Stocks to Watch: RIL, Tech Mahindra, SBI, auto shares, Future Retail – Livemint

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On Friday, Sensex settled 765 points lower to a little below 57,700. Nifty50 index shed over 200 points to end below the 17,200 mark. (Photo: iStock)Premium
On Friday, Sensex settled 765 points lower to a little below 57,700. Nifty50 index shed over 200 points to end below the 17,200 mark. (Photo: iStock)

2 min read . Updated: 06 Dec 2021, 08:11 AM IST Rashmi Sanyal

  • Markets will eye the outcome of the RBI’s monetary policy committee meeting, with statement due on Wednesday. Economists at Nomura and Barclays expect a hike in the reverse repo rate given economic recovery is well underway

New Delhi: Here is a list of stocks that could be in focus on Monday:

Reliance Industries: Household goods salesmen have threatened to disrupt supplies to kirana stores if consumer companies provide products at lower prices to Reliance Industries Ltd (RIL). The salesmen representing companies such as Reckitt Benckiser Group PLC, Unilever PLC, and Colgate-Palmolive Co. said their sales had dropped 20-25% in the last year as such stores were increasingly partnering with RIL.

Tech Mahindra: The IT services major has acquired US remote customer experience solutions provider Activus Connect for $62 million. The acquisition is expected to bolster its capabilities in emerging workplace solutions and strengthen its end-to-end customer experience portfolio.

State Bank of India: SBI has invited bids from asset reconstruction companies, and other financial institutions to sell the non-performing account (NPA) of KSK Mahanadi Power Company, with total outstanding against the company standing over 4,100 crore.

Auto stocks: With input costs continuing to rise, automakers like Tata Motors, Honda and Renault are looking to increase vehicle prices from January next year. Already, car market leader Maruti Suzuki and luxury automakers Audi and Mercedes-Benz have announced to hike prices next month.

Future Retail: Banks have held talks with Future Retail Ltd as they fear the troubled retailer may not be able to pay its dues on time. Since the loan has been restructured once already, a default would mark it as a failed recast, forcing them to make provisions of 25% once it turns bad. Future Retail must pay by 31 December its first loan instalment after a 19-month moratorium that ended on 30 September.

Tata Group: The conglomerate is blueprinting a 100-day plan for Air India to improve the operational and service standards of the airline, under the watch of an expatriate chief executive, with the name of former Delta president Fred Reid emerging as the favourite among the shortlisted candidates for the CEO post.

Lupin: The company has entered into a distribution and marketing agreement with Biomm SA in Brazil. Under the agreement, Biomm will distribute and market biosimilar Pegfilgrastim in Brazil.

Eris Lifesciences: The company has formed a joint venture with MJ Biopharm to enter the insulin segment. The 70:30 JV, with Eris holding a 70% stake, will engage in marketing and distribution of human and analogue insulins (Glargine, Aspart, Lispro) and GLP-1 agonists (Liraglutide) among other biopharma products in India.

Aurobindo Pharma: The drug major is recalling products in the US market, the world’s largest market for medicines, due to manufacturing issues. As per an enforcement report issued by the US Food and Drug Administration (US FDA), Aurobindo’s US-based unit is recalling 7,296 containers of hypertension drug Carvedilol tablets.

Indraprastha Gas: Indraprastha Gas Limited has hiked CNG prices in Delhi, Haryana and Rajasthan, effective immediately.

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