Stocks To Watch: Bharti Airtel, DHFL, IDBI Bank, Nestle, Titan, UltraTech Cement, Vodafone Idea

Here are the stocks to watch in today’s trade.

• IDBI Bank has entered into a share purchase agreement with Muthoot Finance to its entire stake of 66.67 percent in IDBI Asset Management and entire 100 percent stake in IDBI MF Trustee Company for Rs 215 crore. The transaction is proposed to be completed by the end February 2020. Under the agreement, the bank and its arm IDBI Capital Markets & Securities have also agreed to sell its entire stake of 33.33 percent in IDBI Asset Management.
• State Bank of India: Board approved allotment of bonds aggregating to Rs 3813.6 crore.
• Bharti Airtel, Vodafone Idea filed review petitions on top court fees ruling, according to Bloomberg report.
• RITES offer for sale to non-retail investors sees 111 percent demand. Government to exercise over-subscription option and to sell up to 11.07 percent stake via offer for sale, according to Bloomberg report.
• DHFL said that Vaijinath M Gavarshetty has assumed his office as CEO of the Company with effect from Nov. 21 by reporting to R Subramaniakumar, the Administrator appointed by RBI. Board Meeting for quarterly results has been postponed from Nov. 25.
• Kridhan Infra’s Singapore arm has received a written order for its liquidation by the regulatory authorities. The company stated that is has already fully impaired its investments and loans in its standalone financials.
• Punjab & Sind Bank has allotted 9.9 crore shares aggregating to Rs 787 crore to the Government of India.
• Unichem Laboratories received an abbreviated new drug application approval for Atenolol Tablets from U.S. FDA. These tablets are used for treatment of hyper-tension and will be commercialised from company’s Ghaziabad plant.
• Shoppers Stop has opened a new store in Navi Mumbai. The company now has 85 stores.
• Vodafone Idea: Care Ratings has downgraded its rating for long-term bank facilities, NCDs from BBB- to A-. The downgrade is on account of significant erosion in the overall risk profile of the company while taking into cognisance of the financial impact of unfavourable ruling of Supreme Court, significant losses in Q2FY20 due to provision related to AGR dues, recognition of deferred assets and provision for additional depreciation/impairment of assets and consequently resulting in the significant deterioration in the tangible net worth and overall debt protection metrics. Crisil downgraded NCDs rating to BBB- from BBB+.
• Ashapura Minechem has entered into a rupee denominated secured term loan agreement of Rs 78 crore with Elara Finance for repayment of existing obligations of banks/financial institutions.
• Power Grid Corporation of India declared successful bidder into two intra-state transmission projects in Uttar Pradesh.
• Nestle India to consider interim dividend on Dec. 11.
• ARSS Infra Projects has received work order worth Rs 45.8 crore for construction of a road and bridge in Sonepur.

Offerings

• CSB Bank IPO fully subscribed on day 1 with with retail portion oversubscribed over five times.

Telecom Q2FY20 Data

• Reliance Jio’s revenue market share increased by 353 basis points to 35.2 percent on the back of strong subscriber additions.
• Bharti Airtel’s revenue market share increased by 70 basis points to 30.6 percent on the back of increase in data subscribers, stable ARPU and lower customer churn
• Vodafone Idea’s revenue market share fell by 70 basis points to 27.3 percent on the back of higher customer churn and lowest ARPU in the industry
• BSNL’s revenue market share dropped by 350 basis points to 4.9 percent on the back of sharp 71-percent drop in national long-distance revenues