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Stock Alert

RIL, Bharti Airtel, Tata Steel, Barbeque-Nation in spotlight
(08:44, 07 Apr 2021)

Shares of Reliance Industries (RIL) and Bharti Airtel will be in focus. Bharti Airtel announced an agreement with Reliance Jio lnfocomm to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) to Jio. Through this agreement, Airtel will receive a consideration of Rs 1037.6 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crore relating to the spectrum.

Tata Steel said that the company has achieved highest ever quarterly crude steel production of 4.75 mn tons with a 3% QoQ growth in Q4FY21. Full year FY21 production was lower by 7%YoY primarily due to the disruption caused by COVID-19 pandemic in H1FY21.

Tata Steel Long Products (TSLP) said that the company has achieved the highest ever quarterly crude steel production of 186 thousand tons with a growth of 7% QoQ and 19% YoY on the back of debottlenecking at steel melting shop and arcing.

INOX Leisure said that the company's board of directors approved to raise funds upto Rs. 300 crore through issue of securities either by way of a public issue or by way of rights issue or by way of a private placement (including but not limited through a qualified institutional placement).

Shares of Barbeque-Nation Hospitality will debut on the bourses today, 7 April 2021. The firm has raised Rs 453 crore from the recently concluded initial public offering (IPO) in price band of Rs 498-500.

Wonderla Holidays said that Wonderla Bangalore has announced the closure of water rides effective from 7th April till further notice, following the government directive. All land rides will be functional as normal.

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