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Top stocks to watch: Bharti Airtel, Ashok Leyland, IL&FS, Canara Bank, Tata Power and others

Stocks in the news: Bharti Airtel, Ashok Leyland, IL&FS,Artson Engineering, Vaibhav Global, TTK Prestige, Canara Bank, Tata Power and other stocks will remain in focus on Thursday's trading session

twitter-logo BusinessToday.In        Last Updated: December 5, 2019  | 07:29 IST
Top stocks to watch: Bharti Airtel, Ashok Leyland, IL&FS, Canara Bank, Tata Power and others
Airtel announced on Wednesday that the company board has approved raising of funds amounting up to USD $3 billion in shares, bond issue

Here is a list of top stocks that are likely to be in focus on Thursday's trading session based on recent and latest news developments

Bank, Auto, Realty Stocks: Shares of the rate sensitive sectors including auto, bank and realty will remain in focus ahead of Reserve Bank of India's (RBI) monetary policy meeting outcome.

Ashok Leyland: The stock of truck and bus maker on Wednesday said it will suspend manufacturing at its various plants for up to 12 days this month in order to align its production with sales.

Bharti Airtel: The telecom major announced on Wednesday that the company board has approved raising of funds amounting up to USD $3 billion in shares, bond issue.

IL&FS: Crisis-hit Infrastructure Leasing & Financial Services (IL&FS) on Wednesday reported a standalone net loss of Rs 22,527 crore for the fiscal to March 2019, as against Rs 333 crore in the previous fiscal. The revenue fell sharply to Rs 824 crore from Rs 1,734 crore in the previous year.

UTI Asset Management Company IPO: UTI AMC will be selling up to 8.25% stake, representing 1,04,59,949 equity shares through an initial public offering (IPO) for divestment the stake held by State Bank of India (SBI). SBI Bank in its latest filing announced that,"Executive Committee of the Central Board of Directors (ECCB) of the Bank at its meeting held today has accorded final approval, for divestment of SBI stake in UTI AMC up to 8.25% through IPO by way of offer for sale of up to 1,04,59,949 equity shares, subject to the approval of the SEBI."

Cummins: Company has announced a Voluntary Retirement Program for its professional or exempt employees who have completed a minimum of 10 years of service and are above 45 years of age. This has been done with the objective of reducing headcount to manage the cost structure based on the business cycles.

Kesoram Industries: Kesoram Industries, a BK Birla Group company, has submitted the 'Scheme of Arrangement' issued by the National Company Law Tribunal, Kolkata bench for demerging its tyre business into Birla Tyres, effective from January 1, 2019.

Tata Power: Resurgent Power has acquired 75.01% equity stake and 27,00,00,000 Preference shares of Rs 10 each of Prayagraj Power Generation Company Limited. Tata Power International Pte. Limited (TPIPL) owns 26% stake in Resurgent Power and the balance 74% is held by ICICI Bank and other global investors.

TTK Prestige: India's largest kitchen appliance company in its latest filing, unveiled plans for 2020, aimed at increasing market share across geographies and getting back to double-digit growth in mature categories like pressure cookers. TTK Prestige also launched a new range of pressure cookers - Svachh Pressure Cookers for which a patent has already been applied.

Canara Bank: The lender has allotted 27.69 crore equity shares of the face value of Rs 10 each at an issue price of Rs 237.23 (including a premium of Rs 227.23) per share to Government of India, Promoter of the Bank, on a preferential basis.

Vaibhav Global Limited: Company announced the completion of Buyback of its equity shares from the open market through the stock exchange mechanism. Bought back 8.65 lakh equity shares at an average price of Rs 831.72 per equity share, totaling to Rs 72 crore.

Artson Engineering Ltd: The engineering firm announced that it received orders worth Rs 6.30 crores from Tata Projects Limited for Project Management and Erection Work for ASRS System at Kapurthala. The duration of the order is 10 months.

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