Stocks to Watch: NDTV, Dr.Reddy’s, IndiGo, SBI, Zee, Consumer Firms


Today: The key benchmark indices seem poised to start on a positive note tracking smart gains in the US markets, even as fears of another rate hike remained elevated. As of 06:45 AM, the SGX Nifty futures quoted at 17,724, indicating a likely gap-up of nearly 100 points on the benchmark this morning.

Meanwhile, here’s a list of stocks that are likely to see some action in trades on Thursday.

NDTV: According to a release issued by the company to the BSE, the Adani Group has made an open offer to acquire additional 26 per cent stake (16.76 million shares) at Rs 294 per share. The open offer to begin on October 17 and end on November 01.

InterGlobe Aviation (IndiGo): Airlines’ co-promoter Rakesh Gangwal is likely to sell up to 2.8 per cent stake in the parent company InterGlobe Aviation through block deals for about Rs 2,000 crore, sources said. READ MORE

Dr. Reddy’s Laboratories: The pharma major has launched Lenalidomide Capsules, a therapeutic equivalent generic version of REVLIMID (lenalidomide) Capsules approved by USFDA in the US market. With this volume-limited launch, Dr. Reddy’s is eligible for first-to-market, 180 days of generic drug exclusivity for Lenalidomide Capsules in 2.5 mg and 20 mg strengths.

Reliance (RIL): The company’s retail arm – Reliance Retail wants to be “Atmanirbhar” by building affordable indigenous products that can be scaled up. A few days ago, the company surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. READ MORE

SBI: India’s largest lender State Bank of India on Wednesday issued additional tier-1 (AT1) bonds worth a total of Rs 6,872 crore at a cut-off of 7.75 per cent, the lowest rate set for such debt issuances by any bank so far in the current financial year. READ MORE

Zee: The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday directed to convene a shareholders’ meet on October 14 for approving the merger with Culver Max Entertainment (formerly Sony Pictures Network).

Consumer Firms: Over 2 years after Covid outbreak, consumer firms see strong festival sales. The festival season has already begun in the west and south of India with Ganesh Chaturthi and Onam, respectively. READ MORE

Apollo Tyres: There are interesting structural changes in the tyre industry. After eight years of flat realisations, realisations rose 24 per cent between FY 2019-20 and 2021-22. This should push up EBITDA and reduce capex as per cent of revenue provided raw material costs come down. READ ANALYSIS

JSW Group: Sajjan Jindal-controlled is looking to build JSW One Platforms into an e-commerce behemoth for the building materials industry with a targeted gross merchandise value (GMV) of $20 billion by FY32.

HDFC Bank: India’s largest private sector lender increased its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps), with effect from September 7. This is the second rate hike in two months by the private sector lender after the six-member rate setting committee of the RBI increased the benchmark repo rate by 50 bps to 5.40 per cent.

Axis Bank: The in its bid to boost priority sector lending, the bank has entered into a partnership with branchless banking network PayNearby. READ MORE

Brand Bucket Media & Technology: The company’s board approved raising up to Rs 33 crore by way of issue of 1 crore convertible equity warrants to non-promoters on a preferential basis at Rs 33 per warrant.

Stocks in F&O ban: Delta Corp is the only stock in F&O ban period on Thursday.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Source link

Comments are closed.