Stocks To Watch: Bharti Airtel, Procter & Gamble Health, M&M
The domestic stock markets are likely to open in the green on the back of positive global cues. Wall Street rallied on Friday, pushing the S&P and the Nasdaq to record closing highs for the fourth time during the week, as US Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium calmed fears over the tapering timetable. Asian shares started the week with gains after U.S. Federal Reserve Chairman Jerome Powell struck a more dovish tone. And trends on SGX Nifty indicate a positive opening for the Nifty, with a 86-point gain.
The benchmark indices ended at record closing high on Friday; the BSE Sensex rose 175.62 points to 56,124.72 and the Nifty climbed 68.30 points to 16,705.20.
Bharti Airtel
Bharti Airtel's board has approved raising up to Rs 21,000 crore by way of rights issue, at a price of Rs 535 per share. The mega fundraising is bound to give more firepower to Airtel as the company takes on rivals in the fiercely-competitive Indian telecom market.
Procter & Gamble Health
Procter & Gamble Health has reported a 30.63 per cent decline in net profit to Rs 33.89 crore for the fourth quarter ended June 30. The company had reported a net profit of Rs 48.86 crore for the corresponding period a year ago.
Mahindra & Mahindra
Mahindra & Mahindra has bagged a contract worth Rs 1,349.95 from the Ministry of Defence for manufacturing integrated anti-submarine warfare defence suits for modern warships.
Phillips Carbon
Phillips Carbon's board of directors has approved fund-raising by way of private placement or preferential issue of shares.
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