Stocks to watch: Bharti Airtel, SpiceJet, SAIL, Vodafone Idea, Wipro and others

Stocks to watch, Polycab
Image Source: Business Standard

The Singapore Exchange’s Nifty futures contract forecasts a flat opening for domestic shares. The contract was worth 17,492.50 at the time of writing, up 4.5 points or 0.03% from the previous close.

Vodafone Idea: The Vodafone Idea Board of Directors has granted 12,000 unsecured, unrated, and unlisted optionally convertible debentures (OCDs) with a face value of Rs 10,00,000 each to ATC Telecom Infrastructure.

SpiceJet: Carlyle Aviation Partners will purchase a 7.5 percent interest in SpiceJet by converting outstanding debt and acquiring a stake in the cargo sector in order to lower the airline’s debt by $100 million. Apart from that, the airline would raise up to Rs 25,000 crore through the qualified institutional buyer (QIB) method.

Bharti Airtel: Chairman Sunil Bharti Mittal stated that due to the low return on capital in the telecom industry, a rate increase is expected by the middle of this year. Despite robust balance sheets and significant capital infusions, this industry’s return on capital is quite poor, he noted.

SAIL: The company’s subsidiary, Bhilai Steel Factory, has received orders from the UAE to produce huge quantities of exceptional-grade plates. The company has secured a 10,000-tonne export order for plates that meet European and American criteria.

Wipro: The IT behemoth launched four key global business lines as it seeks to strengthen alignment with customers’ shifting business objectives and capitalise on new possibilities in high-growth market areas. The new approach is centred on cloud computing, corporate technology, and business transformation.

Tanla Platforms: At the Mobile World Congress (MWC) Barcelona 2023, the company unveiled Wisely ATP, a one-of-a-kind SMS phishing security solution.Wisely ATP is a one-stop platform for thoroughly combating the threat of SMS phishing.

Brigade Enterprises: The company announced ambitions to expand its managed office brand, BuzzWorks.  According to management, BuzzWorks provides a value-added service to our office occupiers who are searching for flexible office space.

Mastek: The business has signed an agreement with Netail to bring AI-powered digital transformation to the retail and consumer industries. According to the management, the alliance will assist e-commerce and omni-channel businesses in optimising their retail value chains and attracting, converting, and retaining digital consumers.


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