Stocks To Watch: PNB, Swan Energy, IndusInd Bank, IDFC First Bank, ICICI Lombard, Innova Captab

Here are the stocks to watch before going into trade today.

<div class="paragraphs"><p>(Source: Unsplash)</p></div>
(Source: Unsplash)

Companies such as Punjab National Bank, Swan Energy Ltd. and Innova Captab Ltd. will be in focus on Friday.

Punjab National Bank has approved raising up to Rs 7,500 crore during FY25 through QIP, FPO or other means, while Swan Energy approved raising Rs 4,000 crore via multiple instruments.

Innova Captab shares will debut on the stock exchanges on Friday at an issue price of Rs 448 apiece. 

A banner year for stocks is drawing to a close, with gains in big tech leaving the market near all-time highs amid the artificial intelligence exuberance and dovish Federal Reserve bets, Bloomberg reported.

The S&P 500 index and Nasdaq 100 advanced 0.12% and 0.22%, respectively, as of 12.45 p.m. New York time. The Dow Jones Industrial Average rose by 0.18%.

Brent crude was trading 1.26% lower at $78.65 a barrel. Gold was down 0.11% at $2,075.25 an ounce.

Most of the markets in the Asia-Pacific region rose on Friday as investors entered into the last trade session of 2023.

Markets in Japan declined with the benchmark Nikkei trading 0.05% down at 33,512.01 as of 6:26 a.m.

Share indices in Australia also fell as a fall in iron ore future prices dented investors' risk appetite. Australia is the largest exporter of iron ore, hence a fall in the commodity price is likely to impact export value.

Meanwhile, traders continued to remain positive about the U.S. Federal Reserve may start cutting rates in 2024. The new jobless claim data from the world's largest economy further affirmed traders' expectation.

Data from the U.S. Labor Department showed, the number of people filing for the state unemployment benefit increased by 12,000 to 218,000 in the week ended Dec 23, from upwardly revised 205,000 in the preceding week.

The S&P 500 index advanced 0.04%, and Nasdaq 100 declined 0.05% as of Thursday. The Dow Jones Industrial Average rose by 0.14%.

Brent crude was trading 1.58% lower at $78.39 a barrel. Gold was up 0.04% at $2,066.46 an ounce.

The GIFT Nifty was at 21,936 as of 6:35 a.m.

India's benchmark indices ended at a record high for the second day in a row on Thursday as ITC Ltd., Mahindra & Mahindra Ltd., and Reliance Industries Ltd. gained.

The S&P BSE Sensex ended 371.95 points, or 0.52%, higher at 72,410.38, while the NSE Nifty 50 closed 123.95 points up, or 0.57%, at 21,778.70.

The benchmark indices continued their winning streak for the fourth consecutive day.

Overseas investors stayed net buyers of Indian equities for the second consecutive session on Thursday. Foreign portfolio investors mopped up stocks worth Rs 4,358.9 crore, while domestic institutional investors turned net buyers and bought equities worth Rs 136.6 crore, the NSE data showed.

The Indian rupee strengthened 18 paise to close at Rs 83.17 against the U.S. dollar on Thursday.

Stocks To Watch: PNB, Swan Energy, IndusInd Bank, IDFC First Bank, ICICI Lombard, Innova Captab

Stocks To Watch

  • Punjab National Bank: The bank approved raising up to Rs 7,500 crore in one or more tranches during the next financial year.

  • Swan Energy: The company approved raising Rs 4,000 crore via multiple instruments.

  • IndusInd Bank, IDFC First Bank, RBL Bank: ICICI Prudential AMC and ICICI Prudential Life received RBI's nod to acquire aggregate holding of up to 9.95% stake in the two lenders.

  • Federal Bank, Equitas Small Finance Bank: The RBI approved ICICI Prudential Asset Management Company to acquire up to a 9.95% stake in the company.

  • Oil Marketing Companies: As per reports, state-run OMCs are likely to announce cuts in petrol and diesel prices.

  • ICICI Lombard General Insurance: The company received a Rs 1,728-crore demand from GST Authority and a penalty of Rs 172 crore for the period July 2017 to March 2022. The company said it will file an appeal.

  • Thermax: The company has completed transfer of lease hold rights of vacant plot situated at MIDC Industrial Area Chinchwad, Pune admeasuring 57482 sq. meters for a consideration of Rs 135.66 crore.

  • Tata Coffee, Tata Consumer Products:  The scheme of arrangement between Tata Coffee, Tata Consumer Products, and its wholly-owned subsidiary TCPL Beverages and Foods, will be effective from Jan. 1, 2024. The scheme involves the demerger of Tata Coffee's plantation business into TCPL Beverages & Foods, and the merger of the remaining business with Tata Consumer Products.

  • D B Realty: The company approved to provide corporate guarantee of Rs 45 crore to Capri Global Capital in respect to term loan facility granted by the Capri Global Capital to company’s subsidiary Esteem Properties.

  • Aditya Birla Fashion and Retail: The company raised its stake in unit Finesse International Design to 63.5% from 58.7% for Rs 20 crore.

  • Info Edge India: The company will invest Rs 25 crore in Zwayam Digital, a wholly owned subsidiary.

  • The Ramco Cements: The company has approved to acquire the shares of its arm Ramco Industries from Promoter Group Nalina Ramalakshmi for Rs 16 crore in one or more tranches.

  • Kama Holdings: The promoter has sold 17,234 shares (0.05%) in the open market to achieve minimum public shareholding of 75%.

  • Satin Creditcare Network: The company entered into master agreement for co-lending of loans to Micro-finance borrowers by way of co-lending module in tranches with Karnataka Bank. Ratio of 80:20 will be funded by the Bank and the company respectively.

  • RedTape: The company has entered a strategic, marketing and technical tie-up with Open Network for Digital Commerce (ONDC) for marketing its products.

  • Waaree Renewables: The company has signed collaboration agreement with 5B Maverick Services to accelerate the deployment of utility-grade solar power both domestic and international.

  • Lemon Tree Hotels: The company has signed a franchise agreement for an upcoming hotel in Mussoorie, Uttarakhand under the Company’s brand- ‘Lemon Tree Hotel’.

  • Power Mech Projects: CFO J. Satish has resigned from the position and Nani Aravind Nallamothu has been appointed for the same position.

  • PCBL: The company has incorporated Advaya Chemicals as a wholly owned subsidiary.

  • UPL: The company incorporated new subsidiary in Saudi Arabia for chemical manufacturing business.

  • India Shelter Finance: The company reported a net profit of Rs 60 crore in Q2, up 67.1% year-on-year. The company also earned an interest of Rs 167.9 crore in Q2FY24 as against Rs 118 crore in Q2FY23 up 42% YoY.

  • Aarti Drugs: SEBI has sent an administrative warning over non-disclosure of plant closure in April 2022.

New Listing

  • Innova Captab: The company’s shares will debut on the stock exchanges on Friday at an issue price of Rs 448 apiece. The 570-crore IPO was subscribed 55.26 times on its third and final day. The bids were led by institutional investors (116.73 times), non-institutional investors (64.95 times), and by retail investors (17.15 times).

Block Deals

  • Zydus Wellness: Threpsi Care LLP sold 7.8 lakh shares (1.22%) while SBI Mutual Fund and Zydus Family trust bought 3.9 lakh shares (0.61%) each at Rs 1,632 apiece.

Bulk Deals

  • Indiabulls Housing Finance: ICICI Prudential Mutual Fund Equity - Arbitrage Fund sold 25.34 lakh shares (0.52%) at Rs 218.74 apiece, SBI Mutual Fund SBI Arbitrage Opportunity Fund sold 30.9 lakh shares (0.64%) at Rs 218.16 apiece while Mathew Cyriac bought 25 lakh shares (0.52%) at Rs 213.53 apiece.

  • Zee Entertainment Enterprise: Plutus Wealth Management LLP bought 61.1 lakh shares (0.63%) at Rs 270.07 apiece.

  • Azad Engineering: Abu Dhabi Investment Authority bought 3.98 lakh shares (0.67%) at Rs 719.9 apiece.

Insider Trades

  • V.I.P. Industries: Promoter Kiddy Plast bought 15,000 shares on Dec. 27, promoter group DGP Enterprises bought 20,000 shares on Dec. 27 and promoter Dilip G. Piramal bought 30,000 shares on Dec. 27.

  • ION Exchange (India): Promoter group Bimal Jain sold 13,000 shares between Dec.18 and Dec. 27.

Pledge Share Details

  • Stove Kraft: Promoter Rajendra Gandhi creates a pledge of 1 lakh shares on Dec. 26.

Who’s Meeting Whom

  • Five-Star Business Finance: To meet investors and analysts on Dec. 30.

  • Piramal Pharma: To meet investors and analysts on Jan 8 to 10.

  • Metro Brands: To meet investors and analysts on Dec. 29.

  • Flair Writing Industries: To meet investors and analysts on Jan. 3 and 4.

  • UltraTech Cement: To meet investors and analysts on Dec. 31.

  • Paras Defence: To meet investors and analysts on Jan. 2.

Trading Tweaks

  • Ex/record date interim dividend: Can Fin Homes.

  • Ex/record date stock split: HMA Agro Industries.

  • Moved into a short-term ASM framework: J Kumar Infraprojects, Kamdhenu.

F&O Cues

  • Nifty January futures up by 0.35% to 21,930.05 at a premium of 151.35 points.

  • Nifty January futures open interest up by 22.10%.

  • Nifty Bank January futures up by 0.22% to 48,780.95 at a premium of 272.4 points.

  • Nifty Bank January futures open interest up by 34%.

  • Nifty Options Jan 4 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 21,500.

  • Bank Nifty Options Jan. 4 Expiry: Maximum Call Open Interest at 51,000 and Maximum Put open interest at 48,000.

  • Securities in the ban period: Hindustan Copper.

Stocks To Watch: PNB, Swan Energy, IndusInd Bank, IDFC First Bank, ICICI Lombard, Innova Captab