Stocks To Watch: Tata Tech, ICICI Bank, Nykaa, Thomas Cook, Ultratech Cement, Jupiter Wagons, Zomato
Here are the stocks to watch before going into trade today.
FSN E-Commerce Ventures Ltd., Thomas Cook (India) Ltd., Metro Brands Ltd., and Zomato Ltd. will be among the major stocks to watch in Thursday's trading session.
FSN E-Commerce Ventures signed a long-term licensing agreement with Metro Brands and Nykaa Fashion on Wednesday.
Fairbridge Capital (Mauritius) Ltd., a promoter entity of Thomas Cook India, will sell up to 3.2 crore shares, or 6.8%, via an offer for sale.
Chinese payments group Alipay has offloaded 29.60 crore shares, or 3.44% stake, in food aggregator Zomato Ltd. for Rs 112.7 per share.
Markets in Asia fell ahead of the key economic data release from the China, and as bond prices rose further on expectation of rate cuts by the U.S. Federal Reserve.
China is expected to release its purchasing manager's index data for the month of November later in the day. Meanwhile, equity indices fell in Hong Kong and mainland China. At 06:32 a.m., Hang Seng was down 2.08% at 16,993,44.
Shares in Japan, Australia, and South Korea also fell on Thursday. Nikkei was trading 0.16% down at 32,272.37 as of 06:37.
Japan's factory output rose 1% on a sequential basis in October beating analysts' expectation of 0.8% rise for the month. Production rose 0.9% on year, Bloomberg reported.
The GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 16 or 0.08% at 20,105.0, as of 6:50 a.m.
India's benchmark stock indices extended gains for the second consecutive day to end at over two-month high on Wednesday, led by gains in HDFC Bank Ltd, Axis Bank Ltd, and ICICI Bank Ltd.
The NSE Nifty 50 ended 206.9 points, or 1.04% higher, at 20,096.60, the highest level since Sept. 15; while the S&P BSE Sensex gained 727.71 points, or 1.1%, to close at 66,901.91, the highest level since Sept. 18.
Overseas investors stayed net buyers for the fourth consecutive session on Wednesday. Foreign portfolio investors bought stocks worth Rs 71.9 crore, and domestic institutional investors continued as buyers and purchased stocks worth Rs 2,360.8 crore, the NSE data showed.
The Indian rupee closed flat at 83.33 against the U.S. dollar on Wednesday.
The S&P 500 index and Nasdaq 100 fell by 0.09% and 0.14%, respectively, as on 1:01 p.m. New York time. The Dow Jones Industrial Average was up by 0.04%.
Brent crude was trading 0.30% lower at $82.85 a barrel. Gold gained 0.10% to $2,046.34 an ounce.
Stocks To Watch
Metro Brands: The company has signed trademark license agreement with Foot Locker Retail, Inc. granting exclusive rights for opening and operating athletic and casual footwear and apparel stores under the brand names “Foot Locker” and “Kids Foot Locker” through brick and-mortar stores in India.
ICICI Bank: The board approved the draft scheme of arrangement for the delisting of equity shares of ICICI Securities, thereby making ICICI Securities a wholly-owned subsidiary of the bank.
FSN E-Commerce Ventures: Foot Locker announced the signing of a long-term licensing agreement with Metro Brands Ltd. and Nykaa Fashion. Nykaa Fashion will serve as the exclusive e-commerce partner and operate Foot Locker's India website.
Thomas Cook (India): Company's promoter, Fairbridge Capital (Mauritius) Ltd., proposed an offer for sale to sell up to 32 lakh equity shares, representing 6.8% of the total paid-up equity share capital of the company. In case of oversubscription, an additional 80 lakh shares representing a 1.7% stake will be available. The floor price of the offer is set at Rs 125 per equity share.
Shivalik Bimetal Controls: The company signed a MoU with Metalor Technologies International SA (Metalor) to explore the feasibility of setting up a joint venture in India to produce electrical contacts.
Dixon Technologies (India): ICRA Ltd. reaffirmed the company's ratings and revised the outlook on the long-term rating from stable to positive.
Man Infraconstruction: The company approved Rs 550 crore fund raise through a preferential issue. The funds will be raised through the issue and allotment of up to 3.55 crore warrants, each warrant convertible into one equity share of the face value of Rs 2 each on preferential basis at an issue price of Rs 155 including premium of Rs 153 per warrant.
Max Estates: Max Estates Gurgaon Ltd., a 100% wholly owned subsidiary of Max Estates Ltd., proposed to develop a group housing project on the land admeasuring 11.80 acres in Gurugram, Haryana.
Rajoo Engineers: The company's board approved Rs 19.79 crore buyback at Rs 210 per share.
Southern Petrochemical: The company shut its plants on Nov. 29 due to plant maintenance. It expects to line up production by Dec. 2.
Ultratech Cement: The cement manufacturer acquired 0.54 MTPA cement grinding assets of Burnpur Cement for Rs 170 crore.
Karur Vysya Bank: The Karur headquartered bank opened three new branches in Tamil Nadu and one in Karnataka.
Ramco Systems: Ramco System Korea Company Ltd. was incorporated in South Korea as a wholly owned subsidiary of the company.
Dalmia Bharat Sugar And Industries: The company's resolution plan for the revival of Baghauli Sugar and Distillery under the corporate insolvency resolution process in terms of Insolvency and Bankruptcy Code, 2016 was approved by Allahabad Bench of Hon'ble National Company Law Tribunal.
L&T Finance: The company approved the allotment of 13.07 lakh equity shares under L&T FHL employee stock option dcheme – 2013.
JSL Overseas Holding: The company released pledge on the shares of Jindal Stainless.
Welspun Speciality Solutions: It bagged orders for aggregative amount of Rs 15.87 crore from a domestic, unrelated customer for supply of duplex drade seamless tubes. The order is expected to be executed by March 2024.
PCBL: The company formed a 51-49 joint venture with Kinaltek for battery manufacturing facility. It will invest $16 million in JV, and infuse up to $28 million in stages.
Jupiter Wagons: The company has launched its qualified institutional placement to raise up to Rs 700 crore.The board authorised the opening of the issue and set the floor price at Rs 331.34 per share.
One 97 Communications: Payments platform Paytm said its mobile application is facing a "technical issue" as users complained of a service outage on Wednesday.
Zee Entertainment Enterprises: The company called reports indicating risks to its merger plan with Sony as "factually incorrect".
JSW Infrastructure: The company has issued a corporate guarantee of $126 million in favour of Axis Trustee Services Ltd. Its subsidiary company, Masad Infra Services Pvt., has entered into a concession agreement with the Karnataka Maritime Board to develop a greenfield port.
New Listings
Tata Technologies: The company's shares will debut on the stock exchanges on Thursday at an issue price of Rs 500 apiece. The Rs 3,042.51 crore IPO was subscribed 69.43 times on its third and final day. The bids were led by institutional investors (203.41 times), non-institutional investors (62.11 times), retail investors (16.50 Times), employee reserved (3.7 times) reservation portion shareholder (29.2 times).
FedBank Financial Services: The company's shares will debut on the stock exchanges on Thursday at an issue price of Rs 140 apiece. The Rs 1,092.26 crore IPO was subscribed 2.20 times on its third and final day. The bids were led by institutional investors (3.51 times), non-institutional investors (1.45 times), retail investors (1.82 Times), and employee reserved (1.34 times).
Gandhar Oil Refinery: The company's shares will debut on the stock exchanges on Thursday at an issue price of Rs 169 per share. The Rs 500.69 crore IPO was subscribed 64.07 times on its third and final day. The bids were led by institutional investors (129 times), non-institutional investors (62.23 times), and retail investors (28.95 Times).
Block Deals
Zomato: Alipay has offloaded 29.60 crore shares, or 3.44% stake for Rs 112.7 per share. Morgan Stanley bought 4.4 crore shares, or 0.5% stake, at Rs 112.7 per share, and Societe Generale bought 3.54 crore shares (0.41%) at Rs 112.7 apiece, among others.
WPIL: V N Enterprises sold 0.63 lakh shares (0.64%) at Rs 3,111 apiece, while Hindusthan Udyog bought 0.63 lakh shares (0.64%) at Rs 3111 apiece.
AGM Meetings
Proctor & Gamble Health
Who’s Meeting Whom
Arvind: To meet investors and analysts on Dec. 04.
Datamatics Global Services: To meet investors and analysts on Dec. 04.
Hindware Home Innovation: To meet investors and analysts on Nov. 30.
E.I.D- Parry (India): To meet investors and analysts on Dec. 01.
Star Health and Allied Insurance Company: To meet investors and analysts on Dec. 07.
Bharat Forge: To meet investors and analysts on Dec. 04.
Shalby: To meet investors and analysts on Dec. 04.
Angel One: To meet investors and analysts on Dec. 04 to 07 and Dec. 12
HDFC Life Insurance Company: To meet investors and analysts on Dec. 04.
Deepak Fertilisers and Petrochemicals Corporation: To meet investors and analysts on Dec .05.
UPL: To meet investors and analysts on Dec. 04.
Can Fin Homes: To meet investors and analysts on Dec. 05.
Welspun Enterprises: To meet investors and analysts on Dec. 04.
F&O Cues
Nifty November futures rose 1.03% to 20,143 at a discount of 46.4 points.
Nifty November futures open interest fell by 25.87% by 42,308 shares.
Nifty Bank November futures rose by 1.67% to 44,717.95 at a premium of 151.5 points.
Nifty Bank November futures open interest fell by 26% by 29,483 shares.
Nifty Options Nov 30 Expiry: Maximum call open interest at 20200 and maximum put open interest at 20000.
Bank Nifty Options Nov 30 Expiry: Maximum Call Open Interest at 45000 and Maximum put open interest at 43,000.
Securities in the ban period: Hindustan Copper, Manappuram Finance
Research Reports
Manappuram Finance - Gold Loan Growth Target Maintained: IDBI Capital
Mold-Tek Packaging - Ramp-Up Of Margin Accretive Projects Is The Key: Nirmal Bang
PCBL - Diversifies Into Other Chemicals With A Major Acquisition: IDBI Capital
Cement Sector Check - Q3 Price Remains Up, Consensus Upgrading Ebitda: IDBI Capital
