Author: Don Obrien

Stocks to watch: Airtel, Infosys, Ujjivan Small Finance Bank, Future Retail

Nifty futires on the SGX were down 26 points at 16,597 at 8.20 am, indicating a tepid start for the benchmark indices on Thursday.

Here are the top stocks to track in today’s session:

Bharti Airtel: The telecom operator said on Wednesday its board will meet on August 29 to consider various capital raising via equity or equity linked or debt instruments.

Bank of India: State-owned Bank of India on Wednesday approved the launch of QIP at a floor price of Rs 66.19 per equity share, and aimed at raising Rs 3,000 crore equity capital.

Airline stocks: Minister of Civil Aviation Jyotiraditya Scindia has reportedly written to 22 states and union territories to rationalise the Value Added Tax (VAT) on Aviation Turbine Fuel (ATF), a component accounting for nearly 40 per cent of an airline’s cost. The Minister has asked for VAT to be rationalised within the range of 1 to 4 per cent.

Board meetings: Adani Green’s Board will meet later today to consider and approve the fundraising plan while Affle (India’s) Board will consider and approve stock split.

Chemplast Sanmar: SBI Fund Management acquired 53.07 lakh equity shares in the company via open market transaction, increasing shareholding to 8.25 per cent from 4.89 per cent earlier. Mirae Asset Investment Managers (India) also bought 29.56 lakh equity shares in the company via open market transaction, raising stake to 6.84 per cent from 4.97 per cent earlier.

DLF: Rating agency Crisil has upgraded the company’s ratings on its Bank facilities. Long-term rating has been increased to AA-/Stable from A+/Stable, while short-term rating has been upgraded to A1+ from A1.

P&G Hygiene and Healthcare: The FMCG firm reported a 29.2 per cent YoY decline in its net profit at Rs 48.98 crore for the quarter ended June 2021. Board of Directors has recommended a final dividend of Rs 80 per share for the Financial Year ended June 30, 2021.

JSW Steel: The company’s wholly-owned indirect subsidiary JSW Steel USA Ohio is considering a proposal to raise long-term funds from the municipal bond market in the US.

Ujjivan Small Finance Bank: The lender announced the appointment of Carol Furtado as an ‘officer on special duty’ till September 30, and said she will take charge as the interim CEO from October. The move follows the resignation of the lender’s MD and CEO Nitin Chugh last week, who will stay with the bank till September 30.

Mangalore Chemicals and Fertilizers: The company will get term loans of Rs 280 crore from three banks for upgrading its ammonia plant.

Infosys: IT services major on Wednesday said it will set up a new digital development centre at its largest Canadian office in Mississauga, a move that will help in creating 500 high-quality jobs in the Toronto region over the next three years.

Future Retail: Sadashiv Nayak has been appointed as chief executive officer of with effect from Wednesday. Nayak has been associated with Future Group for over 17 years. In the last 8 years as the CEO of Big Bazaar, he has played a pivotal role in making Big Bazaar what it is today, the company said.

Power Grid: State-owned Power Grid Corporation of India has commissioned a 765 kV double circuit Vindhyachal-Varanasi transmission line, an official statement said on Wednesday.

Advik Laboratories: The company has cleared its entire outstanding loan with Indian Overseas Bank (IOB) pursuant to one-time settlement agreement entered into by the company with IOB.

Max Healthcare Institute: The company approved an additional investment of Rs 50 crore by way of subscription towards Rights Issue of equity shares of Alps Hospitals.

WABCO India: Offer for sale for non-retail investors got 233 per cent demand as compared to the shares on offer. Demand at indicative price of Rs 6,965.73 per share. The OFS opens for retail investors today.

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