New Delhi: The following stocks may remain in focus on Monday:
Reliance Industries: The Government of India has lost its appeal in an English High Court against $111 million arbitration award in favor of Reliance Industries Limited and Shell In cost recovery disputes in the western offshore Panna-Mukta and Tapti oil and gas fields.
Mahindra & MahindraAuto major Mahindra & Mahindra plans to set up new plant in Punjab’s Mohali as the world’s largest market witnessed a sharp 44% year-on-year jump in tractor demand in the first two months of 2022-23 Has been.
Coal IndiaState-owned miners have floated two medium-term tenders, seeking to import 6 million tons of coal in a move aimed at securing domestic fuel supply amid fears of shortage during monsoon. There is an option to increase the bid quantity by 100% to 1.2 million tonnes in these two tenders for a total of 6 million tonnes of coal. This follows another tender floated earlier to import 2.42 million tonnes of coal for July-September delivery.
LIC: The 30-day lock-in for anchor investors in the stock expires on Monday. Shares of Life Insurance Corporation of India (LIC) have fallen a quarter from its IPO price so far. Anchor investors, who collectively bought about 59.3 million shares a day before the IPO opened for subscription 949 each, can sell their shares in the open market from Monday.
Jindal Steel: Jindal Steel & Power Limited (JSPL) picking up 15,000 crore One of the largest corporate loan agreements in recent times, from a consortium of banks led by the State Bank of India (SBI). Jindal Steel Odisha Limited, a wholly owned entity of JSPL promoted by Naveen Jindal, is raising long-term debt, which will help it partially finance. 22,500 crore capacity expansion at Angul, Odisha, with parent JSPL bringing in the balance as equity. JSPL will also provide corporate guarantee for the loan.
BPCL: the government Bharat Petroleum Corp Ltd unlikely to restart disinvestment process (BPCL) this year due to volatility in the stock market and rising energy prices. The Department of Investment and Public Asset Management will focus on completing ongoing transactions before reconsidering privatization.
Shares of Adani GroupThe group is in talks with more than a dozen foreign banks to raise up to $4.5 billion through a mix of foreign debt instruments. The proceeds from the latest round of fundraising will be used for partial financing for the acquisition of Holcim’s stake in two Mumbai-listed cement companies – Ambuja Cements and ACC. Barclays, Deutsche Bank and Standard Chartered Bank had previously underwritten the entire funding line.
Vedanta Limited: Has forayed into overseas iron ore mining operations through its branch Western Cluster Limited, Liberia. WCL (Western Cluster Limited, Liberia) is a wholly owned branch of Bloom Fountain Limited (BFL) which is a wholly owned subsidiary of Vedanta Limited.
IIFL FinanceBritish International Investment plc (formerly known as CDC Group plc) has sold 16 million equity shares in the company through open market transactions. With this, its stake in the company has gone up from 7.77% to 3.56%. Max Life Insurance Company acquired 24.6 lakh equity shares in the company and Nomura India Investment Fund Mother Fund bought 44,74,548 shares at an average price. 325.1 per share.
Strides PharmaAccording to a US FDA report, the pharma company is recalling more than six lakh bottles of blood pressure lowering drug Losartan Potassium Tablets from the US market.