Stocks to watch: Zomato, SBI, Adani Group, Britannia, ONGC, Gland Pharma | News Bharat

Stocks to watch today: Key benchmark indices are likely to start trading on a subdued note amid muted global cues from overseas markets. Equity markets will be looking for cues from the GDP numbers due after market hours on Wednesday.

At 07:45 AM, SGX Nifty futures were trading at 18,742 against spot Nifty’s close of 18,618 yesterday.

Meanwhile, the following stocks are likely to see some action in Wednesday’s trades.

Zomato: Shares of the food delivery company are likely to be in focus amid reports that Alibaba Group Holding plans to sell about a 3 percent stake worth $200 million in a block deal today. The Chinese e-commerce giant, through its financial arm Ant Group, currently holds a 13.3% stake in Zomato. READ MORE

Adani Enterprises: Shares of flagship Adani Group and other related firms are likely to get some action after Adani Properties on Tuesday won the Rs 5,069-crore renovation bid for Dharavi, Mumbai. The project is expected to be completed in 17 years. READ MORE

SBI: The bank’s executive committee on Tuesday approved a proposal to raise up to Rs 10,000 crore through infrastructure bonds (including a green shoe option of Rs 5,000 crore) through public issue or private placement in FY23.

Britannia Industries: The company has entered into a joint venture with French cheese manufacturer Bel SA to develop, manufacture, market, distribute, trade and sell cheese products in India and certain other territories. READ MORE

Gland Pharma: The company has entered into a put option agreement to acquire French firm Cenexi Group for an equity value not exceeding EUR 20 million (approximately Rs 1,000 crore) to expand its contract development and manufacturing business in Europe. READ MORE

ONGC: The government-appointed Kirit Parikh Review Panel has recommended a floor and ceiling price for natural gas produced from legacy fields of state-owned firms over five years at $4 per million British thermal unit and $6.5 million per British thermal unit, respectively, from the current rate of $8.57 according to sources.

Spandana Sphoorty Financial: The company’s board is scheduled to meet on December 2 to consider and approve the raising of funds through the issuance of bonds on the basis of a private placement.

Related to rice: On Tuesday, the government lifted the export ban on organic non-basmati rice, including broken rice, a move that will help boost outbound shipments of the commodity. Rice exports stood at $5.5 billion in April-September this fiscal year. It was $9.7 billion in 2021-22. READ MORE

Biocon: The company’s Biocon Biologics division has completed the multi-billion dollar acquisition of its partner Viatris Inc.’s global biosimilars business. In February 2022, Biocon Biologics entered into an agreement to acquire Viatris Inc’s biosimilars business for up to $3.33 billion (about Rs 24,990 crore).

AstraZeneca Pharma: The drugmaker has received regulatory approval to market diabetes drugs. The approval is applicable to both diabetic and CKD patients, it added.

Union Bank: The state-owned bank has raised Rs 2,200 crore of capital through secondary bonds to replace maturing instruments and support businesses.

Stocks under F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance and PNB are the stocks in the F&O ban period on Wednesday.

Source link