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Stocks in the news: Paytm, Vodafone Idea, Mahindra Lifespace, NMDC, MSTC, RIL and Petronet LNG – Economic Times

NEW DELHI: Nifty futures on the Singapore Exchange traded 37 points, or 0.21 per cent, lower at 17,502 signaling that Dalal Street was headed for a muted start on Monday. Here are a handful of stocks which may buzz the most in today’s trade:
: Digital financial services firm One97 Communications (Paytm), which operates under the brand, on Sunday denied any link with the merchants that are under the Enforcement Directorate scanner in the Chinese loan app case.

Vodafone Idea: Loss-making

(Vi) has prepaid a short-term loan of about Rs 2,700 crore to SBI in a bid to shore up lenders’ confidence as it urgently seeks fresh bank funds to tie up equipment supply deals for 5G networks and also clear some of its near ₹15,000-crore trade payables, comprising dues to tower companies, network gear vendors and other suppliers.

Mahindra Lifespace Developers: The realty firm is targeting a 2.5-fold jump in its annual sales bookings to Rs 2,500 crore in the next three years on better housing demand, its MD and CEO Arvind Subramanian has said.

Tata Group stocks: Former Chairman of Tata Sons Cyrus Mistry was killed in a car accident in Palghar on Sunday. The Shapoorji Pallonji Group, controlled by the late Pallonji Mistry and his family, owns about 18 per cent of the closely held Tata Sons, the holding company of the $113 billion software-to-cars Tata empire.

: The government is likely to invite preliminary bids for the strategic sale of NMDC’s Nagarnar Steel Plant by March-end, an official said. The official said that NMDC’s under-construction steel plant in Chhattisgarh is expected to commence operation this month, and once the demerger process is complete, the DIPAM will proceed with the privatisation of Nagarnar Steel Plant.

Petronet LNG: India’s biggest gas importer will invest Rs 40,000 crore in the next five years for expanding import infrastructure as well as foraying into new business to boost profitability to Rs 10,000 crore. Petronet, which operates two LNG import facilities at Dahej in Gujarat and Kochi in Kerala, is looking to foray into the petrochemicals business, according to the firm’s latest annual report.
: The government-owned e-commerce service provider MSTC aims to expand its offering for private players and has tied up with firms like , , , and Larsen & Toubro (L&T). The company believes that the current financial year will remain volatile and it would need to develop smart ways to tackle new challenges.

Birla Corporation: The MP Birla Group firm plans to increase its cement production capacity by 50 per cent to 30 million tonnes per annum by 2030, the company said in its latest annual report. The company, which has commissioned a greenfield unit at Mukutban with an investment of Rs 2,744 crore has plans to set up some new units and expand the production capacity of the existing units.

Adani Group stocks: The Adani Group is said to have reached out to CreditSights, highlighting its systemic capital management plan, improved net debt to operating profit ratio and a diversified borrowing book to allay debt concerns raised earlier by a Singapore-based global market research firm, people familiar with the matter told ET.

Hinduja Global Solutions: Shareholders of NXTDIGITAL has voted in favour of its merger with Hinduja Global Solutions, the company said on Friday. A total of 99.99 per cent non-promoter shareholders vote in favour of the Scheme of Arrangement between NXTDIGITAL and Hinduja Global Solutions, NDL said in a statement.

SpiceJet: The airline has received an extension of up to three months for conducting its annual general meeting for the financial year ended March 2022. Now, the Annual General Meeting (AGM) for the last financial year will be held on or before December 31, 2022.

Reliance Industries:

is in talks to acquire brands such as Garden Namkeens from CavinKare, besides other brands such as Lahori Zeera and Bindu Beverages in a bid to strengthen its fast-moving consumer goods (FMCG) play, people familiar with the development told ET.

Bharti

: has launched a pilot project in partnership with TP Northern Odisha Distribution to offer bill payment solutions to more than two million registered customers of the utility, said a senior executive at India’s second-largest telecom operator.