Stocks to watch: Bharti Airtel, Vodafone Idea, PNB, NTPC stocks to stay in focus on D-Street today

By: |
Updated: Aug 24, 2020 8:44 AM

Sensex and Nifty enter this week’s trading session on the back of 1.5% gain in the previous week but cautious keeping in mind the monthly F&O expiry.

Share Market Today, Share Market LiveGlobally, the availability of excess liquidity has helped foreign investors flush domestic markets with cash as equity markets witness over Rs 40,000 crore of inflows in the month of August.

Sensex and Nifty enter this week’s trading session on the back of  a 1.5% gain in the previous week, but cautious keeping in mind the monthly F&O expiry. Although market participants are convinced that the short-term trend for the 50-stock Nifty remains positive, they are advising to stay cautious. Midcap and Smallcap stocks are the talk of the street now as they outperform the benchmark indices on a regular basis in the past few weeks. Globally, the availability of excess liquidity has helped foreign investors flush domestic markets with cash as equity markets witness over Rs 40,000 crore of inflows in the month of August.

Telecom stocks: With the marathon AGR dues hearing to continue today, telecom operators like Vodafone Idea, Bharti Airtel will continue to stay in the focus and along with them take the banks that have exposure to the telcos. The Supreme Court is trying to establish who will pay the dues of bankrupt telcos undergoing or insolvency proceedings. 

The Phoenix Mills: The realty major informed the bourses that it has raised Rs 1,100 crore through a Qualified Institutional Placement. The Phoenix Mills said its Capital Raising Committee in a meeting approved the allotment of 1,81,81,818 Equity Shares of face value of Rs 2 each to qualified institutional buyers at the issue price of Rs 605 per Equity Share. Among the investors, the Government of Singapore picked up 40.91% of the total equity shares offered in the issue. 

Punjab National Bank: The lender reported a standalone net profit of Rs 308 crore for the April-June quarter. Provisions for bad loans increased by 100%. 

NTPC: NTPC enjoyed a comfortable gaining streak on the last two days of the previous trading week. The public sector entity informed the stock exchanges that it has received the approval from NITI Aayog, Government of India and Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India, for formation of a wholly owned subsidiary for NTPC Renewable Energy Business. 

ICICI Lombard: The company will acquire Bharti AXA General Insurance. The boards of both the companies have approved entering into definitive agreements for the demerger of Bharti AXA’s nonlife insurance business into ICICI Lombard through a Scheme of Arrangement. 

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Reserve Bank of India’s bond shopping could continue as banks return borrowed cash
2Cane crushing in Maharashtra to begin from October 15
3Strong line-up: Rally in markets sets IPOs on fire