New Delhi: Here are the top 10 stocks that could be on the news on Monday:
PSU banks: The Association of Indian Industries (CII) has urged the center to consider setting up “multiple bad banks” to address the problem of rising non-performing assets (NPAs) of government-owned lenders due to disruption from Covid has deteriorated.
Automotive stocks: Auto company plans to hike vehicle prices starting in January could disrupt demand recovery following the easing of lockdown restrictions. Maruti Suzuki India Ltd., Hero MotoCorp Ltd., Honda Motor Co. as well as Mahindra and M & M have announced price increases effective January, highlighting the need to protect their margins after the rise in the price of raw materials.
DHFL: The race to take over the bankrupt Dewan Housing Finance Corp. Ltd. (DHFL) has tightened. Top bidders Oaktree Capital Management and Piramal Group offer to sweeten their bids as the sales process entered final negotiations. Two people were directly aware of the developments.
RIL: Reliance Industries and partner BP are getting just $ 4.06 per unit for the new gas they started producing from the eastern offshore KG-D6 field, despite finding a higher rate at an open market auction . While operators are free to price, they cannot sell at a rate higher than the government-announced cap, which is $ 4.06 per mmBtu for the six months ended March 31, 2021.
Container Corp.: In order to facilitate the privatization of the state-owned Container Corporation (Concor), the center plans to halve the leasing rates to be paid by the company for the industrial use of the railways’ surplus land to 3%. In addition, the lease term will be extended from 5 years to 35 years, which makes it attractive to potential buyers. The cabinet will soon examine both proposals.
Shipping Corp.: The center will likely be soliciting bids for the privatization of the Shipping Corporation of India this week and buyers will have until mid-February to submit EoIs, an official said. The government plans to divest its entire 63.75% stake in the company along with the transfer of management control.
Bank of Baroda: The lender has completed the integration of 3,898 branches of the former Vijaya Bank and Dena Bank. In a first three-way merger, Vijaya Bank and Dena Bank were merged with Bank of Baroda with effect from April 1, 2019.
ONGC: State-owned Oil and Natural Gas Corp opened India’s eighth hydrocarbon-producing basin on Sunday when it started oil flow from a well in the Bengali Basin. Oil production began from the Asokenagar-1 well in District 24 Pargana, the company said in a statement.
Oil india: Numaligarh Refinery Ltd announced that it has signed an MoU with Oil India Ltd to increase the latter’s existing pumping capacity through its pipeline. This will help OIL increase product evacuation from 1.72 million tons per year (mmtpa) to 5.50 mmtpa through the Numaligarh-Siliguri pipeline.
Reliance Home Finance: Six bidders have submitted offers for Reliance Home Finance Limited (RHFL). Of these, only two bidders have submitted compliant and binding bids, and the other four bids are non-binding and do not meet the bid conditions. The lenders have decided to extend the bidding period until January 31, 2021 to accommodate the four non-compliant bidders.