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Stocks in Focus: SBI, HDFC Twins, Reliance and Others

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The GIFT Nifty, earlier known as SGX Nifty, recorded a positive debut on the international bourse, NSE IFSC, on Monday, indicating a positive opening for the domestic indices. 

On Friday, the benchmark indices NSE Nifty 50 and S&P BSE Sensex ended the trading session on record highs after hitting fresh all-time highs during the day. Nifty 50 closed at 19,189, nearly 217 higher than the previous close. The Sensex settled over 800 points higher at 64,718 points. 

Here is a list of stocks that are likely to be in focus today. 

Bharti Airtel: Lion Meadow Investment Ltd, a Warburg Pincus affiliate, offloaded a 0.3% stake in the telecom major Bharti Airtel for Rs 1,649 crore on Friday through an open market transaction. 

HDFC, HDFC Bank: The merger of HDFC Ltd and HDFC Bank Ltd was completed on July 1 to make HDFC the biggest bank in India and the fourth-largest in the world by market capitalisation. The share swap record date is July 13, and trading for HDFC stocks will remain closed until then. 

Reliance Industries Ltd: On Friday, RIL and its partner bp Plc announced that the MJ Oil and Gas field production in the KG-D6 block in the Bay of Bengal has commenced. The production will help scale up India’s output of clean fuel to over 100 million cubic metres a day, with the field producing a third of India’s domestic gas production at its peak.

State Bank of India: The bank rolled out the updated version of its YONO app on Saturday with new UPI features. Further, Kameshwar Rao Kodavanti has taken charge as the public sector lender’s Chief Financial Officer (CFO) from 1 July after the resignation of Charanjit Surinder Singh Attra from the position. 

Vedanta: Markets regulator SEBI fined the Anil Agrawal-led company Rs 30 lakh for violating disclosure norms as it made false disclosures about its plan to enter into the semiconductor business. Additionally, the company has announced that it will review its steel and steel-related raw materials businesses to evaluate various options to increase stakeholder value and might consider a strategic sale. 

Aditya Birla Capital: The financial services company has successfully raised Rs 1,250 crore through the preferential issue of shares to promoter entities Grasim Industries and Surya Kiran Investments and Rs 1,750 crore through QIP at an issue price of Rs 175 per share buyers including Capital Group, BlackRock, Abu Dhabi Investment Authority, Norges Bank, Massachusetts Institute of Technology, and SBI Life.

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