPO) of Indian Railway Finance Corporation (IRFC) will open today, and will culminate on Wednesday, January 20. Attractive valuation, healthy return-ratios, expectations to post strong growth, relatively low risk business model, strategic role in financing growth of Indian Railways, and long-term prospects considering electrification and network expansion make analysts optimistic on the long-term prospects for IRFC.
Stocks in the news:
Bharti Airtel: The company is preparing to raise a billion dollars with an offer of perpetual bonds — securities with no maturity date for investors, ET reported.
Metropolis Healthcare: The company will acquire Hitech Diagnostic for Rs 511 crore.
DHFL: The Committee Of Creditors approved resolution plan submitted by Piramal Capital.
Banking Stocks: RBI said the bank loan growth hit 9-month high of 6.7 percent for the week ended January 1. As per RBI Data, bank credit growth was last at 6.8 percent in April 2020.
Captain Polyplast: The company has undertaken addition of new manufacturing lines at the Kurnool plant considering the positive traction in sales from the plant in current year.
Vedanta: The voluntary open offer for acquisition of over 37.17 crore shares will open on March 4 and close on March 18, 2021.
HCL Tech: The company reported a 26.7 percent jump in consolidated profit for the quarter ended December 2020 at Rs 3,982 crore, versus Rs 3,142 crore in the previous quarter.
Wipro has been chosen as the strategic technology services partner by Fiat Chrysler Automobiles.
SAIL’s retail portion of the OFS was subscribed 5.22 times on Friday. Investors bid for nearly 12.5 crore shares as compared to the 5.16 crore shares on offer.
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