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Stocks in the news: SBI, Bharti Airtel, Vodafone Idea, HUL, Apollo Tyres, IDBI Bank

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NEW DELHI: Nifty futures on the Singapore Exchange traded 93 points, or 0.79 per cent, lower at 11,725, indicating a negative start for Dalal Street.

Here are a few stocks that may buzz during the day: SBI: Morgan Stanley has raised its price target on State Bank of India by 14 per cent to Rs 375 citing better performances of its subsidiaries — mutual fund, life insurance and cards businesses. Bharti Infratel: Bharti Infratel is said to be hesitant about going ahead with the Indus Towers merger plan.

Sources said it has sought to extend the process by two months in view of the uncertainty over the survival of Vodafone Idea.

IDBI Bank: Rakesh Jhunjhunwala’s RARE Equity, HDFC Life Insurance and ICICI Prudential Life Insurance have been shortlisted from amongst a list of suitors who have submitted proposals to acquire a significant stake in IDBI Federal Life Insurance.

Vodafone Idea: Vodafone Idea has called on the government to allow it to pay adjusted gross revenue dues over 15 years.

The telco has also asked for a tax refund, cuts in licence fees and spectrum usage charges and tariff floor among measures to help remain viable.

HUL, GSK Consumer: NCLT Chandigarh branch has cleared the scheme of merger between consumer goods giant GlaxoSmithKline Consumer Healthcare and Hindustan Unilever, clearing the decks for GSK Plc to cash out its 5.7 per cent stake in HUL. Apollo Tyres: Gurugram-based Apollo Tyres on Wednesday said global private equity firm Warburg Pincus will invest $150 million in the company. Vedanta: The Vedanta group said it will seriously evaluate acquiring the government’s stake in BPCL but its decisions would depend on the valuation of assets.

Bharti Airtel: Bharti Airtel can withstand a potential Rs 35,586 crore, or about $5 billion, payout towards its statutory AGR dues on the back of its recent $3 billion fundraise, Moody’s Investors Service said on Wednesday. V-Mart: Value fashion and lifestyle products retailer V-Mart Retail plans to invest up to Rs 70 crore to open around 40 stores in 2020-21, a Chairman and MD Lalit Agarwal said. Shriram Transport: Shriram Transport Finance Company (STFC) has raised up to Rs 500 crore by issuing bonds on private placement basis. Thomas Cook: Thomas Cook (India) on Wednesday said its board has approved buyback of up to 26,086,956 fully paid up shares at a price of Rs 57.50 per share for a maximum aggregate amount of Rs 150 crore. IndiGo: IndiGo said it has responded to all queries from markets regulator Sebi regarding related party transactions and asserted that they were entered into in the best interests of the company. Bank consolidation: With the April 1 deadline for mega merger of 10 state-run banks into four fast approaching, Finance Minister Nirmala Sitharaman on Wednesday asserted that there is no uncertainty about the consolidation process which is going on as per the schedule. Telecom: The telecom department is looking into issues related to payment of statutory dues by mobile telephony services providers, Finance Minister Nirmala said on Wednesday.




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