Here are the top stocks that are likely to be in focus today:
Affle India: The company at its board meeting approved the fundraising of upto Rs 1,080 crore.
IOC: Indian Oil Corporation (IOC) will invest Rs 32,946 crore to expand Panipat refinery capacity to 25 million tonne per year from 15 million tonne per year earlier.
Auto stocks: Auto sales figures would start trickling in from March 1 onwards. Car and tractor makers are likely to report a strong set of auto sales numbers for the month of February, but growth in two-wheeler sales may not be as strong, according to analysts. Stock-specific action is expected in the auto companies on the back of these numbers.
Reliance Industries MD Mukesh Ambani said that acquiring majority equity stake in skyTran reflects the company s commitment to invest in building futuristic technologies.
After the acquisition, RSBVL s shareholding in skyTran increased to 54.46% on a fully diluted basis.
skyTran is a technology company incorporated under the laws of Delaware, United States of America (USA) in 2011. skyTran has developed breakthrough passive magnetic levitation & propulsion technology for implementing personal transportation systems aimed at solving the problem of traffic congestion globally.
The technology has been developed by skyTran to create Smart Mobility Solutions. The proposed skyTran transportation systems would consist of computercontrolled passenger pods running on its state-of-the-art, patented Passive Magnetic Levitation technology and would use cutting edge IT, Telecom, IoT and Advanced Materials technologies to transport passengers in a fast, safe, green, and economical manner. It is also supported by notable global venture capital investors such as Innovation Endeavors.
Updated Mar 01, 2021 | 09:09 IST
Telecom stocks will be in focus as the spectrum auctions begin today, also watch out for auto stocks as February sales data will pour in during the day. Stocks to track in trade for March 1, 2021: Jio, Bharti Airel, RIL, Nestle, IOC, Tata Chemicals | Photo Credit: BCCL
Reliance Jio, Vodafone, Bharti Airtel
The spectrum auction Begins today and on the block is 2,251 MHz of spectrum reserve price of Rs 3.92 trillion. Spectrum in bands 700MHz, 800MHz, 900MHz, 1,800MHz, 2,100MHz, 2,300MHz and 2,500MHz available and analysts expect ow competition intensity as there is sufficient spectrum and that RJio/Bharti/VIL need to spend Rs 280b/Rs 129b/Rs83b at the reserve price to renew their existing spectrum.
Two of RIL’s latest announcements increasing shareholding in skyTran and making batteries for electric vehicles (EVs) are proof that Mukesh Ambani’s company is now focusing on greener sources of energy and transportation, matching the global trend amid the possibility of a renewable energy boom in India.