RIL, SBI, Infosys, Bharti Airtel, Nazara Tech, Zee Entertainment, Tata Steel, Titan, textile stocks in focus

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October 07, 2021 8:15 AM

Stocks such as Reliance Industries, SBI, Infosys, Bharti Airtel, Nazara Technologies, Zee Entertainment Enterprises, Tata Steel, Titan, will remain in focus

RIL, SBI, Infosys, Bharti Airtel, Zee Ent, Tata Steel, Titan, textile stocks in focus(Image: REUTERS)

BSE Sensex and Nifty 50 were trading with nearly one per cent or 138.50 points gain at 17767 on Singaporean Exchange, on the day of weekly F&O expiry. In the previous session, investors became poorer by Rs 2,57,785.17 crore as headline came under heavy sell-off tracking weak global market. Investors will keenly watch the Reserve Bank of India’s three-day policy meeting, which began on Wednesday. “Domestic markets are expected to consolidate in a broad range following multiple global concerns and elevated valuations. It is likely to witness high volatility till some decision is reached over US debt ceiling over next two weeks. Even RBI’s MPC and TCS results, both due on Friday would add to the volatility,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.

Stocks to watch

Nazara Technologies: Nazara Technologies announced that its board has approved preferential allotment of fresh equity to raise Rs 315.30 crore from marquee institutional investors subject to the approval of the shareholders of the company and such regulatory/ statutory authorities as may be applicable.

Equitas SFB: Equitas Small Finance Bank (Equitas SFB) on Wednesday announced the launch of the ASBA facility on its internet banking, mobile banking and UPI interface for its customers. ASBA — applications supported by blocked amount — is a process required by stock market regulator Sebi for applying for IPOs and FPOs.

Zee Entertainment Enterprises: ZEEL on Wednesday moved the National Company Law Appellate Tribunal (NCLAT)seeking more time to file its reply with regard to the petition filed by its shareholder Invesco Developing Market Funds for convening the extraordinary general meeting of the company (EGM). The company has also sought stay of the proceedings at the National Company Law Tribunal, till the appellate tribunal gives its final order. The petition is expected to come up for hearing before the NCLAT on Thursday.

Titan Company: Tata group firm Titan on Wednesday said it has witnessed a strong recovery in demand in the July-September quarter, and its sales in most of its divisions have either reached above or close to pre-pandemic levels.

Reliance Industries, SBI, Infosys: Moody’s Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to ‘stable’ from ‘negative’.

Bharti Airtel RE: Blackrock India Equities Fund (Mauritius) sold 25.50 lakh equity shares of Bharti Airtel rights entitlement at Rs 207.67 per share on the NSE, the bulk deals data showed.

Tata Steel: Tata Steel on Wednesday reported a 7 per cent rise in consolidated steel output to 7.78 million tonnes (MT) for the July-September period this year. The company’s consolidated steel production was 7.25 MT in the same period last year, Tata Steel said in a statement.

Textile stocks: India’s high-potential but highly fragmented and underachieving textile industry will get a shot in the arm with the Union Cabinet approving a scheme of seven mega textiles-and-apparel parks, to be supported by both the Centre and the respective state governments.

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