Stocks to watch: SBI, Biocon, NDTV, PNB, PVR and more

After the minutes from the Fed’s latest meeting held showed that the US central bank may pause the pace of interest rate hikes, the Sensex reached a new high on Thursday, driven by a surge in IT companies. The Sensex closed for the first time above 62,000. The larger Nifty50 index rose 1.2%.

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The top 10 stocks that will be the subject of today’s attention are listed below:

State Bank of India (SBI): The largest lender in the nation, State Bank of India (SBI), announced on Thursday that it will think about generating money by selling up to 10,000 crores in infrastructure bonds. A greenshoe option worth Rs.5,000 crore will also be included, the bank stated in a regulatory filing. If approved, the fundraising would take place in fiscal 2023 through a public offering or a private placement, according to SBI. On November 29, its executive committee of the central board will convene to discuss the fundraising.

Biocon: The world’s largest biotechnology company, Biocon, announced on Thursday that its subsidiary, Biocon Biologics, has received equity shares worth Rs.2,205.63 crore as part of an equity injection to finance the latter’s purchase of Viatris Inc.’s biosimilars business. In February of this year, Biocon Biologics Ltd (BBL) signed an agreement to buy the biosimilars division of Viatris Inc. for up to USD 3.335 billion (about Rs.24,990 crore). On November 23, BBL made an allocation of the equity shares to Biocon Ltd for a cash consideration of Rs.2,205.63 crore.

Punjab National Bank (PNB): In order to strengthen its capital base, the state-owned Punjab National Bank (PNB) said on Thursday that it had secured government authorisation to sell all of its holdings in UTI Asset Management Company Limited. The bank, which owns a 15.22% interest in UTI AMC, will sell all of its stock in the mutual fund business in a single or series of transactions in order to realise a profit. It is currently valued at Rs.1,329 crore.

NDTV: On the third day of the open offer run by Vishvapradhan Commercial, AMG Media Networks, and Adani Enterprises, about 28 lakh NDTV equity shares were subscribed. More than 16.5% of the total number of shares that will be bought are represented by this. The open offer for Rs.492.81 crores began on November 22 and will run through December 5, 2022. According to BSE data, 27,72,159 equity shares were subscribed for in NDTV’s open offer, which was 16.54% of the book size of 1,67,62,530 equity shares.

Laurus Labs: According to a report, Lauras Labs and Ethan Energy India have signed a Share Subscription Agreement and Shareholders’ Agreement in order to purchase a 26% stake in Ethan Energy India. According to the article, this will enable the business to use all of the solar energy generated by Ethan Energy India’s 10 MW solar energy plant.

ZIM Laboratories: On Wednesday, the provider of drug delivery solutions ZIM Laboratories Ltd announced its intention to list on the National Stock Exchange of India (NSE) on November 25. ZIM Laboratories, which has been listed on the BSE since June 2018 previously, has announced that it will also list on the NSE. The company reported that as of this point, it has given its investors a return on their investment from the listing price of over 85%.

PTC India: Due primarily to lower expenses, PTC India, a provider of power trading solutions, saw its consolidated net profit more than triple to Rs.157.11 crore in the March 2022 quarter. According to a BSE filing, the company’s combined net profit for the three months ending March 31, 2021, was Rs.49.77 crore. Its total expenditures decreased from Rs.3,792.56 crore a year ago to Rs.2,890.57 crore in the quarter.

PVR: To increase its market share, PVR Cinemas on Thursday announced the opening of its first and largest 12-screen superplex in Kerala’s capital city of Thiruvananthapuram at Lulu Mall. On December 5, 2022, this cinema will open for business. The 12-screen facility will feature 2 of PVR’s LUXE luxury formats, including 4DX and IMAX, which are both worldwide formats.

Manaksia Ltd.: The firm has declared a 150% interim dividend for the fiscal year 2022-2023, and the record date for that reason is November 25, 2022, making the stock likely to be in the news tomorrow. In a filing with the stock exchange, the firm stated that its board of directors “Declared Interim Dividend @ 150% (i.e., Rs. 3.00/- per equity shares having face value of Rs. 2/- each) on the Equity Shares of the Company for the Financial Year 2022-2023.” The Interim Dividend must be paid by Friday, December 9, 2022, or earlier.

Commercial Syn Bags, Dev Information Technology, Mafatlal Industries, and Maharashtra Seamless: Commercial Syn Bags, Mafatlal Industries, Dev Information Technology, and Maharashtra These four stocks will be the subject of attention on November 25 because it is the day they become ex-dividend and ex-bonus. These stocks are multi-baggers and have provided investors with impressive returns of between 100% and 450% over the past two years. Three of the stocks are mid-caps, and one is a small-cap.