New Delhi: The shares of Bharti Airtel, Vodafone Idea, Ultratech Cement, NTPC, Alkem Laboratories, Raymond, and Yes Bank are expected to remain in focus on Tuesday.
Vodafone Idea, Bharti Airtel
The government kickstarted the auction of radio waves on June 25. The auction recorded a muted response with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. Reliance Jio, Bharti Airtel and Vodafone Idea (VIL) have applied for the auction of the radio waves. The radio waves are essential for high-speed 5G mobile services.
Ultratech Cement
Aditya Birla group firm UltraTech Cement announced that it has revised its offer to acquire a stake in UAE-based RAKWCT. The cement making company said it has revised the deal to 25 per cent.
“This offer was revised to 12.50 crore shares of RAKWCT representing 25 per cent of the share capital of RAKWCT,” UltraTech Cement said in a regulatory filing on Tuesday.
NTPC
NTPC announced that its board will consider a proposal to raise up to Rs 12,000 crore through the issuance of bonds. The PSU’s board will meet on in New Delhi on June 29 to consider issue of “secured/ unsecured, redeemable, taxable/tax-free, cumulative/noncumulative, non-convertible debentures up to Rs 12,000 crore”.
NTPC, which is India’s one of the leading power-generating companies, declared its total income for FY24 at Rs 1,81,166 crore against Rs 177,977 crore in 2022-23. The state-owned company’s PAT stood at Rs 21,332 crore.
Alkem Laboratories
Alkem Laboratories share price is expected to remain in focus a day after promoter Seema Singh sold shares of the company for Rs 177 crore through an open market transaction. The National Stock Exchange (NSE) data revealed that Singh offloaded 3,58,695 shares. The shares were picked up by Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, ICICI Prudential Life Insurance Company and Morgan Stanley Asia Singapore.
Raymond
Raymond announced plans to open over 100 stores of its ethnic wear brand ‘Ethnix by Raymond’. At present there are more than 114 stores of Ethnix. “As the Indian weddings are getting glitzier and people are celebrating the various occasions, we have expanded are our store footprint by taking Ethnix by Raymond to the length and breadth of the country,” Chairman and Managing Director Gautam Hari Singhania said while addressing shareholders.
Yes Bank
Yes Bank has asked at least 500 of its employees to leave the company as a part of its restructuring exercise, reports said. The sacking of employees was done at the advice of a multinational company which is advising the private sector lender on restructuring. It is being said that the bank plans to move more towards digital banking and cut down on manual operations.
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Stocks to watch today: The shares of companies including, Bharti Airtel, Vodafone Idea, Ultratech Cement, NTPC, Alkem Laboratories, Raymond, and Yes Bank are expected to be in news on Tuesday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
