Stocks to watch: Reliance, Paytm, Axis Bank, Glenmark Pharma and more

Stocks to Watch Today: Sula Vineyards shares are expected to debut on a shaky note on Thursday.

The NSE Nifty 50 is expected to open nearly 100 points higher on Thursday, following a day of high volatility as US markets extended gains. The SGX Nifty futures were quoted at 18,350 at 07:30 AM, compared to the spot Nifty 50 close of 18,199 yesterday.

Meanwhile, the following stocks are likely to be in the spotlight in trading on Thursday.

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Sula Vineyards: The winery’s stock will go public on the market today. According to the Grey Market Premium, the stock is likely to begin trading on a low note. The company’s Rs 960.35 IPO was recently subscribed to 2.3 times.

Reliance Industries (RIL): The Mukesh-Ambani-led company’s retail arm, Reliance Retail, has signed a definitive agreement to buy out METRO Cash & Carry India for Rs 2,850 crore. According to a release to the exchanges, the acquisition will add uniquely positioned multi-category large format stores to Reliance Retail’s store footprint across India and further strengthen its new commerce business.

Torrent Pharma and Reliance Capital: The Ahmedabad-based Torrent group has won the race to acquire Reliance Capital, offering Rs 8,640 crore in an auction held on Wednesday. The Torrent Group’s flagship company is Torrent Pharmaceutical.

Spandana Sphoorty Financial: The board of directors of the company has approved a proposal to raise up to Rs 300 crore. One, through the issuance of Rs 200 crore in non-convertible debentures with a 14-month maturity. Two, through the issuance of Rs 100 crore in non-convertible debentures with a term of 36 months.

Speciality Restaurants: The board of directors approved an increase in the company’s authorised share capital from Rs 58 crore to Rs 67 crore. Furthermore, the board approved the issuance of 60 lakh preferential warrants convertible into equity shares worth Rs 127.23 crore at Rs 212.05 each to non-promoter groups or individuals.

Paytm: According to Vijay Shekhar Sharma, MD & CEO of Paytm, the Unified Payments Interface (UPI) should remain free until digital transfers become the dominant method of money transfer. On Wednesday, he spoke at the Business Standard BFSI Insight Summit in Mumbai. According to Sharma, a free UPI will bring more people into the formal economy and have a multiplier effect.

Axis Bank: The bank has strengthened its position on both the asset and liability sides, and it may be on track to deliver sustained performance improvement. The valuation disparity between Axis Bank (which trades at 1.4x core book value (or BV) and peers such as ICICI Bank (which trades at 2x BV) is expected to narrow.

IndiGrid and G R Infraproject: IndiGrid and G R Infraprojects are both infrastructure investment trusts. India Grid Trust and G R Infraprojects have teamed up to bid on power transmission projects worth Rs 5,000 crore. In addition, to kick off the collaboration, they have entered into a framework agreement to acquire a 100% stake in Rajgarh Transmission, which the latter won in March 2022.

MTAR Technologies: MTAR Technologies’ board of directors has approved and recorded the proposal for the design and development of Small Satellite Launch Vehicle (SSLV) Project 2. In addition, an MOU was signed between MTAR and the Indian National Space Promotion and Authorization Centre (IN- SPACe).

Glenmark Pharma: Glenmark Pharma has launched a triple fixed-dose combination of Teneligliptin, Pioglitazone, and Metformin for diabetic patients in India. It is priced at Rs 14.90 per day, which cuts the daily cost of therapy by 40%.

Gautam Gems: The company’s board of directors will meet on December 30 to discuss a proposal to enter the Renewable Energy Sector, which includes windmills and solar energy.

Stocks in F&O Ban: On Thursday, three stocks are subject to a F&O ban: GNFC, Indiabulls Housing Finance, and IRCTC.