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Stocks in news: JK Tyre, Muthoot Finance, Vodafone Idea, M&M Financial and more

Stocks to watch out for on April 9: JK Tyre, Muthoot Finance, Vodafone Idea, M&M Financial, Srei Equipment Finance and more

twitter-logoBusinessToday.In | April 9, 2021 | Updated 09:38 IST
Stocks in news: JK Tyre, Muthoot Finance, Vodafone Idea, M&M Financial and more
Stocks to watch today: JK Tyre, Muthoot Finance, Vodafone Idea, M&M Financial and more

Sensex and Nifty are likely to open flat today amid mixed global cues.  Nifty futures were trading 13.50 points or 0.09 per cent down at 14,932.50 on Singaporean Exchange, suggesting a weak start for the Indian benchmark indices.  On Thursday, benchmark indices ended higher in choppy trade as rising coronavirus cases and restrictions across the country kept investors on the edge. Sensex closed 84.45 points higher at 49,661 and Nifty gained 54 points to 14,873. Top Sensex gainers were UltraTech Cement, Titan, Tech Mahindra, Nestle India, TCS, Bajaj Finserv and L&T rallying up to 4.24 per cent.

Here's a look at stocks that are likely to be in news today.

JK Tyre Industries: India Ratings and Research has assigned a long-term issuer rating 'IND A- / Stable' to Cavendish Industries Ltd, a unit of JK Tyre and Industries Ltd.

Muthoot Finance: The gold loan non-banking financial company has launched its 25th issue of secured public non-convertible debentures (NCDs) and plans to raise up to Rs 1,700 crore through the issue. The NCD is offering a yield in the range of 6.60% to 8.25% per annum.

Vodafone Idea: The telco has launched internet of things (IoT) solutions comprising connectivity, hardware, network, application, analytics, security and support for enterprises that seek to digitise their businesses.

Escorts Finance: The company has agreed to transfer its entire shareholding of 10.81% in Escorts Securities to Choice International unit Choice Equity Broking, Escorts Finance said.

Srei Equipment Finance: The company's unit Srei Equipment Finance has received expression of interest for up to $250 million capital infusion from private equity funds, namely, US-based Arena Investors LP and Singapore's Makara Capital Partners, Srei Equipment Finance.

Mahindra and Mahindra Financial: Life Insurance Corporation of India (LIC) has increased its stake in Mahindra and Mahindra Financial Services Ltd by acquiring 12 lakh shares in the company. The insurer acquired 12 lakh shares, representing 0.097 per cent stake, of Mahindra Finance through open market transactions, LIC said.

JSW Steel: The company said it clocked crude steel output of 4.19 million tonnes in Q4FY21, a rise of 2% quarter-on-quarter and 6% year-on-year. The company's average capacity utilisation rose from 91% in Q3FY21 to 93% for Q4FY21. However, the capacity utilisation during the month of March 2021 was 96%.

Infosys: The IT firm said ArcelorMittal has chosen it to help accelerate the companys digital transformation journey and enable next- generation application management and business process management (BPM) services for ArcelorMittal Europe.

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