Stocks in the news: Future Retail, RIL, Easy Trip Planners, Bharti Airtel, Adani Green
Domestic stock market Sensex and Nifty are expected to open lower on Friday following weak global signals and negative trading in Nifty futures on the Singapore Stock Exchange. Among individual stocks, shares of Future Retail, Reliance Industries, Easy Trip Planners, Automotive stocks, Bharti Airtel, GAIL India, Edelweiss Financial Services, Adani Green Energy will be the focus of today’s trading session.
Stocks to watch today: Here is a list of the top stocks that are likely to be the focus of Friday’s trading session.
Future Retail, Reliance Industries: The Delhi High Court has upheld the Singapore International Arbitration Center’s order barring Future Retail from continuing its deal with Reliance Retail. Singapore’s Emergency Arbitrator (EA) had upheld the Rs 24,713 crore takeover deal against a plea from global retailer Amazon.
Easy Trip Planners: Shares of Easy Trip Planners are set to make their stock market debut today. The online travel company’s Rs 510 crore IPO was subscribed 160 times, while the quota for non-institutional investors was subscribed 384 times. The price range for the issue was 186 to 187 rupees per share.
Automotive stocks: Carmakers’ actions will be watched as the government has announced that commercial vehicles over 15 years old and passenger vehicles over 20 years old will have to be scrapped if they fail to pass fitness and emissions.
Bharti Airtel: The telecommunications major said The Rise Fund, owned by TPG, will invest $200 million in Airtel Mobile Commerce (AMC) BV, the mobile money business of Airtel’s Africa unit.
GAIL India: The government-owned oil and gas company has signed a concession agreement with Ranchi Municipal Corporation for the establishment of a compressed biogas plant in Ranchi.
Edelweiss financial services: The Ministry of Corporate Affairs (MCA) has ordered an investigation into the books of Edelweiss Asset Reconstruction Company, part of Edelweiss Financial Services, after a whistleblower complaint of embezzlement and irregularities. The company clarified that Edelweiss Asset Reconstruction Company did not receive any notification of an inspection conducted by the MCA.
Adani green energy: The billionaire Gautam Adani-led company has raised $1.35 billion in debt from 12 banks for its renewable energy projects under construction through definitive agreements signed with a group of 12 international lenders. The 12 international banks that will provide loans are Standard Chartered Bank, Intesa Sanpaolo SpA, MUFG Bank, Sumitomo Mitsui Banking Corporation, Cooperatieve Rabobank UA, DBS Bank, Mizuho Bank, BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank SA