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Stocks to Watch| State Bank of India, Vodafone Idea, Reliance Industries & much more

Share Market

Stocks to Watch: Last week the share market ended on an overall negative note. On Friday the Sensex closed at, 38,857 points, 634 points lower than the previous trading while Nifty closed at 11,334 points with a loss of 194 points. During Monday’s trading session following stocks are expected to be in focus in the share market:

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State Bank of India

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SBI

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State Bank of India (SBI) is India’s largest bank and it is planning to bring up a voluntary retirement scheme (VRS). Under VRS the employees who do not get promoted beyond a certain level get an option to leave their post and get out. The bank said that it will discuss the framework of this scheme with that of the government.

Vodafone Idea

Vodafone Group has cleared its stance that it will not invest any new equity into Vodafone Idea.

Manufacturing: A government panel has cleared $100-billion worth of mobile export proposals from global manufacturers. Applications by iPhone contract makers–Foxconn, Pegatron, Wistron–as well as Samsung, Karbonn, Lava to export mobile phones from the country have been cleared by an empowered group of ministers.

Reliance Industries Ltd.

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Reliance Industries (RIL) during the session released the information related to separating its oil-to-chemicals business.

Maruti Suzuki Corp

Stocks

Surrendering against the COVID-19 pandemic, Suzuki Motor Corp has planned to postpone its target to sell at least 5 million cars per year in India by 2030. The company said that the recovery in the domestic automotive is far away. The company holds its largest unit in India and is facing to run it properly. The company has also cut-off the capital expenditure plans for this ongoing fiscal year.

Automobile Stocks

Automobile Stocks are the much-focused stock as road transport and highways minister Nitin Gadkari informed that the much-awaited vehicle scrappage policy is in its final phase and it will be rolled out soon.

Also, read KKR will acquire 54 per cent stake in JB Chemicals for nearly $500 million