Stocks in focus: Route Mobile, HDFC Bank, Bharti Airtel, Vodafone Idea, IOCL, Reliance Capital

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September 22, 2020 8:55 AM

Investors will keenly track stock-specific actions, developments around India-China border tensions, trends in COVID-19 cases, crude oil price and rupee's trajectory.

RIL, TCS, stocks in focusThe banking index was higher by 6.5% this week, outperforming Nifty’s gains.

Nifty Futures were trading 65.65 points or 0.58 per cent higher at 11,291.80 on Singaporean Exchange, indicating a positive opening for the BSE Sensex and Nifty 50 on Tuesday, despite weak global cues. Investors will keenly track stock-specific actions, developments around India-China border tensions, trends in COVID-19 cases, crude oil price and rupee’s trajectory. The Indian Express, along with 109 media organisations teamed up with the International Consortium of Investigative Journalists (ICIJ) and BuzzFeed News to trace the Indian entities and banks named in the SARs filed with FinCEN between 1999 and 2017. Market participants will keep tabs on two ongoing IPOs, which will close for subscription on September 23.

Stocks in focus today:

Route Mobile: Shares of the debutant Route Mobile were picked up by Goldman Sachs India Fund, Goldman Sachs Trust Emerging Markets Equity Fund, GS FDS Sicav GS Global, and Kuwait Investment Authority through bulk deals. After opening at a premium of 105 per cent at Rs 717 over IPO issue price, Route Mobile shares settled at Rs 651.30 apiece on NSE.

HDFC Bank: HDFC Bank on Monday issued a statement in response to the lawsuits filed against it by multiple law firms in the US, denying the allegations made therein. The bank said that the litigant was a single security holder, who was purporting to represent a class of its shareholders.

Bharti Airtel, Vodafone Idea: Telecom operators, including Bharti Airtel and Vodafone Idea, which have pending adjusted gross revenue dues will have to pay 10 per cent of the total liability by March 31 irrespective of the part-payments made by them, PTI reported government sources as saying.

Indian Oil Corporation: IOCL will invest Rs 17,825 crore in its Gujarat refinery to boost its capacity to produce petrochemicals, the company said on Monday. The Gujarat refinery upgrade is expected to be completed in 42 months.

Reliance Capital: Anil Ambani-led Reliance Capital, which recently defaulted on repayments to its debenture holders and other creditors, has begun the process for monetisation of its assets, PTI cited market sources as saying. The key assets of Reliance Capital include Reliance Securities, Reliance Health and Reliance General Insurance Company.

GMM Pfaudler: Promoters Pfaudler Inc., Millars Machinery Company Pvt Ltd and Urmi Patel have planned to sell up to 28 per cent stake in the company through an offer for sale (OFS) over Tuesday and Wednesday. The floor price for the OFS has been fixed at Rs 3,500 per sale share.

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