Stocks To Watch: Indiabulls Housing Finance, PowerGrid, Sapphire Foods, Sun Pharma, Shree Cement
Most Asian stocks rose Thursday following a rally in U.S. equities after U.S. central bank projected three quarter-point interest-rate increases in 2022, another three in 2023 and two more in 2024.
India's stock benchmarks fell for the fourth consecutive session Wednesday, dragged by losses in information technology, metal and reality stocks, as markets ended at day's low in a volatile session.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.65% to 17,363.50, as of 8:20 a.m.
Here Are The Stocks To Watch
Wipro: Introduced regulatory literature monitoring for pharmaceutical organizations by entering a managed services engagement with Springer Nature. Also, signed an agreement to acquire LeanSwift Solutions, a Florida, US headquartered system integrator of Infor Products.
Cipla: Entered agreement to acquire up to 33% partnership interest in Clean Max Auriga Power LLP to enhance the share of renewable power source in its operation and to comply with regulatory requirements for being a ‘captive user’ under electricity laws.
Sun Pharma: One of its wholly owned subsidiaries has received final approval from US FDA for its Abbreviated New Drug Application (ANDA) for generic Amphotericin B Liposome injection.
Reliance Industries: CCI approves acquisition of 40% shareholding in Sterling and Wilson Renewable Energy Ltd. by Reliance New Energy Solar Ltd.
Jubilant Industries: Company’s wholly owned material subsidiary, Jubilant Agri and Consumer Products Ltd. has restarted manufacturing operations at its Sahibabad plant in compliance with orders issued by the CAQM.
ICICI Bank: RBI levied penalty of Rs 30 lakh for non-compliance with norms on levying fees against non-maintenance of minimum balance in savings accounts.
Punjab National Bank: RBI levied penalty of Rs 1.8 crore on the basis of supervisory evaluation of the bank's financial position as on March 31, 2019.
Arvind Fashions: CARE A- (negative outlook)/CARE A2+ rating reaffirmed for its long term and short-term bank facilities, respectively.
PowerGrid Corp.: Approved the payment of interim dividend of Rs 7 per share, to be paid on Jan. 11.
Adani Transmission: Signed share purchase agreement with Adani Ports and Special Economic Zone for acquisition of MPSEZ Utilities Limited for Rs 116.27 crores based on independent valuers’ report.
Future Enterprises: Commercial papers of the company converted into Working Capital Term Loan since it opted for one-time restructuring. Therefore, rating of commercial papers moved to ‘IVR D’ (Issuer not cooperating category).
Indiabulls Housing Finance: Blackstone, ADIA said to near 11% stake purchase from founder Sameer Gehlaut. The deal could be valued at Rs 1,400 crore, according to Bloomberg.
Indiabulls Real Estate: Company has allotted NCDs aggregating Rs. 75 crore.
Infosys: Board of directors to meet on Jan. 11 and 12 to consider Q3 results.
Zee Media: The company’s settlement agreement with Diligent Media Corp. was rejected by the latter’s shareholders.
Adani Ports: Adani Ports Technologies Pvt, wholly owned subsidiary, in joint venture with Empezar Software Labs Pvt. has incorporated a subsidiary company named EZR Technologies Pvt with share participation in the ratio of 51:49.
Sapphire Foods: Lock-in period for anchor investors after IPO opens up on Dec. 16.
TVS Motor: Expands partnership with BMW Motorrad for EVs.
Tata Consultancy Services: Upgraded to A by Fitch, Outlook Stable.
Ashok Leyland: Partners Combat Vehicles to develop 600hp engine.
HP Adhesives IPO subscribed 3.48 times on the first day.
MedPlus Health IPO subscribed 52.6 times on the final day.
Data Patterns IPO subscribed 7.68 times on day two.
Shriram General Insurance Co. mulling IPO in 2022, KKR looking for 10% stake ahead of IPO, .
SBI board approves IPO plans for SBI Funds Management Pvt. Ltd.
CMS Info Systems Ltd.’s IPO to open on Dec. 21, to raise up to Rs 1,100 crore.
Supriya Lifescience IPO to open today, raised Rs 315 crore from 18 anchor investors.
Pledge Share Details
Ansal Housing: Promoter Deepak Ansal invoked a pledge of 31,59,480 shares on Dec. 13. Promoter Deepak Ansal HUF invoked a pledge of 16,200 shares on Dec. 13. Promoter Global Consultants & Designers Pvt. Ltd. invoked a pledge of 18,24,320 shares on Dec. 13.
Apollo Hospitals: Promoter Suneeta Reddy acquired 11,50,000 shares on Dec. 13. Promoter Preetha Reddy sold 11,50,000 shares on Dec. 13.
Vaibhav Global: Promoter Group Brett Enterprises Pvt. Ltd. acquired 3000 shares on Dec. 14.
Aditya Birla Group: Promoter Group Birla Group Holdings Pvt. Ltd. bought 1,85,000 shares between Dec. 9 and Dec 10.
Who’s Meeting Whom
IndiaMart InterMesh: Met Premji Invest on Dec. 14.
Shriram Transport Finance Co.: Met Comgest on Dec. 15.
TVS Motor: Met UBS Securities India Pvt. Ltd. and Pinpoint Asset Management on Dec. 15.
IndusInd Bank: Met Bajaj Allianz Life Insurance Co Ltd on Dec. 15.
Max Financial Services: To meet Fidelity Management Research on Dec. 16.
SBI Cards and Payments Services: Met Canara Robeco Asset Management on Dec. 15.
Nuvoco Vistas Corp.: To meet Torq Capital and Kotak Securities Ltd. (Institutional Equity) on Dec. 16.
Valiant Organics: Met Monarch Networth Capital Ltd. on Dec. 15.
Asian Paints: To meet Wellington Management on Dec. 16 and Morgan Stanley Investment Management on Dec. 20.
ICRA: Met Edelweiss Securities Ltd. on Dec. 15.
Mastek: Met IDFC Asset Management Company on Dec. 15.
Price Band Changed From 20% To 10%: Pritish Nandy Communications.
Price Band Changed From 10% To 5%: Ansal Housing, BSL, IL&FS Investment Managers, The Motor & General Finance.
Shortlisted In Long-Term ASM Framework: 63 Moons Technologies, MT Educare, Country Club Hospitality & Holidays, ISMT, Globe Textiles (India).
Shortlisted In Short-Term ASM Framework: TV18 Broadcast, Reliance Home Finance, BSE.
Shree Cement: Elara Securities raises rating to ‘buy’ from ‘accumulate’, price target set at Rs 31,668.
Ramco Cements: Elara Securities initiated coverage with ‘accumulate’, price target at Rs 1,122.
Nuvoco Vistas Corp.: Elara Securities initiated coverage with ‘accumulate’, price target at Rs 613.