Stocks to Watch: NBFCs, RIL, Concor, IOL Chemicals, M&M, Jet Airways, VIL

Stocks to Watch Today: The key benchmark indices are likely to start trade on an optimistic note, as the US markets logged back-to-back gains in the last two trading sessions lifting the global mood. As of 07:00 AM, the SGX Nifty futures quoted at 17,909, indicating a likely gap-up of around 60-odd points on the NSE benchmark this morning.

Meanwhile, here’s a list of stocks that are likely to see some action in trades on Friday.

NBFCs: Fitch has affirmed its ratings on for four non-banking finance companies to Shriram Transport Finance (‘BB’), Muthoot Finance (‘BB’), Manappuram Finance (‘BB-’) and IIFL Finance (‘B+’) and maintained stable outlook. READ MORE

Reliance Industries (RIL): The Mukesh Ambani-led firms telecom arm – Reliance Jio going is close to finalising its contract with telecom gear maker Ericsson to roll out its 5G network in Mumbai and Kolkata in the first phase of its launch in October. And with Nokia in the lucrative Delhi circle. READ MORE

Container Corporation of India (Concor): According to analysts, lack of clarity on new policy is likely to cap further upside on the stock. While the positive for the stock is progress on the divestment front, given announcement of a new policy, brokerages have taken a ‘neutral’ to ‘negative’ view due to the lack of clarity related to leasing of railway land for Gati Shakti terminals. READ FULL ANALYSIS

Mahindra and Mahindra (M&M): The auto major on Thursday unveiled its first electric sports utility vehicle (SUV) called ‘XUV400’, which is based on the company’s successful internal combustion engine-driven XUV300. The XUV400 will be competing with Nexon EV of Tata Motors. READ MORE

Vodafone Idea (VIL): The government will acquire a stake in debt-ridden Vodafone Idea after the stock price of the company stabilises at Rs 10 or above, according to an official source. The source said, there is a SEBI norm that the acquisition should take place at par value. READ MORE

Reliance Power: The company to raise Rs 933 crore through a private placement of shares to VFSI Holdings, an affiliate of investment firm Varde Partners. This would result in VFSI picking up a 15 per cent stake in the company.

Jet Airways: Ahead of its re-launch, the airline has been hit by three top-level resignations. The three senior executives who have resigned include Captains Niraj Chandan (head of flight safety), Vishesh Oberoi (head of operations) and Sorab Variava (head of training). However, the Jalan-Kalrock consortium (JKC), which is preparing to launch the airline downplayed the exits. READ MORE

IOL Chemicals and Pharmaceuticals: The Ludhiana-based bulk drug and chemical manufacturer, which has a one-third market share globally in painkiller drug ibuprofen active pharmaceutical ingredient (API), is looking to diversify its product basket to more than double its revenues in the next four years. READ MORE

Stocks in F&O ban: Delta Corp is the only stock in F&O ban period on Friday.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor