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Stocks to Watch: Reliance, Zee, Bharti Airtel, JSW Steel, TVS Motors – Mint

Following are the top 10 stocks that will be in news today:

Reliance Industries: RIL has said that a required majority of its shareholders have passed a resolution to appoint Saudi Aramco chairman Yasir Al-Rumayyan as an independent director to the conglomerate’s board. The company is set to announce its September quarter earnings today.

JSW Steel: The flagship business of the diversified JSW Group reported a 350% year-on-year (YoY) jump in consolidated net profit to post its highest quarterly profit of 7,179 crore for the second quarter ending 30 September. The company also reported its highest-ever quarterly revenue from operations at 32,503 crore for the quarter, against 19,264 crore a year ago. 

Zee Entertainment Enterprises: The company agreed, after a nudge from the Bombay high court, on Thursday to consider Invesco’s demand to convene a special shareholders’ meeting after the court assured that the outcome would be kept on hold for a week during which it could review the legality of the resolutions recommended by the US fund manager. 

Indian Hotels: The company plans to buy the 40% stake it doesn’t own in unit Roots Corp. Ltd, which runs the Ginger brand of economy hotels, for 500 crore. The IHCL board also approved plans to raise up to 2,000 crore by selling shares to existing investors and another 2,000 crore by selling shares to financial institutions, totalling 4,000 crore. 

Bharti Airtel: The telco’s rights issue to raise up to 20,987.39 crore has been subscribed 1.44 times. The rights issue opened on October 5 and the company had fixed September 28 as the record date for rights entitlement. The company’s board had on August 29 approved raising up to 21,000 crore by way of the rights issue for 535 per share, including a premium of 230.

Mphasis: The IT firm reported a 14% increase in consolidated net profit at 341.4 crore for the September quarter. The company’s net profit stood at 299.2 crore in the year-ago period. Revenue from operations grew 17.8% to 2,869.2 crore in the reported quarter.

GAIL (India): The company will build India’s largest green hydrogen plant in the next 12-14 months, as it looks to supplement ‎its natural gas business with carbon-free fuel. Gail is looking at building a 10-megawatt (MW) electrolyzer capable of generating 4.5 tonnes of green hydrogen daily. The firm has already floated a global tender to buy the electrolyzer and is hoping to get delivery in 12-14 months.

GMR Infrastructure: The infrastructure major is likely to launch a 6,000 crore qualified institutional placement (QIP) issue by October end. The QIP would lead to a dilution of about a 15% stake in the company, sources told CNBC-TV18.

TVS Motor: The company posted a 29.19% increase in consolidated net profit at 234.37 crore for the quarter ended September. Revenue from operations rose to 6,483.42 for the second quarter as compared to 5,254.36 in the year-ago period.

IDFC Ltd: The company has appointed Citigroup Global Markets India as its investment banker for divestment of IDFC Asset Management Co

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