Top stocks to watch out for on March 13: Jet Airways, Indigo, Infosys, R-Com

SUMMARY

Indian shares are set for a tepid start on Wednesday after the benchmark indices rallied in the last two sessions on the back of strong overseas inflows. Here are the top stocks to watch out for in today's trade:

By CNBC-TV18Mar 13, 2019 7:51:12 AM IST (Published)

Jet Airways: Financially-stressed Jet Airways on Tuesday said it has grounded another four of its aircraft due to non-payment of lease rentals. With this, the total number of aircraft taken out of operations due to the severe liquidity crunch in the airline and its subsequent failure to pay rentals to various lessors now stands at 32 so far.

Indigo:Budget carrier IndiGo is offering jobs to pilots of Jet Airways along with compensation for overdue salaries from the cash-strapped full-service airline. IndiGo, the country's largest airline in terms of market share, on Tuesday also said that all job offers are in line with its current terms and conditions.

Infosys: Infosys said Tuesday Sri Lanka-based Hatton National Bank has selected its Finacle Trade Connect to enable a blockchain-based domestic and cross-border trade finance network. The Finacle Trade Connect solution will be used by HNB to pilot a trade network with other corresponding banking partners and its corporate clients.

R-Com: Lenders of Reliance Communications (RCom) Tuesday contended before the NCLAT that they have the first right over Rs 260 crore, which the debt-ridden company has received as the income tax refund.

Raymond: Company terminated development management agreement with Colorplus Realty Limited for developing its realty project - 'Raymond Realty Phase I' and in order to gain better operational efficiencies and control on the project, it intends to undertake the development on its own.

Vedanta: The company's board approved the second interim dividend of Rs 1.85 per share.

Axis Bank: Board approved the appointment of Rakesh Makhija, Independent Director as the Non-Executive (Part-time) Chairman of the bank, for a period of 3 years.

TVS Motor: The company has further invested a sum of Rs 30 crore in TVS Credit Services Limited, a subsidiary company. The company’s direct holding in TVS CS increased to 10.29 percent.

V-Mart Retail: The company has opened three new stores in Himachal Pradesh, Jharkhand and Uttar Pradesh, respectively. This takes the total number of stores to 207 stores in 165 cities across 17 states.

NMDC: Board of directors declared an interim dividend at the rate of Rs 5.52 per share of face value of Re 1 each for the financial year 2018-19.