Stocks in focus: Bharti Airtel, Vodafone Idea, ICICI Bank, BPCL, HAL, ICICI Securities

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August 27, 2020 9:02 AM

Today, a total of 51 companies such as Edelweiss Financial Services, NMDC, ARSS Infrastructure, GMR Infrastructure, Avanti Feeds, BFL Asset Finvest, BL Kashyap, Chennai Ferrous Industries are scheduled to announce their quarterly earnings.

Bharti Airtel, vodafone idea, bpcl, stocks infocusThe market is likely to continue its positive momentum in the near term with more of stock-specific actions

Nifty futures were trading 35.75 points or 0.31 per cent higher at 11,590.20 on Singaporean Exchange, suggesting a flat to a positive start for BSE Sensex and Nifty 50 on Thursday. A host of factors such as 41st meeting of GST Council, an annual general meeting of Tata Sons, monthly derivative contracts expiry, corporate results and stock-specific actions will sway the market sentiment today. “The market is likely to continue its positive momentum in the near term with more of stock-specific actions. Strong global cues led by positive news flows around vaccine development and further ease in tensions between US-China, would support the positive momentum,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today

Bharti Airtel, Vodafone Idea: Vodafone Idea continues to cede market share to Reliance Jio and Bharti Airtel, signalling that the sector is fast moving towards a duopoly. As per financial data shared by the Telecom Regulatory Authority of India (Trai) for the April-June 2020 period, the adjusted gross revenue (AGR) of Vodafone Idea declined 22% to Rs 8,567 crore compared with Rs 10,916 crore in the preceding January-March quarter.

ICICI Bank, ICICI Sec: ICICI Bank said it will sell up to 2 per cent of its holding in ICICI Securities through an open market transaction. “The Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value Rs 5 each of ICICI Securities Limited (company), representing up to 2 per cent of its issued and paid-up equity share capital, through an open market sale,” ICICI Bank said in a regulatory filing.

BPCL: Bharat Petroleum Corporation has resumed work on as many as 2,118 projects involving a capital expenditure (capex) of around Rs 50,300 crore over three years. Of the total estimated capital investment, Rs 9,597 crore is targeted for the current fiscal, of which it has already spent Rs 1,650 crore, the second-largest oil marketing company said on Wednesday.

HAL: The government will sell up to 15 per cent stake in Hindustan Aeronautics through an offer for sale (OFS), at a floor price of Rs 1,001 per share, which could fetch the exchequer around Rs 5,020 crore.

NMDC, GMR Infrastructure: Today, a total of 51 companies such as Edelweiss Financial Services, NMDC, ARSS Infrastructure, GMR Infrastructure, Avanti Feeds, BFL Asset Finvest, BL Kashyap, Chennai Ferrous Industries, Gayatri Projects, HCC, ICRA, IDFC, PNC Infratech, are scheduled to announce their quarterly earnings.

VA Tech Wabag: In a bulk deal on Wednesday Sumitomo Corporation sold 24.56 lakh shares of VA Tech Wabag at Rs 210.49 per share.

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