Stocks to Watch: RIL, Ambuja Cements, Torrent Power, Easy Trip, Banks

Banking shares may see some action after four banks hiked deposit rates in the last one week, an indication that the interest rate cycle has turned amid uptick in loan demand.

The key benchmark indices are likely to start trade on a subdued note amid weak global cues as the Russia-Ukraine worries continue to linger. As of 07:40 AM, the SGX Nifty futures quoted at 17,250, indicating a likely opening loss of 50-odd points on the Nifty 50 index. Meanwhile, here are the top stocks in focus for trade on Friday.

Reliance Industries (RIL): The Mukesh Ambani-led company listed their existing foreign currency bonds of over $7 billion on India INX becoming the largest such listing by a private entity in India INX and GIFT IFSC. The listing includes the $4 billion jumbo bonds raised in January 2022, which was termed as the largest ever foreign currency bond issuance in South East Asia. READ MORE

Hero MotoCorp: In a boost for Hero MotoCorp’s EV plans, the Delhi High Court hasn’t barred the company from using Hero brand name for its electric vehicles, but has instead asked the Munjal scions to settle the dispute through an arbitration. The arbitration panel includes three retired judges. READ MORE

Ambuja Cements: The cement major’s consolidated Q3 net profit plunged 55.5 per cent to Rs 430.97 crore in the quarter ended December 2021 when compared with Rs 968.24 crore in the corresponding quarter a year ago. Total income, however, was up 2.1 per cent YoY at Rs 7,709.61 crore.

Telecom stocks: The mobile user count in India fell by 12.8 million in December 2021 compared to the previous month, with Reliance Jio and Vodafone Idea suffering subscriber losses, even as Bharti Airtel added customers, Trai data showed on Thursday.

NBFCs: The Reserve Bank of India’s (RBI’s) decision to defer the implementation of revised NPA norms by six months for non-banking finance companies will save them from the burden of making additional provisions, especially in the fourth quarter ending March 2022 (FY22). READ MORE

Banks: Commercial banks in India, including State Bank of India and HDFC Bank, have revised their deposit rates upward by 5-15 bps in an indication that the interest rate cycle has turned amid uptick in loan demand. Since the Reserve Bank of India’s monetary policy on February 10, four banks have revised their deposit rates — UCO Bank and Central Bank of India — apart from SBI and HDFC Bank. READ MORE

Ishan Dyes & Chemicals: The company has scheduled its board meeting on February 22 to consider and approve allotment of equity shares on conversion of warrants at Rs 61 each. The stock last traded at Rs 139 on Thursday.

Punjab & Sind Bank: The bank’s board approved a proposal to create and allot equity shares up to Rs 4,600 crore to the Government of India by way of preferential issue of shares.

Bajaj Consumer Care: The company informed BSE that it plans to launch a new product namely – Bajaj Coco Onion, non-sticky coconut hair oil tentatively on February 21, 2022.

Torrent Power: The company informed BSE that ratings agency CRISIL Ratings upgraded the company’s long-term credit rating on non-convertible debentures and long-term bank facilities to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Positive’ considering, apart from other factors, continued strong profitability and sustained improvement in the leverage levels. The rating on short-term bank facilities and commercial paper programme  was reaffirmed at ‘CRISIL A1+’.

Easy Trip Planners: The company has fixed March 02 as the record date for its proposed bonus share issue in the ratio of 1:1.

Stocks in F&O ban: Escorts and Indiabulls Housing Finance are the only two stocks in the F&O ban period on Friday.