Stocks to watch: IDFC, Infosys, Zee Entertainment, Adani Ports, Airtel

Nifty futures on SGX were trading 92 points higher at 17,645 around 8.25 am, indicating a firm start for the benchmark indices on Thursday.

Here are the top stocks to track in today's session:

IDFC: Shareholders of IDFC Ltd on Wednesday rejected the re-appointment of former CAG Vinod Rai as non-executive director of the company. Rai is currently non-executive chairman of the firm.

ZEEL: The merger of Zee Entertainment Enterprises with Sony Pictures Network India (SPNI) will see the former's promoters get an additional 2 per cent stake as part of a non-compete agreement, while the appointment of Punit Goenka as MD and CEO of the merged entity was an "integral" part of the deal, Zee investors were informed on Wednesday.

Adani Ports: Adani Ports and Special Economic Zone (APSEZ) on Wednesday said it has acquired Andhra Pradesh government's 10.4 per cent stake in Gangavaram Port Limited (GPL) for Rs 644.78 crore. GPL is located in the northern part of Andhra Pradesh next to the Vizag port.

Airtel: Telecom operator Bharti Airtel's around Rs 21,000 crore rights issue will open on October 5, according to a regulatory filing. The company has fixed September 28 as the record date for rights entitlement in the issue. 

Jubilant Ingrevia: Its subsidiary Jubilant Life Sciences International Pte Ltd has divested its 10 per cent stake in Safe Foods Corporation for a consideration of USD 18.2 million (around Rs 134.2 crore).

Ashok Leyland, Federal Bank: Commercial vehicle maker and Hinduja Group flagship Ashok Leyland on Wednesday announced signing an initial pact with private sector lender Federal Bank for a strategic partnership for vehicle financing. The tie-up will enable both Ashok Leyland and Federal Bank to offer tailor-made financial solutions to customers, a release said.

Vodafone Idea: The company will seek board approval afresh to raise funds after the government issues detailed guidelines on telecom reform measures, and its promoters will get a chance to participate in the fundraising round, a top company official said on Wednesday. Vodafone Idea MD and CEO Ravinder Takkar told PTI that the company is gearing up to invest in the business and compete in the market.

RattanIndia Enterprises: The company on Wednesday announced the launch of its drone business with its wholly-owned subsidiary NeoSky India Limited. NeoSky India will develop a cutting edge drone system platform, focusing on industry applications in India, the company said in a statement.

Infosys: The company on Wednesday announced a strategic collaboration with Amazon Web Services (AWS) to develop quantum computing capabilities and use cases. Infosys will use 'Amazon Braket' to explore and build multiple use cases in quantum computing as part of Infosys Cobalt cloud offerings.

Amtek Auto: BSE and National Stock Exchange of India approved the delisting of equity shares of the company pursuant to resolution Plan approved by NCLT. The company will delist from the exchanges w.e.f. September 27, 2021. Insolvency Professional of the company has appointed Ram Singh Poswal as Chief Executive Officer of the company.

Sarda Energy & Minerals: Chhattisgarh State Electricity Regulatory Commission has approved a provisional tariff for the 113 MW hydropower project of subsidiary Madhya Bharat Power Corporation, considering 85% of the cost of the project incurred as of March 2021 with return on equity of 15.5 per cent per annum.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel