 "Stocks to Watch: Tata Tech, Gandhar Oil, Airtel, BoB, Thomas Cook, IDBI Bk")
Stocks to Watch on Thursday, November 30, 2023: Frontline indices are likely to start the last trading session for the month on a quiet note, amid tepid cues from global peers. However, the overall mood is likely to remain buoyant with focus on new listings today.
At 07:20 AM, Gift Nifty futures quoted at 20,130 as against the spot Nifty50 close of 20,096 yesterday.
Overnight, the US market ended flat even as macro-economic data hinted that inflation was trending lower, thus raising bets of a likely sooner-than-expected change in interest rate cycle. The US 10-year bond yields dipped to 4.263 per cent.
Nearer home, the markets in Asia also traded directionless this morning.
Meanwhile, here are the stocks that are likely to be in focus on Thursday.
Tata Technologies: Going by the Grey Market Premium (GMP), this Tata Group stock is all set to debut on the bourses on a stellar note, with an expected gain of over 70 per cent. The company had issued shares at Rs 500 each after its IPO received an overwhelming response with a record number of applications.
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Gandhar Oil Refinery, Fedbank Financial Services: These two stocks will also debut on the bourses Thursday. The former too seems likely to list at a healthy premium of around 35 per cent, while the latter may see muted introduction, suggests GMP.
RIL, Infosys, HDFC, ICICI Bank: According to Nuvama Alternative & Quantitative Research these four stocks are expected to draw the highest inflows among domestic stocks on account of the US Federal Retirement Thrift Investment Board’s decision to change the benchmark index for gaining international exposure. The move is likely to channel $3.6 billion (Rs 30,000 crore) inflows into Indian equities. READ MORE
Brokerages: Growing participation and increasing financial literacy could help the domestic retail brokerage industry’s revenue to more than double over the next five years, estimates consultancy firm Bain & Company. The number of demat accounts has tripled since FY19, thanks to the heightened interest sparked by the COVID-19 pandemic,” said Bain & Co in a note. READ MORE
Bharti Airtel: Sunil Mittal owned and the holding company of Airtel, Bharti Telecom plans to raise up to Rs 8,000 crore in its biggest-ever rupee bonds issue.
UltraTech Cement: Acquired the cement grinding assets of Burnpur Cement in Jharkhand for Rs 169.79 crore.
IDBI Bank: The government on Wednesday issued a fresh RFP for the appointment of asset valuer for strategic sale-bound IDBI Bank. The last date for submitting bids by asset valuer is January 5. READ MORE
Thomas Cook India: The company’s promoter Fairbridge Capital (Mauritius) will sell up to 8.5 per cent stake or 32 million equity shares in the company through an offer for sale (OFS), at Rs 125 per share.
Metro Brands, Nykaa: US-based Foot Locker has entered into a a long-term licensing agreement with Metro Brands and FSN E-Commerce Ventures, the parent company of Nykaa Fashion, for marketing the former’s products in India.
Bank of Baroda (BoB): Aims to raise upto Rs 5,000 crore through the first tranche of Infrastructure Bonds maturing in 10-years on Thursday. The bonds have been rated 'AAA' with a 'Stable' outlook by CRISIL and India Ratings.
Man Infraconstruction: The company’s board approved a proposal to raise up to Rs 550 crore by way of issuance of 35.50 million convertible warrants for Rs 153 each.