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Stocks to watch: DHFL, Vodafone Idea, NBFCs, RIL, Sterling & Wilson Solar

Here's a look at the top stocks that may remain in focus today.

SI Reporter  |  New Delhi 

sensex, bse

At 08:22 am, Nifty futures on the Singapore Exchange (SGX) were trading 10.50 points or 0.09 per cent lower at 11,046, indicating a flat-to-negative start for the Indian market on Tuesday.

Here's a look at the top stocks that may remain in focus today -

DHFL: DHFL on Monday said it has defaulted on its financial repayment obligations worth Rs 1,571 crore with regard to issuance of bonds and commercial papers. The defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers (CPs), it said.

Tata Motors: Care Ratings has downgraded long term rating to AA- from AA; outlook has been revised from stable to Negative.

Vodafone Idea: Balesh Sharma has stepped down as company’s CEO with immediate effect due to personal reason. Ravindar Takkar has been appointed as MD and CEO for period of three years

Sterling & Wilson Solar: Shares of the company are scheduled to list on the bourses today. The company's IPO, which was opened for subscription from August 6 - August 8, was subscribed 92 per cent. It had fixed a price band of Rs 775-780 a share.

Mahanagar Gas (MGL): As per TV reports, British Gas has sold 98 lakh shares in Mahanagar Gas on NSE Block Window.

Hindalco: LIC has increased its stake in the company from 8.3 per cent to 10.4 per cent.

Nestle: Nestle Launched its cocoa-malt beverage Milo manufactured in Singapore and tailored for Indian consumer. Nestle withdrew Milo from India several years back as it did not meet action standards, reports suggest.

NBFCs, HFCs: The ministry of corporate affairs (MCA) has removed the requirement for debenture redemption reserves (DDRs) for listed companies, housing finance companies(HFCs) and non-banking financial companies(NBFCs) to reduce the cost of capital. That apart, reports say Sebi is planning to ease its norms for buyback of shares by listed companies, especially those having subsidiaries in housing finance and NBFC sectors.

RIL: Global brokerage firm Credit Suisse has upgraded the stock to Neutral from Underperform with the target price of Rs 1,210 from Rs 1,028, earlier. It factors in stronger balance sheet with debt reduction of $22 billion till FY21.

NTPC: CLSA has cut target to Rs 165 from Rs 170 but maintained 'Buy' rating on the stock. Many of the one-offs that hurt 1Q shall not repeat in 2H, it says. Thermal plant and emission capex to begin in, the brokerage says.

Himachal Futuristic (HFCL) bags purchase order worth Rs 2,467 crore from Bharat Sanchar Nigam Limited (BSNL) for Defence Communication Network.

L&T Infotech: Credit Suisse has maintained "Outperform" rating with the target price of Rs 1,900. The brokerage believes merger with Mindtree is unlikely in the near future. "In our view, potential synergies from a merger seem overstated as L&T is more concerned on steadying Mindtree with new CEO in place," it said.

Mangalore Refinery and Petrochemicals (MRPL): It said the refinery has been affected by a minor landslide as an aftermath of the intensified monsoon in Dakshina Kannada District, hence as a precautionary measure, it has structured shutdown of the Phase-III process units of the refinery to access the condition of the facilities in the vicinity and for immediate stabilisation.

CG Power: In a 13-hour long meeting between board members and audit committee, it said liabilities and advances to related parties were understated and certain assets of the company were purportedly provided as collateral without due authority.

First Published: Tue, August 20 2019. 08:24 IST