Top stocks to watch in trade— RIL, Future Enterprises, HCL Technologies, Future Retail, ITC, Indiabulls Ventures, RBL Bank, Inox Wind and more
- At 7:45 am, the SGX Nifty was up 0.11% at 8.72 points pointing towards a higher start for the Nifty50.
- Here’s a list of
stocks to watchfor in trade today.
- Check out the latest news and updates on Business Insider.
At 7:45 am, the SGX Nifty was up 0.11% at 8.72 points pointing towards a higher start for the Nifty50. The Hang Seng Index was also trading 2% higher.
These are the stocks to watch out for during the trading session on Monday:
Reliance Industries and Future Enterprises
AdvertisementMukesh Ambani owned Reliance Industries on Saturday announced that it had acquired the retail, wholesale, logistics and warehousing business of Kishore Biyani’s Future Group for a lump sum aggregate consideration of ₹24,713 crore.
The news may move other Future Group subsidiaries — Future Retail, Future Lifestyle Fashions and Future Consumer— shares as well. The shares of Future Enterprises ended 5% higher on Friday, whereas RIL was trading almost flat.
According to news reports, HCL Technologies American arm HCL America is facing a patent infringement claim related to one of its software products. The reports suggest that HCL America is due to respond to the lawsuit filed by a Texas-based company, Coretek Licensing, by September 28.
The shares of HCL Technologies ended nearly a percent lower on Friday.
FMCG major ITC on Friday informed stock-exchanges that it is considering merging three of its wholly-owned subsidiaries —- Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah — with the parent company.
The company said its board would meet on September 4 to consider the proposal. The shares of ITC ended nearly a percent higher on Friday.
Indiabulls Ventures on Friday told stock-exchanges that it would raise nearly ₹588 crore via share sale to a clutch of investors. In the filing, the company said it would issue 33.6 million shares, representing about 5.5% shareholding, to six investors.
The shares of Indiabulls Ventures ended nearly 8% higher on Friday.
RBL Bank in a BSE filing told investors that the Bank MD and CEO Vishwavir Ahuja sold nearly 18,92,900 shares on August 27-28 for ₹38.52 crore.
The Bank said Ahuja sold his shares to service personal debt obligation and to meet some family commitments. The shares of RBL Bank ended nearly 5% higher on Friday.
Inox Wind on Friday reported a net loss of ₹73 crore for the quarter ended June 30. The company’s revenue from operations fell to ₹97 crore from ₹260 crore in the same quarter last year. The board of Inox Wind approved raising ₹200 crore via issue of securities.
The shares of Inox Wind ended nearly 4% lower on Friday.
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