Stocks To Watch: Paytm, Vodafone Idea, L&T, IDBI Bank

Trends on SGX Nifty indicated a slightly negative opening for the domestic markets.

New Delhi: The domestic stock indices are likely to trade cautiously on Tuesday taking cues from the global markets. Asian equities and the dollar struggled to find direction with attention squarely on the timing and pace of U.S. monetary policy normalisation. Trends on SGX Nifty indicated a slightly negative opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 19.70 points or 0.11 per cent to 18,035.20.

The benchmark BSE Sensex had jumped 651 points or 1.09 per cent to close at 60,396 on Monday, while the broader NSE Nifty had settled 191 points or 1.07 per cent higher at 18,003.

Here Are Stocks To Watch During Today’s Session:

One 97 Communications (Paytm): Digital payments firm Paytm has posted over four-fold jump in loan disbursals from its platform both in terms of numbers and value in the quarter ended December 31, 2021.

Vodafone Idea: Vodafone Idea said on Tuesday its board approved conversion of the full amount of interest related to spectrum auction instalments and dues owed to the government for use of the airwaves into equity. Following the conversion, the Indian government will hold about 35.8 per cent of the total outstanding shares of the company. Promoter shareholders Vodafone Group would hold around 28.5 per cent and Aditya Birla Group around 17.8 per cent.

Larsen & Toubro: L&T said its construction arm has bagged a significant order from National High Speed Rail Corporation Ltd (NHSRCL). The major scope of work for the project comprises design and construction of civil and building works for a double-line high speed railway of a length of 8.198 km, L&T said in a statement.

Mindspace Business Parks REIT: Global investment firm Blackstone has sold its entire 9.16 per cent stake in Mindspace Business Parks REIT for Rs 1,740 crore through an open market transaction. The units were purchased by Platinum Illumination Trust in a bulk deal on stock exchanges.

IDBI Bank: IDBI Bank said it has started offering products benchmarked to Alternative Reference Rates (ARRs) by replacing the London Inter-Bank Offered Rate (LIBOR) in line with regulatory guidelines.

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