Stocks to Watch: RIL, Wockhardt, IDBI Bk, SJVN, Titan, DMart, FMCG, Pharma

Pharma shares may be in focus as India's apex health research organization ICMR has raised concerns around the safety for use of the oral antiviral drug Molnupiravir

The key benchmark indices are likely to start trade with marginal gains mirroring the trend in the Asian counterparts. As of 08:00 AM, the SGX Nifty January futures were quoted at 17,844 as against the spot Nifty close of 17,746 on Thursday. Meanwhile, here are the stocks in focus for trade today.

Earnings Watch: GM Breweries and SPS International are scheduled to announce December quarter results today. Over the weekend, DMart, Earum Pharma, Fraser and Company, Suraj Industries, Yuranus Infra and Avi Polymers will be announcing the numbers.

Pharma stocks: India’s apex health research organization - Indian Council of Medical Research (ICMR) - has raised concerns around the safety for use of the oral antiviral drug Molnupiravir. Industry sources said that prescription rates may go down among doctors after such safety concerns were raised. READ MORE

Hinduja Global Solutions: The company’s board has declared its third interim divided of Rs 150 per share, and the board has also approved a proposal for 1:1 bonus issue i.e. one free share for every shareholder holding a share.

Reliance Industries: Dunzo, the Google-backed quick commerce player, has raised $240 mn in its latest round of funding. The investment was led by Reliance promoted - Retail Ventures Limited, with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. With an investment of $200 million, Reliance Retail will own 25.8 per cent stake on a fully diluted basis. READ MORE

IDBI Bank: The government has approached the RBI, seeking relaxation in the 26 per cent cap for new promoters in the shareholding for the new buyer of IDBI Bank, as it looks to initiate a strategic divestment of the lender. READ MORE

Wockhardt: The pharma company has received its board’s nod to raise up to Rs 1,000 crore through a rights issue. The company said, the objective of the issue is to meet the company's financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others.

Anand Rathi Wealth: The brokerage firm reported 145.2 per cent YoY jump in net profit at Rs 31.78 crore for the quarter ended December 2021 when compared with Rs 12.96 crore in the corresponding quarter a year ago. Total income grew by 54.9 per cent to Rs 108.66 crore from Rs 70.16 crore in the same period.

Aban Offshore: The company’s board has approved a proposal to sell a rig namely Deep Driller 1 owned its step-down subsidiary.

FMCG stocks: With Covid cases on the rise, consumer goods companies having learnt from the past experiences have started stocking up on their products, and optimising pack sizes, expecting a surge in at-home consumption in the event of tighter restrictions or a possible lockdown. READ MORE

ICICI Prudential: The asset management company will be launching India’s first silver ETF fund of fund, which is an open-ended fund, offering a good mix of all asset classes. The fund will open for subscription on January 13 and close on January 27.

Godrej Consumer Products: The FMCG player said it witnessed low volume growth and high single-digit sales growth owing to price growth in the December quarter. The maker of Good Knight household insecticides witnessed unprecedented cost inflation in the quarter and its Indonesia business is expected to see a marginal decline in constant currency sales growth. READ MORE

SJVN: The state-run firm’s power stations have clocked the highest ever 1,480 MU (million units) of electricity generation in the Oct-Dec quarter of FY22. Nand Lal Sharma, CMD of the company said, against a total design energy of 8,700 MU for full financial year 2021-22 from its power stations, SJVN in just three quarters of this fiscal had generated 8,321 MU of energy.

Titan: The Tata-owned jewellery business company in its quarterly update has said that it witnessed a strong demand across its consumer businesses and clocked 36 per cent revenue growth over the festive quarter in 2021. It also added 14 more stores taking its store count to 428.

“Buoyancy in jewellery demand driven by festive purchases in October and November helped the division achieve significant revenue uplift for the quarter,” the company said in its update. READ MORE

Bharti Airtel: The telecom major’s African arm has completed the first part of its $176 million telecom tower sale deal in Tanzania. The sale is part of its overall deleveraging strategy, which netted over $800 million through fund raise and asset sales in 2021. Airtel Africa’s tower assets in Tanzania have been acquired by a joint venture company owned by SBA Communications Corporation and Paradigm Infrastructure. READ MORE

Alembic Pharmaceuticals: The drug maker has received final approval from the US health regulator for its generic Entacapone tablets indicated for patients with Parkinson's disease. The company also said, that in the ongoing fiscal so far, it had received 17 approvals (13 final approvals and 4 tentative approvals) and a cumulative total of 156 ANDA approvals (136 final approvals and 20 tentative approvals) from the USFDA.

Suditi Industries: The company’s board has approved a proposal to raise up to Rs 30 crore by way of rights issue of shares.

India Steel Works: The company’s board is scheduled to meet on January 11 to consider a proposal for raising funds via various available options.

GG Dandekar: The company’s board has recommended sale of undertaking held in the form investment in shares of body corporate in one or more tranches not exceeding Rs 35 crore.

Star Housing Finance: The company has entered into a co-lending agreement with Capital India Homes Loan.

NCL Industries: The company informed BSE, that its December quarter cement production and dispatches declined by11 per cent respectively, while RMC production & sales dropped by17 per cent, doors production & sales jumped by 52 per cent in the said quarter.

Stocks in F&O ban: RBL Bank is the only stock in the F&O ban period for the day.