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Xtreme Bundle to keep Airtel, other telecom stocks in focus
Shares of telecom majors such as Bharti Airtel, Reliance Industries (due to Jio arm) and Vodafone Idea will remain in focus, as Bharti Airtel unleashed Xstream Bundle, to take competition head-on. The Airtel Xstream Bundle combines the power of Airtel Xstream Fiber with speeds up to 1 Gbps, unlimited data, the first of its kind Airtel Xstream Android 4K TV Box and access to all OTT content.
The Airtel Xstream bundle is available to customers starting September 7, 2020.
All Airtel Xstream Fiber plans now come with unlimited data allowances. Customers no longer have to worry about running out of their data allowances, while bingeing on high-quality digital content over the Airtel Xstream Box. To drive the penetration of home broadband in India, Airtel makes broadband even more affordable. X stream Fiber plans will now start at ₹499.
Will arms' mergers add strength to ITC?
The board of ITC on Friday approved amalgamation of Sunrise Foods Private Ltd (SFPL), Hobbits International Foods Private Ltd (HIFPL) and Sunrise Sheetgrah Private Ltd (SSPL) with itself.
The schemes of amalgamation, which are subject to approvals as necessary, will take effect from July 27, 2020.
SFPL is engaged mainly in the business of spices under the trademark 'Sunrise'. HIFPL and SSPL are involved in activities which are ancillary and incidental to the primary business operations of SFPL.
ITC is a multi-business corporation involved in several business segments, including Fast-Moving Consumer Goods ('FMCG'), Hotels, Paperboards & Packaging and Agri-Business.
SFPL, HIFPL and SSPL, being wholly-owned subsidiaries, are related parties of ITC. Accordingly, the transfer of all assets, liabilities, rights and obligations, as well as the transfer of employees, of SFPL, HIFPL and SSPL to ITC will be done at arm's length.
The amalgamation of SFPL with ITC will augment ITC's product portfolio and is aligned with its aspiration to significantly scale up the spices business and expand its footprint across the country. In contrast, the amalgamation of HIFPL and SSPL will help ITC in rationalising multiple entities to ensure optimal business structure.
Shareholders will closely monitor further development.
Delisting process to anchor Allcargo Logistics
The board of Allcargo Logistics Ltd has approved voluntarily delisting the company's shares from stock exchanges. Promoters Shashi Kiran Shetty and Talentos Entertainment Pvt Ltd today informed the company that the floor price of the proposed delisting has been set at ₹92.58 a share.
The board also approved merchant banker Inga Ventures Pvt Ltd's due diligence report on the delisting.
Last week, Allcargo had appointed Inga Ventures for the due diligence report so that the company could discuss in detail and chalk out a plan to delist the shares after the company had received a letter from its promoters of their intention to delist the company.
The promoters collectively hold 70.01 per cent stake in the company.
Besides, Allcargo Logistics, shares of Gati will also remain in focus, as Allcargo Logistics is the current promoter of the company after a recent buy out from its erstwhile owners.
Key results: CG Power, Naukri, Future Lifestyle, GIC, Hindustan Oil Exploration
About 50 companies will declare their quarterly results on Monday. Among them include actively tracked by analysts and investors include Artefact Projects, Aurionpro Solutions, Bimetal Bearings, CG Power & Industrial Solutions, Future Lifestyle Fashions, General Insurance Corp, Grauer & Weil, Gujarat State Finance, Hindustan Oil Exploration, ISMT, Kings Infra Ventures, Info Edge (Naukri), Parag Milk, PG Foils, RPP Infra, Vikas WSP and Zurai Global.
Ratnamani Metals may shine on new orders
Ratnamani Metals & Tubes Ltd has received two domestic orders aggregating to ₹190 crore. The orders, which were bagged by its carbon steel division for supply of coated CS Pipes to the oil & gas sector, have to be completed between December 2020 and June 2021.
The company, however, did not disclose the client names.
Shareholders will closely monitor the execution of the orders.
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