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Stocks to watch: Wipro, DHFL, BPCL, ONGC, BHEL, NTPC, telecom firms

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

SI Reporter  |  New Delhi 

markets, share market

At 08:38 am, Nifty futures on the Singapore Exchange (SGX) were trading 5.50 points or 0.05 per cent lower at 11,971.50, indicating a flat start for the Indian market on Friday.

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

RITES: The government has proposed to sell 2.50 crore shares of RITES, representing 10 per cent of the total paid-up equity capital of the company, to non-retail investors on Thursday, and on Friday to retail investors, via OFS on the BSE and the NSE.

Telcos: The Cabinet decision to give a two-year moratorium to telecom companies for spectrum payment is too little, too late, senior executives said a day after the government announcement.

Sterling and Wilson Solar: Global PE majors Blackstone, KKR, Apax and TPG Capital are in the race to acquire a controlling stake in Eureka Forbes, a part of Shapoorji Pallonji Group, according to a report by The Economic Times.

Maruti Suzuki India: Maruti to Bring BS-VI Petrol Version of Brezza, S-Cross before April 1.

Oil India, IOC, BPCL: The strategic sale of 53.29 per cent in Bharat Petroleum Corporation (BPCL) would be done without Numaligarh Refinery (NRL), Finance Minister Nirmala Sitharaman said on Wednesday and Oil India and IOC may get the refinery as the government wants to keep it. READ MORE

DHFL: A scathing forensic audit report by KPMG, apart from the ongoing litigation, would deter players from bidding for Dewan Housing Finance Corporation (DHFL), whose board was superseded by the Reserve Bank of India (RBI) on Wednesday, citing governance concerns and defaults. READ MORE

NTPC: Country's largest power producer NTPC may make an aggressive bid of about Rs 10,000 crore to buy out the Centre's stake in two hydro power producing companies - NEEPCO and THDC, according to this Business Standard report.

ONGC: According to reports, ONGC’s cash and balances dipped to touch a record low of Rs 504 crore in March 2019, down from Rs 1,013 crore in March 2018 and Rs 9,511 crore in March 2017 and Rs 9,957 in March 2016.

Wipro: Goldman Sachs has downgraded the stock to 'sell'. The brokerage said the IT sector likely to face cyclical hiccups ahead.

BHEL: Rating agency CRISIL has downgraded long-term bank ratings for Bharat Heavy Electricals (BHEL) from “AA+” to “AA” on weaker-than-expected operating performance and the continued decline in net cash levels in the first half of the current financial year (H1FY20).

Dr Reddy's: Betting big on the Chinese market, Dr Reddy's Laboratories which has plans to launch over 70 products in the East Asian country has started outsourcing manufacture of some of the drugs to local partners, agency PTI reported citing a company official.

First Published: Fri, November 22 2019. 08:41 IST