Stocks in focus: HAL, Bandhan Bank, HDFC Bank, RCom, among others to remain in news today
Nifty futures were trading 6 points or 0.05 per cent down at 11,275 in early trade on Singaporean Exchange, suggesting a tepid opening for BSE Sensex and Nifty 50 on Tuesday. A host of factors such as developments in COVID-19, rupee trajectory, OPEC meeting, US-China tussle and other global cues will set the equity market tone for today. In the previous session, benchmark indices settled higher. “Markets will first react to the outcome of AGR hearing in early trade on Tuesday. On the global front, participants are closely eyeing the US and China tussle. Besides, the upcoming OPEC meeting is also on their radar,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Stocks in focus today:
HAL, ZEEL: Hindustan Aeronautics Ltd, Zee Entertainment Enterprises, Gujarat Industries Power, GTL Infrastructure, Indo Count Industries, KNR Constructions, SPML Infra, TCNS Clothing, Uflex, Vascon Engineers, etc., are among 36 companies that are set to announce their quarterly earnings today.
Bandhan Bank: Bandhan Bank said the Reserve Bank of India (RBI) has lifted the regulatory restriction imposed on the remuneration of its managing director and CEO Chandra Shekhar Ghosh, as the holding company brought the shareholding in the bank to 40% to comply with licensing conditions earlier this month.
HDFC Bank: US-based Rosen Law Firm said that it will launch an investigation of potential securities claims on behalf of shareholders of HDFC Bank. The firm cited media reports about the bank’s probe into malpractices at its vehicle-financing arm, its financial underperformance in Q1FY21 and delayed reporting to a credit bureau.
Yes Bank: Yes Bank to increase the total options available in the employee stock option scheme by 15 crore i.e. from 7.5 crore equity stock options to 22.5 crore equity stock options to retain talent. Also, Yes Bank’s managing director and chief executive Prashant Kumar, is set to be paid a total remuneration of Rs 2.84 crore.
Reliance Communications: Reliance Jio told the Supreme Court that it is not liable for RCom’s AGR dues as it is only sharing spectrum with the company for which payment of past dues is not required under the spectrum sharing guidelines.