Stocks to Watch: RIL, Adani Ent, IDFC First, Zee Entertainment, Tata Motors
Reliance Industries: Reliance AGM 2023 date has been fixed on 28th August 2023. The Sensex heavyweight is expected to unveil its business blueprint for the future. According to market experts, after the demerger of Jio Financial Services Ltd (JFSL) from RIL, the market is expecting some concrete announcements in regard to Future Retail IPO and Reliance Jio IPO.
They said that the launch of 5G devices at a reasonable price and some succession from the company in this regard is also expected. Adani Enterprises: A single market participant took a derivatives position worth an estimated ₹600 crore in Adani Enterprises Ltd (AEL), flagship of the Adani Group and a Nifty 50 stock, just days before India’s markets regulator submitted its status report on the Adani probe to the Supreme Court on 25 August. While it’s unknown whether the position is a hedge or a punt, market experts said such positions are normally taken in anticipation of a sharp price move based on an event.
IDFC First Bank: IDFC First Bank has won the title sponsorship rights for all BCCI matches for domestic and international cricket for the next three years for ₹4.2 crore per match, two people aware of the matter said. The BCCI had issued its invitation to tender for the rights earlier this month after Mastercard Inc. exited in March as the title sponsor for Team India.
The base price was kept at ₹2.4 crore per match. The only other bidder was OTT service SonyLIV, which bid for ₹2.7 crore per match, one of the two persons said on the condition of anonymity. Zee Entertainment: Punit Goenka, former managing director & chief executive officer of Zee Entertainment Enterprises Ltd, on Friday moved the Securities Appellate Tribunal (SAT), challenging a recent
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