Stocks to Watch: Paytm, Star Health, Rel Cap, Ujjivan SFB, BPCL, telcos

Further consolidation seems likely, while telecom stocks may be in focus owing to the new DoT order on limiting SIMs per user

Further consolidation in the markets seems likely owing to the lack of any major trigger. The key benchmark indices have gained in the last three consecutive trading sessions. Meanwhile, here the top stocks to focus in trade on Friday.

Star Health and Allied Insurance Company: After a tepid response to its IPO, the stock will be making its debut on the bourses today.

Paytm: Paytm Payments Bank, an associate entity of Paytm, has received the RBI’s approval to operate as a scheduled payments bank, helping it to expand its financial services operations. It now becomes eligible for refinancing facility from the RBI at the bank rate, acquires membership to the clearing house, and gets access to currency storage facility. READ MORE

Bajaj Electricals: The company has decided to review its existing corporate structure due to the nature and potential opportunities of each of its business segments. The review will encompass an evaluation of full range of options and alternatives including demerger, subsidiarisation and strategic partnerships among various possibilities.

BPCL: After divestment-bound Bharat Petroleum Corporation (BPCL) acquired Oman’s state-owned petroleum investment company OQ’s entire stake in the Bina Refinery project in June this year, the company has now got clearance from the Department of Investment and Public Asset Management (DIPAM) for the merger of the refinery with the company.

BPCL had also acquired Madhya Pradesh government’s stake in Bharat Oman Refineries (BORL) or Bina Refinery in the form of convertible share warrants for Rs 72.63 crore two months ago. READ MORE

Ujjivan SFB: Ujjivan Small Finance Bank has raised interest rates on its fixed deposits up to Rs 2 crore by 50-75 basis points (bps) for select maturities. For depositors below 60 years of age, the bank is offering an interest rate of 6.5 per cent for a 12-month tenure, and 6.6 per cent for 19-month and one day to 24-month tenure. Senior citizens to get an additional 75 bps across tenures.

Reliance Capital: Bond holders clear Reliance Capital’s subsidiary Reliance Commercial's revival plan. Authum Investment and Infrastructure’s resolution plan for Reliance Commercial Finance has been voted with an overwhelming majority of over 99 per cent by its debenture holders. READ MORE

Telecom shares: The Department of Telecommunications (DoT) has issued an order to re-verify the SIM of subscribers holding beyond nine connections across India and six connections in the case of Jammu and Kashmir, North East and Assam and disconnect in the case of non-verification. The subscribers will be given the option to choose the connection they want to retain and deactivate the rest of the connections. READ MORE

Infosys: The IT major has collaborated with Packable, a leading e- commerce company with a proprietary tech-enabled offering, sitting at the intersection of brands, marketplaces and customers. Packable recently announced merger with Highland Transcend Partners, setting it on the path to becoming a public company.

Dr.Reddy’s: The pharma announced the launch of Venlafaxine ER Tablets which is therapeutically equivalent to Venlafaxine Extended-Release Tablets, 150 mg and 225 mg, of Osmotica Pharmaceutical US LLC approved by the U.S. Food and Drug Administration (USFDA). The brand and generic had U.S. sales of approximately $51 million MAT for the most recent twelve months ending in October 2021 according to IQVIA Health*.

Vedanta: The company’s board is scheduled to meet on December 11 to consider its second interim dividend. The record date for the payout is set at December 18.

Karur Vysya Bank: Private sector lender plan to reduce its base rate and benchmark prime lending rate to 7.75 per cent and 12.75 per cent, respectively, with effect from December 15, 2021.

Deepak Fertilisers: Smartchem Technologies, a 100 per cent subsidiary of the company, to invest Rs 2,200 crore in its global scale technical ammonium nitrate plant in Gopalpur, Odisha.

Weizmann: The company’s board approved a proposal to buy back 14,12,515 equity shares at Rs 60 each on a proportionate basis the tender offer process.

Bhagiradha Chemicals & Industries: The company’s board is scheduled to meet on December 14 to consider a proposal for rights issue of equity shares to existing shareholders.

Adroit Infotech: The company’s board has approved Reduction of Capital as per the Scheme and the comments/ observation letters received from BSE and NSE.

Stocks in F&O ban: Escorts and Indiabulls Housing Finance are the only two stocks in the F&O ban period today.