Stocks To Watch: Paytm, Vodafone Idea, Vedanta, Infosys
New Delhi: The domestic stock indices are expected to trade cautiously on Friday, taking cues from the global markets. Asian shares slipped and the dollar held firm as traders edged away from riskier assets amid renewed concerns about Covid-19 and ahead of key U.S. inflation data that could set direction on Federal Reserve rates. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.4 per cent and Japan's Nikkei shed 0.5 per cent. Overnight the S&P 500 lost 0.72 per cent and the Nasdaq Composite dropped 1.71 per cent.
Trends on SGX Nifty indicated a lower opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures moved 0.10 per cent or 17.70 points down to 17,515.80.
The benchmark BSE Sensex had gained 157.45 points or 0.27 per cent to settle at 58,807.13 on Thursday; while the broader NSE Nifty had climbed 47.10 points or 0.27 per cent to close 17,516.85.
Here Are Stocks To Watch During Today's Session:
Paytm (One97 Communications): Paytm Payments Bank, a subsidiary of Paytm, has received the Reserve Bank of India's (RBI's) approval to operate as a scheduled payments bank. As a scheduled payments bank, Paytm Payments can participate in government and companies' request for proposals, primary auctions, fixed-rate and variable rate repos, and reverse repos, along with participation in Marginal Standing Facility.
Vedanta: The company's board is scheduled to meet on December 11 to consider its second interim dividend. The record date for the payout is set at December 18.
Infosys: The IT major has collaborated with Packable, a leading e-commerce company with tech-enabled offering. Packable had recently announced merger with Highland Transcend Partners, setting it on the path to becoming a public company.
Vodafone Idea: Shares of the telecom operator had surged over 16 per cent (52-week high) on Thursday, amidst reports that it has raised enough fund for the repayment of interest owed to bondholders within the December 13 deadline.
Bajaj Electricals: The company has decided to review its existing corporate structure due to the nature and potential opportunities of each of its business segments.
Also, aviation stocks will be in focus as India has extended the ban on scheduled international flights till January31, 2022. This restriction will not be applicable to any international all-cargo operation and flight specifically approved by the aviation regulator Director General of Civil Aviation (DGCA).
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