From RIL to Tata Group: A Look at the Stocks in Focus Today
File photo of a TATA Group office.
The S&P BSE Sensex moved up 140 points to 41,480, while the Nifty50 index topped the 12,150-mark today. More than 200 companies, including ITC, Cipla, Ashok Leyland, and Bank of India are expected to announce quarterly earnings today. Here are some stocks which you should look out for before investing on Friday.
Reliance Industries Ltd (RIL): Saudi Arabia’s Public Investment Fund is going to put in Rs 9,555 crore for a little over two per cent stake in the company’s retail unit. On the other hand, Securities Appellate Tribunal (SAT) has dealt a blow to Reliance Industries Ltd (RIL) by upholding the Sebi order. The market regulator had directed the company to pay Rs 447 crore, along with 12 per cent interest, for receiving alleged unlawful gains in securities trading.
NBFCs: Non-Banking Financial Companies will also be able to provide loans to priority sector borrowers based on a prior agreement. The Reserve Bank of India has introduced a Co-Lending Model (CLM) under which banks along with NBFCs can extend loans to the priority sector.
Maruti Suzuki: The parent company of Maruti Suzuki has predicted double-digit fall in net profit and revenue for this current fiscal. Its sales declined during the June quarter in India and Japan due the COVID-19 situation, which had brought the economy to a grinding halt. Maruti Suzuki is unlikely to recover the lost sales.
Bank stocks: The lending by banks has increased in the festive season. However, it is nearly half of what it was at this time in the last year. Banks like State Bank of India and HDFC witnessed demand for housing and vehicle loans return to pre-COVID levels in the second quarter.
Tata group: Tata group’s consumer durables and electronics retail arm under the brand Croma, Infiniti Retail, has been ordered by National Anti-profiteering Authority to pay Rs 1.9 crore for allegedly making profits from sales of cameras and power banks after the GST rate was reduced last year.
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