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Stocks to Watch: Future Retail, Maruti Suzuki, Tata Motors, FMCG shares

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Stocks to Watch: Future Retail, Maruti Suzuki, Tata Motors, FMCG shares

Here are the top 10 stocks to watch on Tuesday:

Future Retail: The Lenders to Future Group plans to contact the Reserve Bank of India (RBI) to seek an exemption from marking the loans it provides to retailers as NPA. The move came after Future Retail’s weekend breach of the clock ticking to set such classifications at the end of this month. Maruti Suzuki: India’s largest automaker plans to launch nearly six SUVs in the next three years. The product introduction will begin in the next fiscal year, with the launch of two SUVs. One will compete with Hyundai Creta, and the other Jimny will compete with Mahindra’s Thar. These models are expected to add nearly 250,000 vehicles to the company every year.

Tata Motors: Due to the strong demand for the latest series of sports utility vehicles, Tata Motors has surpassed Hyundai Motor India to become the second largest passenger car seller in the domestic market, second only to Maruti Suzuki India. In December last year, Tata Motors delivered 35,461 passenger cars to dealers, while Hyundai Motor delivered 32,312.

Shriram Transport Finance: It plans to raise approximately US$500 million from international investors. This will be the first offshore bond sale by a non-bank lender this year.

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Zee Entertainment: Zee Studios, the film production and distribution arm of Zee Entertainment Enterprises Ltd, will double the number of films planned to be produced in 2022. Zee Studios declined to disclose investment figures, but trade experts estimate that the cost of producing these films is 1,000 crore rupees.

Inox Wind Energy: It will seek shareholder approval through the issuance of 1.062 million convertible warrants at the Extraordinary General Meeting of Shareholders (EGM) later this month, raising up to 900 million rupees. Convertible warrants will be issued at an extraordinary general meeting of shareholders on January 25 at a price of 847 rupees per unit.

Fast-moving consumer goods stocks: With the sudden emergence of new coronavirus-related restrictions in several large states, packaged goods companies have once again increased their supply and inventory of products through retail stores and e-commerce channels.

Complete News Source : mint

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

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1 day 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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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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