Stocks to Watch: Hinduja Global, Just Dial, IRB Infra, SWRE, Ramco Systems


Today: The key benchmark indices are likely to start Tuesday’s trade on a tepid note tracking weak cues from the global peers, mainly the US. At 07:10 AM, the SGX Nifty futures quoted at 18,450 as against the spot Nifty 50 close of 18,420 yesterday.

In the primary market, Elin Electronics Rs 475 crore IPO opens for subscription today in the price band of Rs 234 to Rs 247. The issue closes on December 22.

Meanwhile, following stocks are likely to be in focus in trade on Tuesday.

Hinduja Global: The company’s board has approved a share buyback worth Rs 1,020 crore. Accordingly, the company will be buying back 60 lakh equity shares at a maximum price of Rs 1,700 per share through the ‘tender offer’ route.

Ramco Systems: The company’s board is scheduled to meet on December 22 to consider and approve a proposal for raising of funds by way of issue of equity shares and / or Warrants convertible into equity shares.

(HZL): The Vedanta group company plans to invest over $1 billion (around Rs 8,270 crore) to convert its diesel-fired mining vehicles into battery-operated ones and also to fully turn a green energy user, over the next five years. READ MORE

Renewable Energy (SWRE): Promoters Shapoorji Pallonji & Company and Khurshed Yazdi Daruvala will sell up to 1 crore equity shares through the offer for sale route at a floor price of Rs 270 per piece on Wednesday and Thursday. READ MORE

IRB Infrastructure: The company has scheduled its board meeting on January 04 to consider a proposal for stock split.

Just Dial: The company’s promoter, Reliance Retail Ventures, in order to comply with the requirement of minimum public shareholding intends to offload up to 2 per cent stake in . The said stake sale is likely to be executed within the eight trading sessions, starting from December 21.

Larsen & Toubro (L&T): After the divestment of Infrastructure Development Projects (IDPL), engineering major L&T is looking at offloading Nabha Power in Punjab to potential buyers, as well as paring its stake in Hyderabad Metro to 26 per cent with an objective to reduce the Rs 18,000-crore debt on the books of these firms. READ MORE

HDFC, Axis Bank: Mortgage lender HDFC has hiked its home loan rates by 35 basis points (bps), effective December 20. Meanwhile, Axis Bank has hiked its marginal cost of funds-based lending rate (MCLR) by 30 basis points, effective December 17.

Union Bank of India (UBI): The state-owned bank is likely to tap debt capital by issuing additional tier-1 (AT-1) bonds to raise up to Rs 780 crore. Treasury officials cited a recent fall in corporate bond yields as a key factor for rekindling the interest in AT-1 bonds. READ MORE

Stocks in F&O ban: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and PNB are the seven stocks in F&O ban period on Tuesday.


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