Stocks to Watch: NDTV, IndiGo, SBI, Zee, Reliance, Axis Bank and more

Stocks to Watch today: The NDTV open offer will begin on October 17. Rakesh Gangwal, a co-promoter of IndiGo, is most likely to sell up to 2.8% of his investment on the open market.

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Even if fears about another rate hike remained high, it appears that the major benchmark indices will begin the year on a positive note, after sharp gains in the US markets. The SGX Nifty futures were trading at 17,724, indicating a possible gap-up of close to 100 points on the NSE benchmark this morning.

In the meanwhile, here is a list of equities that are probably going to be traded on Thursday.

NDTV: The Adani Group has reportedly launched an open offer to buy an additional 26% shareholding (16.76 million shares) at Rs 294 per share, according to a statement the company published to the BSE. The open bid will start on October 17 and run through November 1.

InterGlobe Aviation (IndiGo): According to sources, IndiGo Airlines co-promoter Rakesh Gangwal plans to sell up to a 2.8% share in the airline’s parent business InterGlobe Aviation for roughly Rs 2,000 crore.

Dr. Reddy’s Laboratories: Lenalidomide Capsules, a therapeutically similar generic form of REVLIMID (lenalidomide) Capsules, have been introduced by Dr. Reddy’s Laboratories for the US market. Dr. Reddy’s is qualified for first-to-market, 180-day generic medication exclusivity for Lenalidomide Capsules in 2.5 mg and 20 mg strengths with this volume-restricted launch.

Reliance (RIL): By developing scaleable, cost-effective indigenous items, the company’s retail division hopes to become “Atmanirbhar.” A few days ago, the business shocked the market by paying Rs 22 crore to buy the Campa brand from Delhi-based Pure Drinks Ltd.

SBI: The largest lender in India, State Bank of India, issued additional tier-1 (AT1) bonds on Wednesday for a total of Rs 6,872 crore at a cut-off rate of 7.75 percent, which is the lowest rate established for such debt issuances by any bank thus far in the current fiscal year.

Zee: Zee Entertainment must hold a shareholders’ meeting on October 14 to approve the merger with Culver Max Entertainment, the Mumbai bench of the National Company Law Tribunal (NCLT) ordered on Wednesday (formerly Sony Pictures Network).

Consumer firms: Consumer companies report high festival sales more than two years after the Covid outbreak. In the west and south of India, the festival season has already started with Ganesh Chaturthi and Onam, respectively.

Apollo Tyre: The tyre sector is undergoing some intriguing structural changes, according to Apollo Tyres. Realizations increased 24% between FY 2019–20 and 2021–2022, breaking an eight-year trend of flat realisations. If raw material costs decrease, this should increase EBITDA and lower capex as a percentage of revenue.

JSW Group: With a goal gross merchandise value (GMV) of $20 billion by FY32, Sajjan Jindal-controlled JSW Group wants to turn JSW One Platforms into a titan of the building materials sector’s e-commerce market.

HDFC Bank: With effect from September 7, HDFC Bank, the largest private lender in India, raised its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps). The six-member rate-setting committee of the RBI raised the benchmark repo rate by 50 basis points to 5.40 percent, which prompted the private sector banks to raise rates for the second time in two months.

Axis Bank: The bank has partnered with branchless banking network PayNearby in an effort to increase lending to key sectors.

Brand Bucket Media & Technology: The board of Brand Bucket Media & Technology approved issuing 1 crore convertible equity warrants to non-promoters on a preferential basis at Rs 33 per warrant in order to raise up to Rs 33 crore.

Stocks in F&O ban: The sole stock subject to the F&O embargo on Thursday is Delta Corp.