Stocks to watch: Reliance Industries, Gail India, JK Cement, India Cements and more | Business Upturn

Stocks to watch: Reliance Industries, Gail India, JK Cement, India Cements and more

Stocks to Monitor On Friday, Aban Holdings and Landmak Cars will make their stock market debuts. Both of these equities are probably going to have a slow trading onset.

This Friday, the major Indian benchmark indices are set to open trading on a downbeat note, mirroring the lacklustre cues from the international markets. The recent Covid-19 scare and worries about a slowdown in economic development are weighing on the market.

The actual Nifty 50 closed yesterday at 18,127, while the SGX Nifty futures were quoted at 18,090 at 7:20 AM.


In the meanwhile, Friday’s trading is anticipated to centre on the companies listed below.

Aban Holdings: Given the muted reception to its recently concluded IPO, the stock is likely to list on a gloomy note. Only 1.1 times of the Rs 345.60 crore public offering received subscriptions.

Landmark Cars: The Rs 552 crore IPO of the chain of car dealerships received 3.1 times its initial subscription, with institutional investors showing a strong level of interest. The Grey Market Premium, however, also points to a lacklustre debut for this stock.

Reliance Industries: To purchase cell tower and fibre assets from Reliance Infratel, Reliance Jio’s subsidiary Reliance Projects and Property Management Services placed Rs 3,720 crore in an SBI escrow account.

Reliance Strategic Business Ventures, another RIL affiliate, on Thursday paid $25 million for a 23.3% interest in Exyn Technologies Inc. Exyn is a leader in multi-platform robotic autonomy for challenging terrain without GPS.

Gail India: The state-run gas utility anticipates little to no LNG supply from Russia’s Gazprom for at least a year and is making preparations to make up the difference. The company’s petrochemical factory in Uttar Pradesh is now operating at 40% capacity.

Lupin: The US-based division of the pharmaceutical company has recalled four lots of Quinapril pills intended to treat high blood pressure because they contain an impurity called nitrosamine. Lupin stated, “To date, Lupin has received no reports of illness that appear to connect to this concern,” and in September 2022, it stopped selling Quinapril pills.

JK Cement: The cement producer stated that it had entered the paints industry by paying Rs 153 crore for a 60% interest in Rajasthan-based Acro Paints. A 12-month period will be used to acquire the remaining 40% of the stock.

India Cements: The business told the BSE that searches were performed at its Chennai office on Thursday by India’s fair trade watchdog, the Competition Commission of India (CCI). The corporation has not broken any CCI requirements, according to the release.

Ramco Systems: The company’s board has given the go-ahead for a plan to issue convertible equity warrants to promoters and non-promoter group at a price of Rs 274 apiece in order to raise up to Rs 160 crore.

Tata Communications: The Tata Group firm would pay Rs 486 crore in cash to purchase The Switch Enterprises, a New York-based end-to-end live video production company.

S Chand: For Rs 14 crore, the education content provider will sell Physicswallah, a sector unicorn, its full ownership in the AI/data sciences edtech platform iNeuron Intelligence.

Stocks in F&O Ban: Indiabulls Housing Finance was the lone stock subject to the F&O suspension on Friday.

Radiant Cash Management Services’ Rs 387.94 crore initial public offering (IPO) is currently open for subscription on the primary market in the price range of Rs 94 to Rs 99. The deadline for submissions is December 27.