FMCG stocks are likely to be in focus on the back of price hike announced, while airline shares too may be on investor’s radar following the fresh world-wide Coivd-19 scare
The markets are likely to attempt a pull-back in early trade this morning following Friday’s sell-off as indicated by the SGX Nifty. As of 08:30 AM, the December Nifty futures on SGX were quoted at 17,147 as against the Nifty spot close of 17,026 on Friday. Meanwhile, here the top stocks to focus in trade today.
Reliance: The company’s telecom arm, Reliance Jio announced a 20 per cent hike in tariff on Sunday, joining industry rivals Bharti Airtel and Vodafone Idea (Vi) which went for a price revision earlier last week. Jio’s new rates will come into effect from December 1.
ITC: The FMCG giant has agreed to acquire 16 per cent of the share capital of Mother Sparsh Baby Care Private Limited (‘Mother Sparsh’), a premium ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment. The latter said, that it was raising Rs 20 crore in Series A funding from ITC and the company plans to deploy the funds towards enhancement of its R&D capabilities, digital capabilities, driving new product launches and expanding the team