NEW DELHI: Here are the top 10 stocks that could be targeted on Friday:
Trust Industries: Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) joint bid for indebted Sintex Industries has been submitted for NCLT approval after being unanimously approved by the company’s lenders.
Axis Bank: The Securities and Exchange Board of India on Thursday imposed a fine of ₹5 lakh on Axis Bank Ltd for breaching the Merchant Bankers Regulations while handling certain government debt sales. The cases date from the period 2016-2019, when the lender processed debt issuances from 22 companies and acquired securities in nine public debt issuances from the entities, but did not make a disclosure.
Kotak Mahindra Bank: Canada Pension Plan and Investment Board sold 4 crores of Kotak Mahindra Bank shares worth approx. ₹6,800 crore. According to BSE wholesale trading data, the pension fund sold the shares at an average of ₹1,700.10 each. Separately, the University of California Regents purchased 1,12,27,404 shares of the private sector lender at an average of ₹1,699.05 per share
Petroleum Marketing Companies (OMC): Petrol and diesel prices increased by 80 paise a liter each on Friday, the third increase in four days. Meanwhile, India’s major fuel retailers CIO, BPCL and HPLC together lost about $2.25 billion in revenue between November and March by keeping gasoline and diesel prices unchanged despite a sharp rise in global crude oil prices.
Future businesses: Is in default of payment of ₹93.99 crores to Punjab National Bank and Canara Bank under the One-Time Restructuring Plan (OTR). The payment deadline was March 23. The Companies of the Future is part of the ₹24,713 crore deal announced by Future Group in 2020, under which 19 businesses operating in retail, wholesale, logistics and warehousing will be sold to Reliance Retail.
IndusInd Bank: The private sector lender has agreed to sell its ₹247 million capital loans of Retail of the future and Asian Hotels (North) Ltd to Edelweiss Asset Reconstruction Company for ₹195 crore. The bank had solicited bids for a ₹A secured principal loan of 142 crore granted to Kishore Biyani promoted Future Retail and ₹Principal loan of 105 crore given to Asian Hotel Delhi on 15:85 basis.
Bharti Airtel: The telecommunications major will not buy 5G network equipment from Chinese suppliers and will instead use equipment from European suppliers such as Nokia and Ericsson, as well as openRAN-based 5G network provider Mavenir, among others . Airtel may also consider taking 100 MHz of 5G spectrum if affordable, but will be open to a lower quantum of waves if prices are high.
National Bank of Punjab: Public sector lender Punjab National Bank has acquired a nearly 6% stake in public digital e-commerce platform ONDC for ₹10 crore. Open Network for Digital Commerce (ONDC) is an initiative of the Department of Commerce to promote open networks for all aspects of the exchange of goods and services over digital networks.
Tata Consumer Products: The company’s board of directors will meet on March 29 to consider fundraising by preferential sale of shares. Tata Group company plans to issue preference shares equivalent to 1.5% of its paid-up share capital to an overseas buyer
Exide Industries: Subsidiary Chloride Metals has started commercial production at its new battery recycling manufacturing unit in Haldia, West Bengal. The total installed capacity of the plant is 108,000 MT per year.
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