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Auto, telecom stocks in focus

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Auto stocks will be in focus after declaring monthly sales figures. Maruti Suzuki said its total monthly sales were down 1.9% at 1,50,630 units in November 2019 from 1,53,539 units in November 2018.

Mahindra and Mahindra said the company's overall automotive sales (Domestic + Exports) stood at 41,235 vehicles in November 2019, compared to 45,101 vehicles during November 2018, down 9%.

Tata Motors said its total monthly sales fell 25% at 38,057 units in November 2019 as against 50,470 units in November 2018. Sales in the domestic & international market, for the month of November 2019, stood at 41,124 vehicles, compared to 55,074 units during November 2018.

Telecom stocks will be in focus on tariff hike announcement. Vodafone Idea announced new tariffs/plans for its prepaid products and services. New plans will be available across India starting 3 December 2019.

Bharti Airtel said its revised tariff plans for its mobile customers will be applicable from 3 December 2019. New plans, represent tariff increases in the range of a mere 50 paise/day to Rs. 2.85/day and offer generous data and calling benefits, Bharti Airtel said.

Meanwhile, Bharti Airtel said the meeting of the Board of Directors of the Company is scheduled to be held on 4 December 2019 to consider and evaluate any and all proposals for raising of funds either by issuance of equity shares, and or bonds including foreign currency convertible bonds / debentures / non-convertible debt instruments along with warrants / convertible debentures / securities and / or any other equity based instruments / securities including through qualified institutions placement or rights issue, or through any other permissible mode or any combination thereof of any of the above.

Reliance Industries (RIL) said Jio will be introducing New All-in-One plans with unlimited voice and data. These plans will have a fair usage policy for calls to other mobile networks. The new plans will be effective from 6 December 2019.

Infosys announced an agreement with the Australian Federal Government's Services Australia to transform the entitlement calculation engine for the nation's welfare system. The project will enable Services Australia to more quickly implement policy changes for the benefit of Australians without disrupting services and deliver operational cost savings.

Yes Bank said it will raise upto $2 billion through preferential allotment at a price in accordance with Chapter V of the Sebi (Issue of Capital and Disclosure Requirements) Regulations, 2018 [Higher of 2 weeks or 26 weeks average price].

Rashtriya Chemicals and Fertilizers said India Ratings & Research had downgraded Rs 500 crore long term-NCD's rating to Ind AA negative from Ind AA stable. The rating was downgraded due to pressure on cash flows owing to delayed subsidy coupled with weaker operating performance.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 02 2019. 08:47 IST
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