These stocks are likely to be in focus on February 22
At market close on Monday, the Sensex was at 57,683.59 down by 149.38 points or 0.26% and the Nifty was at 17,206.55 down by 69.65 points or 0.40%.
These stocks are likely to be in focus for Monday's trading session –
Reliance Industries Limited: Reliance Jio Infocomm Ltd, will land the next generation multi-terabit India-Asia-Xpress (IAX) undersea cable system in Hulhumale, Maldives. The high capacity and high-speed IAX system will connect Hulhumale directly with World’s major internet hubs in India and Singapore. The IAX system originates in Mumbai in the west and connects directly to Singapore, with branches including additional landings in India, Malaysia, and Thailand. The India-Europe-Xpress (IEX) system connects Mumbai to Milan, landing in Savona, Italy, and includes additional landings in the Middle East, North Africa, and the Mediterranean. IAX is expected to be ready for service end-2023, while IEX will be ready for service in mid-2024. The scrip of Reliance was down by 1.07% at Rs 2398.25 at market close on the BSE.
Bharti Airtel Limited: The company has joined hands with the SEA-ME-WE-6 undersea cable consortium to scale up its high-speed global network capacity to serve India’s fast-growing digital economy. The 19,200 Rkm SEA-ME-WE-6 will connect Singapore and France and will be amongst the largest undersea cable systems globally. Airtel is participating as a major investor in the SEA-ME-WE-6 and is anchoring 20% of the overall investment in the cable system, which will go LIVE in 2025. The 12 other consortium members of SEA-ME-WE-6 include Bangladesh Submarine Cable Company, Dhiraagu (Maldives), Djibouti Telecom, Mobily (Saudi Arabia), Orange (France), Singtel (Singapore), Sri Lanka Telecom, Telecom Egypt, Telekom Malaysia, Telin (Indonesia). Through SEA-ME-WE-6 Airtel will add a significant amount of 100 TBps capacity to its global network. The shares of the company were down by 0.34% at Rs 710.25, at market close on the BSE.
Dr Reddy’s Laboratories Limited: The Sistema Group company, Binnopharm Group, one of the leading pharmaceutical production companies in Russia via its affiliate Joint Stock Company ‘Alium’, and Dr Reddy's Laboratories Ltd have announced the signing of a deal that will allow Binnopharm Group to acquire anti-bacterial medicines under the Ciprolet and Levolet brands from Dr Reddy’s in Russia, Uzbekistan, and Belarus. The portfolio includes various dosage forms such as tablets, solutions for infusions, and eye drops. The scrip of Dr Reddy’s Labs was down by 0.51% on the BSE at Rs 4298.90.
52-week high stocks – From the BSE 500 pack, the stocks of Chalet Hotels and Linde India have hit their 52-week high on Monday.
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