Thursday, February 2, 2023

Stocks to Lookout at Bharti Airtel, JK Tyre, Muthoot Finance, ICICI Bank, Vijay Mallya

DELHI, NEW DELHI: Here are ten Stocks that may be making headlines today.

Bharti Airtel: The Department of Telecom (DoT) intends to slap Bharti Airtel with $1,376 crore in AGR dues from Videocon Telecommunications.

JK Tyre and Industries Ltd: Cavendish Industries Ltd, a subsidiary of JK Tyre and Industries Ltd, has been given a long-term issuer rating of ‘IND A- / Stable’ by credit rating company India Ratings and Research.

Muthoot Finance: a gold loan non-banking financial firm, has launched its 25th issue of secured public non-convertible debentures (NCDs), with a goal of raising up to Rs. 1,700 crore. The NCD has an effective yield ranging from 6.60 percent to 8.25 percent per year.

ICICI Bank Ltd: India’s second-largest private lender, has climbed two slots in a market capitalization-based Asia-Pacific bank ranking. The bank was ranked 15th among the top 20 banks in the first quarter of 2021, up from 17th in the first quarter of 2020.

Vodafone Idea Ltd: Vodafone said in a statement that it has introduced internet of things (IoT) solutions that include networking, hardware, network, application, analytics, security, and support for businesses looking to digitize their operations.

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Escorts Finance Ltd: Escorts said in a regulatory filing that it has decided to sell its entire shareholding of 10.81 percent in Escorts Securities Ltd to Choice International Ltd subsidiary Choice Equity Broking Pvt. Ltd.

Srei Equipment Finance Ltd: The company’s subsidiary Srei Equipment Finance has received expressions of interest for a $250 million capital infusion from private equity funds Arena Investors LP in the United States and Makara Capital Partners in Singapore, according to Srei Equipment Finance.

Kalpataru Power Transmission: Kalpataru Power Do Brasil Participacoes Ltd, a subsidiary of Kalpataru Power Transmission Ltd, has completed the acquisition of a 51 percent stake in Fasttel Engenharia Ltd, a Brazilian EPC firm based in Curitiba, Paraná, Brazil.

SW Steel: The company recorded crude steel output of 4.19 million tonnes in Q4FY21, up 2% from the previous quarter and 6% year over year. The average capacity utilization of the business increased from 91 percent in Q3FY21 to 93 percent in Q4FY21. During the month of March 2021, however, power utilization was 96 percent.

Ritesh Properties & Industries Ltd: By preferential allotment to Findoc Finvest Pvt. Ltd, the company issued 42 lakh optionally fully convertible debentures (OFCD) with a face value of ten rupees each and a price of 22 rupees each. After 6 months and before 18 months from the allotment, one OFCD will be converted into one equity share of the company at the holder’s option, according to the company.

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