Stocks to watch: Bharti Airtel, Poonawalla Fincorp, M&M, SBI, Wipro, NTPC


today: Domestic are likely to have a quiet start on Thursday after the US Federal Reserve (US Fed) indicated interest rates to peak above 5 per cent by 2023. The central bank hiked rates by 50 basis points in its December meeting to 4.25-4.5 per cent, highest seen in 15 years.

At 7:35 am, the SGX quoted 18,687 levels, indicating a flat start at the bourses.

Globally, the US equities reacted negatively to the US Fed’s rate action as Dow Jones declined over 100 points to 0.4 per cent. NASDAQ Composite and the S&P 500, meanwhile, lowered to 0.7 per cent and 0.6 per cent, respectively.

Asia-Pacific markets, too, fell in tandem with Nikkei 225, Hang Seng, the S&P 200, and Kospi indices slipping up to 2 per cent.

Meanwhile, back home, here’s a list of stocks that may see action in Thursday’s trade:

M&M: The automobile major will invest Rs 10,000 crore to set up an electric vehicle (EV) manufacturing facility in Pune. The Pune facility will be set up under the Maharashtra government’s industrial promotion scheme for EV and will invest Rs 10,000 crore through its subsidiary over 7-8 years for the plant. READ MORE

Bharti Airtel: The telecom operator launched 5G Plus services at no-extra cost in Lucknow, Uttar Pradesh. The 5G Plus services will be available to customers in a phased manner at no extra cost until the rollout is widespread. The customers will be able to enjoy speed up to 20-30 times faster than the current 4G speeds. READ MORE

SBI: The state-run lender plan to raise up to Rs 10,000 crore through additional tier – 1 (AT1) bonds until March 2024, in order to support business growth. This fund raise would be subject to the Indian government’s concurrence. The bank would look to raise funds before March and the issuance would be in tranches based on market’s appetite. READ MORE

NTPC: According to reports, the state-run power producer aims to sell 20 per cent stake in its green energy business this fiscal year, in order to raise around $363.9 million. The deal marks the first green transaction by an Indian state company, which drew interest from investors like Canada Pension Plan Investment Board (CPPIB), Malaysia’s Petronas and Brookfield. READ MORE

Torrent Pharma: The pharma major inked pact with Boehringer Ingelheim India to co-market diabetes drug and its combinations in the country. That apart, the company has also inked an agreement to jointly sell Cospiaq, Cospiaq Met and Xilingio. The management said that these launches would further strength their diabetes and cardiovascular portfolios. READ MORE

AstraZeneca Pharma: The company announced that Gagandeep Singh Bedi has resigned from his position as managing director. Sanjeev Panchal has taken his position as managing director for a period of three years with effect from January 1, 2023.

Wipro: The IT services company announced the launch of new Middle East financial services advisory capability, Capco. Capco would offer strategic management and technology consulting capabilities to financial services firms in the Middle East to enable their transformation, digitization, and business consolidation initiatives.

J&K Bank: The board announced the appointment of Sudhir Gupta as Executive Director of the bank. Sudhir Gupta joined the services of the Bank as Probationary Officer in the year 1989 and has served the Bank in different capacities across the operational topography of the Bank.

Poonawalla Fincorp: The board approved sale of its housing subsidiary, Poonawalla Housing Finance to TPG for Rs 3,900 crore, subject to regulatory approvals. The management believes that the transaction would maximize shareholders value in the long-term as they focus to build a tech-led and digital-first financial services company.

Gulshan Polyols: The company will supply over 22,000 kiloliters of ethanol from its Boregaon manufacturing plant to oil marketing companies for Rs 137 crore. Moreover, it has also bagged order to supply 9,300 kiloliters of ethanol from new Boregaon plant to Nayara Energy for Rs 54 crore.

Stocks in F&O ban: BHEL, Delta Corporation, GNFC, Indiabulls Housing Finance were banned in the F&O ban period on Thursday, December 15.


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