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Equity benchmark indices Sensex and Nifty are looking to start higher on Wednesday, tracking strength across global markets despite an uptick in crude oil to $80 as oil giants divert their routes in the Red Sea, where Yemen's Houthis are targeting commercial vessels.
At 7:30 am, the Gift Nifty futures were up 80 points at 21, 610 over Nifty futures’ last close.
Bank of Japan's policy status quo led to extended gains in Asia this morning. Nikkei jumped 1.6 per cent. Hang Seng and Kospi also rose 1 per cent each. Australia’s S&P/ASX 200 was up 0.5 per cent.
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Overnight in the US, the Dow, S&P 500 and Nasdaq Composite gained 0.59-0.68 per cent.
Meanwhile, here are some stocks to watch out in trade today:
New listings today: Doms Industries and India Shelter Finance.
SpiceJet: After last week’s fundraising approval, Mumbai-based businessman Harihara Mahapatra and his wife Preeti are likely to invest Rs 1,100 crore in SpiceJet for a 19 per cent stake. Aries Opportunities Fund will hold 3 per cent while Elara Capital will hold 8 per cent, after conversion of warrants, reported The Economic Times.
Varun Beverages: The company said it will acquire South Africa's The Beverage Company Ltd (BevCo) for Rs 1,320 crore as it plans to expand its geographical footprint in Africa.
It has also signed a MoU with Jharkhand govt to set up a manufacturing plant in Patratu with a Rs 450 crore outlay.
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BPCL: Its board approved setting up a polypropylene (PP) unit at Kochi Refinery with a cost of Rs 5,044 crore.
HCL Tech: A ransomware incident has occured in an isolated cloud environment for one of its projects There has been no impact observed due to this incident on the overall HCLTech network, it said. A detailed investigation is underway.
BSE: BSE will impose an additional 15 per cent exposure margin in the equity derivatives segment on securities in which top 10 clients account for more than 20 per cent of market wide position limit (MWPL).
Nippon AMC: IndusInd Bank is likely to sell up to 1.79 crore share or a 2.86 per cent stake in Nippon AMC through a block deal, reported CNBC-TV 18. The total offer size for the stake stands at Rs 762 crore. The floor price for the block deal is set at Rs 426.60.
Embassy Office Parks REIT: Blackstone plans to exit the real estate investment trust by selling its entire 23.6 per cent stake through a mega block deal of $833 million, reported Moneycontrol.
Astral: Its promoter is looking to sell 2-3 per cent stake via a block deal, as per CNBC-TV18. The promoter holds 55.85 per cent stake in Astral.
IT stocks: Accenture has projected second-quarter revenue below estimates. It expects Q2 revenue in the range of $15.40-16 bn vs $16.20 bn, estimated by analysts polled by LSEG.
RVNL: RVNL in a JV has won a project of Rs 124 crore for Varkala Sivagiri Railway Station in Kerala. RVNL’s stake in the JV is 49 per cent.
Deepak Nitrite, Petronet LNG: A wholly-owned subsidiary of Deepak Nitrite said it will supply 250 kilotons per annum (KTPA) of propylene and 11 KTPA of hydrogen to Petronet LNG. The arrangement spans 15 years from the initial delivery.
Glenmark Life, Glenmark Pharma: The CCI has approved the proposed acquisition of Glenmark Life Sciences by Nirma Ltd.
UPL: Its board will meet on December 22 to consider fund raising.
Godrej Agrovet: Animal Feed business' CEO Sandeep Kumar Singh has tendered his resignation.
