Stock to Watch on 26 July 2019

After Nifty was observed trading along its major support level, it is likely that the market will continue this flat bearish trend. In such situations, below are some stocks to watch in Indian stock market for the traders.  

NTPC:

State-owned power producer NTPC on Wednesday said it has signed a pact with BHEL to set up an 800 MW technology demonstration plant (TDP) at its power plant in Chhattisgarh.

YES Bank:

Ratings agency Icra downgraded YES Bank’s long-term ratings on various bonds, while retaining a negative outlook. WestBridge Capital Partners, Farallon Capital and GIC, Singapore’s sovereign wealth fund, are likely to be among the top investors in the upcoming share sale by cash-starved lender Yes Bank

SBI Life:

Value Line, an affiliate of KKR Asian Fund offloaded 65 lakh shares of SBI Life Insurance for about Rs 504 crore through open market transactions.

Bharti Airtel:

The Digital Communications Commission (DCC), the telecom department's apex decision-making body approved imposing a cumulative penalty of Rs 3,050 crore on Bharti Airtel for not providing points of interconnection to Reliance Jio.

Syndicate Bank:

The state-run bank reported narrowing down of its net loss to Rs 980.46 crore in the quarter ended June 2019 due to a fall in provisioning for bad assets.

JSW Steel:

India’s second-largest private steel manufacturer plans to raise $500-700 million from overseas investors as the company aims to lower borrowing costs amid declining yields. The funds could be raised either through loans or through a bonds issue.

IDFC First Bank:

The lender reported a net loss of Rs 617 crore for the April-June quarter of the current fiscal year on account of higher provisioning.

Shriram Transport Finance:

NBFC firm Shriram Transport Finance Co reported nearly 11 per cent rise in its net profit to Rs 634.25 crore for the first quarter ended June 30.

DHFL:

Beleaguered housing finance company DHFL again defaulted on bond repayments to the tune of Rs 8.07 crore on July 23, according to an exchange filing.

Vodafone Idea:

The telecom giant for the country is facing penalty charges by the telecom regulator for the country for not providing requisite information to Jio. The penalty has been recently approved for the company in the likely range of Rs. 3050 crores.

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