Top stocks to watch — RIL, IOC, ONGC, Cipla, Hindustan Zinc, Prabhat Dairy, and others

Top stocks to watch — RIL, IOC, ONGC, Cipla, Hindustan Zinc, Prabhat Dairy, and others
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Amidst positive cues from the global markets, the Indian equities are likely to open higher on Wednesday. The SGX Nifty was trading 0.43% higher at 7:45 am, indicating a positive start for Nifty50.

The continuing stimulus talks fuel hopes, US equities closed higher on Tuesday. Dow Jones added over 113 points, and the S&P 500 ended 0.47% higher.

These are the stocks to watch out for during the trading session on October 21:

RIL

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Mukesh Ambani owned Reliance Jio and the US-based Qualcomm joined hands to fast-track the deployment of 5G mobile internet in India. The company made the announcement during the virtual 5G summit yesterday.

The shares of RIL shed nearly a percent.

Hindustan Zinc

Vedanta group company, Hindustan Zinc, announced a dividend of ₹21.3 per share— its highest interim dividend in 12 years. The company also reported a 6.7% drop in its net profit to ₹1940 for the quarter ended September 30.
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The shares of Hindustan Zinc ended 2% higher on Tuesday.

Indian Oil Corporation (IOC)

The state-owned Indian Oil Corporation (IOC) raised ₹2,000 crore on a private placement basis to meet business expenses, the company said in a regulatory filing.
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The shares of IOC ended 2.15% lower on Tuesday.

Oil and Natural Gas Corporation (ONGC)

The Oil and Natural Gas Corporation (ONGC) also raised ₹1,140 crore through a 3-year debenture issue on a private placement basis at an interest rate of 4.64% per annum payable annually.

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The shares of ONGC ended 3% lower on Tuesday.

Cipla

The pharma major Cipla launched generic Nintedanib used for the treatment of Idiopathic Pulmonary Fibrosis (IPF) under the brand name ‘Nintib’ in India. IPF is a rare lung disease that impacts ten in one lakh people, but it is a chronic progressive form of lung disease with an average survival rate of three to five years if left untreated.

The shares of Cipla ended flat on Tuesday.
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Motherson Sumi

Motherson Sumi Systems (MSSL), through its Mexican subsidiary, has acquired the activities of Electrical Wiring Interconnection Systems (EWIS) performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico. The deal is valued around $10 million.

The shares of Motherson Sumi ended 2% higher on Tuesday.

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Prabhat Dairy

The markets regulator SEBI has directed Prabhat Dairy to cooperate with the forensic auditor and deposit over ₹1,292 crore in a nationalised bank within seven days until the conclusion of the audit.

The auditor was appointed to ascertain manipulation of books of accounts of the firm, misrepresentation of financials or business operations by the company, wrongful diversion of funds by promoters.

The shares of Prabhat Dairy ended 5% higher on Tuesday.
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Bajaj Auto

The state-owned Life Insurance Corporation increased its stake in Bajaj Auto from 4.76% in the June quarter to 6.4% in the September quarter.

The shares of Bajaj Auto ended 1% higher on Tuesday.

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L&T Infotech (LTI)

The IT major L&T Infotech (LTI) reported a 26.7% increase in consolidated net profit to ₹456.8 crore for the quarter ended September 30. The company’s overall revenue grew 16.6% to ₹2,998.4 crore in the quarter under review.

The shares of LTI ended 2% lower on Tuesday.

Mastek

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The software major Mastek’s UK subsidiary has sold its entire stake in Majesco’s US subsidiary for a total value of $32.3 million. The company aims to use the funds for helping the UK arm drive its growth strategy and reduce borrowings.

The shares of Mastek ended 1% higher on Tuesday.

Equitas Small Finance Bank

The ₹518 crore IPO of Equitas Small Finance Bank has so far seen a subdued response from the investors. On day one of the bidding, the issue was subscribed only 0.39 times, and the qualified institutional buyer subscription portion stood at zero.
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