Stocks to Watch today, Dec 5: Honasa, M&M Fin, HCL Tech, Gulshan Polyols

Stocks to Watch on Tuesday, December 5, 2023: Reports suggest Fireside Ventures Investment Fund may divest 1.9 per cent stake in the parent company of Mamaearth via block deals for Rs 230 crore

Stocks to Watch on Tuesday, December 5: Domestic equities may take a breather on Tuesday after scaling record highs in the previous session. At 7:40 AM, Gift Nifty was quoting at 20,821 level, up 22 points.

Globally, Asia-Pacific markets fell across the board as investors assessed a slew of economic data from across the region.

Hong Kong's Hang Seng index slipped 1.1 per cent, while the mainland Chinese CSI 300 index fell 0.56 per cent, hitting fresh four-year lows.

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Japan's Nikkei 225 was down 1.43 per cent, while Australia's S&P/ASX 200 shed 0.91 per cent. South Korea's Kospi dropped 0.38 per cent.

 

Overnight, the Dow Jones Industrial Average shed 0.11 per cent, while the S&P 500 dropped 0.54 per cent. The Nasdaq Composite declined 0.84 per cent.

Meanwhile, here is a list of stocks to watch out today:

HCC: Stenier AG, Switzerland , a subsidiary of the company, has entered into a Share Purchase Agreement with France-based Demathieu Bard for divestment of its entire equity interest in Steiner Construction SA, Switzerland, a step-down material subsidiary of the company.

Separately, as part of the Baharampore-Farakka Highways Ltd. (BFHL), subsidiary stake sale transaction, HCC Infrastructure Company Ltd., subsidiary of Hindustan Construction Company Ltd has received Rs110 crore from Cube Highways and Infrastructure V Pte. Ltd.

Sheela Foam: SR Batliboi & Associates LLP, statutory auditor of Kurlon Enterprise, a subsidiary of Sheela Foam, has resigned from its post on December 4, 2023 with immediate effect.  

Bank of India: The stock may see some action amid reports that the state-owned bank is preparing to launch a qualified institutional placement (QIP) later this week. The QIP may be in the range of Rs 3,500-4,000 crore. 

Honasa Consumer: Reports suggest Fireside Ventures Investment Fund, a venture capital fund, may divest 1.9 per cent stake in the parent company of Mamaearth through block deals on Tuesday.

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About 6.1 million shares may be on the block worth Rs 230 crore. The floor price could be Rs 368.7-384.1 per share, a discount of up to 4 per cent from the prevailing market price. 

Gulshan Polyols: Has been allocated a quantity for supplying 89,404 Kilolitres of Ethanol from its 500 KLPD Ethanol plant at Boregaon with an estimated order value of Rs 571.5 crore.

Brigade Enterprises: Has entered into a joint development agreement with land owners to develop a residential project, spread over four acres at Kurubarahalli, Mysuru.

The developable area of the project will be about 0.40 million sq ft with a gross development value (GDV) of Rs 300 crore.

Max Financial Services: Analjit Singh, chairman of Max Life Insurance Company, has stepped down from the chairmanship and membership of the board of directors of Max Life effective December 4.

HCL Technologies: HCL Investments UK, the step-down wholly owned subsidiary of HCL Technologies, has entered into a Memorandum of Understanding with its joint venture (JV) partner, State Street International Holdings, to sell the entire 49 per cent equity stake for $170 million.

RR Kabel: Income Tax Department officials concluded their Search operations at the offices and manufacturing units of the company in the early hours on December 4.  

Ram Ratna Wires: The Income Tax Department concluded their Search operations at the offices and manufacturing units of the company and its subsidiaries on December 3. 

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JSW Infrastructure: Arm JSW Dharamatar Port has signed a share purchase agreement with SP Port Maintenance (a Shapoorji Pallonji Group company) to acquire 50 per cent plus one share of PNP Maritime for Rs 270 crore.

Mahindra & Mahindra Financial Services: Estimates an overall disbursement at approximately Rs 5,300 crore in November, up 16 per cent year-on-year.

SpiceJet: The National Company Law Tribunal dismissed a plea by aircraft lessor Willis Lease Finance Corp. to initiate insolvency proceedings against the cash-strapped airline.

Stocks in F&O ban: Delta Corp, Indiabulls Housing, Zee Entertainment Enterpriss, India Cement.