Admin Reporter- POOJA1

Nov 24 2020

Stocks to watch: IT, aviation stocks, Coal India, RIL, AU Small Fin Bank

Tuesday, 24 November 2020

IT stocks: IT spending in India is projected to rise 6 per cent to $81.9 billion in 2021 compared to this year on the back of growth across segments like enterprise software and IT services, research firm Gartner said on Monday. IT spending in 2020 is expected to total $79.3 billion, down 8.4 per cent from 2019.




Exide Industries: The company has increased stake in its joint venture with Swiss firm Leclanche from 77.87 per cent to 80.15 per cent with a further investment of Rs 33.17 crore by way of subscription to equity shares of the JV.



Ingersoll-Rand (India): Ingersoll-Rand INC proposes to sell up to 1,425,798 equity shares (representing up to 4.52 per cent of the total issued and paid-up equity shares capital of the company on November 24 and 25. The floor price for the sale will be Rs 578.6 per equity share.




Aviation, hotel stocks may remain in focus the Maharashtra government on Monday imposed restrictions on all air and rail passengers arriving from Delhi, Gujarat, Rajasthan, and Goa. Passengers travelling from these states will have to obtain a negative RT-PCR test report before starting. Airline and travel sector executives said the move would discourage people from travelling and adversely impact demand.
Biocon has entered into an agreement on 21 November 2020 for the acquisition of a 26% equity stake on a fully diluted basis in Hinduja Renewables Two (HRTPL), a special purpose vehicle formed for the purpose of power generation and developing a captive power plant as per Electricity laws.

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