• Fri. Apr 23rd, 2021

Wadi ki Awaz

36th year of Publication

Stocks in news: RIL, Airtel, Vi, YES Bank, Ircon International, Ruchi Soya, Ion Exchange


Mar 4, 2021

The Indian benchmark indices are likely to open on flat note today, tracking mixed global cues. While Wall Street ended lower in overnight trade, Asian peers edged higher amid optimism that US stimulus will boost the global economic recovery. Muted trading at Nifty futures on the Singapore Exchange also signaled that Dalal Street was headed for a flat start on Wednesday.

Stocks to watch today: Here is a list of top stocks that are likely to be in focus in Wednesday’s trading session based on latest developments.

YES Bank: Shares of YES Bank will be in focus today after the private sector lender said its shareholders have approved a proposal for raising capital worth Rs 10,000 crore. The bank said that as many as 98.78 per cent votes in favour of the resolution to authorise the bank to raise capital through issuance of equity shares or other securities.

Reliance Industries, Bharti Airtel, Vodafone Idea: Investors will keep an eye on telecom stocks after aggressive bid in spectrum auction. Jio has acquired 488.35 MHz of airwaves across three bands (800 MHz, 1800 MHz and 2300 MHz). The spectrum, worth Rs 57,122.65 crore, is much higher than the industry estimates. Airtel has acquired 355.45 MHz of spectrum (worth Rs 18,699 crore) across five bands – 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz. Vodafone, on the other hand, was modest with acquiring airwaves. It has acquired just 11.9 MHz of spectrum for Rs 1,993.4 crore – much lower than the industry estimates.

Ircon International: The shares of railway PSU will also be in focus as the offer for sale (OFS) for up to 16 per cent government stake will open on Wednesday. The floor price for the OFS has been fixed at Rs 88 per share.

Ion Exchange India: Ace investor Rakesh Radheyshyam Jhunjhunwala and his firm Rare Investments sold shares in the company. The big bull of stock market sold worth nearly Rs 65 crore in the company through open market transactions.

IOC, HPCL and GAIL: Investors will keep an eye on shares of state-owned oil marketing companies as the government expects IOC, HPCL and GAIL to raise Rs 17000 crore by selling stakes in their pipelines in the next fiscal.

Jaiprakash Power Ventures: The power generation and distribution company said its board has approved disinvestment of 74 per cent stake in Jaypee Powergrid to PGCIL.

Bank of Baroda: The state-owned bank closed its QIP issue and fixed issue price at Rs 81.70 per share.

Ruchi Soya Industries: The edible oil manufacturers, owned by Patanjali Ayurved, created a pledge on 48.17 percent stake.

Vipul: The company has entered into an agreement to sell its 51 percent stake in subsidiary Vipul Lavanya Developers.

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