NEW DELHI: Here is the list of the top 10 stocks that could be in the news on Tuesday:
BPCL: India's plan to privatize Bharat Petroleum Corp. has faced bad weather with bidders scrambling to find partners and spread their financial risks. The three suitors, the Vedanta group and Apollo Global Management, and I Squared Capital, are talking to global energy giants and sovereign and pension funds, but have not been able to find partners.
Bharti Airtel: The telecommunications company informed the government that it will opt for a four-year moratorium on the payment of AGR and spectrum fees. The quota moratorium option was offered to telcos as part of a recently announced aid package for the telecommunications sector. Airtel told the government that it will take the four-year moratorium "with the option of paying in advance according to the rules of the NIA (notice of invitation to application)."
Telecommunications actions: The Center has amended the rules for the telecommunications license to reduce the tax burden on telecommunications operators by exempting all non-telecommunications income, dividend income, interest, sale and rental of properties, among others, for the calculation of charges such as license fees and charges for spectrum use. .
Zee Entertainment: Zee Entertainment Enterprises Ltd and Sony Pictures Networks India plan to complete the due diligence process for the proposed merger in late November, three weeks before the 90-day deadline set by the two broadcasters. A single judge bench in the Bombay High Court will decide on Tuesday whether Zee should be asked to hold a special meeting for investors.
Tata groups actions: The winning bidder of Air India Ltd, the Tata group and the government signed a share price agreement (SPA) for the sale of the national airline on Monday. The group holding company Tata Tata Sons Pvt. Ltd, through its wholly owned unit Talace Pvt. Ltd, had submitted the winning bid of ₹18 billion rupees as a business value of Air India, against a reserve price of ₹12.906 crore.
Tech Mahindra: Acquired US-based Infostar LLC (Lodestone) and London-based We Make Websites Ltd (WMW) for $ 105 million and £ 9.4 million ($ 13 million) respectively, to strengthen your digital portfolio. Tech Mahindra reported $ 1.47 billion in revenue for the September quarter, an increase of 6.4% on a sequential basis.
JSW Steel: JSW Steel, led by Sajjan Jindal, plans to establish a color-coated steel plant in the Pulwama district of Kashmir with a total investment of ₹150 crore. The company has a steel production capacity of 28 MTPA in India and the United States.
Ceat: The tire manufacturer reported a significantly lower profit of ₹Rs 42 crore for the September quarter compared to ₹Rs 181.9 crore a year ago, but revenue increased to ₹2,451.8 crore of ₹1,978.5 million rupees. The Board has approved fundraising of up to ₹Rs 500 crore through debt.
HDFC Asset Management Company: Reported net profit of ₹344.38 million rupees for the quarter ended September against ₹Rs 338.06 crore in the second quarter of fiscal year 21, while revenue increased to ₹542.33 crore of ₹Rs 456.25 crore a year ago.
Canara Bank: The state lender said it has raised ₹Rs 1,500 crore by issuing Basel III compliant bonds. The bank has issued and allocated additional Basel III-compliant Tier I bonds in the amount of ₹1,500 crore.
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