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Stocks to Watch: Supriya Life, RBL Bank, SpiceJet, IOC, HFCL, telecom stks

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3 years ago

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Stocks to Watch: Supriya Life, RBL Bank, SpiceJet, IOC, HFCL, telecom stks

Given the encouraging clues from overseas markets, major benchmark indexes may start trading in a positive stance. As of 08:05 am, the SGX Nifty January futures price was 17,245, which was nearly 100 points higher than the last closing price of NSE. At the same time, here are the top stocks that are the focus of today’s trading.

Supriya Lifescience: According to signs of gray market premium (GMP), the stock may rise sharply. The stock is quoted at 40-45%, with a premium of about 400 rupees, while the issue price is 274 rupees per share. The IPO also received a strong response, with subscriptions exceeding 71.5 times. Rich investors (NII) bid as much as 161.2 times their limit, and retail investors bid as much as 56 times.

RBL Bank: After a sharp sell-off on Monday, the stock may become the focus today. Rating agencies ICRA and CARE have placed their ratings on private banks of concern and stated that they are monitoring the events of RBL Bank. After the executive officer (CEO) Vishwavir Ahuja abruptly leaves, assess any impact. read more

At the same time, RBL Bank announced that it will cooperate with Bajaj Finance to launch a joint credit card.

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Telecommunications: The Ministry of Telecommunications said that in 2022, commercial 5G services will be launched in 13 cities in India, including metropolises. At the same time, telecommunications service providers require the government to keep the price of 5G spectrum within an acceptable range to achieve maximum industry participation. Read more Shriram Transportation Finance Company (STFC): After the group announced its merger plan, shares of this truck and commercial vehicle finance company have become one of the biggest losers in the BSE 200 stock in recent weeks. This is the future of stocks. Reading analysis

Adani Group: The group said that after fighting against climate activists for a seven-year campaign and ignoring global push to get rid of fossil fuels, it will start exporting high-quality, low-sulfur from its Carmichael mine in Australia as early as this week. Of coal. read more

Ashok Leyland: This truck manufacturer plans to enter the used car business. It will work with Shriram Automall India Limited, which is a market that connects buyers and sellers of used cars and equipment. The two companies will launch a physical and digital platform to facilitate the exchange, disposal and purchase of used commercial vehicles. read more

SpiceJet: Indian domestic airlines AirAsia India and SpiceJet launched discount programs on Monday, with fares as high as 1,122 rupees. Reservations are available between December 27th and 31st, and discounts apply to tickets between January 15th and April 15th. read more

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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

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24 hours ago

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November 21, 2024

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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.

As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.

Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.

Congress demands JPC probe

Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.

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ALSO READ- At 65.2%, Maharashtra records highest voter turnout since 1995 assembly election

Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.

He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.

The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.

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“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.

Other Oppn leaders join attack

Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.

Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.

ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%

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Adani stocks latest updates

The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.

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