Maruti, Reliance, Sun Pharma, here’s trending stocks to watch out today
Stocks to watch out for today.Author : A. Gayatri
JP Morgan stated that the recent announcement to reexamine the deal with Saudi Aramco relating to the O2C business will not have much financial impact on RIL. It further said that Goldman Sachs has got a depreciating rating on shares of Coal India to sell.
Here is the list of the top stocks that are possibly getting the focus on Monday.
Maruti: India’s largest carmaker Maruti Suzuki India will be bringing the diesel segment into the market with the idea that sales of such vehicles would continue to decline with the emergence of the next phase of emission models in 2023. The company believes that the next phase of emission norms will elevate the diesel vehicles price which would further have an impact on their sales in the market for which in the last few years has been slowly shifting towards petrol cars.
RIL: Mukesh Ambani-led Reliance Industries Ltd (RIL) and Saudi Aramco will be reanalysing the proposed Investment by Aramco in the oil-to-chemical (O2C) business considering the Indian company’s new energy undertakings, meaning the application with NCLT for separating O2C business from the RIL is being removed. RIL and Saudi Aramco in August 2019 had an agreement for which Saudi Aramco would acquire around 20% stake in Reliance Industries.
Sun Pharmaceuticals: More than 0.11 million bottles of generic medicines are being used for treating erectile dysfunction in men reassembled by the drug major in the US market because of a manufacturing failure. Sun Pharma’s US unit is revoking Tadalafil tablets in the US market, as per the latest enforcement report of the US FDA.
ONGC: The petroleum ministry's bid to hand over ONGC’s biggest oil and gas fields to foreign firms has been receiving opposition from the offices union of the company that said the government should empower the company rather than give it to the private sector. Besides, the ONGC will be investing around ₹6,000 crores in its arm ONGC Petro additions Ltd (OPaL) to meet equity requirements.
Paytm: Reportedly, One97 Communications Ltd., the parent company of Paytm has an overall gross merchandise value (GMV) of ₹832 billion (roughly $11.2 billion) for October. Its general GMV for One97 Communications increased to ₹1,956 billion during the quarter that ended on September 30, which is a rise of 107% successively.
Punjab National Bank: According to cyber security firm CyberX9, PNB’s loosened server has exposed the personal and financial data of its around 180 million customers for about seven months, claiming that the vulnerability provided access to the entire digital banking system of PNB with administrative control.
Route Mobile: Global and domestic investor funds, including Steadview Capital Mauritius, PineBridge Global Fund and Kuber India Fund, have invested ₹867.49 crores ($116.8 million) through a modified institutional placement (QIP) in Route Mobile Ltd.
Adani Group: Many containers have been seized by Customs and the Directorate of Revenue Intelligence (DRI) teams at Mundra Airport, the firm said on Thursday. The seizure was made on a foreign vessel concerning it to have contained undeclared hazardous cargo.
Cadila Healthcare: Drugs major Zydus Cadila stated that it got approval from the US health regulator to sell its Decitabine injection, which is used to treat certain types of cancers, in the American market. US FDA’s endorsement was for Decitabine injection in the strength of 50 mg/vial single-dose vial.
FMCG stocks: The repeal of three farm laws may have an impact on the sourcing of food companies and the recently introduced production-linked incentive (PLI) scheme in food processing. Several food sourcing companies when the laws were announced had said that they would ease the procurement and increase productivity along with reducing wastage and improving farmer incomes.