Stocks to Watch: Data Patterns, Tega, LTFH, GMR Infr, Allcargo, Ajanta Phar

Data Patterns is likely to witness a bumper listing, with Grey Market Premium (GMP) indicating a likely 45-50 per cent premium to its issue price.

The key benchmark indices seem poised for yet another positive start backed by encouraging global cues, as fears of Omicron led economic recovery receded. This morning as of 07:55 AM, the SGX Nifty futures were quoted at 17,212 as against NSE Nifty 50 close of 17,073 on Thursday. Meanwhile, here the top stocks to focus in trade today.

Data Patterns: Shares of the vertically integrated defence and aerospace electronics solutions provided are set to make their debut on the bourses on Friday. The IPO had received a huge response, with subscription up to 119.62 times. The GMP indicates a likely 45-50 per cent listing gain for the stock versus its issue price of Rs 585 per share.

L&T Housing Finance (L&TFH): The company has sold L&T Investment Management (LTIM) to HSBC Asset Management (India) for $425 million. LTIM is the investment manager of the mutual fund business of L&T. READ MORE

Tega Industries: The company’s board has given its in-principle approval for setting-up an additional, larger plan in Chile for an estimated cost of Rs  175 crore to cater to the growing Latin American market demand. The project needs to be implemented in the next 24 months.

Ajanta Pharma: The company has scheduled its board meeting on December 28 to consider a proposal for share buy-back.

Allcargo Logistics: The company’s board has approved demerger of CFS/ ICD business into Allcargo Terminal Limited and demerger of equipment rental, logistics parks and other real estate assets into TransIndia Realty & Logistics Parks.

Surya Roshni: The company has received an order worth Rs 124.35 crore from IHB Limited – a joint venture of Indian Oil, Hindustan Petroleum and Bharat Petroleum for supply of API 3LPE coated pipes for LPG cylinders.

Glenmark Pharma: The company informed BSE, that Crisil Ratings had upgraded I ts long-term credit rating to CRISIL AA-/ Positive from CRISIL AA- / Stable. At the same time, Crisil has  reaffirmed the company’s short-term credit rating to CRISIL A1+.

GMR Infrastructure: The company has received approval from the National Company Law Tribunal (NCLT) for the restructuring plan involving the demerger of the non-airport business. The company on August 27, 2020, had unveiled its plan to simplify the corporate holding structure and to attract sector-specific global investors. READ MORE

Indian Oil Corporation (IOC): The state-run refinery is setting up a new crude oil pipeline system with a nameplate capacity of 17.5 million tonnes per annum (mmtpa) from Mundra (Gujarat) to Panipat (Haryana). IOC will also build 9 crude oil tanks of 60,000 kilo litres each at Mundra, which, apart from meeting operational requirements, will also help in enhancing crude oil storage capacity in the country. The total estimated cost of the project is Rs 9,028 crore.

Hero MotoCorp: The two-wheeler major has announced an upward revision in the ex-showroom prices of its motorcycles and scooters, that will come into effect from January 4, 2022. According to a release issued by the company to the BSE, the price revision has been necessitated to partially offset the impact of steadily increasing commodity prices. The price revision will be up to Rs 2,000 and the exact quantum of increase will depend on the model and the market. READ MORE

InterGlobe Aviation (IndiGo): Air France-KLM and IndiGo have entered into an extensive codeshare agreement. With this new partnership, Air France and KLM will offer their customers access to 25 new Indian destinations.

Radhe Developers: The company’s board has approved a proposal to increase its authorised share capital from Rs 45 crore to Rs 100 crore.

Blue Cloud Softech Solutions: The company’s board is scheduled to meet on December 29 to consider and approve conversion of 192.69 lakh convertible warrants into equity shares.

Stocks in F&O ban: Escorts, Indiabulls Housing Finance, Vodafone Idea and Zee Entertainment are the stocks in the F&O ban period today.