Stocks to Watch: RIL, BPCL, Dish TV, Yes Bank, HDFC Life, banks

Foreign institutional investors net sold shares worth ?1,926.77 crore, while domestic institutional investors net bought shares worth ?800.91 crore in the Indian equity market on 6 January

Reliance Industries: Reliance Industries Ltd (RIL) has raised $4 billion through the largest ever foreign currency bond issuance by an Indian enterprise. The proceeds will be used to refinance some of its existing debt. In another development, arm Reliance Retail has acquired a 25.8% stake in Google-backed hyperlocal delivery startup Dunzo, expanding RIL's presence in the fast-growing grocery delivery market.

Bharat Petroleum: Bharat Petroleum Corp. Ltd (BPCL) plans to spend ?25,000 crore to build a renewable energy capacity of 10 gigawatts (GW) comprising a mix of solar, wind, small hydro and biomass. BPCL could also sign power purchase agreements with buyers.

Dish TV: The tussle between Dish TV India Ltd and its largest shareholder Yes Bank Ltd is likely to stretch further, with the private lender moving the Bombay high court for an order asking Dish TV to disclose the results of its annual general meeting (AGM) held on 30 December.

HCL Technologies: The company completed acquisition of 51% stake in German IT Consulting Company, Gesellschaft für Banksysteme GmbH (GBS).

HDFC Life: Has closed the acquisition of Exide Life, which will pave the way for increasing its presence in the south India market. The private sector insurer acquired a 100% stake in Exide Life from its parent Exide Industries after issuing over 8.7 crore shares at an issue price of ?685 and a cash payout of ?726 crore, aggregating to ?6,687 crore.

Vedanta: Holding company Twin Star Technologies, the winning bidder of the Videocon Industries and its 12 units, are preparing to appeal against the appellate tribunal’s order to restart the resolution process of the consumer durables company.

Banks: The third covid wave poses a risk to asset quality of banks as many restructured loans with a moratorium would be out of this dispensation in Q4'2022, according to ratings firm Icra. Besides bad loans, lenders are likely to see challenges on profitability and solvency fronts due to disruption caused by the Omicron variant of coronavirus.

Wockhardt: The board of the company has approved a proposal to raise up to ?1,000 crore through a rights issue. The objective of the issue is to meet the company's financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others, permitted by law.

Sterling and Wilson: Shapoorji Pallonji and Company on Thursday said it has sold 1.84 crore shares of Sterling And Wilson Renewable Energy to Reliance New Energy Solar after which its stake in SWREL has come down to 33.06%.

Ujjivan Small Finance Bank: Gross loan book increased 22% year-on-year to ?16,600 crore, while disbursements rose 120% on year to ?4,800 crore. Total deposits jumped 34% to ?15,600 crore in Q3FY22.

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