Bharti Airtel, Vodafone Idea, SBI Life, Tata Steel Among Key Stocks in Focus Today

Indian stock markets were trading in the positive zone on Tuesday amid heavy buying in telecom stocks. At 10:51 am, the benchmark S&P BSE Sensex was trading at 40,401.88, up 117.70 points, or 0.29%, while the Nifty 50 index stood at 11,915.30, up 30.80 points, or 0.26%.

Bharti Airtel, Vodafone Idea, SBI Life, Tata Steel, Infosys and Sterling and Wilson were among the key stocks in news today. Read on to know more:

Bharti Airtel, Vodafone Idea: Bharti Airtel Ltd shares jumped over 6%, while those of Vodafone Idea Ltd surged over 21% after the two companies said they will increase tariffs effective 1 December 2019.

SBI Life: SBI Life Insurance Co. Ltd declined 7% on reports that PE firm Carlyle Group, which had acquired 9% stake in the company in March this year, is planning to sell 3% of the firm through the block deal route on Tuesday.

Tata Steel: Tata Steel Ltd shares fell 0.7% on reports that the company is planning to cut around 3,000 jobs across its European operations as it wrestles with excess supply.

Sterling and Wilson: Sterling and Wilson Solar Ltd shares was locked in 10% lower circuit. The company said no reduction was sought in the inter-company loan by the promoters from the company as mentioned in various media coverages.

Infosys: Infosys Ltd shares inched up 1% after COO UB Pravin Rao clarified to CNBC-TV18 that there were no structured layoffs in the company.

Zee Entertainment: Zee Entertainment Enterprises Ltd shares dropped 2.8% after Brickwork Ratings India downgraded credit rating for 6% Cumulative Redeemable Non-Convertible Preference Shares to AA+ (Credit Watch with Negative Implications) from AAA earlier.

Prestige Estates: Prestige Estates Projects Ltd shares climbed 4% after its subsidiary acquired 28.99% stake in DB Realtors Private Ltd.

PNB, Union Bank: Shares of Punjab National Bank (PNB) and Union Bank of India rose up to 2% after the two banks said they had received an in-principal approval from the government for their amalgamation with other public sector banks.