Stocks to Watch: IndiGo, RIL, Hinduja Global, Federal Bank, Brightcom

Auto shares are likely to be in focus as car makers are looking to ramp up production by an average 18-20 per cent in the March quarter, as the shortage of semiconductor eases.

The key benchmark indices are likely to start trade on a tepid note amid escalating Russia-Ukraine crisis. Over the weekend, Russia upped the ante in the high-stakes diplomatic game by extending military drills in Belarus. As of 07:50 AM, the SGX Nifty futures quoted at 17,226, indicating an opening loss of 50-odd points on the Nifty 50 index. Meanwhile, here are the top stocks in focus for trade on Monday.

Sterlite Technologies: The digital networks integrator expects about 20 per cent growth in business across key markets of the US, Europe and India in FY23 amid global scale-up of networks and 5G build outs, its managing director Ankit Agarwal said. READ MORE

Puravankara: The company’s sales bookings rose 17 per cent YoY to Rs 666 crore in the quarter ended December 2021 on the back of higher volumes as well as per square feet price realisation.  The company sold 690 units in the quarter under review as against 661 units in the corresponding period of the previous year. READ MORE

Reliance Industries (RIL): The Mukesh-Ambani led firm looks set to take its rivalry with Amazon to the cricket field, where they will likely battle media heavyweights for telecast rights to India’s premier cricket league with its hundreds of millions of viewers. Amazon.com Inc and RIL are expected to take on India units of Sony Group Corp and Walt Disney Co for exclusive five-year TV and digital broadcast rights, at a cost that could run to a record Rs 50,000 crore. READ MORE

InterGlobe Aviation (IndiGo): After years of dispute between the IndiGo promoters, co-founder Rakesh Gangwal stepped down from the airline’s board. He will be reducing his stake in the company over the next five years. Gangwal controls 36.6 per cent stake in the airline company, while the other promoter Rahul Bhatia owns 38.18 per cent. The two promoters fell apart in 2019 on allegations of governance lapses resulting in an inquiry by the SEBI and an arbitration. READ MORE

Hinduja Global Solutions: The company informed BSE that its UK-based subsidiary won a prestigious contract worth Rs 2,100 crore from the UK Health Security Agency to provide critical services. The contract is valid for a period of two years. READ MORE

Vedanta: The Anil Agarwal-led Group is getting ready for two separate ventures that may see investments worth $15 billion in chip and display manufacturing space in India. One will be with Hon Hai Technology Group (also known as Foxconn) to manufacture 28-nano meter semiconductor chips based on a technology developed by the Taiwanese multinational. The other venture is meant for a display manufacturing unit. READ MORE

BPCL: The oil marketing company launched 10 EV fast-charging corridors on the 900-km long Chennai-Trichy-Madurai highway. This is the first electric vehicle (EV) friendly highway in the south, the company informed.

Coal India: The state-owned coal major supplied 575 million tonnes (MT) of coal so far this fiscal, surpassing the total dispatch of dry fuel in 2020-21. The company had dispatched 574.5 MT of coal in FY21, the company said in a statement.

Infosys: The IT major informed BSE that US-based Guideware PatnerConnect has select it as a consulting alliance member at the Select level for the Americas.

Federal Bank: The private bank informed BSE that its subsidiary Fedbank Financial Services (FedFina) filed its Draft Red Herring Prospectus (DRHP) for its Rs 900 crore initial public offer.

Airlines: Air traffic slumped sharply in January 2022 as airlines cancelled flights and states reintroduced curbs due to the Omicron wave of Covid-19. Domestic airlines flew 6.4 million passengers in January, a sequential decline of 42.7 per cent. In December airlines had carried 11.2 million passengers – which was also the highest in 2021. READ MORE

Brightcom Group: The company informed BSE that it set March 16, 2022 as the record date for the proposed 2:3 bonus share issue.

NBFCs: Finance companies have sought priority sector lending status for the money they get from banks to give loans for buying two wheelers (TW). This would help them get cheaper funds from banks and increase lending, especially in rural areas, according to the Finance Industry Development Council (FIDC). READ MORE

Autos: Passenger vehicle makers are looking to ramp up production by an average 18-20 per cent in the March quarter compared to the December quarter as the shortage of semiconductor eases. If the companies end up manufacturing vehicles according to plan, it’s likely to even exceed the pre-Covid volumes of Q4FY20, according to analyst and supplier estimates. READ MORE

Kalpataru Power: The company informed BSE, the merger of JMC Projects (India) with the company to create one of India’s largest EPC companies in the areas of power transmission, buildings & factories, railways, oil & gas, water and heavy civil, with order book in excess of Rs 37,000 crore. As per the merger ratio, sharesholders of JMC shall be issued equity shares of Kalpataru in the ratio of 4:1.

Phoenix Mills: The company to acquire balance 50 per cent stake in its associate company – Classic Mall Development Company.

Stocks in F&O ban: Escorts, Indiabulls Housing Finance and Punjab National Bank (PNB) are the only three stocks in the F&O ban period on Monday.