Top stocks to watch — Dr Reddy’s Lab, Reliance Power, Hero Moto, Eicher Motors, TVS Motor, Phoenix Mills, Coal India, and others

Top stocks to watch — Dr Reddy’s Lab, Reliance Power, Hero Moto, Eicher Motors, TVS Motor, Phoenix Mills, Coal India, and others
BCCL
Indian stock-market indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets.

At 7:40 am, the SGX Nifty was down 0.58%, indicating a slow start for Nifty50. However, on Tuesday, the US stocks closed at record highs as investors bet that a vaccine will drive an economic rebound. The Dow Jones Industrial Average closed 185.28 points higher, and the S&P 500 was up 1.13%.

These are the stocks to watch out for during the trading session today:

Dr Reddy’s Laboratories

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Dr Reddy’s Laboratories and Russian Direct Investment Fund (RDIF) on Tuesday said they had commenced adaptive phase 2/3 clinical trials for the Sputnik V COVID-19 vaccine in India. The trials have commenced after receiving the necessary clearance from the Kasauli-based Central Drugs Laboratory, the company said.

Hero MotoCorp

Hero MotoCorp reported a 13.82% year-on-year rise in its domestic wholesale for November, led by a robust recovery in sales of its entry-level motorcycles in rural and semi-urban markets. The exports rose by 40.37% during the month.

Eicher Motors

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Eicher Motors has registered a growth of 3.2% YoY in its November sales led by domestic sales of Eicher trucks and buses.

TVS Motor

TVS Motor sales grew by 21% registering 322,709 units in November 2020 as against 266,582 units in November 2019.

Phoenix Mills

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Phoenix Mills (PML) and its subsidiaries have signed a non-binding term-sheet with an affiliate of Singapore’s sovereign wealth fund GIC for formation and development of to set up a retail-led mixed-use platform. The proceeds from the proposed transaction are intended to be utilized as growth capital for further expansion and acquisition of greenfield, brownfield, operational and distressed mall opportunities, Phoenix said in a statement.

Coal India

State-owned Coal India on Tuesday reported a 3.4% rise in production at 51.7 million tonnes (MT) in November.

Reliance Power

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Reliance Power defaults on interest payments due on term loans from Axis Bank, Yes Bank and IDBI Bank. The company has a total financial indebtedness of ₹1,360 crore.

Praj Industries

Tata Capital Financial Services sold 11.6 lakh shares in Praj Industries at an average price of ₹91.16/share.

Burger King India
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Burger King India IPO opens for public subscription today. The company has fixed the price band at ₹59-60 per share and is looking to raise ₹810 crore

SEE ALSO: November auto sales estimates — Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto, and other automakers

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