[ad_1]
Stocks to Watch Today: Mirroring the weak cues from the global markets, the key Indian benchmark indices are likely to start trade on a negative note this Friday. Fears of economic growth slowdown coupled with the fresh Covid-19 scare weighs on the market sentiment.
At 07:20 AM, the SGX Nifty futures quoted at 18,090 as against the spot Nifty 50 close of 18,127 yesterday.
Meanwhile, following stocks are likely to be in focus in trade on Friday.
Aban Holdings: The stock is likely to list on a subdued note, given the tepid response to its recently concluded IPO. The Rs 345.60 crore public issue was subscribed 1.1 times only.
Landmark Cars: The Rs 552 crore IPO of the automobile dealership chain was subscribed up to 3.1 times, with some keen interest seen by institutional investors. However, the Grey Market Premium, indicates a lacklustre debut for this stock as well.
Reliance Industries: Reliance Jio’s subsidiary – Reliance Projects and Property Management Services deposited Rs 3,720 crore in an SBI escrow account to acquire mobile tower and fibre assets of Reliance Infratel. READ MORE
Meanwhile, another subsidiary of RIL, Reliance Strategic Business Ventures on Thursday acquired 23.3 per cent stake in Exyn Technologies Inc for $25 million. Exyn is pioneering multi-platform robotic autonomy for complex, GPS-denied environments.
Gail India: The state-run gas utility fears little to no supply of liquefied natural gas (LNG) from Russia’s Gazprom for at least 12 months, and is preparing to meet the shortfall accordingly. The company’s petrochem plant in UP is running at 40 per cent utilization. READ MORE
Lupin: The drug maker’s US-based arm has recalled four lots of Quinapril tablets used to treat high blood pressure due to the presence of a nitrosamine impurity. “To date, Lupin has received no reports of illness that appear to relate to this issue,” it said, adding it discontinued marketing of Quinapril tablets in September 2022.
JK Cement: The cement manufacturer announced its foray into the paints business by acquiring 60 per cent stake in Rajasthan-based Acro Paints for Rs 153 crore. The balance 40 per cent stake shall be acquired over a period of 12 months.
India Cements: The company informed BSE, that the fair trade regulator, Competition Commission of India (CCI) on Thursday conducted searches at its Chennai office. The release added that the company has not committed any breach of CCI regulations.
Ramco Systems: The company’s board has approved a proposal to raise up to Rs 160 crore by way of issue of convertible equity warrants to promoters and non-promoter group at Rs 274 each.
Tata Communications: The Tata Group company will acquire New York-based end-to-end live video production company The Switch Enterprises in an all-cash deal worth Rs 486 crore.
S Chand: The education content company to sell its entire stake in AI/data sciences edtech platform iNeuron Intelligence to Physicswallah, a sector unicorn, for Rs 14 crore.
Stocks in F&O ban: Indiabulls Housing Finance was the only stock in F&O ban period on Friday.
Meanwhile, in the primary market, Radiant Cash Management Services Rs 387.94 crore IPO opens for subscription in the price band of Rs 94 – Rs 99 today. The issue shall close on December 27.
[ad_2]
Source link
