Image Source: Twitter
The markets are expected to open on a positive note on Friday, tracking gains in their global counterparts. At 07:50 AM, the SGX Nifty futures quoted at 18,800 as against the spot Nifty 50 close of 18,609 yesterday.
Meanwhile, the following stocks are likely to be in focus today.
One 97 Communications (Paytm): The company’s board of directors will meet on December 13 to consider a proposal for an equity share buyback.
Hindustan Unilever (HUL): Hindustan Unilever is acquiring stakes in two companies in order to enter India’s health and wellness category, which has a potential market size of Rs 30,000 crore. The company has bought a majority stake in Zywie Ventures, which sells plant-based and clean-label consumer wellness brand under the name OZiva, for Rs 264.28 crore. It will also acquire its subsidiary Zenherb Labs indirectly.
Pharma: In November, the domestic pharmaceutical industry recorded its highest growth rate for 2022, at 17.3 percent, as both volume sales and price growth increased. Anti-infectives grew by 15% in November, including antibiotics, antivirals, and antifungals.
Jindal Steel & Power (JSPL): On full payment of Rs 410 crore, the Naveen Jindal-led company completed the acquisition of Monnet Power, which has a 1050 MW under-construction plant in Odisha’s Angul.
ICICI Bank: The private sector lender raised Rs 5,000 crore through infrastructure bonds to fund projects in sectors such as power and roads. The coupon on seven-year paper was set at 7.63 percent, about 25 basis points higher than the yield on government benchmark bonds of comparable maturity.
HDFC Bank: After seeing strong demand for a Tier 2 bond sale worth Rs 15,000 crore a week ago, HDFC Bank is expected to issue another sale of such instruments worth up to Rs 5,000 crore because some investors were unable to obtain the earlier issuance, according to sources.
Ashok Leyland: Shenu Agarwal has been appointed as the new managing director and chief executive officer of Hinduja Group’s flagship company, Ashok Leyland. Shenu joins Ashok Leyland after serving as president of Escorts Kubota.
Stocks subject to a F&O ban: GNFC and Indiabulls Housing Finance are the only two stocks subject to a F&O ban on Friday.
