The markets are likely to start trade on a tepid note awaiting fresh cues from the global markets. As of 08:30 AM, the December Nifty futures on SGX were quoted at 17,079, down seven points. Meanwhile, here the top stocks to focus in trade today.
Among individual stocks, shares of Zomato, IRCTC, Godrej Properties and Tata Power will be in focus due to the scheduled rejig of MSCI indices. The Standard Index (India) will see 7 additions and 2 deletions, and will see weight changes for certain stocks such as HDFC Life and Piramal Enterprises. Overall, analysts expect India to see a net inflow of approximately $500 million with all the adjustments.
Go Fashion India: The stock will list on the bourses today after the IPO was subscribed 135.46 times during the offer period. The company has fixed the issue price at Rs 690 per share.
Reliance Capital: The Reserve Bank of India (RBI) on Monday superseded the board of industrialist Anil Ambani-promoted Reliance Capital, a non-banking financial company (NBFC), owing to defaults and governance issues. It said the company would go for insolvency proceedings shortly. READ MORE
Hindalco, Nalco: Aluminium has seen high volatility in the global metals market in the past two months. In mid-October, LME prices hit multi-year highs of $3,198 per tonne. Prices then corrected steeply to $2,550 in early November before stabilising and moving up to around $2,700. Most analysts expect demand to drop, due to a drop in global growth rates and China cooling down as well. But there are estimations that supply could tighten as well, due to high energy costs. READ MORE
Dish TV: The Supreme Court on Monday agreed to hear the petition filed by YES Bank to appeal against an Allahabad High Court order which dismissed the bank’s petition to de-freeze its voting rights in Dish TV India. The SC will hear the petition on Tuesday even as Dish TV shareholders meeting has been postponed by a month which was scheduled on Tuesday. READ MORE
Dr.Reddy’s: The domestic pharma major is in talks with partners to export domestically made doses of Russia’s COVID-19 vaccine, Sputnik, after New Delhi recently approved shipments of other shots, the firm said on Monday.
InterGlobe Aviation: Budget carrier IndiGo on Monday said it has renewed its partnership with French hospitality group Accor. Through this partnership, IndiGo’s 6E Rewards members can now avail a 15 per cent discount, when they book directly with Accor and earn up to 6 per cent 6E Rewards as feature partner on any spends across Accor properties in India, Sri Lanka and participating hotels in Maldives.
Asian Paints: To company plans to invest Rs 960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a MoU with the government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 1.3 lakh KL to 2.5 lakh KL and resins and emulsions from 32,000 MT to 85,000 MT. READ MORE
ICICI Bank: Fitch Ratings has affirmed private lender ICICI Bank’s long-term issuer Default Rating (IDR) at ‘BB+’ with negative outlook. The rating agency also assigned ICICI a Government Support Rating (GSR) of ‘bb+’. READ MORE
TTK Prestige: The company has fixed December 15 as the record date for the proposed 10:1 stock split.
James Warren Tea: Company’s board approves share buy-back worth Rs 24.86 crore at Rs 295 per share.
Stocks in F&O ban: Indiabulls Housing Finance is the only stock in F&O ban today.