Stocks in focus: Tech Mahindra, HDFC, Tata Chemicals, Tata Motors DVR, Coal India, Bharti Airtel

Nifty futures were trading 132.75 points or 1.19 per cent down at 11,015.80 on Singaporean Exchange, suggesting a terrible Thursday for BSE Sensex and Nifty 50. The scheduled derivatives expiry of September month contracts is likely to keep the session volatile today. Headline indices have been trading in the negative territory for five consecutive sessions. Stock-specific action, COVID-19 cases, oil prices, rupee movement and other global cues to set the market direction. “Market would continue to consolidate in near term as investors keep a  close watch on the rising Covid cases and delay in US stimulus. Cool down in volatility even after weakness in market indicates that some sort of range bound move along with capped upside could be seen for next coming sessions,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Tech Mahindra: The company informed that Tech Mahindra’s subsidiary has divested its stake in Altiostar Networks for $45 million (about Rs 331 crore) to Rakuten USA, Inc.  Tech Mahindra and Rakuten Mobile have signed an agreement, under which the Indian tech firm will be a preferred partner and provide technologies to support the development and deployment of mobile networks for global customers of Rakuten Communications Platform (RCP).

HDFC: Housing Development Finance Corporation Ltd informed that it will raise up to Rs 5,000 crore by issuing bonds on a private placement basis. The issue size for the secured redeemable Non-Convertible Debentures (NCDs) will be Rs 2,500 crore with an option to retain oversubscription of up to Rs 2,500 crore.

Tata Chemicals, Tata Motors DVR: Tata Sons has picked up stocks of Tata Chemicals and Tata Motors – DVR Ordinary. Over 22 lakh shares of Tata Chemicals were bought at Rs 287.58 per share while over 37 lakh shares of Tata Motors – DVR Ordinary were picked up at Rs 59.83 per equity share.

Bharti Airtel: As part of its strategy to scale up its cloud offerings, Bharti Airtel announced that it has picked up a strategic stake in tech startup Waybeo under the Airtel Startup Accelerator Program.

Coal India: Coal India has taken possession of 4,083.51 hectares of land for expansion of its mining projects, chairman and MD Pramod Agarwal said at the company’s 46th annual general meeting. The company has finalised contracts for heavy earth moving equipment worth over Rs 5,900 crore to ramp up production.

Mahindra CIE Automotive: Aditya Birla Sun Life Mutual Fund A/C Aditya Birla Sun Life Midcap fund sold 43.66 lakh shares, while Aditya Birla Sun Life Mutual Fund A/C Aditya Birla Sun Life Small and Midcap fund also sold 32.83 lakh shares of Mahindra CIE Automotive at Rs 140 per share. However,  Participaciones Internacionales Autometal Dos SL bought 79.30 lakh shares of the company at Rs 139.99 per share.