Stocks to Watch: Aurobindo, Sun Pharma, Future Retail, Vedanta, Voda Idea

Shares of Adani Power are likely to be in focus as the company received a favourable verdict from the Supreme Court against power discoms in Rajasthan.

The key benchmark indices are likely to start trade on a flat note as Russia-Ukraine conflicts weigh on the investor sentiment. As of 07:55 AM, the SGX Nifty futures quoted at 16,663, as against the spot Nifty 50 close of 16,658 on Frrday. Meanwhile, here are the top stocks in focus for trade on Monday.

Future Retail: The company has shut most of its Big Bazaar stores since February 25 and its website is also down as it missed lease payments to Reliance Industries. The latter will open most of the 200 Future Retail stores as Reliance stores in the next week and it is in the process of taking stock, re-branding, and transferring 30,000 Future Retail and Future Lifestyle employees on to the rolls of its manpower and staffing firm Reliance SMSL, according to a source. READ MORE

Vedanta: The company’s aluminium business would focus on backward integration in the next fiscal and would bring into production two of its mines in Odisha to provide raw material security for its plants, according to a PTI report.

Meanwhile, CRISIL Ratings recently upgraded the rating on Vedanta’s long-term bank facilities and debt instruments from “AA-” to “AA” on stronger-than-expected operating profitability driven by elevated commodity prices during FY22. 

Union Bank of India: The PSU bank plans to raise up to Rs 1,500 crore in capital through tier-I bonds and another Rs 1,100 crore via Indian Renewable Energy Development Agency (IREDA) via medium-term bonds in the coming week.

Kalyan Jewellers: The company is planning to enter the franchise model in the first half of the next financial year to accelerate expansion mainly in the non-southern India market, stated a PTI report. 

Aurobindo, Sun Pharma: The two drug makers are recalling different products in the US market due to deviation from standard manufacturing norms. According to the latest enforcement report issued by the USFDA, the US-based arm of Aurobindo Pharma is recalling 1,15,776 bottles of Moxifloxacin Ophthalmic Solution, an antibiotic used in the treatment of bacterial infections. READ MORE

Bharti Airtel: The telecom major has decided to acquire an additional 4.7 per cent stake in Indus Towers from Vodafone Group. The two companies signed an agreement on the condition that Vodafone will use the proceeds to invest in Vodafone Idea (Vi) and the latter will clear its pending dues with Indus Towers.

Shriram Transport Finance Company (STFC): The company informed BSE, that it raised Rs 900 crore by issuing bonds on a private placement basis and the proceeds from the issue will be used for further lending and other business purposes.

Adani Power: The Supreme Court on Friday ruled in favor of billionaire Gautam Adani’s power unit, saying state-run distribution companies in Rajasthan have to pay Adani Power Rs 3,048 crore and additional interest to compensate for higher fuel costs.

Rain Industries: The company posted a net loss of Rs 72.31 crore in Q3FY21 as against a net profit of Rs 321.99 crore in the corresponding quarter a year ago. Total income, however, surged 34 per cent YoY to Rs 4,080.68 crore.