Stocks To Watch: RIL, Ashok Leyland, SBI, GHCL, Hero MotoCorp
Here are the stocks to watch in trade today...
India's stock benchmarks slipped further at closing on Friday, considerably paring all gains made in Thursday's session. The indices logged their worst weekly drop since January. The S&P BSE Sensex declined 2.87% to 57,107.15. The NSE Nifty 50 index also fell by 2.91% to 17,026.45.
Here are the stocks to watch in trade today:
Reliance Industries: Reliance Jio to increase tariffs. Price of the entry-level JioPhone plan will increase by 21.3% to Rs 91. Prices of unlimited voice bundles and data add-ons will increase by 20%. New tariffs will be effective from December 1, 2021.
SBI: RBI has imposed Rs 1 crore penalty on the bank. Penalty was levied after RBI's supervisory inspection of SBI's financial position as of March 2018 and March 2019. On supervisory inspection it was revealed that SBI, as pledgee, held stake higher than 30% in borrower companies. This is in contravention of Section 19 of the Banking Regulation Act.
Ashok Leyland: Vipin Sondhi will step down as Managing Director and Chief Executive Officer of the company with effect from December 31, 2021. Dheeraj Hinduja, chairman will take over as executive chairman with immediate effect.
Hero MotoCorp: The company’s Board of Directors have appointed former chairman of SBI, Rajnish Kumar as an independent non-executive director, Camille Tang as an independent non-executive director and Vasudha Dinodia as a non-executive director.
Salasar Techno Engineering: The company has secured orders worth Rs 170 crore from RITES.
GHCL: The company has signed a MoU with the Government of Tamil Nadu for investing Rs 500 crore in the state.
The Phoenix Mills: Crisil Ratings has revised its outlook on the long-term bank facilities of the company to stable from negative and reaffirmed the rating at A+.
Punjab Alkalies & Chemicals: Board to meet on December 2 to consider sub-division of face value of equity shares of the company.
Earnings Post Market Hours
Paytm Q2FY22 (Consolidated, YoY)
Net loss at Rs 473.5 crore Vs Rs 436.7 crore
Revenue from operations up 63.5% at Rs 1,086 crore Vs Rs 664 crore
Total direct expenses up 32% at Rs 825.7 crore Vs Rs 626.3 crore
Contribution profit at Rs 261 crore Vs Rs 37.7 crore
Bulk Deals
Meghmani Organics: DBS Nominees sold 46.10 lakh shares (1.81%) at Rs 82.15 per share. Abakkus Asset Manager LLP bought 27.41 lakh shares (1.08%) at Rs 82 per share.
Tarsons Products: Pacific Assets Trust Plc bought 6.14 lakh shares at Rs 751.80 per share. First Sentier Investors ICVC SI Indian Subcontinent Sustainability Fund bought 8.17 lakh shares at Rs 751.80 per share.
Welspun Corp: Capri Global Holdings bought 15 lakh shares (0.57%) at Rs 167.45 per share.
Who’s Meeting Whom
Cipla: To meet Capital Research Global Investors on November 29 and ENAM Asset Management Company on December 1.
Krsnaa Diagnostics: To meet Faering Capital and SBI Mutual Fund on November 29.
Max Healthcare Institute: To meet Motilal Oswal Financial Services on November 30.
Escorts: To meet ENAM Asset Management on November 30 and Axiom International on December 3.
Pidilite Industries: To meet Stewart Investors and Evli Group on December 2.
Trading Tweaks
Price Band Revised From 10% To 5%: Aurum Proptech, Jaiprakash Associates
Price Band Revised From 5% To 10%: Adani Power, Godawari Power and Ispat, Indian Metals & Ferro Alloys, Nitin Spinners
Move Out Of Short-Term ASM Framework: Thermax
Move Out Of ASM Framework: Himatsingka Seide, Gateway Distriparks, Tide Water Oil Company, OnMobile Global, Graphite India, HEG, HFCL, Securekloud Technologies