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Stocks to watch: Tata Steel, HDIL, Cox & Kings, Maruti, PSBs, Jet Airways

Here's a list of some of the counters that are expected to trade actively in today's session.

SI Reporter  |  New Delhi 

Firms

At 08:14 am, Nifty futures on the Singapore Exchange (SGX) were trading 5.50 points or 0.05 per cent higher at 10,947, indicating a flat start for the Indian market on Tuesday.

Here's a list of some of the counters that are expected to trade actively in today's session -

HDIL: Debt-ridden realty firm Housing Development & Infrastructure on Friday said Abhay Narayan Manudhane has been appointed as interim resolution professional (IRP) to run the insolvency proceedings that has been ordered against the company.

PSU bank stocks: The government on Friday unveiled a plan to merge 10 public sector banks (PSBs) into four, reducing the number of state-owned banks from 18 to 12, in a bid to create “next-generation” financial institutions with stronger balance sheets and bigger risk appetite. READ MORE

Auto stocks: India’s automakers on Sunday reported their monthly sales numbers, which showed that sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year. Sales for Maruti Suzuki fell by 32.7 per cent, the worst decline for the company ever. Tata Motors’ sales in the domestic market declined 58 per cent, compared to the similar period last year. READ MORE

Voda Idea: Vodafone Idea is renewing its focus on low-end recharges like Rs 20 and Rs 49 in a bid to regain 14 million subscribers the merged telco has shed recently. However, the continued spend on premium customers through content partnerships may strain the company on both ends of the average revenue per user (ARPU) scale. READ MORE

Cox & Kings: The travel company is exploring a potential sale of European hospitality chain Meininger Hotels as it seeks to cut debt, according to a report by Bloomberg.

Tata Steel: Tata Steel said on Monday it would shut parts of its non-core businesses in the United Kingdom, a move that could cost about 400 jobs. The company proposed to close its loss-making Orb Electrical Steels site in South Wales, potentially affecting up to 380 jobs, as it was "unable to find a way forward" for the business.

Jet Airways: The decision of Jet Airways’ lenders to extend the deadline for submission of expression of interest (EoI) did not pay any dividend as the grounded airline failed to attract any new bidder till August 31, Business Standard reported quoting sources.

Bharti Airtel: In a bid to take on rival Reliance Jio’s fiber-to-home (FTH) plan JioFiber, Bharti Airtel on Monday launched its digital entertainment platform Airtel Xstream. Its subscribers will be able to access live TV, video, music, and sports on an over-the-top (OTT) smart stick, internet-enabled set top box, and handheld devices. READ MORE

CG Power: The company's board on Friday terminated the employment of VR Venkatesh as the Chief Financial Officer of the Company.

Divi's Lab: The company's Unit-2 Vishakhapatnam was inspected by 5 inspectors from HPRA (Ireland) and JAZMP (Slovenia) from 26th August, 2019 to 30th August, 2019. The inspection was concluded successfully with no critical observations, it said in a regulatory filing.

Neuland Lab: USFDA inspected the manufacturing facility located at Bonthapally, Hyderabad from June 17 to 21.

Biocon: US FDA issued Complete Response Letter (CRL) for New Drug Application for Insulin Glargine. The CRL did not identify any outstanding scientific issues with the application, the company said in a regulatory filing to BSE.

Manappuram Finance: Rating agency CRISIL has upgraded the long-term bank loan facilities to AA with stable outlook as it believes the company's capitalisation and asset quality will remain strong supported by its gold loan business.

BPCL, IOC: The Centre is planning to offload its entire stake worth a little more than Rs 40,000 crore in Bharat Petroleum Corporation (BPCL), most likely to fellow state-owned oil-marketing company Indian Oil Corporation (IOCL). READ MORE

First Published: Tue, September 03 2019. 08:16 IST
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