Stocks to Watch: Zomato, SBI, Adani Group, UK, ONGC, Gland Pharma | Rare Techy
Stocks to watch today: Major benchmark indices are likely to start trading amid subdued global cues from overseas markets. Equity markets will be looking for clues from the GDP figures to be announced after market hours on Wednesday.
At 07:45 AM, the SGX Nifty futures were settled at 18,742 against the Nifty which closed at 18,618 yesterday.
Meanwhile, the following stocks are likely to see some action in Wednesday’s trading.
Zomato: The food delivery company’s shares may gain attention amid reports that Alibaba Group Holding plans to sell a 3 percent stake worth $200 million in a block deal today. The Chinese e-commerce giant, through its financial partner Ant Group, currently owns a 13.3 percent stake in Zomato. PLEASE READ
Adani Companies: Shares of flagship company Adani Group and other related companies may see some activity after Adan Properties on Tuesday won the tender for the redevelopment of Dharavi, Mumbai, worth Rs 5,069 crore. The project is expected to be completed in 17 years. PLEASE READ
SBI: The bank’s Board of Directors on Tuesday approved a proposal to raise Rs 10,000 crore through Infrastructure Bonds (including a green belt option of Rs 5,000 crore) during FY23.
British Industry: The company has entered into a joint venture with French cheese maker Bel SA to develop, manufacture, market, distribute, trade and sell cheese products in India and certain other regions. PLEASE READ
Gland Pharma: The company has entered into a put option agreement to acquire French company Cenexi Group for a consideration not exceeding 20 million euros (approximately Rs 1,000 crore) to expand its contract development and manufacturing business in Europe. PLEASE READ
ONGC: A government-appointed review panel, Kirit Parikh, set a price floor and ceiling for natural gas produced from legacy fields of state-owned firms for five years at $4 per million British thermal units and $6, respectively. 5 million dollars British thermal unit offers, against the current price. rate of $8.57 according to sources.
Sponsorship of Sphoorty Financial: It is decided that the board of the company will meet on 02 December to review and approve the raising of funds with the issue of debt on the basis of private placement.
Related to rice: The government on Tuesday lifted the ban on the export of organic non-basmati rice, including broken rice, a move that will help boost exports of the commodity. Rice exports between April and September amounted to 5.5 billion dollars. In the period 2021-22 it was 9.7 billion dollars. PLEASE READ
Biocon: The company’s Biocon Biologics unit completed the multibillion-dollar purchase of its partner Viatris Inc.’s global biosimilar business. ).
AstraZeneca Pharma: The drug manufacturer received permission from the agency to sell anti-diabetic drugs. The approval applies to both diabetic and non-diabetic CKD patients, she added.
Union Bank: The state-owned bank has raised Rs 2,200 crore capital through series II bonds to replace mature instruments and support the business.
Companies in the F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance and PNB stocks are in the F&O ban period on Wednesday.