Stocks to watch: Zomato, NDTV, ONGC, SBI, Gland Pharma, Biocon | Rare Techy


Here is a list of the top 10 stocks that will be in focus today:

Zomato: Chinese e-commerce giant Alibaba Group Holding Ltd plans to sell about 3% of food delivery platform Zomato Ltd for $200 million in a block arrangement, Reuters reported on Tuesday. According to reports, Wall Street brokerage Morgan Stanley will broker the deal. The block deal is expected to take place tomorrow, and Alibaba Group may offer the shares at a 5-6% discount to today’s closing price.

NDTV: New Delhi Television Ltd founders Prannoy Roy and Radhika Roy have resigned as directors of promoter group vehicle RRPRH with immediate effect, the company said in a regulatory filing. NDTV had on Monday said a founder-backed entity had divested the company’s shares to a unit of the Adani Group, taking billionaire Gautam Adani’s conglomerate a step closer to taking control of the media company.

State Bank of India: The State Bank of India (SBI) board said on Tuesday that it has approved the hike 10,000 crores through infrastructure bonds in 2023. The lender said in its regulatory filing that it (includes a green belt option of Rs 5,000 crore. option of Rs 5,000 crore) through a public issue or a private placement, during FY23,” SBI said in its regulatory filing.

ONGC / Reliance Industries: The Kirit Parikh panel on gas pricing is set to recommend phasing out the price of gas produced from challenging fields when it submits its report on Wednesday. The price of gas from difficult fields, including deep water, ultra-deep water, and high temperature high pressure areas such as Reliance Industries is currently low. The panel will recommend a floor price and a cap for legacy or old fields operated by state-owned ONGC and Oil India Ltd (OIL).

Gland Pharma: Generic injectables maker Gland Pharma Ltd said on Tuesday it will buy French drug firm Cenexi for 120 million euros (approx. 1,015 crore) as it looks to expand its presence in European markets. Singapore-based wholly-owned pharmaceutical company Gland Pharma International PTE has entered into an ‘Option Agreement’ to acquire 100% of Cenexi Group for a price not exceeding EUR 120 million, the firm said in a filing.

Biocon: Biocon Biologics announced on Tuesday that it has successfully completed its multi-billion dollar (USD) acquisition of its partner Viatris Inc.’s global biosimilar business. the United States Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors.

Sanghi Industries: Kotak Private Equity Fund, the alternative investment arm managed by Kotak Investment Advisors Ltd, will invest 550 crore in cement maker Sanghi Industries Ltd from its $1 billion fund. According to Kotak’s statement, the investment will be made in the form of non-convertible debentures. 500 crore invested in Sanghi Industries NCDs, and the rest 50 crore in NCDs of an institution owned by the developer, according to Kotak’s statement.

Inox Green Energy: Wind energy solutions provider Inox Wind said on Tuesday that the company and its subsidiary Inox Green Energy Services are in debt 411 billion. Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, as part of a strategic initiative to offload their respective balance sheets, recently paid off. 250 billion and 161 crore (amounting to Rs. 411 crore) to reduce their debt, an exchange filing said.

Aditya Birla Capital: Aditya Birla Sun Life AMC on Tuesday said it has received approval from the IFSCA to act as a registered fund management entity and conduct Alternative Investment Funds (AIFs) and Portfolio Management Services (PMS). The approval was granted by the International Financial Services Authority (IFSCA) on November 28, the asset management company said in a statement. The firm can provide services through a branch at the International Financial Services Center (IFSC) in GIFT City of Gujarat.

Bharat Bijlee: Insurance giant, Life Insurance Corporation of India (LIC), sold 2.15% in Bharat Bijlee in open market transactions. With this, LIC’s share in the company decreased from 6.69% earlier to 4.54%. Bharat Bijlee provides turnkey solutions for EHV switches, HV and MV substations, Electrical Balance of Plant, Industrial Power Distribution and Lighting Systems.

Know your inner investor
Do you have nerves of steel or do you get insomnia from your investments? Let’s define your investment approach.

Take the test

Get all Business News, Market News, Breaking News Updates and Latest News Updates on Live Mint. Download Mint News App to get Daily Market Updates.

More Less


Source link

Related Articles

Back to top button