Stocks in focus: RIL, Bharti Airtel, Vodafone Idea, TCS, Kotak Mahindra Bank, Burger King, NMDC

Nifty futures were trading 60 points down at 13,531 on Singaporean Exchange, suggesting a negative opening for BSE Sensex and Nifty 50 on Tuesday. Asian stock markets were also trading lower following Wall Street due to rising COVID-19 cases. Among key Wall Street indices, the S&P 500 ended lower weighed down by Walt Disney, while Alexion Pharmaceuticals jumped on a $39 billion buyout offer from AstraZeneca in one of the year’s biggest deals. “Vaccine rollout, Brexit talks and hopes of US stimulus could keep the sentiments buoyant. Investors would react to India’s inflation data on Tuesday and would track US Fed Policy meet due on Thursday,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today

TCS: Tata Consultancy Services has expanded its strategic partnership with Star Alliance, the world’s largest airline alliance, to provide predictive and real-time business analytics, improve its customers’ overall experience and accelerate its digital transformation journey.

Indian Bank: Indian Bank in a BSE filing informed that it has further raised Tier 1 Capital Fund through private placement of Basel Ill compliant AT 1 Perpetual Bonds aggregating to Rs 560 crore at a coupon of 8.44 per cent p.a. payable annually. The issuance/placement of said Bonds has been completed by the Bank through BSE-EBP.

Kotak Mahindra Bank: The Reserve Bank of India (RBI) has granted approval for the re-appointments of Prakash Apte as Part-time Chairman, Uday Kotak as MD & CEO; and Dipak Gupta as Joint MD for a period of 3 years, with effect from 1st January 2021.

RIL, Bharti Airtel, Vodafone Idea: According to a Reuters report, Reliance Industries Ltd’s telecom division has asked the Indian telecoms regulator to take action against rivals Bharti Airtel and Vodafone Idea Ltd for allegedly running a false propaganda campaign to attract its subscribers.

Burger King India: On listing day Burger King India shares skyrocketed nearly 131 per cent and were involved in a number of deals as well. Vijit Asset Management Private Limited bought and sold shares of Burger King in bulk deals, as did Swapnil Mehta, Ashwin Stock and Investment Private Limited, SMC Real Estate Advisors. Basant Maheswari Wealth Advisors and Valiant Mauritius Partners Offshore were buyers of the stocks.

NMDC Ltd: The Rs 1,378-crore share buyback of National Mineral Development Corporation (NMDC) will open on December 17 and close on December 31, 2020.