Top Stocks to Watch: HDFC Bank, Airtel, RIL, and More

Strategic Insights -

HDFC Bank has received clarifications from the Reserve Bank of India to hold commercial papers issued by HDFC Ltd until their maturity, but has been asked not to roll over or re-issue them after the effective merger date. Meanwhile, Bharti Airtel is planning an offshore bond issue to raise up to $1 billion, which will be used to refinance high-cost debt and cover some of its 5G capital expenditure requirements. On the other hand, Tata Steel is planning a consolidated capital expenditure of ₹16,000 crore for its domestic and global operations during the current financial year. These developments are among the key factors making these stocks worth watching today.

Key Takeaways:

  • HDFC Bank has been granted clarifications by the RBI to hold commercial papers issued by HDFC Ltd until their maturity, but cannot roll over or re-issue them after the effective merger date.
  • Bharti Airtel is planning an offshore bond issue to raise up to $1 billion, which will be used to refinance high-cost debt and cover some of its 5G capital expenditure requirements.
  • Tata Steel plans to spend ₹16,000 crore on consolidated capital expenditure for its domestic and global operations during the current financial year.
  • Kalyan Jewellers has witnessed significant buying and selling in the open market, with Highdell Investment offloading nearly ₹725 crore worth of stake and BNP Paribas investing nearly ₹190 crore.
  • JBM Auto/SML Isuzu is in talks to acquire a controlling stake in automaker SML Isuzu.
  • Japan's Sumitomo Corporation is exiting its operations in India, with talks at an advanced stage.
  • Titagarh Rail Systems Ltd and Ramkrishna Forgings plan to jointly set up one of Asia's largest train wheel manufacturing plants in India, making India self-reliant in rail wheel manufacturing.

Statistics:

  • ₹16,000 crore: Tata Steel's planned consolidated capital expenditure for its domestic and global operations during the current financial year.
  • $1 billion: Amount that Bharti Airtel is planning to raise through an offshore bond issue.
  • ₹725 crore: Stake offloaded by Highdell Investment in Kalyan Jewellers.
  • ₹190 crore: Investment made by BNP Paribas in Kalyan Jewellers.
  • 2023-2032: Period during which Reliance Industries/ONGC is expected to achieve a mid-decade peak in India's oil and gas production.

Sources:

  • The Hindu Business Line: "HDFC Bank gets clarifications from RBI" (no date)
  • The Economic Times: "Bharti Airtel may raise up to $1 billion through offshore bond issue" (no date)
  • Business Standard: "Tata Steel to spend ₹16,000 crore on capital expenditure" (no date)
  • Business Today: "Kalyan Jewellers witnesses significant buying and selling" (no date)
  • Reuters: "JBM Auto/SML Isuzu in talks to acquire SML Isuzu" (no date)
  • The Financial Express: "Sumitomo Corporation to exit India" (no date)
  • Livemint: "Titagarh Rail Systems and Ramkrishna Forgings to set up train wheel manufacturing plant" (no date)