The major benchmark indices are set to open Tuesday’s trading on a low note, following the weak indications from the major global rivals, the US. In contrast to yesterday’s spot Nifty 50 close of 18,420, the SGX Nifty futures were quoted at 18,450 at 7:10 AM.
Elin Electronics’ Rs.475 million primary market initial public offering (IPO) is accessible for subscription today in the range of Rs 234 to Rs 247. The deadline is December 22.
In the meanwhile, Tuesday’s trading is anticipated to centre on the companies listed below.
The top 10 stocks that will be the subject of today’s attention are listed below:
Just Dial: The promoter of the company, Billionaire Mukesh Ambani-led Reliance Retail Ventures Ltd (RRVL), would sell a 2% investment in the company through an open market sale to achieve a minimum public shareholding. RRVL aims to complete the sale of the Sale Shares within eight trading days beginning December 21, 2022, according to a regulatory filing. As of September 30, 2022, RRVL owns 66.40% of Just Dial. The promoter and promoter group entities own 76.98% of the company.
Dabur India: Promoters of Dabur India Ltd may sell a tiny share in the packaged products company in a block sale on Tuesday, according to two people familiar with the situation. The transaction is scheduled to take place at a 4% discount to the stock’s Monday closing price of ₹588.65, one of the sources said, asking anonymity. A 4% discount results in a price of Rs.565. The reason for Dabur’s promoter family selling the stake could not be confirmed immediately by Mint.
Hinduja Global: Hinduja Global’s board of directors has approved a Rs 1,020 crore share buyback. As a result, the corporation would buy back 60 lakh equity shares under the ‘tender offer’ procedure at a maximum price of Rs 1,700 per share.
Ramco Systems: Ramco Systems’ board of directors will meet on December 22 to evaluate and accept a proposal for raising money through the issuance of equity shares and/or warrants convertible into equity shares.
Hindustan Zinc (HZL): The Vedanta group firm expects to invest more than $1 billion (about Rs 8,270 crore) over the next five years to convert its diesel-powered mining vehicles to battery-powered vehicles and to become a totally green energy user.
Sterling and Wilson Renewable Energy (SWRE): Promoters Shapoorji Pallonji & Company and Khurshed Yazdi Daruvala will sell up to 1 crore equity shares through the offer for sale mechanism on Wednesday and Thursday at a floor price of Rs 270 per piece.
IRB Infrastructure: The company’s board of directors will meet on January 4 to consider a stock split proposal.
Larsen & Toubro (L&T): After selling Infrastructure Development Projects (IDPL), engineering giant Larsen & Toubro (L&T) is considering selling Nabha Power in Punjab to prospective buyers as well as cutting its stake in Hyderabad Metro to 26% with the aim of lowering the Rs 18,000-crore debt on the books of these companies.
HDFC, Axis Bank: On December 20, mortgage provider HDFC increased the cost of house loans by 35 basis points (bps). As of December 17, Axis Bank increased its marginal cost of funds-based lending rate (MCLR) by 30 basis points.
Union Bank of India (UBI): To raise up to Rs 780 crore, the state-owned bank is likely to issue additional tier-1 (AT-1) bonds in order to access the debt capital markets. Treasury officials attributed the revival of interest in AT-1 bonds to a recent decline in corporate bond yields.
Stocks in F&O ban: The seven stocks that are subject to the F&O suspension on Tuesday are Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC, and PNB.
