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Stocks to Watch: Reliance, ONGC, Tata Steel, Oil India, Anupam Rasayan

ONGC has signed 6 contracts for Discovered Small Fields (DSFs) under the DSF-III bid round. Contracts were signed for 3 offshore fields each in the Arabian Sea, Bay of Bengal

stocks to watch | Buzzing stocks | Stocks in focus

Harshita Singh  |  New Delhi 

funds, markets, companies, stocks
Illustration: Binay Sinha

A muted start awaits the Sensex and Nifty indices on Monday ahead of the domestic CPI data, and industrial output data. Globally, the US rose up to 2 per cent on Friday, while Asian stocks were also higher today.

At 7:30 am, the SGX Nifty futures were quoting at 17,840, down around 20-30 points from Nifty futures’ previous close.

That said, here are some stocks that will likely see some market action today:

ONGC: The company has signed 6 contracts for Discovered Small Fields (DSFs) under the DSF-III bid round. Contracts were signed for 3 offshore fields each in the Arabian Sea, Bay of Bengal.

Reliance Industries: said its subsidiary Reliance Petroleum Retail will acquire polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex for Rs 1,592 crore. The acquisitions will be done by way of slump sale on going concern basis.

Besides, the conglomerate can explore reorganisation of the company into three independent entities for different business verticals as it prepares to list subsidiaries and induct next-generation of founding family into key roles, a report by Kotak Institutional Equities said. Read here

Reliance Infrastructure: The company has filed an arbitration claim of Rs 13,400 crore against Adani Group in the Mumbai Centre for International Arbitration (MCIA). Reliance cited a breach of a December 2017 share purchase agreement relating to the transfer of its Mumbai power distribution business to Adani Transmission. Read here

SpiceJet: The budget carrier on Friday said it has appointed Ashish Kumar as its Chief Financial Officer. Kumar's appointment for the post is effective from September 9, said in a statement. Read here

Mahindra Lifespace Developers: The company is looking to acquire a few land parcels this fiscal to build housing projects with sales potential of Rs 3,000-4,000 crore, a top company official said. It will acquire these land parcels either through outright purchase or by forming Joint Development Agreements (JDAs) with landowners. Read more

Insurance stocks: The finance ministry is contemplating changes in insurance laws, including reduction in minimum capital requirement, with a view to increasing the insurance penetration in the country. The ministry is doing a comprehensive review of the Insurance Act, 1938 and also looking at making relevant changes to help push growth of the sector, sources said, adding the process is at a preliminary stage. Read here

Oil India: has dissolved its subsidiary Cyprus on September 10, 2022

Anupam Rasayan: The company said a fire incident occurred last night at its unit-6 of Sachin GIDC plant. Four people have died and 20 have been injured in the incident.

Titagarh Wagon: The Italian government and a UAE-based PE firm have acquired nearly 44 per cent stake in Titagarh Wagons' fully-owned subsidiary Firema SpA, through fresh equity infusion worth euro 20 million.

Tata Steel: The company said that the meeting of the Board of Directors is scheduled on September 14 to consider the issuance of unsecured non-convertible debentures on private placement basis.

Oberoi Realty: The company has approved scheme of amalgamation of its four subsidiary companies - Oberoi

Constructions, Oberoi Mall, EvenstaHotels and Incline Realty. The rationale for the move was to create a simplified structure with greater management focus.

KEC International/Gujarat Industries Power: Gujarat Industries Power has awarded an EPC Contract to KEC lnternational at a cost of Rs 244 crore for pooling sub-station 400/33 KV, 1200 MW of Solar /Wind / Hybrid RE Park of 2375 MW capacity at Great Rann of Kutch area,Gujarat.

PI Industries: The company has denied media reports that said the firm is in talks to acquire promoter stake of Granules India.

HG Infra Engineering: Its Subsidiary HG Ateli Narnaul Highway has received completion certificate for a road project in Haryana. With this, the project has been declared fit for entry into commercial operation on March 11, 2022.

Stocks under F&O ban: Ambuja Cements, Delta Corp

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First Published: Mon, September 12 2022. 08:03 IST