New Delhi – Here’s a list of the top 10 stocks that may be in focus on Tuesday:
Public sector units: The government of India has asked at least eight state-owned companies to consider share buybacks this fiscal year as it looks for ways to raise funds to control the fiscal deficit, Reuters reported citing sources. Requested companies include mining company Coal India, electric power company NTPC, mineral producer NMDC, and Engineers India Ltd.
Hindustan copper: The Center may consider the strategic sale of Hindustan Copper Limited, in an attempt to meet the ambitious divestment target of ₹2.1 trillion for 2020-21. NITI Aayog VP Rajiv Kumar will chair a meeting on October 27 to discuss the possibility of a strategic divestment from Hindustan Copper, Business Standard reported.
Maruti Suzuki: You are considering a number of steps to improve the finances of your struggling dealerships, including increasing their profit margins and ensuring they have access to bank credit. The nation’s largest automaker is likely to increase dealership margin on cars after the festival season to help dealerships at a time when sales are likely to be subdued.
L&T: Likely to emerge as the lowest bidder for civil works design and construction for 47% of the Mumbai-Ahmedabad high-speed rail corridor alignment. Three bidders had participated in the auction. Non-L&T bidders were the Afcons Infrastructure-IRCON International-JMC Projects India consortium and the Tata Projects-NCC-J Kumar Infra Projects-HSR consortium.
BPCL: The deadline for the oil company’s privatization tender will not be extended for the fifth time as the government’s strategic divestment program that was hit by the pandemic is back on track, the Press Trust of India reported citing the DIPAM secretary . The current deadline is November 16.
Mahindra GroupBrookfield, the Canada Pension Plan Investment Board (CPPIB), the National Infrastructure and Investment Fund (IFRS), and the Edelweiss Yield Plus Infrastructure Fund are among half a dozen investors in discussions to acquire nearly 600 megawatts ( MW) of solar renewable energy assets of the Mahindra business group, Mahindra Susten.
IL&FS: The Financial Services and Infrastructure Leasing (IL&FS) group announced on Monday Vineet Nayyar’s resignation as executive vice president. Nayyar, who resigned due to health problems, asked the board of directors led by Uday Kotak to relieve him of his duties as of October 31, which the board has accepted.
ITC: Raw Pressery, known for its premium cold-pressed juices, is in talks with several consumer packaged goods companies, including ITC, to divest stakes or hire a strategic investor for the juice division, the Economic Times reported citing sources .
Adani Companies: Kerala’s high court allowed billionaire Gautam Adani on Monday to operate Thiruvananthapuram airport, rejecting the state government’s claim that privatization was not in the public interest. In February 2019, Adani Enterprises Ltd had won the rights to operate six airports, including the one in Thiruvananthapuram, in an auction conducted by the Airports Authority of India.
Coal India: Coal India’s supply of coal to the energy sector fell 10% to 197.89 million tonnes in the first half of this fiscal year. Coal India had supplied 219.85 MT of coal during April-September of the previous fiscal year.
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