The Indian market is likely to open higher Friday racking a positive trend in the global peers. Investors will keep an eye n the Reserve Bank of India’s bi-monthly monetary policy to be announced today. At 8:05 am, the SGX Nifty was trading 37.50 points or 0.28 percent higher at 13,240.50, indicating a positive start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. PSU Banks: Fitch affirmed Bank of Baroda, Bank of India, State Bank of India and Punjab National Bank’s IDR rating at ‘BBB-‘, with a Negative outlook. Fitch also affirmed IDBI Bank’s IDR rating at ‘BB+’ with a Negative outlook, but upgraded viability rating to ‘ccc+’.
2. Telecom stocks: Bharti Airtel added 3.77 million new subscribers while Reliance Jio added 1.46 million new subscribers in September 2020. Vodafone Idea lost 4.65 million subscribers during the month. MTNL and Reliance Communications lost 5,784 and 1,324 customers, respectively. Bharti Airtel has pipped Reliance Jio in new mobile subscriber addition in September after a gap of four years, according to data published by telecom regulator TRAI.
3. State Bank of India: The bank said its mobile application YONO was impacted due to a system outage and steps were being taken for restoration of uninterrupted services.
4. Hero MotoCorp: Only 10 of Harley Davidson’s 33 existing dealers have gone ahead with becoming a part of Hero MotoCorp’s dealership network.
5. NMDC: Karnataka government has issued orders allowing iron ore mining to be resumed in Donimalai mines by NMDC.
6. Granules India: The company has received approval from USFDA for generic of Cuprimine, Penicillamine capsules.
7. Orient Cement: The company will acquire a 26 percent stake in AMPSolar Systems for Rs 4.5 crore.
8. Canara Bank: The state-run lender has raised its rates for fixed deposits with a maturity period of at least two years by 0.2 percent to 5.4 percent. For fixed deposits with tenure of 3-10 years, the interest rate has been increased to 5.5 percent from 5.3 percent.
9. Union Bank of India: The bank will hold an extraordinary general meeting (EGM) later this month to seek shareholders’ approval for raising up to Rs 6,800 crore equity capital.
10. NCC: Rakesh Jhunjhunwala and family has increased stake in the company to 13.7 percent from 12.14 percent as of September 2020.