Stocks To Watch: Bharti Airtel, HUL, SBI, Thermax, GAIL, Bandhan Bank
India's stock benchmarks advanced for the third consecutive session on Tuesday, aided by banking, power and energy stocks.
The S&P BSE Sensex rose 1.14% (over 670 points) to 59,855.93. The NSE Nifty 50 index rose over 1% to close at 17,805.25. This is the first time the 50-stock gauge closed above 17,800 since November 17, 2021.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, fell 0.25% to 17,830.50, as of 7:05 a.m
Here are the stocks to watch in trade today:
Bharti Airtel has dropped plan for the new corporate structure. The company will instead merge two of its units with itself to simplify its structure and consolidate its fiber assets. Under the new plan, Telesonic Networks and Nettle Infrastructure Investments will be merged into Airtel. The company will pursue plan to eventually fold its DTH business Bharti Telemedia into Airtel.
SBI: To invest $20 million in Pine Labs. Pine Labs had raised $700 million across two rounds earlier this year. Pine Labs is looking to invest in scaling Plural, its newly launched brand of online payment products and emerge as an omnichannel partner of choice for merchants. Further the bank said that IMPS transactions up to Rs 5 lakh done using net banking and mobile banking will not attract service charge.
Bandhan Bank: Total deposits grew by 3% in Q3 to Rs 84,500 crore over the preceding quarter. Loans and advances grew by 9% to Rs 89,213 crore. CASA ratio at 45.6% versus 44.6% in the previous quarter. Collection efficiency at 93%. These are provisional numbers.
AU Small Finance Bank: Total Deposits grew by 13% in Q3 to Rs 44,278 crore over the preceding quarter. CASA ratio at 39% versus 30% in the previous quarter. Fund-based disbursements rose 59% QoQ to Rs 8,152 crore. Non-fund-based disbursements grew 48% QoQ to Rs 627 crore. These are provisional numbers.
Thermax: Bagged orders of Rs 545.6 crore from an Indian power public sector company to set up flue gas desulphurisation systems for their two units of 500 MW capacity each in the state of Uttar Pradesh, India.
GAIL (India): The company has acquired 26% stake held by IL&FS Energy Development Company and IL&FS Financial Services in ONGC Tripura Power Co.
Sagar Cements: India Ratings and Research has placed the company’s long-term issuer rating of ‘A’ on Rating Watch Evolving.
Future Group stocks: The Delhi High Court has dismissed petitions by the Future Group seeking a direction to the SIAC arbitral tribunal to first decide on its application on termination of arbitration proceedings with Amazon.
ONGC: Company says Alka Mittal gets additional charge of CMD post for six months.
Upcoming Results
Delta Corp: To announce Q3 results on January 11.
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked a pledge of 1.50 lakh shares on Dec. 30 and created a pledge of 23.91 lakh shares on Dec. 31.
Insider Trades
Grasim Industries: Promoter IGH Holdings bought 59,000 shares on Dec. 31.
Federal-Mogul Goetze (India): Promoter Group IEH FMGI Holdings LLC sold 8,643 shares on Aug. 20.
Polycab India: Promoter Nikhil Jaisinghani sold 20,000 shares between Dec. 30 and Dec. 31.
Bulk Deals
ADF Foods: Altura Capital Advisors LLP bought 5.09 lakh (2.54%) shares at the price of Rs 856.99 apiece. Authum Investment & Infrastructure sold 4.30 lakh (2.15%) shares at Rs 857 apiece.
Who’s Meeting Whom
Stove Kraft: To meet institutional investors on January 5.
Affle (India): To meet Franklin Templeton on January 6.
Trading Tweaks
Move Into ASM Framework: Olectra Greentech
Ex-Date Amalgamation: Gateway Distriparks
