Stocks to Watch: Reliance Industries, TCS, MCX, Tata Motors, Titan, Bharti Airtel
Reliance Industries: Reliance Retail Ventures Ltd (RRVL) on Friday said that sovereign wealth fund Abu Dhabi Investment Authority (ADIA) will invest an additional ₹4,966.80 crore in the retail unit of Reliance Industries Ltd, following a 1.18% stake purchase in the company in October 2020. The fresh investment values RRVL at a pre-money equity value of ₹8.38 trillion, making it among India’s top four most valuable companies. TCS: Tata Consultancy Services Ltd informed the stock exchanges on Friday that its board will consider a proposal for a share repurchase on 11 October, when the company declares its second-quarter earnings.
Mumbai-headquartered TCS undertook an ₹18,000-crore share buyback program last year, under which it bought back four crore shares at ₹4,500 each. In FY23, TCS returned ₹42,079 crore or 108.2% of its free cash flow to shareholders through dividends. MCX: Multi Commodity Exchange of India (MCX) received approval from the SEBI technical advisory committee to go live with its commodity derivative platform (CDP), said MCX on Sunday.
Earlier, the Securities and Exchange Board of India (SEBI) had advised MCX to postpone the proposed go-live of CDP as it involved technical issues. At that time, the matter was sent for discussion with the SEBI Technical Advisory Committee. However, SEBI's tech panel gave the green signal for the launch of CDP.
Read more on livemint.com
