Stocks To Watch: Reliance Industries, Bharti Airtel, BEML Shares In Focus Today
Stocks To Watch: Domestic share markets are set to start the week on a positive note, after closing near record highs in the previous session, as hopes of a coronavirus vaccine continue to buoy investor sentiment globally. At 8:52 am, the Singapore Exchange's Nifty futures - an early indicator of the National Stock Exchange's benchmark Nifty 50 index - traded 119.75 points- or 0.93 per cent - higher at 12,973.80, ahead of the opening of Indian markets.
Equity markets elsewhere in Asia moved higher with cautious gains. MSCI's broadest index of Asia-Pacific shares outside Japan was last seen trading 0.38 per cent higher. Trading activity was thin in early deals, with Japanese markets closed for a holiday. Japan's Nikkei futures added 0.16 per cent, and South Korea's Kospi was up 0.84 per cent.
Here are few stocks that will be in focus in Monday's (November 23) session:
Reliance Industries
Reliance Industries shares will be watched closely as the Competition Commission of India (CCI) cleared the conglomerate's $3.4-billion deal to buy Future Group's retail assets, thwarting Amazon.com's efforts to block the deal. The fair trade regulator announced its decision in a tweet on Friday, with details likely to be made public later.
Amazon had approached the CCI and the country's market regulator SEBI alleging the deal would violate some pre-existing agreements it had with Future Group. Last month, Amazon had won an injunction from a Singapore arbitrator to halt the deal pending arbitration.
Bharti Airtel
Bharti Infratel said on Thursday that it had completed its merger with Indus Towers, to create a mega tower company. Vodafone Group will hold a 28.12 per cent stake in the merged entity, while the holding of Airtel Group will be about 36.7 per cent.
BEML
BEML shares will be watched after the company said it had received an order to contract 'MRS1' from DMRC, for additional 12 trainsets of six cars each (total 72 cars) to operate on line 2B and 7 of Mumbai metro project. The order is valued at Rs 501 crore, taking the total contract value to to Rs. 4,318 crore.
