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Stocks to watch today: The key fundamentals are pointing to a soft start to trading on Wednesday, as futures floated in post-market trading while US stocks ended with sharp gains.
At 07:30 AM, SGX Nifty futures settled at 18,430, marking an opening loss of 30 odd points on the Nifty 50 index.
Meanwhile, the following stocks are likely to see some action in the trades today.
Bikaji Foods International: The company is set to launch on the stock market today. According to GMP (Grey Market Premium), the company could witness a listing gain of 8 – 10 percent. The company’s IPO received a reasonable response and was subscribed 26.67 times, mainly due to strong demand from QIBs (Registered Institutional Buyers ).
Global Health (Medanta): Hospital-related stocks were in demand on Tuesday, but it seems that may not have had enough of a knock-on effect on this debutant. According to GMP (Grey Market Premium), the stock could register a marginally positive entry. The company’s IPO was subscribed 9.58 times.
Payment: The stock market may be in focus this week, as a one-year lock-up period for the company’s stock expires, freeing up investors to sell shares that have not yet been admitted to the market. The largest shareholders of One97 Communications Ltd., Paytm’s parent company, are Alibaba Group Holding and its fintech partner Ant Group, as well as Japan’s SoftBank Group. PLEASE READ
Tata Motors: Jaguar Land Rover’s Tata Group is partnering to improve semiconductor supply as it looks to improve sales volume in the second half of the current financial year. The automaker noted that despite strong demand and a record order book, sales continued to decline in Q2 due to global chip shortages.
Tata Consumer Products: The shareholders of Tata Consumer, Tata Coffee and TCPL Beverages approved the plan of merger between the three companies, the vote was held on November 12. Tata Consumer Products will pay one share to existing shareholders for every 22 shares held in Tata Coffee.
HDFC: The mortgage lender will raise up to Rs 5,500 crore by issuing bonds on a private placement basis to boost its resources on Wednesday. The secured non-convertible debentures (NCD) issue will have a base size of Rs 4,000 crore with an option to oversubscribe up to Rs 1,500 crore.
NDTV: According to sources, the promoters of NDTV – Radhika Roy and Prannoy Roy – may not raise a legal challenge against Adani Group’s open offer for additional shares in the company. On Tuesday, shares of NDTV closed at Rs 384.10, after rising around 5-percent. PLEASE READ
SBI: India’s largest PSU bank raised the marginal cost of funds lending rate (MCLR) by 15 basis points across tenors, making most consumer loans more expensive for borrowers. The revised rates are effective from November 15, 2022.
Stocks in F&O ban: BHEL, Delta Corp, GNFC, PNB and Sun TV Network are stocks during the F&O ban on Wednesday.
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