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Stocks to watch: RIL, Bharat Forge, Vedanta, Airtel, HDFC Bank, Hindalco

RIL, in a late night filing, said that it has begun the process of carving out the O2C business into an independent subsidiary

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SI Reporter  |  New Delhi 

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Nifty futures on the Singapore Exchange traded over 100 points higher at 8.30 am, indicating a gap-up start for benchmark indices on Tuesday.

Here are the top stocks that are likely to be in focus today:

Reliance Industries: The company, in a late night filing, said that it has begun the process of carving out the O2C business into an independent subsidiary. The process for seeking approvals is likely to be completed by Q2FY22. The reorganisation of the O2C business will result in no change in the company's shareholding. READ MORE

Jindal Power: The firm announced the appointment of former bureaucrat Anil Kumar Jha as its Chairman. A veteran of the mining industry, Jha is former chairman of Coal India Limited, JPL said in a statement.

Bharat Forge: It has inked a pact with global aerospace and technology firm Paramount Group to manufacture armoured vehicles in the country.

HDFC Bank: The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders.

Bharti Airtel: The company will meet global fixed income investors on or after Feb 23, 2021, to take the decision on the issuance of foreign currency bonds or notes.

Info Edge: The company said its investee company Zomato has raised $250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at $5.4 billion.

Vedanta: GR Arun Kumar has resigned as chief financial officer (CFO) of the company.

Page Industries: The company has approved the appointment of VS Ganesh as Executive Director and Chief Executive Officer of the company for a period of 5 years effective June 1, 2021.

Indiabulls Housing: The company sets floor price at Rs 227.09 per bond for its convertible bond issue.

Hindalco: expects to generate $1-1.2 billion cash flow per annum post its normal working capital and maintenance Capex and has come out with a capital allocation framework for growth Capex, debt reduction and for shareholders’ returns.

Satin Creditcare Network: Dev Verma and Sanjeev Vij resigned from the position of Chief Operation officers of the company.

Mphasis: Private equity firm Carlyle Group has emerged as a probable frontrunner to acquire Mphasis from Blackstone Group, in what could be the largest buyout in the Indian IT space, according to a media report.

IndiGo, SpiceJet: The Competition Commission of India (CCI), on Monday, dismissed a complaint pertaining to alleged cartelization among various domestic airlines.

IndiaMart InterMesh: The company announced closure of its QIP issue on February 22. The firm will issue 12.42 lakh shares at Rs 8,615 per share, which is a 4.97 per cent discount to the QIP floor price of Rs 9,065.6 per share. The company has raised Rs 1,070 crore via the QIP issue.

Alkem Labs, Ajanta Pharma and Sun Pharma: These three firms received USFDA nod for generic of Northera.

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First Published: Tue, February 23 2021. 08:35 IST
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