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The NSE Nifty 50 is expected to open nearly 100 points higher on Thursday after a day of high volatility as US markets extended gains. SGX Nifty futures were quoted at 18,350 at 07:30 am, compared with the spot Nifty 50 which closed at 18,199 yesterday.
Meanwhile, the following stocks are likely to take center stage in Thursday’s trading.
Sula vineyards: The winery’s shares will go public today. According to Gray Market Premium, the stock is likely to start trading at a low level. The company’s Rs 960.35 IPO was recently oversubscribed 2.3 times.
Reliance Industries (RIL): Mukesh-Ambani’s retail arm Reliance Retail has signed a definitive agreement to buy METRO Cash & Carri India for Rs 2,850 crore. According to a stock exchange statement, the acquisition will add uniquely positioned large-format multi-category stores to Reliance Retail’s store footprint across India and further strengthen its emerging retail business.
Torrent Pharma and Reliance Capital: Ahmedabad-based torrent group won the race to buy Reliance Capital, bidding Rs 8,640 crore in an auction held on Wednesday. Torrent Group’s leading company is Torrent Pharmaceutical.
Spandana Sphoorti Financial: The board of directors of the company approved the proposal for raising up to 300 million dinars. First, through the issuance of Rs 200 crore in non-convertible debentures with a maturity of 14 months. Second, through the issuance of Rs 100 crore in non-convertible debentures with a tenure of 36 months.
Specialized restaurants: The board of directors approved the increase of the authorized share capital of the company from 58 million to 67 million dinars. Furthermore, the board approved the issue of 60 lakh preference warrants convertible into equity shares worth Rs 127.23 crore at Rs 212.05 each to groups or individuals other than promoters.
Paytm: According to Vijay Shekhar Sharma, MD & CEO of Paitm, Unified Payments Interface (UPI) should remain free until digital transfers become the dominant method of money transfer. He was speaking at the Business Standard BFSI Insight Summit in Mumbai on Wednesday. According to Sharma, free UPI will bring more people into the formal economy and have a multiplier effect.
Akis Bank: The bank has strengthened its position on both the asset and liability sides, and may be on track to deliver a sustained improvement in performance. The valuation disparity between Akis Bank (which trades at 1.4k underlying book value (or BV)) and peers such as ICICI Bank (which trades at 2k BV) is expected to narrow.
IndiGrid and GR Infraproject: IndiGrid and GR Infraprojects are also infrastructure investment funds. India Grid Trust and GR Infraprojects have joined hands to bid for power transmission projects worth Rs 5,000 crore. In addition, to start the cooperation, they entered into a framework agreement to acquire 100% stake in Rajgarh Transmission, which the latter won in March 2022.
MTAR Technologies: The Board of Directors of MTAR Technologies has approved and recorded a proposal for the design and development of Project 2 Small Satellite Launch Vehicle (SSLV). In addition, an MOU was signed between MTAR and India’s National Space Promotion and Authorization Center (IN-SPACe).
Glenmark Pharma: Glenmark Pharma has launched a triple fixed dose combination of teneligliptin, pioglitazone and metformin for diabetics in India. The cost is Rs 14.90 per day, which reduces the daily cost of therapy by 40%.
Gautam Gems: The company’s board of directors will meet on December 30 to discuss a proposal to enter the renewable energy sector, which includes wind and solar power.
Stock at F&O Ban: On Thursday, three stocks were subject to F&O ban: GNFC, Indiabulls Housing Finance and IRCTC.
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