 "Stocks to Watch today: TCPL, Tata Coffee, PNB, Railtel, BoB, IDFC First Bk")
Stocks to Watch on Friday, December 29, 2023: Benchmark indices may attempt to extend the winning run to the sixth straight trading session on Friday, the last trading session of the year 2023.
In the process, the Sensex and Nifty will lock-in the best monthly gains for any December in more than a decade. For the calendar, the indices are up 19 per cent.
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On Friday, trading action may remain muted for a major part of the trading day amid lacklustre global cues owing to year-end holidays in select countries. At 07:40 AM, Gift Nifty futures quoted at 21,950, indicating a likely quiet start for the Nifty 50.
Meanwhile, here are the stocks that are likely to be in focus on Friday.
Innova Captab: To debut on the bourses today. The company fixed an issue price of Rs 448 after its Rs 570 crore IPO was subscribed 55.3 times.
Tata Consumer, Tata Coffee: Tata Coffee to merge with Tata Consumer Products (TCPL) and TCPL Beverages & Foods (TBFL) with effect from January 1. The record date for the share swap is set as January 15.
IDFC First Bank: ICICI Prudential Asset Management Company and ICICI Prudential Life Insurance Company have received RBI nod acquiring up to 9.95 per cent paid-up share capital of IDFC FIRST Bank.
Hindustan Unilever (HUL): In its bid to drive volumes and optimise distribution costs, HUL has made changes to its structure of distributor margins by increasing the variable margins and reducing the fixed one. READ MORE
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Adani Enterprises: Partners with Sirius International Holding, a subsidiary of IHC (International Holding Company), to create a joint venture named Sirius JV with an aim to capitalize on the global digital transformation and lead the $175 billion opportunity in the digitalisation of the Indian economy. READ MORE
Punjab National Bank (PNB): Board approved the proposal for raising of equity capital for an amount aggregating up to Rs 7,500 crore in one or more tranches during FY25 through Qualified Institutions Placement (QIP)/Follow on Public Offer (FPO).
RailTel Corporation of India: Won an order amounting to Rs 120.45 crore from South Central Railway for comprehensive signalling and telecommunication works.
ICICI Lombard General Insurance: Received a Rs 1,900 crore GST demand, including penalty amount, for the period July 2017 to March 2022.
Zydus Wellness: Private equity firm True North's arm Threpsi Care LLP on Thursday divested a 1.23 per cent stake (at Rs 1,632 per share) in Zydus Wellness for Rs 127.30 crore through an open market transaction.
SpiceJet: Post the new funding, aviation consultancy firm CAPA India believes that the low-cost airline has the potential to disrupt the Indian aviation market in 2024 as it brings back grounded aircrafts to service and lease as many planes as possible to be competitively relevant. READ MORE
Easy Trip Planners: To consider fund raising through preferential issuance of equity shares and warrants in a board meet on January 02.
Swan Energy: Board approves a proposal to raise funds up to Rs 4,000 crore through issuance of equity shares or other instruments.
Jindal Stainless: To generate over 1.9 billion units of clean electricity per year through its green energy initiatives, the initiatives in turn have the potential to reduce carbon emissions by over 13.52 lakh tonnes per annum.
Bank of Baroda (BoB): Increased interest rates on domestic retail term deposits by up to 125 basis points in various maturity buckets. The revised rates will come into effect from December 29, 2023.
Manorama Industries: Board to meet on January 15 to consider stock split.