Here is a list of top ten stocks that may be in focus on Tuesday
RIL: India’s only profitable telecom operator Reliance Jio Infocomm Ltd, owned by Reliance Industries Ltd, on Monday announced a new year offer, with deals for mobile recharges and handsets. Under the offer, the existing subscribers will get 1.5 GB data per day, unlimited voice calls, SMS for a recharge of ₹2020, with validity for a year. The scheme also offers a plan, where for ₹2020, a user can buy a JioPhone bundled with 12 months of services — 0.5 GB data per day and unlimited voice calls, SMS.
Bharti Infratel: The board of the company will meet today and is likely to take a decision on a second extension for the long stop date in order for the companies to secure the approval of the government and complete its merger with Indus Towers Ltd. The merger, announced in April 2018, has been delayed due to lack of a key FDI enhancement not coming in from the Centre. Shares of Bharti Infratel parent Bharti Airtel’s Ltd’s may also be in focus today.
Glenmark Pharma: The drug maker on Monday signed a sub-licensing agreement with Mankind Pharmaceuticals Ltd to co-market anti-diabetes drug remogliflozin etabonate in India. Under the agreement, Mankind Pharma will market remogliflozin as its own trademark while Glenmark will manufacture and supply the drug to the company. Mankind Pharma did not give details of the brand under which it will launch the medicine.
Hindalco: The mining company, after market hours on Monday, said it has restarted the production of alumina at its Muri refinery in Jharkhand. Operations were suspended in April this year due to spillage in the red mud cake storage area. According to a regulatory filing, the plant has restarted producing alumina with the consent of Jharkhand State Pollution Control Board. The company said it may not need to import alumina anymore.
IRCTC: The tourism and catering company of the Indian railways signed a memorandum of understanding with Hotel and Restaurant Association of Northern India for listing the association’s member hotels and their room rate inventory for sales on the IRCTC portal. According to a regulatory filing, the company said it has also revised tariff of standard meals on static units over the railways.
Jet Airways: The resolution professional of the airline on Monday invited fresh bids, after lenders to the bankrupt firm had decided to seek fresh expression of interests in a meeting held on 17 December. On Monday, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the extension of the carrier’s insolvency resolution process by 90 days. The airline was admitted to NCLT in June after lenders had failed to attract investors outside court.
Chalet Hotels: The hospitality chain entered into a franchise agreement with Hyatt India Consultancy for Hyatt Regency Navi Mumbai. The company’s upcoming 260 key hotel will be the first Hyatt Regency branded hotel for the company. The project is expected to be completed in 2022. The company also signed a licence agreement for a 55-room hotel in Darjeeling and is expected to open in September 2022.
Tata Motors: The auto major received the Hyderabad bench of NCLT’s approval to transfer its defence undertaking to its subsidiary Tata Advanced Systems Ltd.
Corporation Bank: Credit rating agency Crisil revised its ratings for bonds amounting to ₹850 crore to rating watch with positive implications from negative. This comes at a time when the bank, along with Andhra Bank, is undergoing the process of merger into Union Bank of India, as announced by Finance Minister Nirmala Sitharaman in August. The amalgamation is a part of the government’s mega merger plan that would leave just 12 state-owned banks in India.
Realty Stocks: The Indian real estate market witnessed a marginal 6% rise in sales at 1,43,923 homes in 2019 compared with 1,36,273 in 2018, a JLL report said on Monday. Around 1,43,923 homes were sold against 1,36,273 in 2018, said JLL’s India Market Update 2019. But new launches declined 14%. The year witnessed a 14% decline in new launches at 1,36,998 flats compared with 1,59,452 in 2018.