Stocks to watch: Mindtree, Vodafone Idea, RIL, IDBI Bank, Shilpa Medicare
Shrewd futures on the Singapore Stock Exchange traded 133.50 points higher at 15,821.50 around 8 a.m., indicating a start of a spread for benchmarks on Tuesday.
Here are the main actions to follow during today’s session:
Earnings today: Mindtree, Tata Metaliks, Deccan Health Care, Shree Ganesh Remedies and WS Industries are among eight companies that will release their quarterly results today.
RIL, Airtel, Voda Idea: Shares of telecom companies will be center of attention after latest data from TRAI showed Reliance Jio to lead the mobile subscriber additions market as it gained 4.7 million users in April even as struggling Vodafone Idea lost 1.8 million customers over the same period. Bharti Airtel added just 0.51 million mobile subscribers in April.
Sunteck Realty: The company’s presales increased 74% year-on-year in the first quarter of fiscal year 22 to Rs 176 crore and collections increased 165% year-on-year to Rs 172 crore.
Housing Financing GNP: Market regulator Sebi has no jurisdiction to order a listed company to adhere to its articles of association, PNB Housing Finance told the Securities Appeals Tribunal on Monday. The company said appointing an approved appraiser to determine the price of its proposed preferential grant would be in violation of company law provisions. READ HERE
FDC: The company launched in India the first oral suspension of Favipiravir – the Favenza oral suspension, used to treat mild to moderate cases of Covid-19.
Vedanta: An arbitral tribunal in a partial final award ruled that Zambia’s ZCCM violated dispute settlement provisions in shareholder agreements of Vedanta Resources’ Konkola Copper Mines (KCM), the mining group said on Monday .
Shipping company: The Shipping Corporation of India, linked to the divestment, announced on Monday that it had opened the virtual data room for potential bidders. Access to the virtual data room will allow bidders to obtain detailed financial information about the company as well as review financial liabilities, contracts and other documents relevant to making a financial bid.
CGSB: The fair trade regulator, the Indian Competition Commission (ICC), on Monday approved the acquisition of 23.5% of the capital of ONGC Tripura Power Company Ltd by Summit India (Tripura).
MotoCorp Heroes: The two-wheeler manufacturer remains optimistic about the growth prospects in the national and international markets, as it seeks to strengthen its presence in the high-end two-wheeler segment and to develop its skills in the field of electric vehicles, according to the company’s annual report. for 2020-21.
HFCL: National telecommunications equipment maker HFCL reported tripling its consolidated after-tax profit to Rs 90.69 crore for the first quarter ended June 30, 2021.
Trusted industries: The company has invested Rs 1,000,000 in cash in 10,000 shares of Rs 10 each of “Reliance New Energy Solar” (RNESL), a newly incorporated wholly owned subsidiary. RNESL is incorporated to undertake activities related to solar energy. RNSL has not yet started its commercial activities.
Ashoka Buildcon: The company has received a letter of acceptance from the National Highways Authority of India for the development of the Memmadpur (Ambala) – Banur (IT City Chowk) – Kharar (Chandigarh) corridor for a bid price of Rs 726 crore.
Shilpa Medicare: The board of directors of the company has approved the transfer of the API business consisting of units 1 and 2 located in Raichur, Karnataka, by way of discount sale to a wholly owned subsidiary of the company.
IDBI Bank: Moody’s improved the IDBI’s benchmark credit rating (BCA) to b1 from b2. IDBI’s local and foreign currency bank deposit ratings are two notches above its benchmark credit rating (BCA) and adjusted BCA of b1.