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Bharti Airtel, Vedanta, APL Apollo: Top Stocks for Investors on February 23

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The stock market on Monday, February 22, closed in the red for the fifth consecutive session after falling by 2 percent. On the contrary, the market on Tuesday, February 23 is expected to give a positive start as the SGX Nifty was trading 38.00 points or 0.26 percent higher at 14,713.00 at 7:00 am. On February 22, the BSE Sensex declined 1,145.44 points or 2.25 percent to close at 49,744.32 whereas the NSE Nifty fell 306.05 points or 2.04 percent to settle the day at 14,675.70.

Top stocks to look for the day are:

Bharti Airtel: On or after February 23, the company will meet global fixed-income investors to decide on the issuance of foreign currency bonds/notes.

Vedanta: The whole-time director and Chief Financial Officer (CFO) of the company GR Arun Kumar resigned from his post.

APL Apollo: Commercial paper worth Rs 75 crore has been allotted by the company to ICICI Prudential Ultra Short Term Fund.

Reliance Industries: By the second quarter of the next fiscal the company expects to get the necessary approvals to hive off its oil to chemicals (O2C) business into a separate unit.

Urja Global: The company has approved the allotment of 5 crore partly paid-up rights equity shares at a price of Rs 5 per rights equity share.

Bharat Forge: An agreement has been signed by the company with Paramount Group for the production of protected vehicles in India.

Tata Communications: The acquisition of shares of the company by Panatone Finvest Ltd. has been approved by the Competition Commission of India (CCI).

Gammon Infrastructure Projects: 2 crore shares of the company have been bought by LGOF Global Opportunities at an average price of Rs 0.75 in a bulk deal on the Bombay Stock Exchange (BSE). Also, ICICI Bank has sold 1,90,10,226 shares of the company at the same average price.

Muthoot Capital Services: 2 lakh shares of the company have been bought by SAIF India VI FII Holdings at an average price of Rs 397.50 per share in a bulk deal on BSE.

Venus Remedies: Board members of the company will meet on February 23 to consider and approve the issuance of warrants.

Uniply Industries: To consider and approve quarterly results the board of the company will hold a meeting on February 23.

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Airline CEOs, Biden Officials Consider Green-Fuel Breaks

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Chief executives of the nation’s largest passenger and cargo airlines met with key Biden administration officials Friday to talk about reducing emissions from airplanes and push incentives for lower-carbon aviation fuels.

The White House said the meeting with climate adviser Gina McCarthy and Transportation Secretary Pete Buttigieg also touched on economic policy and curbing the spread of COVID-19 travel has been a vector for the virus. But industry officials said emissions dominated the discussion.

United Airlines said CEO Scott Kirby asked administration officials to support incentives for sustainable aviation fuel and technology to remove carbon from the atmosphere. In December, United said it invested an undisclosed amount in a carbon-capture company partly owned by Occidental Petroleum.

A United Nations aviation group has concluded that biofuels will remain a tiny source of aviation fuel for several years. Some environmentalists would prefer the Biden administration to impose tougher emissions standards on aircraft rather than create breaks for biofuels.

Biofuels are false solutions that dont decarbonize air travel, said Clare Lakewood, a climate-law official with the Center for Biological Diversity. Real action on aircraft emissions requires phasing out dirty, aging aircraft, maximizing operational efficiencies and funding the rapid development of electrification.

Airplanes account for a small portion of emissions that cause climate change about 2% to 3% but their share has been growing rapidly and is expected to roughly triple by mid-century with the global growth in travel.

The airline trade group says U.S. carriers have more than doubled the fuel efficiency of their fleets since 1978 and plan further reductions in carbon emissions. But the independent International Council on Clean Transportation says passenger traffic is growing nearly four times faster than fuel efficiency, leading to a 33% increase in emissions between 2013 and 2019.

The U.S. accounts for about 23% of aircraft carbon-dioxide emissions, followed by Europe at 19% and China at 13%, the transportation group’s researchers estimated.

The White House said McCarthy, Buttigieg and economic adviser Brian Deese were grateful and optimistic to hear the airline CEOs talk about current and future efforts to combat climate change.

Nicholas Calio, president of the trade group Airlines for America, said the exchange was positive.

Airlines are ready, willing and able partners, and we want to be part of the solution” to climate change, Calio said in a statement. We stand ready to work in partnership with the Biden administration.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor



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