Stocks in focus: RailTel Corporation, Bharti Airtel, Vodafone Idea, BPCL, IDBI Bank, IRCTC

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Updated: Mar 02, 2021 8:46 AM

Nifty futures were trading 72.50 points or 0.49 per cent higher at 14,865.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Tuesday.

stocks in focus, RailTel, IRCTC, AirtelIndian stock market will continue to take cues from global peers, in absence of any major domestic event. Image: Reuters

Nifty futures were trading 72.50 points or 0.49 per cent higher at 14,865.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Tuesday. Indian stock market will continue to take cues from global peers, in absence of any major domestic event. Besides, bond yields and the COVID-19 pandemic situation in India would remain on investors’ radar. “We thus suggest limiting naked leveraged positions and using further decline to add quality stocks,” Ajit Mishra, VP – Research, Religare Broking Ltd, said.

Stocks in focus today:

RailTel Corporation of India: Vaibhav Stock and Derivatives Broking Private Ltd bought 24.32 lakh shares of RailTel Corporation of India at Rs 139.22 of which 24.33 lakh were sold by Vaibhav Stock and Derivatives Broking Private Ltd at Rs 139.29, according to the NSE bulk deals.

Bharti Airtel, Vodafone Idea: Telecom operators such as Bharti Airtel, Vodafone Idea, Reliance Jio, put in bids worth Rs 77,146 crore at the spectrum auctions that started on Monday. A government statement said the pre-bid estimate was Rs 45,000 crore which has been exceeded on Day 1.

BPCL: Ahead of privatisation of Bharat Petroleum Corporation (BPCL), the board of the fuel-retailer-cum-refiner on Monday approved sale of the company’s 61.65% stake in Numaligarh Refinery (NRL) which will garner about Rs 5,232 crore to the Centre as special dividend.

Sterlite Technologies: In a BSE press release, Sterlite Technologies announced major new deals and extensions to current engagement with leading telcos in the Middle East and Africa region (MEA). The deals worth more than $100 million take STL’s order book to a record high of Rs 11,300 crore and exhibit the company’s focus on building future ready digital networks in the region.

IDBI Bank: LIC-controlled IDBI Bank will set off its accumulated losses worth Rs 45,586 crore against the balance in the securities premium account, according to the bank’s draft scheme.

IRCTC: Ministry of Railways on Monday directed its catering business, Indian Railway Catering and Tourism Corporation (IRCTC) to terminate all existing mobile catering contracts involving scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions.

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