Stocks To Watch: Indian Energy Exchange, Coffee Day, Gland Pharma, Nazara Tech, United Breweries
Here are the stocks to watch in trade today...
Most Asian stocks rose Thursday as traders bet the global recovery will be resilient to the new virus strain. Treasuries were stable after declining.
MSCI Inc.’s gauge of Asia Pacific equities advanced for a third day with Hong Kong leading the advance. U.S. contracts were steady after the S&P 500 and the technology-heavy Nasdaq 100 extended a rally.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.43% to 17,560, as of 7:55 a.m.
Here Are The Stocks To Watch In Trade Today:
Mahindra & Mahindra, Reliance Industries: Reliance BP Mobility Ltd., operating under the brand name Jio-bp and Mahindra Group announced a non-binding MoU for exploring creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels.
NHPC: Approved the amalgamation of Lanco Teesta Hydro Power Ltd. with self.
Gland Pharma: Received tentative approval from the United States Food and Drug Administration for Cangrelor injection. Company may be eligible for 180 days of generic drug exclusivity.
Vedanta: Board to consider second interim dividend on equity shares on Dec. 11.
Coffee Day Enterprises: Received show cause notice from SEBI over fund flow from subsidiaries, that surfaced after investigation was done on the letter left by late managing director V.G. Siddhartha. Company says will deal with the show cause notice appropriately as advised.
Can Fin Homes: Company to consider the proposal of payment of interim dividend on Dec. 14.
United Breweries: Filed an appeal before the National Company Law Appellate Tribunal against the CCI order dated Sept. 24.
Nazara Technologies: Company through its wholly owned subsidiary i.e. Nazara Technologies FZ-LLC, is now holding 69.18% stake in Publishme Global FZ-LLC, a Turkish full service games marketing agency.
Indian Energy Exchange: Approves two-for-one bonus share issue.
HCL Technologies: Partners up with Deutsche Apotheker und Ärztebank eG (apoBank), the largest cooperative primary bank in Germany to acquire Gesellschaft für Banksysteme GmbH (gbs). Post-closing, HCL will own 51%, while apoBank will own 49% stake of gbs.
RailTel, Ircon: RailTel receives order from Ircon International for a tunnel communication system on the Dharam-Banihal section of Jammu Kashmir Rail Link Project for Rs 210.7 crore.
IndiaBulls Housing Finance: Announces public issue of NCDs aggregating up to Rs 1,000 crore.
Balrampur Chini Mills: CRISIL AA+/Stable and A1+ for long-term and short-term assigned to the company.
UPL: Invested Rs 1.3 crore in 2,996 compulsorily convertible preference shares of Allfresh Supply Management Pvt. Ltd.
Neogen Chemicals: Approves issuance of equity shares on preferential basis aggregating to Rs 225 crore to SBI Mutual Fund, Axis Mutual Fund, Plutus Wealth Management LLP and White Oak Capital. EGM fixed for Dec. 31.
JSW Steel: Says it has maintained its leadership rating of ‘A-’ in the 2021 CDP Climate Change assessment.
Asian Paints: Responded to a report by InGovern that alleges the company entered transactions with some of its related parties and failed to mitigate alleged conflict of interests.
Offerings
RateGain Travel IPO subscribed 75% at the end of day two.
Shriram Properties IPO subscribed 89% at the end of day one.
MapMyIndia IPO to open today.
Pledge Share Details
Mindspace Business Parks REIT: Promoter Chandru L. Raheja released a pledge of 93,75,389 shares on Dec. 6.
Insider Trades
Nxtdigital: Promoter Hinduja Group Ltd. bought 52.76 lakh shares on Dec. 4. Promoter Ashok Parmanand Hinduja bought 2.78 lakh shares on Dec. 4.
Shoppers Stop: Promoter Neel Raheja bought 12,000 shares on Dec. 6.
Gujarat Flourochemicals: Promoter Inox Chemicals sold 62,458 shares on Dec. 7.
Who’s Meeting Whom
ICICI Securities: Met Spark Capital Advisors (India) Pvt. Ltd. on Dec. 7.
Federal Bank: Met White Oak Capital Management on Dec. 8.
Dixon Technologies: To meet Millintonia Capital and Capital Group on Dec. 9 and Taiyo Pacific Partners and Edmond de Rothschild on Dec. 14.
Fino Payments Bank: Met with Aditya Birla Sun Life AMC on Dec. 8.
Lemon Tree Hotels: To attend a virtual conference by Systematix Institutional Equities on Dec. 9.
ICICI Prudential: Met Surveyor Capital on Dec. 8.
Chalet Hotels: Met FSSA (First State Investments) on Dec. 8.
Reliance Industries: Attended Goldman Sachs CIO Tour on Dec. 8.
Max Healthcare: To attend Edelweiss Wealth Management/Emerging Ideas Conference 2021 on Dec. 9.
CRISIL: To meet L&T Mutual Funds on Dec. 13.
Trading Tweaks
Price band changed from 20% to 10%: Ansal Housing, IFCI, The Motor & General Finance.
Shortlisted In Long-Term ASM Framework: IL&FS Investment Managers, Ansal Housing Limited, The Motor & General Finance.
Shortlisted In Short-Term ASM Framework: 63 Moons Technologies, Rajdarshan Industries, Satin Creditcare Network, Patel Engineering, Reliance Industrial Infrastructure, Ramky Infrastructure, Celebrity Fashions, RattanIndia Power.
Analyst Actions
Berger Paints: IDBI Capital raises rating to ‘buy’, price target set at Rs 870.
Gujarat Petronet: Elara Securities cuts rating to ‘accumulate’, price target set at Rs 358.
Petronet LNG: Elara Securities cuts rating to ‘accumulate’, price target set at Rs 266.
United Breweries: JPMorgan initiates coverage with ‘overweight’, price target at Rs 1,820.