Tuesday, March 31, 2020

Stocks to Watch: Vedanta, Britannia, JSW Energy, Fortis Healthcare, Airtel

Pradeep Gaur/Mint

·     Federal Bank's board has approved investing ₹148 crore in its arm Fedbank Financial Services
·         Brickwork Ratings has reaffirmed its ratings on commercial papers of JSW Energy

Here is a list of top 10 stocks that may be in focus on Tuesday:
Vedanta: The Anil Agarwal-led company on Monday said its mining operations and the oil & gas business, which manufacture essential commodities, will continue across all sites during the lockdown to contain the spread of coronavirus.
Britannia: The fast-moving consumer goods (FMCG) major on Monday said the lockdown ordered by the Centre in the wake of Covid-19 outbreak has disrupted its operations. The company also said it is working with authorities to restore operations.
Federal Bank: The private lender on Monday said its board has approved investing ₹148 crore in its subsidiary Fedbank Financial Services Ltd through rights issue to infuse capital.
Bharti Airtel: The telecom operator on Monday announced measures--unrestricted incoming services till 17 April and ₹10 talk time--to cover more than 80 million low-income mobile customers from the impact of the coronavirus crisis.
JSW Energy: Brickwork Ratings has reaffirmed its ratings on commercial papers of the company. Separately, ratings agency CARE has reaffirmed its ratings on bank facilities of Barmer Lignite Mining Company Ltd, a subsidiary of JSW Energy Ltd.
Fortis Healthcare: ICRA has upgraded the company's long-term rating from BBB+ to A-. The short-term rating of the company has been upgraded from A2 to A1. Both the ratings have been placed under watch with developing implications.
Bharti Infratel: The company's board has approved the re-appointment of DS Rawat as the managing director and chief executive officer (CEO) for six months till 30 September.
GG Engineering: The company on Monday said it has received an order from Western Railway to supply, install, operate and maintain 25 plastic bottle crushing machines for five years at various locations in 16 stations across Mumbai.
Jubilant Industries: The company has suspended manufacturing operations of Jubilant Agri and Consumer Products Ltd at its Savli plant in Gujarat until further directive from the government due to the coronavirus outbreak.
Future Retail: The Bombay High Court has granted interim relief to the company by restraining IDBI Trusteeship Services Ltd from selling the retailer’s shares that were pledged against the debentures that it had issued.

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