Zee Entertainment, Bharti Airtel, Ami Organics, Poonawalla Fincorp, banking stocks in focus

By: |
September 17, 2021 8:34 AM

Nifty futures were trading half a per cent or 88 points higher at 17693.50 on Singaporean Exchange, suggesting a record high opening for BSE Sensex and Nifty 50

Zee Entertainment, Bharti Airtel, Ami Organics, Poonawalla Fincorp, banking stocks in focusAnalysts say that the market might be volatile on account of fragile global cues, on worry over slower economic growth and rising Delta variant cases globally. Image: Pixabay

Nifty futures were trading half a per cent or 88 points higher at 17693.50 on Singaporean Exchange, suggesting a record high opening for BSE Sensex and Nifty 50. In today’s session, Nifty may test 17700 levels. Analysts say that the market might be volatile on account of fragile global cues, worry over slower economic growth, and rising Delta variant cases globally. “Investors are cautious ahead of next week’s Federal Reserve meeting, awaiting indications on when the central bank will start withdrawing its monetary stimulus and start raising interest rates eventually. Valuations too are rich and hence could lead to bouts of profit booking,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. said.

Stocks to watch

ZEEL: The board of ZEE Entertainment Enterprises has decided to support its two former non-executive directors against whom corporate governance issues have been raised. The board also refuted allegations made by proxy advisory firms.

Bharti Airtel: Telecom dispute appellate body TDSAT on Thursday stayed the telecom department’s demand of Rs 1,376 crore from Bharti Airtel in unpaid past dues that defunct telco Videocon Telecommunications owed.

Banking stocks: Finance Minister Nirmala Sitharaman announced the Union Cabinet’s approval for a government guarantee of Rs 30,600 crore for securities receipts issued by the National Asset Reconstruction Company (NARCL).

Ami Organics: Company’s shareholding pattern post IPO showed that promoters held 41.05 per cent stake and the remaining is held by public shareholders including Plutus Wealth Management LLP (1.44 per cent), Malabar India Fund (2 per cent) and SBI MF (1.12 per cent).

Poonawalla Fincorp: Managing director of Poonawalla Fincorp Abhay Bhutada resigned on Thursday, a day after being barred from the securities markets by Sebi for alleged insider trading. Bhutada has resigned from the board with effect from September 16, 2021, Poonawalla Fincorp said in a statement. Vijay Deshwal, CEO of Poonawalla Fincorp, will run the operations, the statement added.

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