Stocks in focus: Reliance Industries, Vodafone Idea, Future Retail, IndiGo, Infosys, Simbhaoli Sugars

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September 4, 2020 9:09 AM

A total of 68 companies including National Aluminium Company, Future Retail, Goodyear India, Jubilant Life Sciences, RattanIndia Power and Simbhaoli Sugars, are scheduled to announce their quarterly earnings.

RIL, vodafone idea, stocks in focusThere are no positive domestic triggers to boost sentiments thus we suggest continuing with a cautious approach

A sharp sell-off is likely on cards for Indian share market as SGX Nifty slipped 1.23 per cent or 142.60 points down to trade at 11,407.50 on Friday. In the overnight trade on Wall Street, US stock indices registered deepest one-day decline after Nasdaq fell up to 5 per cent. The Dow Jones Industrial Average fell 2.78 per cent while the S&P 500 lost 3.51 per cent. Asian stock markets too fell in the early trade on Friday. “There are no positive domestic triggers to boost sentiments thus we suggest continuing with a cautious approach and keeping a close watch on the lingering broader tension between India and China for cues,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Reliance Industries: Silver Lake is in talks to invest about $100 crore in Mukesh Ambani’s Reliance Retail at a valuation of roughly $5,700 crore as the Silicon Valley private equity group seeks to deepen its ties with India’s richest man, Financial Times cited people with direct knowledge of the matter.

Vodafone Idea: Vodafone Idea’s board is scheduled to meet on September 4 to consider fundraising in one or more tranches by way of a public issue, preferential allotment, private placement, including a qualified institutions placement or through any other permissible mode.

Future Retail, Simbhaoli Sugars: A total of 68 companies including National Aluminium Company, Future Retail, Goodyear India, Jubilant Life Sciences, NLC India, Repco Home Finance, RattanIndia Infrastructure, RattanIndia Power and Simbhaoli Sugars, are scheduled to announce their quarterly earnings.

IndiGo: InterGlobe Aviation is aiming to gradually expand its flight operations and reach the pre-COVID-19 full capacity by the end of 2020-21 financial year, its president Wolfgang Prock-Schauer said on Thursday, adding that passenger and corporate bookings are bouncing back, according to a PTI report.

Infosys: Infosys on Thursday said it will acquire US-based product design and development firm Kaleidoscope Innovation for up to USD 42 million (about Rs 308 crore). Kaleidoscope Innovation is a full-spectrum product design, development and insights firm innovating across medical, consumer and industrial markets.

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