RIL, BEML, JSPL to be watched

Shares of Reliance Industries (RIL) will be in focus. The Competition Commission of India (CCI) on Friday (19 November 2020) approved the acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures and Reliance Retail and Fashion Lifestyle.

BEML received variation order to contract ''MRS1'' from DMRC, for additional 12 trainsets of 6 cars each (total 72 cars) to operate on line 2B and 7 of Mumbai metro project. The order is valued at Rs 501 crore (approx) on equivalent INR basis.

Jindal Steel & Power (JSPL) recorded a 13% year-on-year growth in standalone steel production at 585,000 metric tons in October 2020 as compared to 518,000 metric tons in the same month last year.

Petronet LNG signed a non-binding memorandum of understanding with Ministry of Petroleum & Natural Gas for undertaking compressed bio-gas (CBC) projects.

Credit ratings agency ICRA had reaffirmed its rating on the credit instruments of Can Fin Home worth Rs 24,420 crore and assigned 'stable' outlook on the same. The ratings agency has reaffirmed its '[ICRA]AA+' rating on the company's long term bank facilities, non-convertible debenture (NCD) programme and subordinated debt programme. It also reaffirmed the ratings on short term bank facilities and commercial paper of company at '[ICRA]A1+'.

Shares of Oil India (OIL) will be in focus. Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Steel, inaugurated the seismic survey campaign of OIL at Kakatpur in Odisha in the Mahanadi Basin (Onland).

The board of directors of IIFL Securities on Friday (20 November 2020) approved a proposal to buyback upto 1.66 crore shares (5.21% of the total number of fully paid-up equity shares) at a price not exceeding Rs 54 per share, aggregating upto Rs 90 crore.

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