The Indian market is likely to open steady on Monday amid mixed global cues. At 7:20 am, the SGX Nifty was trading 10 points or 0.08 percent lower at 11,944.50, indicating a flat start for the Sensex and Nifty50. Among the stocks in the news today, Bharti Airtel sought government nod for Rs 4,900 crore foreign investment while Maruti Suzuki's November production rose 4.3 percent YoY. Here are the top stocks to watch out for:
Bharti Airtel: Promoter Bharti Telecom has sought government nod for the infusion of Rs 4,900 crore investment from Singapore-based Singtel and other foreign entities, PTI reported. The fund infusion will enhance foreign stakeholding in Bharti Telecom to over 50 percent that will make it a foreign-owned entity. Currently, Sunil Bharti Mittal and his family own around 52 percent stake in Bharti Telecom. Additionally, the company removed cap from free outgoing calls on other networks under new plans for pre-paid customers that came into effect from December 3.
Maruti Suzuki India: Total November production rose 4.3 percent to 1.41 lakh units as compared to 1.35 lakh units YoY. Total PV Production was up 3.7 percent at 1.39 lakh units as against 1.34 lakh units YoY. (Image: Reuters)
NBCC Ltd: The state-run real estate developer NBCC received an order from Department of Revenue, Ministry of Finance for construction work for the project worth Rs 621 crore. The project is for development of Rajaswa Bhawan, National Tax Headquarters, New Delhi wherein NBCC will work as Project Management Consultant. (Stock Image)
Vodafone Idea Ltd: The telecom operator removed cap from free outgoing calls on other networks under new plans for pre-paid customers that came into effect from December 3.
KNR Construction: The company received orders worth of Rs 165.68 crores from Greater Hyderabad Municipal Corporation under Comprehensive Road Maintenance Contract (CRMC) for 5 years. Additionally, the company signed a Concession Agreement for KNR Palani Infra Private Limited - HAM Project with NHAI.
Mahindra Lifestyle: The real estate developer said that its joint venture cum subsidiary has launched its residential project, ‘Happinest Kalyan’, at Bhiwandi-Kalyan Road in Mumbai Metropolitan Region.
Axis Bank: Jairam Sridharan resigned as Group Executive and Chief Financial Officer of the bank. (Image: Reuters)
Dish TV: CARE Ratings reviewed the ratings assigned for company's Bank facilities to CARE D from CARE A4+. The revision in the rating assigned to the bank facilities of Dish TV India Ltd (DTIL) takes into account default in payment of short term loan due on November 28, 2019. (Image: Reuters)
Welspun Corp Ltd: The company received contracts for the supply of 179 KMT of pipes for multiple projects on a global basis. Out of these orders, 161 KMT will be serviced from the company’s USA facility. Its total order book stands at 1,459 KMT valued at approximately Rs 12,100 crore.
Allahabad Bank: The board gave approval for raising Tier 2 capital by floating Basel III compliant Tier 2 Bonds aggregating up to Rs 1500 crore