Stocks in news: The domestic equity market opened on a flat-to-positive note on Tuesday despite weak cues from the global markets. Idea Cellular, RInfra, Marico, IDBI Bank, GMR Infra to be top stocks in focus today.
The domestic equity market opened on a flat-to-positive note on Tuesday despite weak cues from the global markets. The rupee slumped to a fresh record low of 71.3325 against the US dollar in opening trade on Tuesday, Bloomberg data showed. Most Southeast Asian stock markets edged lower on Tuesday, in line with broader Asia, amid tensions around global trade and as emergency austerity measures in Argentina highlighted turbulence in emerging markets, said a Reuters report.
Stocks in news today: These are the top stocks that will be in focus on Sept 4, Tuesday
Idea Cellular: The telecom major has raised Rs 1,500 crore fund through non-convertible debentures on private placement basis — first debt after its incorporation. “the Securities Allotment Committee have at their meeting held today i.e. on September 3, 2018, allotted 15,000 unsecured redeemable non-convertible debentures aggregating to Rs 1,500 crore on private placement basis,” it said in a regulatory filing.
RInfra: Reliance Infrastructure has won a Rs 200 crore arbitration award against National Highway Authority of India (NHAI).
Marico: FMCG firm Marico is expecting a volume growth of 8-10% and double-digit constant currency growth in international business over the next 3 to 5 years on account of strategic investments, PTI reported quoting a top company official.
IDBI Bank: The LIC board will meet today to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51%, a move that will provide the insurance behemoth entry into the banking space.
GMR Infra: GMR Infrastructure has divested entire stake in four Indonesian coal mining entities through its step down subsidiaries. “…PTBSL Group entities have ceased to be subsidiaries of the company,” GMR Infrastructure said in a filing.
Reliance Power: Coastal Andhra Power Limited (CAPL), a subsidiary of Reliance Power Limited, has written a
letter to the Andhra Pradesh government requesting it to cancel the power purchase agreement (PPA) it had signed for its 4000 MW power project, a non-starter, at Krishnapatnam, said a PTI report.
Vedanta: Anil Agarwal-led Vedanta Resources looks to delist from London Stock Exchange on October 1, after the holders of 26% of shares have agreed to sell their stake to his family trust Volcan Investments.
L&T: Larsen & Toubro (L&T) Monday said its construction arm has won orders worth Rs 2,654 crore from Maharashtra State Road Development Corporation (MSRDC).
JSW Steel: JSW Steel plans to scale up the capacity of its manufacturing plant in Vijayanagar, Karnataka to 18 million tonnes per annum (MTPA), its chairman and managing director Sajjan Jindal told PTI.