Stocks to Watch: Airtel, ICICI, Hindalco, Shriram Properties, ONGC, Cipla

Consumer Durable stocks are also likely to be in focus on Monday after the company have hiked prices for the third time this year

The key benchmark indices may remain under pressure in early trade mirroring weak cues from the global markets. As of 08:15 AM, the SGX Nifty futures were down 127 points at 16,889. Meanwhile, here the top stocks to focus in trade on Monday.

Shriram Properties: The stock is set to make its debut on the bourses today, after the IPO was subscribed 4.6 times. The grey market premium (GMP) indicates a likely tepid start to trade.

Consumer Durables: Manufacturers of consumer durable goods have hiked prices for the third time this year as they struggle with rising commodity costs. The latest hike is likely to be followed by another such move next month, said industry players. READ MORE

IT stocks: Accenture’s Q1 FY22 results have sent a wave of cheer among analysts, as the company raised its revenue guidance and said it expects double-digit growth in outsourcing, up from single digit to low double-digit growth expected earlier. The company raised its revenue outlook for FY22 to 19-22 per cent in local currency, up from 12-15 per cent earlier. READ MORE

ONGC: ONGC petrochemical subsidiary – Opal has reported a turnaround with its first ever profit. "During the first half of the current fiscal (April to September), OPaL made a profit after tax of Rs 18 crore," ONGC Chairman and Managing Director Subhash Kumar said. READ MORE

Cipla: The drug major has received approval from the USFDA to market the Lanreotide injection, used for the treatment of acromegaly and gastroenteropancreatic neuroendocrine tumors, in the American market.

Bharti Airtel: The telecom major has acquired an additional 2.86 per cent in software development firm Vahan – an early stage tech startup. The acquisition cost was not disclosed.

Meanwhile, the Airtel has prepaid its entire liability of Rs 15,519 crore from its 2014 acquisition of 128.4 MHz spectrum. The move will help the company save around Rs 3,400 crore in interest expenses. READ MORE

Hindalco: The aluminium major has signed a definitive agreement to acquire aluminium extrusions business for an enterprise value of Rs 247 crore from Norway-headquartered Hydro. The transaction for the same is expected to close in the next quarter.

ICICI Bank: The private lender has raised Rs 5,000 crore through 10-year bonds at a coupon (interest rate) of 6.96 per cent to fund regular business operations. The bonds were rated “AAA” with stable outlook, the bank informed the stock exchange.

Tantia Constructions: The company is scheduled to announce its earnings today.

Stocks in F&O ban: Escorts, Indiabulls Housing Finance and Vodafone Idea are the only stocks in the F&O ban period today.