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Stock in news: Reliance, Airtel, ONGC, Hero MotoCorp, Rail Vikas Nigam, Tata Motors

Shares of Reliance Industries, Bharti Airtel, ONGC, Hero MotoCorp, Rail Vikas Nigam, JK Tyre and Industries, Suzlon, Tata Motors will be in focus in Wednesday's trading session

twitter-logoBusinessToday.In | March 24, 2021 | Updated 08:57 IST
Stock in news: Reliance, Airtel, ONGC, Hero MotoCorp, Rail Vikas Nigam, Tata Motors
Stocks to watch today: Reliance Industries, Bharti Airtel, ONGC, Hero MotoCorp, Rail Vikas Nigam, JK Tyre and Industries, Suzlon, Tata Motors

The Indian stock market, Sensex and Nifty, are expected to open lower on Wednesday, tracking weak global cues and muted trading at Nifty futures on the Singapore Exchange. Among the individual stocks, shares of Reliance Industries, Bharti Airtel, ONGC, Hero MotoCorp, Rail Vikas Nigam, JK Tyre and Industries, Suzlon, Tata Motors will be in focus in Wednesday's trading session.

Also read: Share Market LIVE Updates: Sensex, Nifty seen opening lower; RIL, Airtel, IDBI Bank, Hero MotoCorp, ONGC in focus

Stocks to watch today: Here is a list of top stocks that are likely to be in focus.

Reliance Industries: Shares of Reliance Industries Ltd (RIL) will be in focus on Wednesday amid report that Saudi Aramco was in discussion with Mukesh Ambani-led firm for a potential deal to buy a 20 per cent stake in its oil-to-chemical (O2C) unit. RIL had in August 2019 announced talks for the sale of 20 per cent stake in the O2C business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world's largest oil exporter. The deal was to conclude by March 2020 but has been delayed.

Bharti Airtel: The Sunil Bharti Mittal-led firm has said it will acquire an additional 3.3 per cent stake in special purpose vehicle Avaada MHBuldhana that has been formed for owning and operating a captive power plant. Bharti Airtel has earlier acquired 5.2 per cent stake in Avaada MHBuldhana for Rs 4.55 crore in an all-cash deal. In a separate development, the special panel of directors' of the company has approved allotment of 36.4 million equity shares on a preferential basis to Warburg Pincus affiliate at Rs 600 issue price, as partial consideration towards Bharti Telemedia deal.

Banking stocks: Banking stocks will be eyed as the government on Tuesday informed Parliament that non-performing assets of banks fell to Rs 5.70 lakh crore in December 2020 and the recovered amount stood at Rs 2.74 lakh crore on the back of preventive measures taken by the government.

Oil and Natural Gas Corporation (ONGC): State-owned ONGC is likely to hike gas price marginally to $1.82 next week while the same for difficult fields like one operated by Reliance-BP may fall below $4, as per PTI report. The price of gas, which is used to generate electricity, make fertiliser and convert into CNG for automobiles and cooking gas for households, is due to bi-annual revision next week.

Hero MotoCorp: Hero MotoCorp on Tuesday said it will raise the ex-showroom prices of its motorcycles and scooters by up to Rs 2,500, with effect from April 1, 2021, in order to partially offset the impact of higher commodity costs. The exact quantum of the increase will vary on the basis of the model and the specific market.

Rail Vikas Nigam: Rail Vikas Nigam, an organisation associated with Indian Railways, will in focus today as government has proposed to sell 15 per cent stake in state-owned unit via offer for sale to raise around Rs 755 crore. The floor price has fixed at Rs 27.50 a share, 9.54 per cent discount from Tuesday's closing price.

JK Tyre and Industries Ltd: India Ratings and Research has upgraded its long-term issuer rating to JK Tyre and Industries to 'IND A' with stable outlook, citing recovery in sales and strong financial performance in the December quarter.

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