Stocks To Watch: Reliance Industries, Paytm, SBI, Hero MotoCorp

Trends on SGX Nifty indicated a higher opening for the domestic markets.

New Delhi: The domestic stock markets are expected to trade in positive zone on Monday, taking cues from the global markets. Asian markets regained a little composure on Monday as investors settled in for a few weeks of uncertainty on whether the Omicron variant would really derail economic recoveries and the tightening plans of some central banks. Trends on SGX Nifty also indicated a higher opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 1.50 per cent or 254 points to 17,146.20.

The benchmark BSE Sensex had plummeted 1,687.94 points or 2.87 per cent to close at 57,107.15 on Friday; while the broader NSE Nifty had plunged 509.80 points or 2.91 per cent to close at 17,026.45.

Here Are Stocks To Watch During Today’s Session:

Reliance Industries: After Bharti Airtel and Vodafone Idea, Reliance Jio has announced up to 21 per cent hike in its prepaid tariffs from the next month. Airtel and VIL have been maintaining that average revenue per user needs to go up in the range of Rs 200 to Rs 300 per month for sustaining business but they have been unable to hike tariff due to competitive pressure.

State Bank of India: The Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on the bank for contravention of provision.

One97 Communications (Paytm): The digital payments firm’s has said that its net loss for the three months through September widened by 8.4 per cent as expenses rose. Paytm, posting its earnings publicly for the first time since this month’s stock market debut, reported a consolidated net loss of Rs 474 crore ($63.2 million) compared with Rs 437 crore in the same period a year earlier. Revenue rose 49.7 per cent to Rs 1,135 crore.

Hero MotoCorp: The company has appointed former SBI chairman Rajnish Kumar as an Additional and Independent Director, and Vasudha Dinodia as an Additional and Non-Executive Director.

Punjab National Bank: The state-owned lender has put up a Madhya Pradesh-based steel and agriculture company for sale to recover its outstanding dues of nearly Rs 200 crore. The National Steel and Agro Industries Ltd (NSAIL) has a balance outstanding of Rs 199.90 crore to PNB.

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