Stocks to Watch: RIL, Tech Mahindra, Yes Bank, ITC, Bharti Infratel, Pfizer, United Spirits
Here’s a list of top stocks that may be in news on Tuesday:
1. RIL: Reliance Industries Ltd (RIL) is close to buying Future Group’s retail assets for ₹24,000-27,000 crore to bolster its position in India’s retail segment, according to a Mint report. The estimated deal value includes the liabilities of Future Group that Reliance plans to absorb, it added.
2. Tech Mahindra: The company’s June quarter net profit rose 1.35% year-on-year to ₹972.3 crores. As compared to the preceding March quarter, the net profit of the country's fifth-biggest software exporter jumped over 20%. Revenues rose to ₹9,106 crores, up 5.23% when compared with the year-ago period, but down 4% sequentially.
3. ITC: Diversified business entity ITC Ltd has announced the acquisition of spices manufacturer Sunrise Foods Private Ltd in an all-cash deal valued at ₹2,150 crores.
4. Yes, Bank: State Bank of India (SBI) on Monday said its holding in Yes Bank has come down to 30% after the follow on public offer (FPO). Prior to the FPO, SBI holding in Yes Bank stood at 48.21%, the country's largest lender said in a regulatory filing.
5. Indian Oil Corp: The country's top refiner, has formed an equal joint venture with France's Total to manufacture and market high-quality bitumen derivatives and specialty products for India's growing road-building industry. The joint venture will set up manufacturing units across the country and also explore the possibility of catering to other South Asian markets, IOC said in a statement.
6. Bharti Infratel: Telecom infrastructure company Bharti Infratel reported a 21% drop in consolidated net profit to ₹704 crores for the April-June quarter. The net profit stood at ₹887 crores in the corresponding quarter of the previous year, when the company had benefited from certain one-off gains with respect to operating expense reversal and certain tax-related reversal.
7. SpiceJet: Budget carrier SpiceJet Ltd will operate its first long-haul flight between Amsterdam, Bengaluru, and Hyderabad on 1-2 August, said a Mint report, adding that it will subsequently operate several such long-haul charter flights.
8. Pfizer: The company reported a 10.31% rise in its net profit to ₹124.45 crores for the quarter ended 30 June. Pfizer Ltd had posted a net profit of ₹112.81 crores for the corresponding period of the previous fiscal, it said in a BSE filing.
9. United Spirits: Diageo controlled liquor maker United Spirits reported a consolidated net loss of ₹246.6 crore for the first quarter ended June 30, mainly due to COVID-19 and subsequent lockdown. The company had posted a net profit of ₹181.7 crores in the April-June quarter a year ago, United Spirits Ltd said in a regulatory filing.
10. M&M Financial Services: Non-banking financial company Mahindra & Mahindra Financial Services on Monday said its ₹3,088.82 crore rights issue will open for subscription on 28 July. The company will issue 61.78 crore equity shares of the face value of ₹2 each (equity shares) at a price of ₹50 per equity share aggregating to ₹3,088.82 crores on a rights basis.
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