Stocks to Watch: Future, Airtel, ITC, Tata Motors - Mint
Here is the list of the top 10 stocks that are likely to be in focus on Monday:
Future Group: The Competition Commission of India (CCI) on Friday kept Amazon group’s 2019 purchase of 49% stake in a Future group entity in abeyance and ordered a penalty of ₹202 crore for allegedly not being upfront about the actual scope and purpose of the deal. CCI referred to various agreements between the entities of Amazon and the Future group and said that Amazon allegedly failed to notify certain shareholder agreements and commercial arrangements involving Future group as part of the combination between the parties and allegedly suppressed the actual purpose and particulars of the deal.
Bharti Airtel: Telecom provider Bharti Airtel, today said that it has paid Rs15,519 crores to the Department of Telecom (Government of India) towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auction of year 2014. The company had acquired 128.4 MHz spectrum (including Telenor spectrum) for consideration of ₹19,051 crores in the 2014 auction.
Tata Motors: Tata Motors and Maharashtra government has joined hands to support setting up of a registered vehicle scrapping facility (RVSF) in the state, the company said on Friday. A memorandum of understanding (MoU) was signed by the auto major and the state government to help set up the scrappage centre with a recycling capacity of up to 35,000 vehicles a year for end-of-life passenger and commercial vehicles.
ITC: ITC Ltd has bought 8.70% equity stake in D2C Ayurvedic and natural personal care brand Mother Sparsh Baby Care, the company said on Saturday. The Kolkata-headquartered company on November 26 said that it would acquire 16% stake in Mother Sparsh through a share subscription agreement.
Cipla: Cipla Limited and its subsidiary Cipla USA, Inc, has received final approval for its Lanreotide Injection from the United States Food and Drug Administration (US FDA). The FDA approval was based on a new drug application (NDA) submitted under the 505(b)(2) filing pathway, the company said in a stock exchange filing.
Hero MotoCorp: The world’s largest manufacturer of motorcycles and scooters, has launched a special Retail Finance Carnival offering retail finance schemes through Hero MotoCorp’s finance partners. Through this initiative, the company also aims to promote accessibility, availability, awareness and innovation in retail finance for customers across segments. The Retail Finance Carnival will go on till the December 31, 2021.
ONGC: India's top oil and gas producer ONGC has scripted a sharp turnaround in fortunes of its subsidiaries with its petrochemical unit reporting its first ever profit, a top official said. ONGC Petro additions Ltd (OPaL), the venture ONGC floated for downward integration and expansion into petrochemical field by utilizing its naphtha stream from Hazira and Uran and C2+ components from imported LNG, has been steadily seeing operational profit or EBITDA improvement since 2016-17 but the lopsided capital structure with high-debt servicing cost and high depreciation during the initial period of capitalisation led to incurring net losses.
Infosys: Ministry of Electronics and IT in an official statement announced that CSC e-Governance Services India and Infosys have come together to upskill six crore Indian students of the age 10 to 22 years based in the rural section of the country.
Jet Airways: Jet Airways (India) Ltd will restart operations at the earliest with six narrow-body planes in 2022 after the revalidation of its air operator permit, the airline’s new owners said. In a statement, the Jalan-Kalrock consortium, comprising British investor Kalrock Capital Management and UAE-based entrepreneur Murari Lal Jalan, said it has moved the National Company Law Tribunal (NCLT) to fast-track the implementation of its resolution plan.
EKI Energy: Carbon Credit Developer and Supplier, EKI Energy Services Limited, and Shell Overseas Investments BV, a unit of Royal Dutch Shell plc., on Friday agreed to set up a joint venture to work on nature-based solutions in India. The joint venture will work on the conservation, enhancement and restoration of natural ecosystems, a company statement said.
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