Stocks To Watch: Future Retail, Bharti Airtel, Vedanta, Hindalco
New Delhi: The domestic stock indices are likely to trade in red on Monday amid the ongoing Russia-Ukraine conflict. Asian markets plunged as Japan’s Nikkei fell 0.34 per cent, Hong Kong’s Hang Seng index was 1.49 per cent down and the Shanghai Composite index dropped 0.28 per cent. Trends on SGX Nifty indicated a lower opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures cracked 376.75 points or 2.23 per cent to 16,544.50.
The benchmark BSE Sensex had jumped 1,329 points or 2.44 per cent to close at 55,859 on Friday; while the broader NSE Nifty had moved 410 points or 2.53 per cent higher to settle at 16,658.
Here Are Stocks To Watch During Today’s Session:
Future Retail: The country’s second-largest retailer has suspended most of its online and offline operations after Reliance Industries bid to take over its flagship supermarkets for missed lease payments. RIL will rebrand the Future stores.
Vedanta: The company’s aluminium business would focus on backward integration in the next fiscal and would bring into production two of its mines in Odisha to provide raw material security for its plants, Vedanta CEO Rahul Sharma said.
Bharti Airtel: The telecom major’s shareholders have approved the issue of preferential shares to Google for its about Rs 7,500 crore investment in the company to buy a 1.28 per cent stake.
Hindalco Industries: The aluminium major has entered into a share-purchase pact with Brazil’s Terrabel Empreedimentos Ltda to divest its entire equity shareholding in Hindalco Do Brazil Industria Comercia de Alumina LTDA (HDB). HDB is a wholly-owned step-down subsidiary of Hindalco.
Aurobindo Pharma & Sun Pharma: Leading homegrown drug makers Aurobindo Pharma and Sun Pharmaceutical Industries are in the process of recalling different products in the U.S. market due to deviation from standard manufacturing norms.
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